A logo for financial service company Merrill Lynch is seen in New York.Emmanuel Dunand | Afp | Getty ImagesThe U.S. Securities and Exchange Commission charged Harvest Volatility Management and Merrill Lynch on Wednesday for exceeding clients' predesignated investment limits over a two-year period.Merrill, owned by Bank of America, and Harvest...
Category: Finance
China central bank releases slate of support measures amid a deepening economic slump
Pan Gongsheng, governor of the People's Bank of China, delivers a speech during the 2024 Lujiazui Forum on June 19, 2024 in Shanghai, China.Vcg | Visual China Group | Getty ImagesBEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement...
Why this top fund manager says the best investment this year is ‘the hedge against political cycles’
A major exchange-traded fund and mutual fund manager finds the winning gold trade isn't talked about as much as the artificial intelligence trade — but maybe it should be.VanEck CEO Jan van Eck thinks the best investment this year is "the hedge against political cycles." To him, that means investing in...
Tesla’s Chinese rival Nio cuts price for new Onvo-branded car
Chinese electric car company Nio launched its lower-cost brand Onvo on Wednesday, May 15, 2024, in Shanghai, China.CNBC | Evelyn ChengHEFEI, China — There's yet another Chinese electric car aiming to undercut Tesla, with a steeper discount.Onvo, the lower-priced brand launched by premium electric car company Nio, announced its first...
Point72’s Steve Cohen is stepping back from trading his own book
Steven Cohen, founder of Point72 and majority owner of the New York Mets, attends a news conference at Citi Field, the home stadium of MLB's New York Mets, in Queens, New York, on Feb. 10, 2021.Brendan McDermid | ReutersBillionaire investor Steve Cohen is retiring from the trading floor at his...