The new head of China’s banking regulator pledged to crack down on shadow lending by working more closely with other authorities and drafting rules to rein in risks stemming from the expansion of wealth-management products. “Banks, trusts, fund-management firms, brokerages and insurers all have asset-management operations, but because they have different regulators and are subject to different rules, there’s been some chaos,” Guo Shuqing said in Beijing at his first news briefing after being named chairman of the China Banking Regulatory Commission.
Day: March 1, 2017
Mystery Traders Said to Make Millions Illegally on Fortress Deal
Unknown traders made more than $3.6 million in illegal profits by investing in shares and derivatives ahead of Softbank Group Corp.’s announcement last month that it would buy Fortress Investment Group LLC, according to U.S. regulators. The traders are believed to be overseas investors who used accounts outside the U.S., the Securities and Exchange Commission said in a court filing.
Traders Pile Into Junior Miners ETF
The VanEck Vectors Gold Miners ETF and the VanEck Vectors Gold Miners ETF , the two largest gold miners exchange traded funds, have lost some steam in recent days, but data suggest traders have recently been flocking to GDXJ.
A Smarter ETF Approach for Yield-Starved Investors
High-yield dividend stocks offer attractive income opportunities but come with their own set of risks. However, in an attempt to limit the risks, a recently launched exchange traded fund focuses on more quality companies to help separate the wheat from the chaff.
How Saudi Arabia can Affect Oil ETFs
The United States Oil Fund , which tracks West Texas Intermediate crude oil futures, and the United States Brent Oil Fund , which tracks Brent crude oil futures, and other oil-related exchange traded products remain beholden to the Organization of Petroleum Exporting Countries .
Trump Taj Mahal in Atlantic City to be sold to group that includes Hard Rock
Workers removed the Trump name from the sign at the entrance of the former Trump Taj Mahal on Feb. 15, with a proposed sale of the Atlantic City, N.J., casino announced two weeks later. Billionaire investor Carl Icahn reached a deal Wednesday to sell the shuttered Trump Taj Mahal casino in Atlantic City to Hard Rock International and two New Jersey investors.
Australia Mortgage Lending Standards in Regulator Crosshairs
Australia’s securities regulator said Thursday it is looking at mortgage lending standards across the banking sector after taking civil court proceedings against Westpac Banking Corp. The Westpac case “sends a message to the broader sector” that the Australian Securities & Investments Commission is prepared to “take anyone on,” Chairman Greg Medcraft told a parliamentary committee. ASIC yesterday announced proceedings against Westpac, the country’s second-biggest bank, over alleged failures to properly assess whether borrowers could afford their mortgages.
A New High-Yield Bond ETF That Limits Volatility
IndexIQ has launched a high-yield bond exchange traded fund that also focuses on securities exhibiting with lower volatility in an attempt to diminish some of the inherent risks found in speculative-grade debt while still allowing investors to generate attractive yields.
Gold ETF Rally has Legs to Keep Shining
Gold and the related exchange traded products are off to very impressive starts this year. For example, the SPDR Gold Shares , iShares Gold Trust and ETFS Physical Swiss Gold Shares are each up about 8.7%.
An ETF Strategy That Targets Consistently Managed Companies
Global X Funds, a provider of targeted exchange traded fund themes, has rolled out a strategy that specifically focuses on companies led by the original founders of their firms in an attempt to enhance returns and outperform the broader market.
Microsoft Said to Cut Purchases of HPE Servers for Cloud Service
Hewlett Packard Enterprise Co. is losing business from Microsoft Corp., one of the world’s largest users of servers, the latest sign of trouble for the pioneering computer maker as it struggles with the rise of cloud services, people familiar with the matter said.
Japan Hedge Fund Sees Trump’s Policies Boosting Topix by 15%
Toshihiro Hirao, whose Japan hedge fund posted its biggest decline ever last year, sees relief ahead as he expects President Donald Trump’s policies to boost Japanese equities by the most in three years. Hirao, 52, who runs the Asuka Japanese Equity Long Short Strategy in Tokyo, is predicting that Trump’s pro-business agenda will help strengthen the dollar, stoking a 15 percent increase in the Topix index this year.
Australia cracks down on visas for fast food industry
Australia will largely end granting visas to foreign workers to fill jobs in the fast food industry, the nation’s immigration minister has said. Since 2012, more than 500 foreign staff have been granted a visa – known as 457 – to work at businesses including McDonald’s, KFC and Hungry Jack’s.
