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That makes the business less than half the size of Bank of America Corp's (BAC.N) Merrill Wealth Management arm, the $18-billion behemoth Sieg ran until he left last month. Another challenge is that Citi has historically been undersized and a bit of a laggard in the space...especially in the wealth business where it’s all about existing relationships." In some ways, Citigroup is playing catchup after selling its old wealth business, Smith Barney, a decade ago to Morgan Stanley, which then leaned heavily into wealth management. That bet paid off - Morgan Stanley's wealth unit, led by Andy Saperstein, brought in record revenue last year. Two years ago, Citigroup unified its various wealth businesses into a single organization led by Jim O'Donnell that included its private bank and personal wealth division.

☆ Fact Check-Fabricated Eric Trump tweet calling for the cancellation of Easter was created as satire
▼ + stars: | 2023-04-13 | by ( Reuters Fact Check | ) www.reuters.com time to read: +1 min

A screenshot posted on Twitter appears to show a tweet by former U.S. President Donald Trump’s son Eric calling for Easter to be cancelled until the “witch hunt” against his father is stopped. The purported tweet is dated April 9, 2023, and reads: “If my father was President he would immediately CANCEL EASTER until the WITCH HUNT was stopped! No such tweet was found on Eric Trump’s Twitter account (www.tinyurl.com/49jp7wec), and searches show that no news outlets reported on the purported tweet (www.tinyurl.com/s52rcj8j). He and his followers have previously referred to these legal troubles as a “witch hunt” (here). Eric Trump did not post a tweet calling for the cancellation of Easter.

[1/2] A sign urging voters to reject a state constitutional amendment declaring there is no right to abortion is seen during the primary election and abortion referendum at a Wyandotte County polling station in Kansas City, Kansas, U.S. August 2, 2022. Opponents say the bill undermines the will of Kansas voters who in an August statewide referendum rejected by nearly 60% a state constitutional amendment that would have declared there was no right to abortion. A similar bill failed in Kansas in 2019 after its Republican supporters narrowly failed to get the two-thirds majority needed to overcome Kelly's veto in the state House. The Kansas legislature earlier this week approved a bill creating new punishments for doctors accused of not providing sufficient care to infants that are delivered alive during an abortion. The bill has veto-proof majorities in both houses, but it could still be challenged and overturned in court.

☆ TD world's most shorted banking stock, shares down -ORTEX data
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

Around 4.1% of TD's outstanding shares were out on loan to hedge funds, while the second-most shorted bank stock, JP Morgan , only had $2.3 billion worth of shorts, showed the data. Hedge funds profit when they borrow a stock from an institutional investor and sell it back when the price falls, pocketing the difference, a practice known as short-selling. Turmoil in the banking sector began last month with the collapse of regional banks Silicon Valley Bank and Signature Bank, sparking a crisis of confidence. TD shares are down 15.7% since the beginning of the regional bank crisis and down 3.4% this week. Around 2.9% of BMO's outstanding shares were out on loan to hedge funds, or about $1.8 billion.

☆ Debt ceiling negotiations could be different this time around, says former House Majority leader
▼ + stars: | 2023-04-05 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDebt ceiling negotiations could be different this time around, says former House Majority leaderEric Cantor, Moelis & Co. vice chairman and former House Majority leader, joins 'Squawk Box' to discuss the real challenges for the economy, why the debt limit debate could be different than years prior and more.

☆ TD world's most shorted banking stock, ORTEX data shows; shares fall
▼ + stars: | 2023-04-05 | by ( Maiya Keidan | ) www.reuters.com time to read: +2 min

☆ NHL roundup: Bruins top Blues, reach historic 60-win mark
▼ + stars: | 2023-04-03 | by ( ) www.reuters.com time to read: +6 min

[1/5] Apr 2, 2023; St. Louis, Missouri, USA; Boston Bruins center Trent Frederic (11) takes the face-off against St. Louis Blues right wing Kasperi Kapanen (42) during the first period at Enterprise Center. St. Louis (35-35-7, 77 points) was eliminated from playoff contention with the result. The Blues received two goals from Jordan Kyrou, the second of which made it a 3-3 game with 25 seconds remaining in regulation. Brayden Schenn assisted on all three St. Louis goals. St. Louis native Trent Frederic collected two assists and Linus Ullmark recorded 35 saves.

