Finance

The Latest: Sen. Cruz says he's against GOP health bill

WASHINGTON (AP) — The Latest on the Republican push on health care (all times local):<p>12:35 p.m.<p>Sen. Ted Cruz says he's against the Republican bill that would erase much of President Barack Obama's health law.<p>If the Texas Republican sticks to that stand, GOP leaders will have little hope that their …

Politics

APNewsBreak: Planes designed for Alaska to take final flight

ANCHORAGE, Alaska (AP) — Claire Richardson remembers taking off from Nome in an airplane uniquely configured for Alaska when a horrible smell seeped into the passenger area.<p>The captain soon came on the speaker to apologize for the odor, which was coming from 70 skittish baby reindeer headed for …

Aviation

American low-cost fund giant Vanguard is now pulling in £2 million per day in the UK

Vanguard is a titan in the fund management industry, but the vast majority of its $4 trillion assets are in the US. As its chief investment officer Tim Buckley prepares to become CEO next year, the company is eyeing global expansion. It’s off to a strong start in the UK, taking in almost £2 million …

US commerce secretary visits Beijing ahead of Trump trip

BEIJING (AP) — U.S. Commerce Secretary Wilbur Ross says Washington is hoping for concrete progress during President Donald Trump's planned trip to China amid rising trade tensions.<p>Ross met Monday with Chinese Premier Li Keqiang, the country's top economic official, during a three-nation Asian tour. …

China

Uber CEO apologizes to users for company's mistakes

LONDON (AP) — The new CEO of Uber has apologized for past mistakes just days after London's transport authority said it would scrap the company's operating license.<p>Dara Khosrowshahi said in letter Monday that the company "has got things wrong along the way" as it expanded. He says the company will …

Uber

Side FX

<i>By Vivek Bommi</i><p>In this week’s CIO Weekly Perspectives, guest writer Vivek Bommi asks, Are investors comparing “like with like” when they compare U.S. …

Business

How Blockchain and ICOs Are Changing the Funding Game for Startups

For some tech firms, initial coin offerings are a way to raise early capital more quickly than they could through venture funding<p>By<p>Tomio Geron<p>Tomio Geron<p>The Wall Street Journal<p>Biography<p>@tomiogeron<p>geron.tomio<p>tomio.geron@wsj.com<p>Blockchain technology is changing the way many technology startups raise …

Venture Capital

Disruptions, Challenges and Bubbles

Here are your morning reads.<p>Back to work with our morning train reads:<p>How Electric Cars Can Create the Biggest Disruption Since the iPhone (Bloomberg)<br>• New Highs Should Be Bought, Not Sold (Irrelevant Investor)<br>• 3 Challenging Scenarios for Quality-Value Investors (Clear Eyes Investing)<br>• What We Know …

MIT Sloan

Many Investors Have Seemingly Learned Nothing from History

<i>"'A bull market is like sex. It feels best just before it ends.'"</i><br>- Warren Buffett<p>Excuse me for being redundant, but the following Jim Rogers quote …

Business

The Real Threats to the Equity Bull Market

To continue, high valuations and low volatility require stable economic growth and predictable earnings.<p>The current move higher for U.S. stocks may look like a bull market, but it shares few characteristics with an actual bull.<p>We need to look beyond the barnyard comparisons to understand the future …

Economy

Trump promising huge tax cut; focus on taxes vs health care

WASHINGTON (AP) — Poised to reveal a tax plan that is a pillar of "his economic policy and delivering on a campaign pledge, President Donald Trump is promising "The largest tax cut in the history of our country."<p>Trump's declarations came as the health care legislation brought forward by Republicans …

Business

New York police and firefighters seek pension fund protection

New York’s police and firefighter pension funds have invested about $127m in a quantitative hedge fund that specialises in providing protection at …

The City

News Highlights: Top Financial Services News of the Day

European Banking Landscape Has New Powerhouses: French Lenders<p>French banks Société Générale and BNP Paribas have emerged from the financial crisis, the eurozone debt crisis and long years of European economic stagnation as two of the continent's strongest lenders.<p>Why a BlackRock Legal Win Could …

Financial Services

My top 5 investing lessons after 30 years as an economist

<i>David Rosenberg is chief economist with Gluskin Sheff + Associates Inc. and author of the daily economic newsletter Breakfast with Dave.</i><p>Next month marks my 30th anniversary as a Street economist – from Bay Street to Wall Street and then back to Bay Street. In fact, the exact date of my first day as …

Economy

Ray Dalio and the Market’s Pulse

The core of investing: Figure out what everyone thinks and how they’re wrong.<p>Has Ray Dalio lost the pulse? The founder of the $160 billion hedge fund Bridgewater Associates is all over the place spouting his management philosophy of radical transparency. He has been making TV appearances, attending …

Vanishing Expenses... Where Did They Go?

