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Friday, January 17, 2014

Reuters Money: Morgan Stanley advances target to cut risky assets

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01/17/2014

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Morgan Stanley advances target to cut risky assets

(Reuters) - Morgan Stanley rolled forward its plan to reduce its risky assets as the Wall Street bank focuses on generating a higher return on equity, a measure where it lags its rivals.

BNY Mellon's fourth-quarter profit shows modest gain

(Reuters) - BNY Mellon Corp said on Friday its fourth-quarter profit rose slightly and met Wall Street expectations as a buoyant stock market lifted investment management and performance fees.

Financial advisers changing approaches for women

CHICAGO (Reuters) - Financial adviser Khloe Karova counsels her mostly female clients on a lot more than investments: career strategy, salary negotiations, budgeting - even life goals. She has been known to make house calls to keep them on track, questioning big-ticket purchases such as cars that haven't been accounted for ahead of time.

Bond trading stings Goldman, Citi in fourth quarter

(Reuters) - Goldman Sachs Group Inc and Citigroup Inc suffered a steep drop in bond trading revenue in the fourth quarter, a stinging blow for two banks long seen as stalwarts of fixed income markets.

For hot toys, sale-watching is like playing stock market

NEW YORK (Reuters) - A few days before New Year's, my daughter came upon the free iPad app for the Furby Boom and fell in love with the toy.

BlackRock profit jumps on strong markets; shares gain

(Reuters) - BlackRock Inc, the world's largest money manager, reported a higher-than-expected quarterly profit on Thursday, benefiting from strong markets and a flow of new money into its exchange-traded funds and retail business.

You must be joking, Mr. Bernanke

(Reuters) - Well, now we know: monetary policy certainly isn't rocket science.

Resolution: Rethink your retirement spending plan

CHICAGO (Reuters) - This is the time of year when many of us take stock of our financial plans. New Year's resolutions are in place, and tax season is just around the corner.

Capital One profit misses as net interest income falls

(Reuters) - Capital One Financial Corp, one of the largest U.S. credit card issuers, reported lower-than-expected quarterly results as net interest income fell in both its credit card and consumer banking businesses.

Suvretta cites big gains with J.C. Penney short, consumer stocks

(Reuters) - Suvretta Capital Management, founded by a former portfolio manager for billionaire investors George Soros and Steven A. Cohen, told clients on Thursday that its bet against shares of J.C. Penney Company Inc. helped contribute to solid returns in the last two years.