☆ Morningstar: Buy these 10 cheap stocks that will maintain higher-than-average dividends as a looming economic slowdown makes it even harder to find strong returns
▼ + stars: | 2023-04-01 | by ( Lisa Kailai Han | ) www.businessinsider.com time to read: +4 min

But dividend-paying stocks provide stable and consistent cash flow, even during downturns. Morningstar analysts shared 10 top undervalued stocks to buy for long-term cash flow. 10 cheap dividend-paying stocks to buyWhen faced with a looming economic downturn, one traditional strategy for investors to use to hedge recessionary risks is to buy dividend-paying stocks. "Price risk remains elevated, as does the risk that companies may not be able to maintain current dividends due to economic strain." Below is the full list of top dividend-paying stocks identified by Shetty and Compton, along with each company's ticker and market capitalization.

☆ Foxconn founder Gou, possible Taiwan presidential candidate, to visit US
▼ + stars: | 2023-03-27 | by ( ) www.reuters.com time to read: +2 min

TAIPEI, March 27 (Reuters) - Terry Gou, the billionaire founder of major Apple Inc (AAPL.O) supplier Foxconn (2317.TW), will visit the United States this week, his office said on Monday, as he considers another run for Taiwan's presidency. Gou will leave for the United States on Monday evening for a 12-day visit his office called a "journey of scientific and technological economic development" and will also speak at the Washington think-tank, the Brookings Institution. "Not only the United States, but also other major democratic allies have been gradually paying attention to security issues in the Asia-Pacific region," his office said in a statement. Taiwanese presidential candidates traditionally go to the United States before elections given Washington's oversized role in ensuring Taiwan's security in the face of China's military threats to the island Beijing views as Chinese territory. While Gou has said he is considering another run for the January 2024 presidential election, the KMT has yet to choose its presidential candidate.

☆ NHL roundup: Bruins lock down Atlantic Division title
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +11 min

Hathaway has scored three goals since joining the Bruins in late February, two of which have been go-ahead tallies. Linus Ullmark made 11 of his 26 saves in the third period, improving to 11-1-0 in his last 12 starts. For the Lightning, Victor Hedman scored the lone goal and Andrei Vasilevskiy was credited with 32 saves. Leon Draisaitl had a goal and an assist, and Zach Hyman and Warren Foegele also scored for Edmonton. Ottawa captain Brady Tkachuk scored his seventh goal in seven games and Mark Kastelic and defenseman Thomas Chabot also tallied.

In court papers, Sanderson said he suffered "permanent traumatic brain injury" as a result of the collision. Paltrow said that is when they both fell to the ground with Paltrow on top of Sanderson, in a heap of skis and limbs. Gwyneth Paltrow testifies during her ski crash trial, in Park City, Utah, U.S., March 24, 2023. Paltrow, who said she was upset and cursed at Sanderson after the collision, said she did not ski off until after Sanderson told Christiansen that he was fine. "I did not cause the accident, so I cannot be at fault for anything that subsequently happened to him," Paltrow said.

☆ TikTok CEO set for grilling in House hearing. But U.S. lawmakers also face questions
▼ + stars: | 2023-03-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +15 min

U.S. tech platforms including Meta's Facebook and Instagram, Google's YouTube , Twitter and Snap's Snapchat have raised similar fears for lawmakers and users. Evaluating a potential banThere's little appetite in Washington to accept the potential risks that TikTok's ownership by Chinese company ByteDance poses to U.S. national security. The interagency panel tasked with reviewing national security risks stemming from ByteDance's ownership has threatened a ban if the company won't sell its stake in the app. Trahan said members should ask about national security risks of the app, but those questions should be substantive. Bowman noted lawmakers haven't received a bipartisan congressional briefing from the administration on national security risks stemming from TikTok.

