The Makings of a Second Trump Economic and Financial Boom
Why Trump's underdog status is good for the economy Trump's second term as president is likely to be in full swing explosive economic growth That could surprise financial markets and Fed officials. This conclusion comes from reading surveys of voters, consumers, and businesses in recent weeks, and the uncertainty surrounding the election, and even Vice […]
Andrea Orcel, the ambitious UniCredit chief eyeing his next deal – Financial Times
Unlock Editor's Digest for free FT editor Roula Khalaf has chosen her favorite stories in this weekly newsletter. Back in the 1980s, Andrea Orcel's university thesis was on hostile takeovers. Almost 40 years later, the ambitious UniCredit boss finds himself at the center of the biggest European banking drama in years, as he closes out […]
Warren investigation blasts financial adviser perks as fiduciary reforms stall
Financial advisors have long been required to avoid conflicts of interest and act as “fiduciaries,” meaning they must act in their clients' best interests first and foremost. but New Research An investigation by the office of Sen. Elizabeth Warren (D-Mass.) found a “deeply disturbing pattern of secret incentives and compensation” for advisers, including: Expensive travel […]
New bill would prohibit US financial aid to Afghanistan until wrongfully detained Americans are released
Under a new bill drafted by the House of Representatives, American taxpayer money would not be used to fund aid for Afghanistan until “wrongfully detained” Americans are released. The No Freedom, No Funding Act would also require the State Department to provide regular updates on U.S. citizens who are unlawfully detained. Republican Rep. Dan Meuser […]
Bank of America Plans 165 Branch Openings to Serve Clients With ‘Complex Financial Needs’ – PYMNTS.com
Bank of America Bank of America plans to open dozens of branches over the next two years. About 40 of those openings are expected to take place this year, according to Monday's (Sept. 23) survey. press releaseThe goal is to add more than 165 “financial centers” across 63 markets by the end of 2026. This […]
Andrea Orcel, Commerzbank and the redemption trade – Financial Times
Get your free copy of Editor's Digest FT editor Roula Khalaf picks her favourite stories in this weekly newsletter. It's been 17 years since the last major European cross-border banking deal, so it's only natural that the architects of that deal would lead the next one. In 2007, Andrea Orcel was a financial institutions banker […]
Investment Giant Franklin Templeton Building On-Chain Financial Services for Regulated Securities on Solana – The Daily Hodl
Financial services giant Franklin Templeton has announced that it is building a money fund for regulated securities on smart contract platform Solana (SOL). Speaking during a session during the Solana Breakpoint 2024 event, Mike Reed, head of digital asset partnership development at Franklin Templeton, said the investment giant's final step in completing the project is […]
Congress Debuts Bill to Pressure Financial Institutions Not to Fund Chinese Slavery
Sens. Marco Rubio (R-Fla.) and Jeff Merkley (D-Ore.) introduced legislation on Thursday that would require the Treasury Department to use U.S. representatives at international organizations to pressure those organizations not to fund slavery around the world, particularly the Chinese government's genocidal slavery of the Uighur people. The Forced Labor Funding Prohibition Law specifically addresses the […]
Young, rich investors are making 2 key mistakes, says CFP and financial psychologist: They'll 'learn the hard way' – CNBC
If you want to build wealth, traditional investment methods won't get you there — at least according to young, wealthy people. Among 21-43 year olds with at least $3 million in investable assets, only 28% said they could earn above-average returns from stocks and bonds. 2024 Bank of America Private Bank High Net Worth Americans […]
Firms jostle to sell alternative assets to wealthy investors – Financial Times
The race is on to sell unlisted assets to wealthy private investors. Leading custody bank BNY on Monday announced plans for a platform that will make it easier for financial advisers to buy and manage investments across a range of well-known private equity, private debt and infrastructure companies for their clients. This follows three highly […]