Stocks in Europe Edge Higher

Jan. 14, 2021 3:41 am ET In Europe, the Stoxx Europe 600 climbed 0.4% in morning trade. Industrials and energy sectors led gains while communication services and information technology sectors lost ground. Shares in Capita rose 3.5% and Rotork added 2.8%. The Sage Group slipped 2.3%, posting its fourth consecutive session of declines. The U.K.’s FTSE 100, which is dominated by large international businesses, edged up 0.3%. Other stocks in Europe also mostly climbed. The U.K.’s FTSE 250 gained 0.3%, and Germany’s DAX added 0.5%. The British pound strengthened 0.2% against the U.S. dollar, with 1 pound buying $1.37. Meanwhile, the […]

Continue reading

EIU report: Vietnam rises as an alternative to China, beating India

For instance, the EU-Vietnam FTA offers footwear manufacturers in Hanoi the biggest gain. Around 40% of exports to the EU in this category faced 30% tariffs, which were reduced to 0% from August 2020. Vietnam has emerged as a low-cost manufacturing base in Asian supply chains, beating India and even China in indicators, including foreign direct investment (FDI) policy and foreign trade and exchange controls, according to the Economist Intelligence Unit (EIU). In fact, Vietnam’s rise as an alternative manufacturing hub to China predates a trade war between Washington and Beijing in recent years, it says in a report. Vietnam’s incentives […]

Continue reading

WSJ News Exclusive | Jane Fraser Puts Mark on Citigroup With Overhaul of Wealth Businesses

Citigroup Inc. is restructuring its businesses that manage money for wealthy customers, one of the first big moves by incoming chief executiveJane Fraser to put her stamp on the bank. The New York bank is combining into a new unit its high-end private bank for the ultrarich and its wealth-management offerings for the less affluent, Ms. Fraser and outgoing CEO Michael Corbat said in a memo to employees Wednesday. Until now, Citigroup ’s private bank—which serves clients with more than $25 million in assets—was run by the bank’s institutional clients group. The consumer wealth operations, including the CitiGold brand, were managed […]

Continue reading

Supreme Court Case Tests FTC’s Powers to Recoup Ill-Gotten Gains

WASHINGTON—Supreme Court justices voiced mixed views Wednesday about whether a U.S. consumer-protection agency has broad authority to demand that defendants who cheat or deceive the public must return the money they gain from that activity. Justices across the ideological spectrum acknowledged that the Federal Trade Commission for decades has been going to court to seek financial redress from companies and individuals who allegedly engage in scams and unfair business practices. And until recent years, lower courts had uniformly ruled that the FTC had the power to do so. But many of the same justices also suggested the text of the relevant […]

Continue reading

Pace of economic recovery will depend on the degree of vaccine rollout: BofA Securities

“We are looking at a 50 basis point cut in the repo rate for 2021 and we are looking at a 100 basis point hike in interest rate in FY23,” said Indranil Sen Gupta, India economist, BofA Securities. India’s economic growth is expected to grow at 9% for FY22, if the vaccine is rolled out in the first half of CY21 and 5.5% for FY23, BofA Securities said in its report. The pace of economic recovery and strength of the recovery will depend on the degree of the Covid-19 vaccine rollout. The brokerage stated that if the vaccine is rolled out […]

Continue reading

Affirm Shares Skyrocket in Trading Debut

Shares of Affirm Holdings Inc. surged in the company’s trading debut Wednesday. The buy-now, pay-later fintech firm, trading on the Nasdaq under the symbol AFRM, jumped as high as $103 shortly after it began trading around midday, far above its initial offering price of $49. The enthusiastic reception for Affirm shares could indicate that 2021 will be similar to 2020. That was the most lucrative year on record for public offerings in terms of money raised, driven in part by the success of companies like DoorDash Inc. that have benefited during the pandemic from the stay-at-home economy. Still, extreme first-day pops […]

Continue reading

What is Margin Investing?

It is easier than ever to buy securities. During periods of volatility in financial markets, it can be tempting to dive right in. But there are times when an investor might not have enough cash when a buying opportunity emerges.  Margin investing is the practice of borrowing money from a brokerage firm to make investments. Traders tap this to increase buying power, and then pay the sum borrowed back at a later date of their choosing. But the practice comes with significant risks and steep losses can accumulate quickly. That means inexperienced investors should take caution. What is margin trading?  When […]

Continue reading

WSJ News Exclusive | Americans Won’t Be Banned From Investing in Alibaba, Tencent and Baidu

The U.S. government is expected to let Americans continue to invest in Chinese technology giants Alibaba Group Holding Ltd. , Tencent Holdings Ltd. and Baidu Inc., after weighing the firms’ alleged ties to China’s military against the potential economic impact of banning them. New York-listed Alibaba and Baidu, and Hong Kong-listed Tencent, were among a dozen companies being examined for inclusion in a Defense Department list of firms deemed to support China’s military, intelligence and security services, according to people familiar with the matter. U.S. investors have until November to divest their holdings of any firm on the list. The U.S. […]

Continue reading

Intel’s New Chief Has No Quick Fix

Intel Corp. has returned to form with its new boss. But in many other ways, there may be no going back for the storied chip maker. Intel announced Wednesday that Pat Gelsinger will take over the chief executive’s reins from Bob Swan, who’s effectively held the position for just two and a half years. That’s the shortest run of any Intel chief—about half the time of his immediate predecessor who was booted from the company following the discovery of an affair with a subordinate. Mr. Swan’s tenure was marked less by scandal and more by the other major problem he inherited—the […]

Continue reading