☆ The Manhattan DA's likely case against Trump would be far from a 'slam dunk conviction'
▼ + stars: | 2023-03-23 | by ( Sonam Sheth | ) www.businessinsider.com time to read: +8 min

New York state prosecutors have never brought an election law case involving a federal campaign, per NYT. If the DA's office brings a criminal case against Trump, it would be far from a "slam dunk conviction," one ex-prosecutor said. Among the charges Trump could face is violating New York's business records statute, which bars individuals from falsifying business records with an intent to defraud. Some legal experts have pointed out that New York has a long history of bringing felony prosecutions based on falsifying business records. If Trump is charged with falsifying business records, "expect to see this defense."

☆ France's Macron faces another test with parliamentary votes on Monday
▼ + stars: | 2023-03-19 | by ( Dominique Vidalon | ) www.reuters.com time to read: +3 min

However, while Monday's votes may put on display anger at Macron's government, they are unlikely to bring it down. Opposition lawmakers filed two motions of no-confidence in parliament on Friday. Centrist group Liot proposed a multiparty no-confidence motion, which was co-signed by the far-left Nupes alliance. Hours later, France's far-right National Rally party, which has 88 National Assembly members, also filed a no-confidence motion. None of them had sponsored the first no-confidence motion filed on Friday.

☆ NHL roundup: Bruins bounce Rangers for 10th straight win
▼ + stars: | 2023-03-05 | by ( ) www.reuters.com time to read: +9 min

At the end of a board battle behind Elliott in the second period, Hinostroza one-timed his second goal off a pass from Casey Mittelstadt at 5:35 for Buffalo's first lead. Captain Dylan Larkin scored in the second period and Magnus Hellberg made 32 saves for the Red Wings, who have lost five straight games (0-4-1). Bennett, who had missed six straight games, scored one goal. Capitals 8, Sharks 3Craig Smith scored twice in Washington's four-goal second period and the visitors rallied for a win against San Jose. Predators 3, Blackhawks 1Philip Tomasino, Tyson Barrie and Colton Sissons scored for visiting Nashville in a win against Chicago.

☆ Goldman Sachs' investor day led to more questions than answers
▼ + stars: | 2023-03-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

David Solomon at Goldman Sachs' 2023 investor day. All eyes were on Goldman Sachs yesterday as the bank held its second-ever investor day. The biggest news of the day was Solomon, along with other key executives, acknowledging the bank was exploring "strategic alternatives" for its consumer business. Hinting at "strategic alternatives" was something people would want to hear more about. And click here to read more about Goldman exploring "strategic alternatives" for its consumer biz.

☆ DeSantis accuses congressional Republicans of 'flagrantly' ignoring voters on immigration, leading to Trump election: Book
▼ + stars: | 2023-02-28 | by ( Kimberly Leonard | ) www.businessinsider.com time to read: +4 min

DeSantis criticized congressional Republicans over the issue of immigration in his new book. Ron DeSantis reserves some of his most scathing criticism of congressional Republicans for how the party has handled the issue of immigration. The election was largely decided on the issue of immigration, with Brat accusing his opponent of being too soft on the issue. DeSantis has publicly criticized his own party on illegal immigration before, saying they were too much talk and not enough action. Hispanic voters in Florida went overwhelmingly for DeSantis during his reelection in November — by 14% — over Democratic challenger former Rep. Charlie Crist.

☆ Reflecting sunlight to cool the Earth must be studied before climate change gets much worse, urges group of 60 scientists
▼ + stars: | 2023-02-27 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +7 min

Greenhouse gas emissions must be immediately and urgently reduced, as that's the only permanent way to limit global warming. "Even with aggressive action to reduce GHG emissions it is increasingly unlikely that climate warming will remain below 1.5-2°C in the near term," the scientists wrote. "Aerosols from human activities are currently estimated to be offsetting about a third of greenhouse gas climate warming," the scientists wrote. Cirrus cloud thinning, CCT, which involves putting aerosols into cirrus clouds to reduce the amount of infrared radiation that the Earth retains. In some cases, they might be less harmful if used in some combination, the scientists wrote.

