Archive for Wall Street

SAN FRANCISCO — Some of the biggest names on Wall Street are warming up to Bitcoin, a virtual currency that for nearly a decade has been consigned to the unregulated fringes of the financial world.

The parent company of the New York Stock Exchange has been working on an online trading platform that would allow large investors to buy and hold Bitcoin, according to emails and documents viewed by The New York Times and four people briefed on the effort who asked to remain anonymous because the plans were still confidential…

Bitcoin Sees Wall Street Warm to Trading Virtual Currency

Share
Categories : Wall Street
Comments (0)
  • Compass Point sees ‘untold repercussions’ from unwinding deal
  •  Withdrawal would test U.S.-Israel relations, Horizon says

President Donald Trump says he will announce his decision on Iran Tuesday at 2 p.m. Geopolitical jitters — along with the start of the summer driving season and positive jobs data — had helped push oil above $70 a barrel for the first time since November 2014. Stocks pared gains and oil futures dipped as investors weighed the forthcoming announcement. The U.K. and Israel are making their final pitches as Trump mulls an exit…

How Wary Wall Street Is Sizing Up Trump’s Plan for Iran Decision

Share
Categories : Wall Street
Comments (0)
  • 25-year-old has funded channel with $20,000 made from bitcoin
  •  Analysts should ‘step up’ with ‘better questions,’ he says

That’s how long he was in the spotlight during the bizarre Tesla Inc.earnings call last week, when a petulant Elon Musk cut off “boring” Wall Street analysts asking about the cash-burning company’s finances and declared: “We’re going to go to YouTube.”

 YouTube Nerd Taunts Wall Street After Wild Tesla Call

Share
Categories : Wall Street
Comments (0)

If Elon Musk was trying to amuse himself at the expense of the analyst and investor community with his performance on Tesla’s Q1 call Wednesday evening, it’s mission accomplished to the extent he’s amused by befuddlement and frustration.

On the off chance you missed the call, you can read our full take here or you can just watch the following summary:

‘M-A-R-S’! A Disillusioned Wall Street Picks Up The Pieces After Elon Musk’s ‘Downright Bizarre’, Extraterrestrial Conference Call

Share
Categories : Wall Street
Comments (0)

Berkshire Hathaway, often largely invisible, has an increasingly visible brand name as its real-estate business expands

Warren Buffett’s Berkshire Hathaway Inc. is a big name on Wall Street. Increasingly, it’s a fixture on Main Street too.

The Omaha conglomerate was the nation’s second-largest residential real-estate brokerage last year, making Berkshire Hathaway a presence on neighborhood yard signs from Los Angeles to New York. It has franchised the Berkshire Hathaway HomeServices name to 1,330 offices and more than 45,000 agents…

Warren Buffett’s Berkshire Is Now America’s Second Largest Real-Estate Broker

Share
Categories : Real Estate, Wall Street
Comments (0)

Bain Capital bought a 50 percent stake in the hip shoemaker, hoping to build on its success. It didn’t go as planned.

When popular footwear seller Toms Shoes LLC scored a $313 million investment from private equity giant Bain Capital back in 2014, the retailer was poised to grow in a serious way. Valued at more than $600 million, Toms was seen by Wall Street as a rising star.

Then everything went sideways…

Even Wall Street Couldn’t Protect Toms Shoes From Retail’s Storm

Share
Categories : Wall Street
Comments (0)

Model 3 production updates and cash burn are top of mind as Tesla reports earnings. But a lot of other questions are hanging.

Tesla Inc. reports first-quarter earnings Wednesday after the market closes. Between now and then, investors, customers, followers and doubters will be chattering about what Chief Executive Officer Elon Musk has in store come late afternoon. Given the tumult of recent weeks, the main focus will likely be on production of the Model 3, the key to Tesla’s plan to bring electric vehicles to the masses and eventually reach profitability. But there are a lot of other questions, too.

Share
Categories : Wall Street
Comments (0)
  • The asset manager is shifting about 1,050 jobs to Nashville
  •  It’s part of a trend as financial firms look to reduce costs

New York is losing more than a thousand financial-industry jobs — and Manhattan’s loss is Music City’s gain.

AllianceBernstein Holding LP is moving its corporate headquarters and about 1,050 jobs to Nashville, Tennessee, the company said in a filing Wednesday, concluding a months-long search that evaluated 30 cities on attributes including housing, cost of living, education and weather…
Wall Street Slaps Down NYC Again With AllianceBernstein’s Move to Nashville

Share
Categories : Finance, Wall Street
Comments (0)
  • More than 1,000 staff may go to Nashville, local report says
  • It’s part of a trend as firms in New York look to lower costs

New York’s hold on finance and investing jobs keeps slipping.

On Tuesday, word began leaking in both Manhattan and Nashville, Tennessee, that AllianceBernstein Holding LP plans to relocate its headquarters from the city known for Broadway shows to one more famous for country music. The firm’s senior leaders including Chief Executive Officer Seth Bernstein will move, according to the Wall Street Journal. And they may be joined by more than 1,000 staff, the Nashville Post reported…
Wall Street Job Exodus Grows as AllianceBernstein Move Leaks
Share
Categories : Wall Street
Comments (0)

WASHINGTON (Reuters) – U.S. President Donald Trump has postponed the imposition of steel and aluminum tariffs on Canada, the European Union and Mexico until June 1, and has reached agreements for permanent exemptions for Argentina, Australia and Brazil, the White House said on Monday…

Trump postpones decision on metals tariffs for Canada, EU, Mexico

Share
Categories : Wall Street
Comments (0)

Last year, Wells Fargo investors were angry. How angry? Well, after the cavalcade of scandals that sullied the former banking Boy Scout’s name and abruptly cut short its CEO’s career, angry enough to withhold a whopping quarter of their votes from some of the board members who’d presided over the disaster. Take that!

Last year (and the early going of this year) have also been bad, but the nightmare of 2016 appears to have inured Wells’ bedraggled stockholders to pain. Plus, unlike in early 2017, there’s been some good news of late, although the bank can hardly take much credit for that windfall from the Treasury Department. No matter: Whatever the reason, Wells Fargo’s owners aren’t putting up a fight anymore

Share
Categories : Wall Street
Comments (0)

Deutsche Bank said on Thursday that it would shrink its operations in the United States and Asia and focus on Europe, effectively abandoning its ambition to be a member of Wall Street’s big leagues.

The decision, after years of losses, scandals, and management turmoil, ends a 20-year quest by Germany’s largest bank to compete eye to eye with the likes of Goldman Sachs and JPMorgan Chase…

Deutsche Bank Abandons Wall Street Ambitions, and Focuses on Europe

Share
Categories : Wall Street
Comments (0)

Good Thursday. Here’s what we’re watching:

• Deutsche Bank is finally, and drastically, shrinking itself.

• Facebook can afford to clean up its act.

• Is the problem with I.P.O.s a ‘middle-market tax’?

• On today’s earnings calendar: Amazon, Microsoft, PepsiCo and Lazard…

Three Reasons Deutsche Bank Didn’t Exit Wall Street Earlier: DealBook Briefing

Share
Categories : Wall Street
Comments (0)