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LONDON (AP) — British cellphone company Vodafone confirmed Friday that it is selling its Italian business to Switzerland’s Swisscom for 8 billion euros ($8.7 billion) and will hand back half of the proceeds to its shareholders through the buyback of company shares. Swisscom, a telecoms operator, will pay in cash that it will finance through new debt. "Fastweb and Vodafone Italia are an ideal fit to create high added value for all stakeholders." Swisscom will pay annual initial charges of 350 million euros, which is expected to decrease over time. ”Its refreshed strategy also has seen it seek to merge its U.K. business with Three U.K. to create Britain’s biggest mobile phone network worth around 15 billion pounds ($19 billion).

Persons: Swisscom, Christoph Aeschlimann, Margherita Della Valle, “, ”, Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Vodafone, Fastweb, Vodafone Italia Locations: British, Italy, Hungary, Ghana, London, Zurich

☆ Want to invest in China's booming EV market? These ETFs could offer a good way in
▼ + stars: | 2024-01-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

As China's electric vehicle market goes from strength to strength, investors worldwide are showing a growing interest in getting involved. The chief investment officer singled out BYD , which recently beat Tesla to become the top global EV maker, as a "favorite" car maker, and battery-making giant Contemporary Amperex Technology ( CATL ). But significant hurdles remain for retail investors before they can be part of China's EV growth story. However, the veteran investor pointed out that ETFs with concentrated positions remain viable options for those seeking exposure to the Chinese EV growth potential. The fund also has a 5% position in Chinese EV maker BYD, according to FactSet data.

Persons: Kingsley Jones, Jevons, CNBC's, BYD, Tesla, Kingsley, Li Auto, BATT, Jones, BATT CGRO Organizations: Jevons Global, Technology, BMW, Hyundai, Honda, China EV, Battery Technology, China Growth, BATT, BYD, CNBC, Alpha, CGRO Locations: Hong Kong, China, U.S, Europe, BYD, Australia, Canberra, Xiaomi

"When you see the news of a Wall Street employee or any highly paid professional dying this way, it obviously wakes you up." Wall Street is all about relationships, which often means spending big money to show people a good time. "That's been the Wall Street playbook for many, many years, and I don't think it has changed." On the other side of the coin is Wall Street, where a history of drug use can haunt working professionals for years. AdvertisementLaird thinks Wall Street firms could learn a thing or two from other industries when it comes to their response to addiction.

Persons: Rudy Giuliani, It's, Joe, I'm, Anna Lembke, Streeters, biohacking, Wall, couldn't, Rudolph Giuliani, Getty John Battaglia, Spear, Goldman Sachs, " Battaglia, Goldman, Adderall, Jaime Blaustein, Blaustein, Sylvia Brafman, Zyn, who's, JAMES ARTHUR GEKIERE Denise Shull, hasn't, Shull, —, Artur Widak, they've, Ray Donovan, AGNES BUN, Battaglia, Ross Peet, Betty, Lembke, Leonardo DiCaprio, Paramount Pictures Trey Laird, Laird, Trey, That's, Peet Organizations: Business, New York Times, Wall, psychedelics, Stanford, Addiction, Mental Health Services Administration, Bettmann, Leeds, Kellogg, Sylvia Brafman Mental Health, BI, Citadel, Getty, National Institute on Drug Abuse, Credit Suisse, Traders, Bank of America, New, Betty Ford Foundation, Street, Paramount Pictures, Needham & Co, Treatment, Industry Locations: Manhattan, New York, Brussels, Silicon Valley, California, Arlington , Virginia, New York City, Bank, New Canaan , Connecticut

☆ Why are real estate commissions 6%? – and why that’s about to change
▼ + stars: | 2023-12-03 | by ( Anna Bahney | ) edition.cnn.com time to read: +9 min

Many thought the internet would eventually kill the 6% real estate commission. Even as the ranks of stockbrokers and travel agents have dropped in recent years as commissions petered out, the number of real estate agents has grown and their typical commissions are bigger than ever as home prices have risen. That is largely because of the power of the National Association of Realtors, an influential lobbying group that represents 1.5 million real estate agents. How real estate commissions workHome sellers are usually on the hook for their real estate agent’s commission as well as for paying the agent that represents the buyer. Real estate agents will tell you commissions are negotiable — and they are.

