U.S. stocks closed modestly lower on Friday, the last trading day of 2023, capping a robust year-end rally as investors eyed easier monetary policy in the year ahead. The stock market has seen remarkable upward momentum in the closing months of the year, powering all three major indexes to monthly, quarterly and annual gains. For … Read more
As the gulf between America’s five largest companies and everyone else widens to exceedingly worrying levels, gyrations among the rest of the top 50 in the S&P 500 are at a 10-year high. The 50 most valuable companies in the benchmark, which now make up about 56% of its total weight, moved up or down … Read more
ESG investing, which stresses environmental, social and corporate governance yardsticks when building a portfolio, has long struggled with a lack of transparency and differing metrics across companies — making it difficult for investors to gauge the impact of their investments. Now, San Francisco-based asset manager Newday Impact Investing believes that using what it calls an … Read more
Axel Lehmann, chairman of Credit Suisse Group AG, Colm Kelleher, chairman of UBS Group AG, Karin Keller-Sutter, Switzerland’s finance minister, Alain Berset, Switzerland’s president, Thomas Jordan, president of the Swiss National Bank (SNB), Marlene Amstad, chairperson of the Swiss Financial Market Supervisory Authority (FINMA), left to right, during a news conference in Bern, Switzerland, on … Read more
A man walks past a Wells Fargo Bank branch on a rainy morning in Washington. Gary Cameron | Reuters U.S. banks closed a record number of retail branches in 2021 as customers increasingly turn to digital banking and the industry consolidates. On net, U.S. banks shuttered 2,927 branches last year, according to S&P Global Market … Read more
Nominee to be the Comptroller of the Currency Saule Omarova (R) speaks with an aide as she testifies before the Senate Banking, Housing and Urban Affairs Committee during a hearing on Capitol Hill in Washington, DC, on November 18, 2021. Jim Watson | AFP | Getty Images WASHINGTON — A nomination hearing for President Joe … Read more