Schumer to feds: Let Upstate NY Jewish centers trace threatening calls
NEW YORK, March 1 The U.S. Federal Communications Commission said on Wednesday it was exploring what it could do to help law enforcement track down who has made telephone threats to almost 100 Jewish Community Centers across the United States in recent months. When asked for the FCC’s reaction to Schumer’s inquiry, agency spokesman Neil Grace on Wednesday issued a statement to Newsday saying the chairman “is very concerned about the bomb threats being made to Jewish Community Centers across our country”.
U.S. Stock ETFs Rally with Dow Breaking 21,000
U.S. equities and stock exchange traded funds climbed Wednesday, with the Dow Jones Industrial Average topping 21,000 for the first time ever, as investors grew more optimistic on the economic outlook, following announcements from President Donald Trump and Federal Reserve officials.
An Inspired ETF Strategy to Align Investments with Biblical Values
Christians who want to align their investments with biblical values can now look to two new Inspire Investing exchange traded funds to track global companies that provide a positive impact on the world through various environmental, social and governance principles.
For marijuana advertisers, options are limited
In San Francisco last year, a growers collaborative bought ads on dozens of city buses and billboards promoting their “small batch” crops. The tagline: “That’s cannabis, the California Way.”
Manitowoc CEO: Trumpa s Infrastructure Plan Will Help Rehire Our Workers
Manitowoc Company CEO & president Barry Pennypacker on Trump's $1 trillion infrastructure plan, and how a border tax would impact his company. “Crumbling infrastructure will be replaced with new roads, bridges, tunnels, airports and railways gleaming across our very, very beautiful land,” Trump said in his first address to a joint session of Congress on Tuesday.
New Jersey Home Sales Surged in January
Home sales in New Jersey surged in January, continuing a trend of strengthening sales as the employment picture continues to improve. Sales of new and existing homes in January increased 14% compared with the same month in 2016, and rose 31% from 2015, according a market report by Jeffrey Otteau, president of the Otteau Group, an appraisal and consulting firm.
Dow 21K: Should investors buy in?
Mar. 01, 2017 – 3:44 – Tim Courtney from Exencial Wealth Advisors, CFRA chief investment strategist Sam Stovall and Art Hogan from Wunderlich Securities discuss when investors should get in on the market as the Dow surpasses 21K.
Bank deputy Charlotte Hogg ‘must avoid conflicts of interest’
Charlotte Hogg, a newly appointed Bank of England deputy governor, must take steps to avoid conflicts of interest, say MPs. On Tuesday MPs on the Treasury select committee questioned her about her brother, who works for Barclays as a director in group strategy.
Is Donald Trump Finally Dressing Like a President?
They say the suit makes the man. In President Donald Trump’s case, it may be the suit that makes the president.
Snap Raises $3.4 Billion, Pricing Shares in IPO Above Range
The company sold 200 million shares for $17 each, according to a statement Wednesday. The price gives the company a market value of about $20 billion, based on the 1.16 billion shares outstanding after the offering.
Wells Fargo Warns Review May Find More Bogus-Account Victims
Wells Fargo & Co., seeking to resolve a bogus-account scandal that shook the company last year, warned investors it may find more victims. Separately, it said U.S. authorities are examining whether other firms abused its technology to violate international sanctions.
How alleged ISIS videos are creating a headache for WordPress
A group that monitors extremist activity on Wednesday called for the parent company of WordPress.com to shut down Web sites the group says are used by ISIS and al-Qaeda affiliates to publicize “vile” and violent acts, including videos of beheadings and other atrocities. The Counter Extremism Project, a non-partisan research and advocacy group based in New York, said U.S.-based tech companies have been providing crucial infrastructure for the propaganda of anti-American militant groups, often unwittingly.
SEC Advisory Committee to Question Snap’s Transparency
An investor committee that advises the U.S. Securities and Exchange Commission will examine if the Snap Inc.’s decision to deny shareholders voting rights will reduce Snap’s public revelations regarding executive pay and governance affairs, the head of the committee told Reuters Wednesday evening. The review is expected sometime next week.
