The four biggest U.S. brokerage firms are facing an exodus of employees who are finding they can make more money and save on taxes by taking their clients and starting an independent firm before they retire.
Finance/Venture
JPMorgan customers targeted in email phishing campaign
Fraudsters are targeting JPMorgan Chase & Co customers in an email "phishing" campaign that is unusual because it attempts to collect credentials for that bank and also infect PCs with a virus that steals passwords from other institutions.
Asian shares hitch a ride on Wall Street's record
An index of Asian shares neared a six-and-half-year peak on Friday and was poised for a weekly gain, after upbeat U.S. economic data sparked another record close on Wall Street.
U.S. mortgage applications rise in latest week
Applications for U.S. home mortgages rose last week as demand for refinancing increased, an industry group said on Wednesday. The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, rose 1.4 percent in the week ended August 15.
Citigroup seeks to exit Japanese retail banking
Citigroup Inc (C.N) is preparing to sell its Japanese retail banking operations, a source with direct knowledge of the matter said on Wednesday, as it waves the white flag on a venture plagued by regulatory troubles and anemic lending.
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World shares and the dollar tumbled on Friday and oil and gold jumped after U.S. President Barack Obama authorised targeted air strikes in Iraq, stoking fears of another drawn-out conflict in the region.
FlexWage Solutions announced it was able to secure $3.5 million in growth funding from several unidentified investment companies as well as high net-worth financial technology executives.
President Barack Obama will announce on Tuesday that U.S. businesses have committed to investing $14 billion in construction, clean energy, banking, and information technology projects across Africa, a White House official said.
Wall Street banks have found a U.S. review of their junk-rated loans to have yielded similar results to last year, easing some concern among bankers about a crackdown on one of their most lucrative businesses.
Argentina looks set to default on its debt for the second time in 12 years next Thursday as negotiations with "holdout" investors seemingly go nowhere and neither side shows signs of blinking first, though a last minute deal can't be discounted.
Individual Retirement Account contributions are getting larger - an encouraging sign of a recovering economy and improved habits among retirement savers.
Volatility spiked on Thursday after the tragedy of a downed civilian jetliner in Ukraine and the mounting death toll in Gaza and Israel interrupted the summer trading slumber.
The Institute of International Finance warned on Friday that further sanctions on Russia would have a "broader chilling effect on Russia" and its companies who are already largely excluded from raising foreign capital.
Getting low-risk yield has been one of the toughest challenges for retirees ever since the financial meltdown of 2008-2009. Interest rates are near zero, and many retirees are nervous about bonds out of fear that rates might jump.
