Monday, October 25, 2021

Reuters Global Investor: UBS sells Spanish wealth management business to Singular Bank

UBS sells Spanish wealth management business to Singular Bank

UBS Group has agreed to sell its Spanish wealth management business to Madrid-based Singular Bank, the Swiss bank said on Monday, its second exit from a European market in the past 12 months.

From zero to $12 bln; investors chase Trump stock hype

Donald Trump has united some of his supporters and detractors in buying shares in his new company and hoping to score a big win.

HSBC rides out China property storm with 74% profit jump, $2 bln buyback

HSBC shrugged off concerns about pandemic-related bad loans and property problems in China on Monday with a surprise 74% quarterly profit jump and a $2 billion share buyback.

U.S. Justice Dept launches new discriminatory lending initiative

The U.S. Department of Justice is launching a nationwide initiative to combat discriminatory lending practices, Attorney General Merrick Garland said on Friday.

Investors shrug off rate hike fears to stock up on equities - BofA

Equity funds enjoyed their biggest inflows in five weeks as investors ramped up bets that concerns about sticky inflation may be overdone and that central banks will therefore remain in dovish mode, a weekly round-up by BofA showed on Friday.

UBS eyes Mideast expansion with new wealth desk in Dubai -memo

UBS will establish a new wealth desk in Dubai that will add coverage of Oman and Kuwait markets, and a dedicated sales team to capture business growth in the Middle East, according to an internal memo.

Italy's UniCredit, Intesa Sanpaolo join U.N. net-zero banking alliance

Italy's UniCredit , Intesa Sanpaolo and smaller Banca Ifis said on Wednesday they had joined the U.N. Net-Zero Banking Alliance (NZBA), a group of banks committed to reducing their carbon financing and investment portfolio by 2050.

Democrats raise proposed IRS bank reporting threshold to $10,000 from $600

Senior Democrats in Congress have agreed to raise their proposed tax reporting threshold for bank account inflows and outflows to $10,000 a year, with exemptions for wage income, from an earlier proposal of $600 that drew criticism for being too intrusive.

FS Investments taps ex SkyBridge co-CIO Gayeski as chief market strategist

FS Investments, an alternative asset manager that invests roughly $25 billion, said it has hired Troy Gayeski, the former co-chief investment officer at Anthony Scaramucci's SkyBridge Capital, as its chief market strategist.

Developed market equities, U.S. tech, Japan to gain in 2022, fund manager says

Developed market equities, including U.S. technology stocks other than the so-called FAANG group, are expected to outperform next year, the global head of multi-asset at PineBridge Investments said.

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