BNY Mellon

Making America’s asset managers great again

To misquote Donald Trump — at the risk of being accused of propagating fake news — the US president is hoping to make America’s asset managers great …

Finance

GE missed the stock market boom -- by a mile

<b>1. GE's downfall:</b> Almost everything is going up on Wall Street these days. But not General Electric.<p>It's stunning to see GE (GE), one of America's most storied companies, left far behind the roaring stock market.<p>While the Dow was cruising past 26,000 last week, GE was suffering through its worst …

Business

Every Recruiter Should Walk a Mile in a Candidate's Shoes

Chances are they have. Chances are even better that at least one of those experiences turned ugly.<p>Imagine you’re the editor of a recruiting …

Employment

Conduent: Underearning BPO Priced For 60% Return

Services outsourcing company and recent spin-off Conduent is a turnaround story offering exceptional risk/reward, as investors are discounting the …

Business

Bank of New York Mellon: Is It a Buy or a Sell?

<b>Bank of New York Mellon</b> (BK) is higher today following an upgrade and a downgrade.<p>Let's have the good news first. <b>Morgan Stanley's Betsy Graseck</b> and …

Banking

This was GE's worst week since the Great Recession

The last time General Electric had a week this terrible, the Dow was below 7,000.<p>A deepening cash crisis caused GE's (GE) stock to dive 13% this week. GE hasn't suffered a loss like that since the first week of March 2009, during the Great Recession. Just days later, stocks bottomed -- the …

Stocks

Brazilian prosecutors ask BNY Mellon unit to return $2.5 billion to local fund

(This story corrects seventh paragraph to say ‘fiduciary manager’, not ‘fiduciary administrator’, in BNY Mellon statement.)<p>SAO PAULO (Reuters) - Brazilian prosecutors asked on Thursday that the local unit of Bank of New York Mellon Corp (BK.N) return 8.2 billion reais ($2.56 billion) to local …

Law

News Highlights: Top Company News of the Day

IBM Revenue Grows for the First Time Since 2012<p>International Business Machines Corp. reported higher revenue for the first time in 23 quarters and signaled continued growth into 2018, giving Chief Executive Ginni Rometty breathing space as she tries to turn around the century-old tech …

Markets

BNY Mellon expects more severance charges in 2018, shares down

(Reuters) - Bank of New York Mellon Corp expects to book more severance charges in 2018, its chief executive said, as the custodian bank tries to cut costs and streamline its businesses.<p>Shares fell 4.2 percent to $55.43 in early trading on Thursday, after BNY Mellon recorded $246 million in …

Markets

BNY Mellon to raise wages for 1,000 employees following tax overhaul

Bank of New York Mellon Corp. (BK) executives said nearly all of this year's benefits from the new U.S. tax law will go to technology upgrades and its employees instead of shareholders.<p>That includes a raise in the minimum wage to $15 an hour starting March 1 largely for those who work in the firm's …

Business

How Bank of New York Mellon Makes Money (BNY) (BK) | Investopedia

Founded in 2007, Bank of New York Mellon (BK) is the culmination of a merger of two of America’s most venerable banks. The Bank of New York was …

Finance

BNY Mellon shares fall on plan to use tax savings on wages, investments

Shares in Bank of New York Mellon dropped about 5 per cent on Thursday after it pledged to spend much of its tax windfall on staff and investments in …

Markets

Investing in Foreign Stocks: ADRs and GDRs | Investopedia

Investing in foreign stocks should be part of any investor's portfolio. Not only does it diversify your holdings, it offers plenty of opportunities …

Finance

BNY Mellon down 4.5% on capital return disappointment

The company met bottom-line estimates, but was shy of consensus on revenue.<p>Perhaps hurting the stock today is the company's promise to take any money …

Business

News Highlights: Top Financial Services News of the Day

American Express Reports First Loss in Quarter-Century<p>American Express recorded its first quarterly loss in a quarter-century and said it would suspend its share-buyback program as it absorbed a hit from tax changes in the U.S.<p>White House Considering San Francisco Fed's Williams for Fed Vice …