Persons: Sellers, ”, Jordan Barry, “, Tiffany Hagler, won’t, Babiracki Barlow, “ we’ve, Vasi Organizations: DC CNN, Kansas City, Brookings Institution, stockbrokers, National Association of Realtors, University of Southern, National Association of Real, Exchanges, NAR, Association, Geard, Bloomberg, Getty, realtors, Agents, MLS, Department of Justice, DOJ, California Association of Realtors, New, Real, Board Locations: Washington, New York City, University of Southern California, Larchmont , New York, Boston, New York, New York —, York

☆ These global stocks are forming the bullish 'golden cross' signal — and have risen every time in the past
▼ + stars: | 2023-11-30 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

The phenomenon, known as a "golden cross," occurs when a stock's 50-day moving average share price rises above the longer-term 200-day moving average. It comes at a time when the S & P 500 has rallied by nearly 10% from a recent low, and charting analysts expect to see the index rise further . The stocks below are about to signal the golden cross pattern. Canadian stock Descartes Systems rose 7% on average in the month after the golden cross. The stock's price action has shown the golden cross forming seven times over the past decade.

Persons: Kevin Krishnaratne, David Weiss, Shagun Singh, Michael Werner, Hayley Tam Organizations: CNBC, Descartes Systems, Stryker Corporation, Deutsche, Nasdaq, Scotiabank, Stryker, RBC, UBS, CNBC Pro Locations: Canadian, Finland, Denmark, Norway, Sweden, Singapore

☆ Premarket stocks: Charlie Munger’s best quotes on investing, life and everything in between
▼ + stars: | 2023-11-29 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +5 min

New York CNN —Billionaire investor Charlie Munger, vice-chairman of Berkshire Hathaway and long-time friend to Warren Buffett, died on Tuesday. He said ‘if all you have is a hammer, the world looks like a nail.’”Munger, who was worth $2.7 billion according to Forbes, was revered for his pithy and often humorous remarks on investing, life and more. His speeches and writings, compiled in books like “Poor Charlie’s Almanack,” are considered essential reading for anyone interested in business, investing or the art of clear thinking. It looked to me like a kindergarten.” - Berkshire Hathaway meeting, 2018On algorithmic trading:“We have computers with algorithms trading against other computers. Look at it backward.” - Poor Charlie’s AlmanackOn passion:“You’ll do better if you have passion for something in which you have aptitude.

Persons: Charlie Munger, Berkshire Hathaway, Warren Buffett, Munger, ” Whitney Tilson, Buffett, “, ” Munger, Tilson, ”, We’ve, stockbrokers, they’ve, it’s, I’m, Tao, David Clarkhis Organizations: CNN Business, Bell, New York CNN, Berkshire, Forbes, Google, Berkshire Hathaway, USC, Kiplinger, “, Invest, Berkshire Hathaway’s Locations: New York, ”, Berkshire

☆ Dr. Trisha Bailey is the richest Jamaican-born woman. She overcame a lot to get here
▼ + stars: | 2023-11-25 | by ( Jamisha Smith | ) www.businessinsider.com time to read: +6 min

Entrepreneur Dr. Trisha Bailey says despite a youth marked by trauma and poverty, she wouldn't change a single thing about her life. Dr. Bailey was recovering from a suicide attempt when she founded Bailey Medical Equipment & Supply and Pharmacy. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementThis as-told-to essay was based on a conversation with Dr. Trisha Bailey, a billionaire who became the richest woman born in Jamaica. Dr. Trisha Bailey is an entrepreneur who has become the richest Jamaican-born woman.

