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Daily Scan: Major indexes up more than 1% ahead of Fed decision; LA closes all schools after bomb threat
Capital Markets
Updated throughout the day December 15, 2015 U.S. stocks joined the rally in Europe, opening about 1% higher as oil pushed sharply higher after nearing 11-year lows on Monday. The Dow was up 1.1% by midday, as was the S&P 500 and the Nasdaq. The markets have been volatile, especially after Third Avenue Management abruptly shuttered its high-yield bond fund,
EU to require more fee transparency
Asset Management
New EU standards will require asset managers to disclose how much of a client's money goes to buying broker research. The plans, which hope to cut down on conflicts of interest, will force asset managers to separate how much they spend of research into companies from their fees for executing share trades, reports the Financial Times. U.K. asset managers currently
You might not like the results, but this junk bond ETF is behaving as expected
Asset Management
The iShares iBoxx $ High Yid Corp Bond (ETF) (NYSE: HYG), the largest exchange-traded fund holding high-yield corporate debt, is down nearly 4.5 percent over the past month, so it is not a stretch to say junk bond investors that use ETFs are not enthused by HYG's performance. However, the ETF is behaving just as expected, and that is important
Hillary Clinton set up State Department meeting for son-in-law
Hedge Funds
According to reports Democratic presidential candidate Hillary Clinton used her position to benefit her son-in-law, who ran an unsuccessful Greek focused hedge fund. Clinton reportedly forwarded a request made by son-in-law Marc Mezvinsky to State Department officials, according to the Associated Press. Clinton served as Secretary of State from 2009 to 2013 under President Barack Obama. Clinton lends a hand
Why creative agencies put so much effort into their holiday cards
Lifestyle
If you thought the festive greetings card was dead, think again. Holiday season is still an inspiration for advertising creatives when it comes to spreading seasonal cheer, and they put an impressive amount of effort into these offerings, even if few people outside the industry will ever see them. "I love the craft of doing everything on camera—with no re-touching,
Blythe Masters wants $35M for startup
Asset Management
Former JPMorgan star Blythe Masters is seeking a $35 million financing round for her new startup. Master's tech startup, Digital Asset Holdings, could reach a $100 million valuation if it raises the money, reports the New York Post. DAH hopes to close the funding found by Christmas Eve, just more than a week away. JPMorgan is expected to contribute $7.5 million
Daily Scan: US stocks gain more than 1% as oil strengthens and Fed policy group meets
Capital Markets
Updated throughout the day December 15, 2015 U.S. stocks joined the rally in Europe, opening about 1% higher as oil pushed sharply higher after nearing 11-year lows on Monday. The markets have been volatile, especially after Third Avenue Management abruptly shuttered its high-yield bond fund, telling investors they would have to wait for their money until the managers could liquidate
Daily Scan: Asia ends mixed; European shares head for orbit
Capital Markets
Updated throughout the day December 15, 2015 Asian shares finished mixed on Tuesday as worries over the credit markets, commodities, and the Fed weighed heavy on a thin market once again. Hong Kong’s Hang Seng Index slid 0.17% to chalk up its longest losing streak since 1984, while China’s Shanghai Composite dropped 0.29% despite a strong showing by real estate
Changing face of Wall Street
Capital Markets
It's a frequent claim: Goldman Sachs has more programmers and engineers working on tech matters than Facebook. According to Goldman's tech team members who spoke with Business Insider, of about 33,000 full-time employees at the bank, 9,000 of them are engineers and programmers. But there is a more interesting number that shows how just how Wall Street is changing: In
Daily Scan: Stocks trade mixed; Yuan falls for seventh-straight day
Capital Markets
Updated throughout the day December 15, 2015 Shares in Hong Kong edged higher on Monday as a rebound in crude prices lifted energy shares in the former territory. The Hang Seng Index is currently up 0.45%, and the Hang Seng China Enterprises Index is up 1.04%. Meanwhile, China’s benchmark index is roughly flat after zig-zagging throughout the day while over