JP Morgan Chase

Dollar’s weakness unsettles central bankers

The persistent weakness of the US dollar is forcing global central bankers to step up their efforts in warning about the cost of currency …

Economy

Before the Bell:What every Canadian investor needs to know today

Equity Markets<p>U.S. stock futures were mostly flat early Thursday following the previous day's record session as earnings from heavyweights like Morgan Stanley and American Express grab the spotlight. On Bay Street, earnings from Canadian Pacific Railway are due after the close of trading. The Bank …

Markets

WSJ City: Rally Propels Dow as Fear Turns to Greed, Facebook Widens Brexit Probe

Good morning from the WSJ City desks in London. WSJ City is the app that delivers concise, smart news on business and finance for mobile. Download for iPhone or Android. Here's essential reading on today's developments.<p>MUST READS FROM WSJ CITY<p>The Dow Jones Industrial Average closed above 26000 for …

Business

Bank of New York Mellon and Albemarle skid while AES soars

NEW YORK (AP) — Stocks that moved substantially or traded heavily Thursday:<p>AES Corp., up 81 cents to $11.53<p>The power company named Jeffrey Ubben of investment firm ValueAct Capital to its board of directors.<p>La Quinta Holdings Inc., up 73 cents to $20.18<p>The company agreed to sell its hotel and …

Business

Bank of New York Mellon EPS in-line, misses on revenue

Bank of New York Mellon (NYSE:BK): Q4 EPS of $0.91 in-line.<p>Revenue of $3.72B (-1.8% Y/Y) misses by $280M.<p>Press Release<p>Now read: <b>BlackRock: Time To</b> …

Business

FT Opening Quote – Christmas delivers for Royal Mail

Breaking news alert: a private-sector company providing previously state-run services is not about to collapse, require refinancing, or pay massive …

Markets

FOREX-Dollar recovers but diversification plays weigh

© Reuters. FOREX-Dollar recovers but diversification plays weigh<p>* Graphic: World FX rates in 2017 http://tmsnrt.rs/2egbfVh<p>By Saikat Chatterjee<p>LONDON, …

Economy

Charts that matter: Pound rising towards major level

If there is a tipping point for cable — the nickname for the pound’s value against the dollar — it is the $1.40 level. Historically, the market tends …

Economy

Canadian dollar bulls may get small comfort from BoC rise

Markets consider a quarter-point interest rate rise in Canada on Wednesday virtually a done deal — with just a modest risk to recent strong gains in …

Economy

Movers & shakers, January 15

<b>• Alcentra</b> has appointed <b>Leland Hart</b> as head of US loans and high yield. Mr Hart moved to the $34.7bn alternative fixed-income manager owned by BNY …

Finance

Global investors lick lips as China opens to asset firms

Dong Wang, a 12-year veteran of the Chinese fund management industry, has some useful advice for global investment companies considering entering the …

Finance

ADRs End Slightly Higher; Teva, Ryanair, SAP Trade Actively

International stocks trading in New York closed slightly higher on Thursday.<p>The BNY Mellon index of American depositary receipts rose 0.7% to 159.62. The European index increased 0.6% to 146.49. The Asian index increased 0.5% to 191.62. The Latin American index increased 1.8% to 263.77. And the …

Markets

Pound Falls Fourth Day as Brexit Divisions Seem Far From Healing

The pound fell a fourth day as U.K. Chancellor Philip Hammond called on the European Union to signal what future trade relationship it wants amid …

Business

A Year in Review: Kazakhstan Pursues Domestic Reforms, Foreign Direct Investment in 2017

The year 2017 proved to be an eventful one for Kazakhstan, even as its long-time president, Nursultan Nazarbayev, who turned 77 last July, has yet to …

Russia

Buffett’s influence over banks adds to succession risks

A few years ago staff at US Bancorp began to wonder if they could not do away with printing thousands of copies of the annual report. Everyone was …

Warren Buffett