Overnight Tech: FCC votes in favor of stay on data security |…
FCC VOTES TO HALT INTERNET PRIVACY RULE: The Federal Communications Commission on Wednesday voted 2-1 along party lines to prevent a new internet privacy rule from taking effect. The provision was part of a larger set of broadband privacy rules passed by the FCC in October under the Obama administration and set to go into effect on Thursday.
FCC halts Internet privacy rule that imposes data security requirements on broadband providers
The Federal Communications Commission on Wednesday voted to halt an Internet privacy rule that would have imposed data security requirements on broadband providers. The move, by a 2-1 vote, came after the agency’s new Republican chairman, Ajit Pai, indicated last week that he opposed the provision and broader privacy rules because they imposed tougher restrictions on high-speed Internet providers than on websites and social networks.
An Eco-Chic Solution For Women Who Love Shoes, But Hate Conspicuous Consumption
It’s a common problem. Spring arrives and you decide to modestly spruce up your sandal collection.
FCC puts data security protections on hold – CNET
As expected the Federal Communications Commission on Wednesday voted 2-1 along party lines to stop a new data security rule from taking effect. It was part of a bigger set of privacy regulation, approved by the FCC in October , that’s supposed to protect consumers’ sensitive personal information online.
Hastings, Grand Island, Kearney Area News
As per Federal Communications Commission Regulations following is certified: Platte River Radio Inc. does not discriminate in the sale of commercial time, and will not accept advertising which, in its sole opinion, is purchased with intent to discriminate unlawfully on the basis of race, gender, or ethnicity. The advertiser hereby certifies that its purchase of commercial time is not made for an unlawful discriminatory purpose, including specifically that it is not based upon a decision to place advertising on a station on the basis of race, gender, or ethnicity.
Dalio Jolts Bridgewater as Rubinstein Exits After 10 Months
Ray Dalio shook up management at his Bridgewater Associates for the second time within a year in a sign that the billionaire is grappling with succession planning at the world’s largest hedge fund. Dalio said he will step down as interim co-chief executive officer next month and will remain co-chief investment officer.
New photos reveal what really happened backstage during the…
In the latest chapter of the Oscars best-picture fiasco known as #Envelopegate, Variety published a story on Wednesday that breaks down in photos and a timeline how PricewaterhouseCoopers accountant Brian Cullinan mixed up the envelopes that led to presenters Warren Beatty and Faye Dunaway going onstage and announcing the wrong winner for best picture. One of those photos, above, shows Cullinan holding two envelopes nearby Beatty backstage, as Beatty was preparing to present best picture.
DARPA has been using ambulances to search for nukes in D.C.
The Pentagon’s research-and-development shop announced on Wednesday the conclusion of its biggest and longest-running test deployment of its Sigma program. The test run had been running for seven months and finished in February.
Tyrese Gibson Got Married in Secret Valentine’s Day Wedding
Alongside the picture the 38-year-old explained why they made a decision to share their happy news, saying they tried to keep it secret but after it leaked chose to share the news in their own way. In a sweet video montage, you see the hands of Gibson and the bride showing off their stunning rings while the words “They say a happy wife equals a happy life” appear.
Data stolen from 2,400 U.S. employees at car parts maker Autoneum
Income data from 2,400 employees was stolen from the American arm of Swiss car parts maker Autoneum, the group said on Wednesday. “Our U.S. subsidiary Autoneum North America Inc. became a victim of fraudulent activity using falsified identities and electronic communication channels,” Autoneum said in a statement.
Micron Stock Rising on Goldman Upgrade
Shares of Micron Technology are higher by 4.42% to $24.48 on Wednesday afternoon, after the chip-maker was upgraded to “buy” from “neutral” at Goldman Sachs . The firm upgraded the stock as it sees a “tactical opportunity” in the name, CNBC.com reports.
Leaked Snapchat Emails Show Pressuring of Anti-Gun Group
Snapchat told an anti-gun group that it would run NRA ads if they didn’t buy ads with the social media company.
3 Reasons Why Marijuana’s Momentum Is Stronger than Ever
The North American Marijuana Index nearly tripled in the months leading up to Election Day. Many articles came out at the time touting everything from risky over-the-counter stocks to multibillion dollar pharmaceutical companies researching marijuana-based medicines to drive profits .
How to Trade Wednesday’s Most Active Stocks – Bank of America, Best Buy, Lowe’s and More
Put down the 10-K filings and the stock screeners. It’s time to take a break from the traditional methods of generating investment ideas.