Persons: Trisha Bailey, Bailey, —, Salomon Smith Barney, Morgan Stanley, Shotby3DPhotography, Oprah Winfrey Organizations: Bailey, & Supply, Pharmacy, Service, University of Connecticut, UCONN, Bailey's, Atlanta Hawks, Charlotte Hornets, Phoenix Suns Locations: Jamaica, Connecticut, America, Florida, United States

3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Two company sources told Reuters that Ma's move had generated a lot of discussion within the company, as did Jiang's post. Alibaba and the Jack Ma Foundation, the philanthropic organization that handles media queries for the billionaire, did not immediately respond to requests for comment. In her internal note, Jiang also repeated comments from Ma's family office shared with the Alibaba-owned newspaper South China Morning Post on Friday that Ma remained "very positive" about Alibaba and that his family trust eventually did not sell a single share. The company has also been grappling with some upheaval in its top ranks, welcoming a new CEO, Eddie Wu, in September.

Persons: Dado, Jack Ma's, Jiang Fang, Jiang, Jack Ma, Ma, Alibaba, Eddie Wu, Daniel Zhang, Casey, Jenny Wang, Brenda Goh, David Evans Organizations: REUTERS, Rights, HK, Reuters, Jack Ma Foundation, China Morning, Casey Hall, Thomson Locations: Rights SHANGHAI, BEIJING, Shanghai, Beijing

LONDON (AP) — Spirits and beer giant Diageo PLC saw billions wiped off its market value on Friday after it warned that a sharp slowdown in its business in Latin America and the Caribbean was hitting sales and potential profits. It blamed a “materially weaker” outlook in Latin America and the Caribbean as a result of “macroeconomic pressures" and customers downtrading to cheaper products. The region accounts for around 11% of Diageo's total sales. The group highlighted that it still expects an improvement in growth in North America, while its businesses in Europe and Asia Pacific witnessed “continued momentum,” though slower than the previous half-year. “It has impacted results for the region since we have stopped trading in some parts," he said.

Persons: Johnnie Walker, Morgan, “, Debra Crew, ” Sophie Lund, Yates, stockbrokers Hargreaves Lansdown Organizations: Diageo PLC, Guinness, Asia Pacific, Diageo, stoke Locations: Latin America, Caribbean, London, America, North America, Europe, Asia, Gaza

☆ Is a Financial Advisor Worth It?
▼ + stars: | 2023-10-24 | by ( Bernice Napach | ) www.wsj.com time to read: +12 min

The right financial advisor can help you find the right answers to your life’s biggest, most difficult financial decisions. A one-time feeIf all you need is a comprehensive financial plan—a look at how your current savings, including your 401(k) and investments stack up—you don’t need to retain a financial advisor. When a financial advisor may be worth the costA financial advisor is worth paying for if they provide help you need, whether because you don’t have the time or financial acumen or you simply don’t want to deal with your finances. You want reassurancePlenty of investors work with a financial advisor for less tangible reasons too. ”It’s important that you get quality fiduciary advice on all those subjects because they’re irrevocable.”When a financial advisor probably isn’t worth the costThere are several financial areas where paying for a financial advisor may not be worth the cost, especially if you are willing to do a little basic research and have the discipline to stick to your goals.

Persons: Bernice Napach, ”, Rick Ferri, Read, it’s, that’s, won’t, Fee, Micah Hauptman, Peter Palion, —, “ They’re, ” Sheryl Garrett, Eric Amzalag Organizations: Vanguard, Ferri Investment Solutions, Investment, Consumer, Consumer Federation of America, IRS, Advisors, Garrett Planning Network, Peak Financial Locations: Georgetown , Texas, East Norwich, N.Y, Los Angeles

☆ Ireland hikes bank levy to 200 mln euros, revises methodology
▼ + stars: | 2023-10-10 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Clodagh Kilcoyne/ File Photo Acquire Licensing RightsDUBLIN, Oct 10 (Reuters) - Ireland will revise how it calculates its levy on banks after announcing plans to raise 200 million euros ($211.7 million) from the measure next year, up from 87 million euros in 2023, Finance Minister Michael McGrath said on Tuesday. The share paid by the remaining three banks is based on the amount of deposit interest retention tax (DIRT) each pay. McGrath told a news conference that the basis of the levy will change to being related to the value of a lender's deposits. Analysts at Davy Stockbrokers had said that an increase to 200 million euros based on the existing DIRT would have had an outsized impact on Permanent TSB (PTSB.I), relative to its larger rivals AIB (AIBG.I) and Bank of Ireland (BIRG.I). Davy estimated that the incremental impact from an increase based on retail or household deposits would be in the range of 2-3% of 2024 profit before tax across all three banks, based on its current forecasts.

