The five-decade Wall Street analyst Dick Bove just couldn't bring himself to raise money for a bank-stock fund at a time when he thinks banks are likely to be lousy stocks.
Bank of America gave CEO Brian Moynihan a 15% pay raise last year to $26.5 million, a new regulatory filing shows. His rival, JPMorgan Chase CEO Jamie Dimon, took home higher total pay last year with $31 million, but only got a 5% raise.
The U.S. Dollar traded at a five week high against its top global peers Friday as investors plowed cash into safe-haven assets amid questions over the fate of trade talks between Washington and Beijing and deepening concerns for world economic growth.
The European Commission slashed its growth forecast for the European economy Thursday, but stopped short of predicting a deeper recession in Italy, as the region braces for the impending departure of its biggest trading partner when Britain leaves the bloc at the end of next month.
The U.K. pound traded sharply lower against the U.S. dollar Tuesday after a key reading of activity in the country's services sector, the largest portion of the British economy, slowed to the lowest level in nearly three years last month amid the uncertainty surrounding Britain's exit from the European Union.
Bill Gross, one of the best known fixed income investors in the world, will retire from Janus Henderson to focus on managing his charitable foundation, the firm said Monday.
The Federal Reserve's recent rate hike retreat could face an early test Friday if job gains and wage growth, coupled with renewed progress in U.S.-China trade talks, ignites concerns of faster inflation in the world's biggest economy.
The Federal Reserve made no changes to U.S. benchmark interest rates, now in a range between 2.25% and 2.5%, as monetary policy officials met this week for the first time in 2019.
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