☆ Warner Bros. Discovery sues Paramount over 'South Park' streaming rights
▼ + stars: | 2023-02-24 | by ( Lillian Rizzo | ) www.cnbc.com time to read: +4 min

Warner Bros. Discovery sued Paramount Global looking to enforce the streaming rights of "South Park," setting the stage for a legal battle between two media behemoths as the streaming wars intensify. Discovery filed a lawsuit against Paramount, South Park Digital Studios and MTV Entertainment seeking hundreds of millions of dollars for what it believes was a breach of contract. During the bidding process for the "South Park" rights, the filing said, Paramount allegedly asked whether Warner Bros. Discovery plans to launch a combined HBO Max and Discovery+ streaming service this spring.

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. In 2021, the China business paid Arm about $500 million, the two sources said. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment.

Arm technology powers most global smartphones and the company counts Apple Inc (AAPL.O) and Qualcomm Inc (QCOM.O) as customers. The China business is the exclusive distributor of Arm chip technology in China and develops and sells its own chip designs based on Arm. “The Arm Ltd IP business part of Arm China is performing very well and we are positioned for continued growth going forward. SoftBank and Arm China did not respond to requests for comment. Wu is credited with expanding the China business, according to two sources familiar with the company.

☆ NHL roundup: Auston Matthews' return boosts Leafs
▼ + stars: | 2023-02-16 | by ( ) www.reuters.com time to read: +4 min

[1/6] Feb 15, 2023; Toronto, Ontario, CAN; Toronto Maple Leafs right wing William Nylander (88) battles for the puck with Chicago Blackhawks defenseman Caleb Jones (82) in front of Blackhawks goaltender Petr Mrazek (34) during the third period at Scotiabank Arena. Mandatory Credit: Nick Turchiaro-USA TODAY SportsFebruary 16 - Auston Matthews had a goal and an assist in his return after missing five games with a sprained knee, helping the Toronto Maple Leafs earn a 5-2 win over the visiting Chicago Blackhawks on Wednesday night. The Maple Leafs went 2-3-0 while Matthews was out. Conor Timmins added a goal, and the Maple Leafs goalie Ilya Samsonov made 27 saves. Lazar and defenseman Oliver Ekman-Larsson left due to lower-body injuries, and goalie Arturs Silovs stopped 22 shots in his NHL debut.

☆ The most dangerous cruise routes, ports, and destinations are in parts of the world where conditions are unpredictable — and help is nowhere nearby, travel analysts say
▼ + stars: | 2023-02-16 | by ( Erin Snodgrass | ) www.businessinsider.com time to read: +10 min

But some cruise destinations and routes are prone to dangerous conditions and risky activity. These are some of the most dangerous cruise locations around the world. AntarcticaThe world's southernmost continent is among the most beautiful — and dangerous — cruise destinations, according to Chiron and Klein. Cruise passengers during a lifeboat drill in the Northwest Passage near Nunavut, Canada. National Park Service via APCruise lines avoid dangerous portsWhile rough seas and high winds can make ocean travel dangerous, uncertainties on land pose their own risks for visitors.

Taipei/Hong Kong CNN —Shares in Taiwan Semiconductor Manufacturing Company fell as much as 4% on Wednesday, after Warren Buffett’s Berkshire Hathaway disclosed that it had sold most of its holdings in the chip giant. Just months before, in November, the company held about 60 million American depository shares of TSMC worth $4.1 billion, according to an SEC filing. Berkshire Hathaway did not provide a reason for the sale and did not immediately respond to a CNN request for comment. Shares in TSMC, which accounts for an estimated 90% of the world’s super-advanced computer chips, ended Wednesday more than 3% lower. TSMC announced last year that it’s building a second semiconductor factory in Phoenix and increasing its investment there.

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