Persons: Finance Paschal Donohoe, Michael McGrath, Clodagh, McGrath, Davy Stockbrokers, Davy, Padraic Halpin, William Schomberg, Mark Heinrich Our Organizations: Finance, Public Expenditure, REUTERS, Rights, TSB, AIB, Bank of Ireland, Thomson Locations: Dublin, Ireland, LONDON

The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company's IPO in New York City, U.S., July 29, 2021. The Massachusetts Supreme Judiciary Court reversed a lower-court judge's decision in favor of Robinhood in a lawsuit it filed after Massachusetts Secretary of State Bill Galvin in 2020 accused it of encouraging inexperienced investors to place risky trades. Galvin is seeking to have Robinhood's state broker-dealer license revoked. She noted that Galvin deemed the rule necessary "to protect investors confused by the increasingly blurred line between broker-dealers providing investment advice and investment advisers." "The rule that has been upheld by the Supreme Judicial Court today will give the highest protections to Massachusetts investors when brokers provide investment advice," Galvin, a Democrat, said in a statement.

Persons: Andrew Kelly, Bill Galvin, Galvin, Lucas Moskowitz, Robinhood's, Robinhood, stockbrokers, Dalila Wendlandt, Galvin permissibly, Nate Raymond, Jonathan Oatis, Alexia Garamfalvi Organizations: Inc, REUTERS, BOSTON, Court, U.S . Securities, Exchange Commission, Robinhood, Menlo, Thomson Locations: New York City, U.S, Massachusetts, Menlo Park , California, Friday's, Boston

☆ This high-risk global bond fund isn't for everyone, but it's tempting investors with a 10% yield
▼ + stars: | 2023-07-19 | by ( Ganesh Rao | ) www.cnbc.com time to read: +6 min

For global investors, the Abrdn Frontier Markets Bond Fund is one example of a fund offering substantial returns. What are frontier markets? While there is no formal definition, frontier markets are typically low-income, developing countries with underdeveloped capital markets, according to Daly. Investment director for emerging market debt, Abrdn Kevin Daly The appeal of these frontier markets is twofold, according to Daly. Managing FX risks Managing foreign exchange risk is tricky in frontier markets, where hedging instruments are often inefficient or unavailable.

Persons: Kevin Daly, Daly, Fitch, You've, who's, … Organizations: Markets Bond, CNBC Pro, Monetary Fund, Bank Locations: U.S, Abrdn, Nigeria, Kenya, Iraq, Ecuador, Uzbekistan, Mozambique, Daly, Benin, African, Europe, South Korea, Singapore, Taiwan, stockbrokers

☆ India's Angel One Q1 profit rises 22% as orders surge
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +1 min

BENGALURU, July 13 (Reuters) - Indian stockbroker Angel One Ltd (ANGO.NS) said on Thursday its first-quarter profit jumped almost 22%, led by surging client additions and orders. Consolidated profit was 2.21 billion rupees ($27 million) for the quarter ended June 30, compared with 1.82 billion rupees a year ago. Total revenue from operations climbed nearly 18% to 8.08 billion rupees. The company, which offers various trading apps, said its total client base rose about 45% to 15.1 million, while the total number of orders advanced more than 20%. Angel One held a 12.5% share in the number of demat accounts in India in the June quarter, up from 10.8% last year.

