Monthly Archives: November 2021
Fed is in denial about ‘persistent’ inflation, Wall Street forecaster Jim Bianco warns
(CNBC) Market forecaster Jim Bianco expects inflation’s intensity to catch up with central bank policymakers worldwide, including the Federal Reserve. The fallout could make stocks less attractive, and knock them off record highs. “Inflation is persistent and you’ve got to […]
Zillow says it’s closing homebuying business, cutting 25% of workforce; earnings miss estimates
(CNBC) Zillow, the digital real estate company, said on Tuesday that it’s exiting Offers, its business that buys and flips homes, and eliminating 25% of its workforce. The announcement was attached to Zillow’s third-quarter earnings report. The company’s revenue and […]
SEC Charges Financial Adviser with Stealing Investor Funds to Pay Off Credit Cards, Buy Gold Coins
(HedgeCo.Net) The U.S. Securities and Exchange Commission has charged a former New Jersey broker and investment adviser representative with stealing nearly $3 million from his advisory clients and brokerage customers, which he used to buy gold coins and other precious […]
Yellen says she has discussed Fed chair with Biden, praises Powell for doing a ‘good job’
(CNBC) Treasury Secretary Janet Yellen said she has discussed with President Joe Biden how he should proceed on naming a Federal Reserve chairman and praised the current holder of the position. She did not disclose any specific plans Biden has, […]
Crypto asset management market to grow 21.5% to reach $1.2 bn by 2026
(Opalesque) The global crypto asset management market size is projected to grow from $0.4 billion in 2021 to $1.2 billion by 2026, at a compound annual growth rate (CAGR) of 21.5% during the forecast period. According to a report by […]
Goldman Sachs brings forward U.S. rate hike projection by a year
(Reuters) Goldman Sachs has brought forward its forecast by a year to July 2022 for the first post-pandemic U.S. interest rate hike, as the investment bank expects inflation to remain elevated. “The main reason for the change in our liftoff […]
Barclays CEO Staley departs after Epstein probe
(Reuters) Barclays Chief Executive Jes Staley is leaving the bank after a dispute with British financial regulators over how he described his ties with convicted sex offender Jeffrey Epstein. To read this article:
BlackRock hires Joele Frank’s Roe as stewardship head for the Americas-
(Reuters) BlackRock has hired a senior executive from communications and investor relations firm Joele Frank to lead its investment stewardship team in the Americas, which oversees the asset manager’s interactions with hundreds of U.S. companies. John Roe will join as […]
Amazon-backed EV start-up Rivian plans to price shares up to $62, putting valuation near $55 billion
(CNBC) Electric vehicle start-up Rivian Automotive is targeting a market valuation of as much as $54.6 billion in its upcoming initial public offering, according to its amended prospectus filed Monday. The company said it plans to offer 135 million shares […]
SEC Charges Newport Beach Company and its Principals with Operating a $13.5 Million Ponzi-Like Scheme
(HedgeCo/Net) The Securities and Exchange Commission today announced that it has charged BNZ, a Newport Beach, California-based company, and its co-founders and co-managers Brett Barber and Louis Zimmerle, for fraudulently raising $13.5 million from more than 100 retail investors. According […]
Bill Ackman calls for the Fed to start raising interest rates ‘as soon as possible’
(CNBC) Billionaire hedge fund manager Bill Ackman called Friday for the Federal Reserve to begin reining in the support it has provided for the U.S. economy during the coronavirus pandemic. In separate tweets, the head of Pershing Square Holdings, with […]
Stock futures rise slightly ahead of first trading day of November, as investors await key Fed meeting
(CNBC)U.S. stock futures rose slightly in overnight trading on Sunday as investors readied for the first trading of November. Market participants are gearing up for another week of corporate earnings, a key Federal Reserve meeting on Wednesday and October’s jobs […]