Tag: york
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White House memo confuses Wall Street on fate of fiduciary rule
WASHINGTON/NEW YORK (Reuters) – Conflicting signs from the White House have left brokerage firms and lobbyists unsure whether a controversial rule governing retirement advice will ever be put in place, but they are taking no chances and complying anyway. President Donald Trump's Friday memorandum ordered the Labor Department to review the so-called “fiduciary” rule, which…
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Warren Buffett: I bought $12 billion of stock after Trump won
Buffett revealed that he has bought $12 billion of stock for his company Berkshire Hathaway Inc since the Republican Donald Trump beat Democrat Hillary Clinton in the Nov. 8 U.S. presidential election. In an interview with talk show host Charlie Rose that aired on Friday night, Buffett suggested that Berkshire's post-election stock purchases overall were…
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Wall Street scion Caspersen gets 4 years in prison for $38.5 million fraud
By Nate Raymond NEW YORK (Reuters) – Former Wall Street executive Andrew Caspersen was sentenced on Friday to four years in prison for engaging in what prosecutors say was a Ponzi-like scheme to defraud investors including family members and friends out of $38.5 million. Caspersen, who worked at a unit of investment banker Paul Taubman's…
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Wall Street rallies on gradual Fed tightening, improving economy
NEW YORK (Reuters) – U.S. stocks rallied on Wednesday after the Federal Reserve announced it is raising its key policy rate for the first time in nearly a decade in a sign of confidence in the U.S. economy.
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Wall Street veterans say rate-hike past is not prologue for markets
By Trevor Hunnicutt NEW YORK (Reuters) – It has only been six years since the U.S. stock market rout brought on by the financial crisis, but as far as Deena Katz's clients are concerned, that might as well be ancient history. “People have a thirty-second memory,” said Katz, 65, co-chairman at Evensky & Katz/Foldes Financial…