Persons: Angel, Manvi Pant, Kashish Tandon, Dhanya Ann Thoppil Organizations: Angel One, Consolidated, NSE, BSE, Angel, Thomson Locations: BENGALURU, India, Bengaluru

☆ Sri Lanka's economy shrinks 11.5% in first quarter as financial crisis continues
▼ + stars: | 2023-06-15 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, June 15 (Reuters) - Sri Lanka's economy (LKGDP=ECI) shrank 11.5% in the first three months of 2023, official data showed on Thursday, as the country remained in the grip of its worst financial crisis in decades. Sri Lanka's central bank projects that GDP will shrink by 2% this year while the International Monetary Fund (IMF) estimates a contraction of 3%. "A pickup in private sector credit will be a growth positive and credit growth will increase over the next six to nine months," Cooray added. Sri Lanka's economy contracted by a record 7.8% last year after its foreign exchange reserves hit record lows, plunging the island into the worst financial crisis since it gained Independence from the British in 1948. But Sri Lanka still needs to complete debt restructuring talks by September in time for the first IMF review.

Persons: ”, Shehan Cooray, Cooray, Uditha, John Stonestreet, Susan Fenton Organizations: Statistics Department, Sri, International Monetary Fund, Thomson Locations: COLOMBO, Sri Lanka's, Sri, Sri Lanka

☆ Sri Lanka c.bank to hold rates as inflation stays high
▼ + stars: | 2023-05-30 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

COLOMBO, May 30 (Reuters) - Sri Lanka's central bank is expected to keep rates unchanged at its policy meeting this week as it continues to support the debt-laden economy amid persistently high inflation. Sri Lanka secured a $2.9 billion bailout from the International Monetary Fund (IMF) in March and aims to complete restructuring debt talks by September. Thirteen out of the fifteen analysts and economists polled by Reuters expect the Central Bank of Sri Lanka (CBSL) to hold benchmark rates steady on Thursday, at its fourth policy rate announcement this year. The central bank raised rates by a record 950 basis points last year to tame inflation and by 100 bps on March 3. The first review of its IMF programme is expected in September and Sri Lanka plans for it to coincide with the completion of debt restructuring talks with creditors.

☆ Mothers may know best when it comes to money
▼ + stars: | 2023-05-10 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

For Mother's Day, we asked a few business leaders about the best money advice they ever got from their moms. Founder & chief investment officer, Ariel Investments"My mom was Deputy Solicitor General, and was a pioneer in serving on corporate boards. "When I started Ariel in 1983, when I was 24, my mom gave me whatever liquid cash she had. We can't always control how much money we make, but we can control maximizing the value of the things we already have." "The best financial advice my mom gave me was to be financially minded at a young age.

☆ The world’s most decorated skier won $1 million in prize money this year—why she plans to invest like Warren Buffett
▼ + stars: | 2023-03-24 | by ( Megan Sauer | ) www.cnbc.com time to read: +3 min

Instead, she patterns her money strategy after Warren Buffett. "I'm not necessarily playing the market on a daily basis, but I come from a Warren Buffett strategy. Instead, buy stock if you believe in the company, and don't be afraid to buy more when the price falls or sell when it's high. The best part about the tactic: It alleviates some of the pressure of trying to predict the stock market, Buffett noted. "Buy stock in several companies that make products [and] services that you believe in.

☆ Analysis: Australia's DIY pension funds lose millions on crypto bets, investors not sweating it
▼ + stars: | 2023-03-02 | by ( Lewis Jackson | ) www.reuters.com time to read: +6 min

Summary Thousands of Australians use DIY pension funds to buy cryptoLosses likely in the hundreds of millions -Reuters calculationAustralia has few rules governing what DIY funds can buySYDNEY, March 2 (Reuters) - Thousands of Australians who used do-it-yourself (DIY) pension funds to bet on cryptocurrencies face hundreds of millions of dollars in losses, jeopardising their savings in a scheme originally set up to ensure adequate retirement income. DIY pension funds account for a fourth of Australia's A$3.4 trillion ($2.29 trillion) pension pool. Australia's DIY pension sector combines size and freedom in a way that sets it apart from other countries. The United States also has a freewheeling DIY pension sector but take-up is negligible. "Our general position is if it's legal to invest in speculative assets, then no further restrictions should apply to SMSF investments."