This article follows up on the discussion on AGNC by going even deeper into interest expenses.<p>We can isolate the amount of net interest income that …

Business

Top stories from this morning’s papers - Financial News

Finance firms plan UK hires despite Brexit clouds<br>Financial services firms are shrugging off Brexit uncertainties and planning hires in the UK. The …

Business

Investors Reward Argentina for Taming Inflation

Stocks? Up. Bond returns? Strong. The financial sector? Improving. Money managers have noticed.<p>Where in the world can you get more than 11 percent from bonds since June and 41 percent from bank stocks this year, with inflation evaporating as the gross domestic product and currency strengthen? That …

Economy

EU says time running out for Brexit deal

BRUSSELS (AP) — The European Union presidency says time is running out for Britain to seal an agreement on leaving the EU, with a fourth round of Brexit negotiations about to begin in Brussels.<p>Estonian deputy EU affairs minister Matti Maasikas, whose country holds the bloc's rotating presidency, …

Brexit

Springsteen Tickets Hit $10,000, and Wall Street Gets Scalped

We ain’t in Asbury Park anymore: prime tickets to "Springsteen on Broadway" are now going for as much as $10,000 on StubHub.<p>Even a cheap seat will …

Bruce Springsteen

'The Codfather' to be sentenced for evading fishing quotas

BOSTON (AP) — A U.S. fishing magnate known as "The Codfather" who pleaded guilty to evading fishing quotas and smuggling money to Portugal is set to be sentenced.<p>Carlos Rafael is the owner of one of the nation's largest commercial fishing operations. It includes a fleet of more than 30 vessels, 44 …

News (U.S.)

ICRA ratings for Indian debt instruments-Sep 25

Sep 25 (Reuters) - Below are the ratings awarded by Investment Information Credit Rating Agency Ltd. (ICRA (NS:ICRA)) for local debt instruments as …

India

How to Survive Wall Street's Robot Revolution

Wall Street’s robot revolution has begun. JPMorgan Chase & Co. is rolling out a program called LOXM that executes equities trades so well, it’s …

Business

Will Bitcoin Ruin Your Tax Return?

Not so long ago, the popular cryptocurrency Bitcoin underwent either an innocuous mini-evolution, or a massive shift in its very identity that will …

Investing

Bet with Warren Buffett, not against him

Warren Buffett, the greatest investor of our time, is trying to teach the world of investing and money management a simple yet elusive lesson

Investing

Bank of England to ask banks to hold extra 10 billion pounds capital on consumer credit risks

LONDON, (Reuters) - British lenders need to hold around an extra 10 billion pounds in capital to guard against increased risks from rapidly rising …

Economy

German business confidence dipped ahead of election

FRANKFURT, Germany (AP) — A closely watched survey says German business optimism took a dip in September ahead of federal elections and amid concerns about a stronger euro.<p>The Ifo business climate indicator fell to 115.2 points from 115.9 in August.<p>Stephen Brown, European economist at Capital …

Business

Nets Sold to Private Equity for $5.3 Billion in Latest Payments Deal

Payments-processing sector undergoing wave of consolidation<p>A consortium led by U.S. buyout firm Hellman & Friedman LLC on Monday agreed to acquire Denmark’s Nets A/S for 33.07 billion Danish Krone ($5.3 billion), the latest bet by private equity on the payments-processing sector.<p>The deal is the …

Private Equity

Moving money offshore more than a bet against SA

Cape Town - Deciding to move your money offshore should be approached as unemotionally as possible, according to Steven Nathan, CEO of 10X …

Business (South Africa)

MOVES-BMO Global Asset Management appoints head of Middle East and North Africa

DUBAI, Sept 25 (Reuters) - BMO Global Asset Management, owned by Canada's Bank of Montreal BMO.TO , said on Monday it has appointed Fadi Khoury as …

Middle East