☆ Profits, guidance up at Ireland's PTSB on NatWest loan deal
▼ + stars: | 2023-03-01 | by ( ) www.reuters.com time to read: +2 min

DUBLIN, March 1 (Reuters) - Ireland's permanent tsb (PTSB) (IL0A.I) posted a jump in annual profit on Wednesday reflecting what it has called its "once-in-a-generation" purchase of loans from rival Ulster Bank. It posted a profit before tax of 267 million euros for 2022 versus a loss of 21 million euros a year earlier. Some 222 million euros of that arose primarily from taking on Ulster's mortgage and SME loan books, it said. Analysts at Davy Stockbrokers said the guidance indicated low- to mid-teen percentage upside to its forecasts and that the pace of European Central Bank interest rate rises could result in further upside. NatWest took a 17% share in PTSB as part of the loans deal, diluting the Irish government's holding to 62%.

☆ Revisiting JPMorgan’s innovative Cazenove deal
▼ + stars: | 2023-02-24 | by ( Peter Thal Larsen | ) www.reuters.com time to read: +6 min

JPMorgan avoided most of these problems by structuring its deal as a joint venture with Cazenove. Though the corporate entity called JPMorgan Cazenove was quietly wound down a few years ago, the name still graces the U.S. group’s UK banking business. At the time of the JPMorgan deal, Cazenove acted as broker to almost half of the companies in the FTSE 100 Index (.FTSE). By 2009, the enlarged business reported a pre-tax profit of 280 million pounds. The Cazenove deal still stands as a case study of how to buy an investment bank without destroying it.

☆ Australian stock exchange's blockchain failure burns market trust
▼ + stars: | 2022-12-20 | by ( Byron Kaye | ) www.reuters.com time to read: +11 min

That 96% of that software is working," Hogben told a Stockbrokers and Investment Advisers Association conference, in footage seen by Reuters. More than a dozen brokers, other market participants and people directly involved in the blockchain project told Reuters the failure had shaken trust in the Australian exchange operator. After New York startup Digital Asset Holdings showed ASX executives a test transaction on its blockchain software, ASX in early 2016 signed the little-known company to begin exploratory work on an overhaul. From an initial plan to run about 12 of CHESS's 400 data transfers per transaction on blockchain, ASX decided the new system would include all 400 transfers, the person said. Its spokesperson told Reuters there was "no off-the-shelf solution available to meet the needs of the Australian market".

☆ You Don’t Know What You Don’t Know About Your Financial Adviser
▼ + stars: | 2022-11-04 | by ( Jason Zweig | ) www.wsj.com time to read: 1 min

Stocks and bonds crumbled again this week, and inflation seems unstoppable. Maybe it’s time to hire a financial adviser. After all, for years people like me have been telling you that advisers have to disclose much more about themselves than stockbrokers do, so you can make better-informed decisions about their services and integrity.

☆ Health insurance open enrollment: How to spot misleading marketing for insurance
▼ + stars: | 2022-11-01 | by ( Bram Sable-Smith | Kaiser Health News | ) www.nbcnews.com time to read: +9 min

Health care sharing ministries are an alternative to health insurance in which members agree to share medical expenses. Nationwide, lawmakers and regulators are taking notice of how health care plans are sold. Rising health care prices can drive up the cost of regulated health plans, such as those that are compliant with the Affordable Care Act. For now, he suggests working with health care navigators, who help consumers enroll in plans through the official health insurance marketplace, healthcare.gov. She is on the market for health insurance again and plans to choose a company she’s heard of before.

☆ IHC's $2.15 bln Nutresa bid boosts shares in Colombian conglomerate GEA's companies
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +3 min

IHC's bid is the latest in a long-running saga of moves to snap up stakes in GEA companies. Shares in investment holding company Grupo SURA (SIS.CN), the jewel in GEA's crown which owns the largest stake in Nutresa, rose almost 7% in the morning session. IHC is a partner of the Gilinski Group, stockbrokers told Reuters. If the latest bid is successful, Grupo Gilinski will become Nutresa's largest shareholder. Gilinski Group also secured a 38% stake in Grupo SURA following several bids and transactions last year.

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