Brookfield to Offer Private Equity Product for Retail Investors
Brookfield Asset Management plans to launch a private equity product tailored to rich individuals as the firm expands further into retail wealth. “We did it in credit, we did it in real estate, we did it in infrastructure, and now we’re doing it in private...
Ally Drops After CFO Flags Consumer Stress, Underperformance
Ally Financial Inc. fell after Chief Financial Officer Russ Hutchinson highlighted intensifying credit deterioration among its borrowers and said the auto-lender may experience some underperformance. Borrowers have shown signs of vulnerability throughout the year and...
UBS’s Cheong Turns Bearish and Sees 10% Drop Coming for S&P 500
Equity derivatives strategist recommends buying tail hedges “I am tactically bearish for the next two months,” Cheong said UBS AG’s top strategist for US equity derivatives said she’s expecting the S&P 500 to fall at least 10% from its peak within a month. “I am...
China’s Deflationary Spiral Is Now Entering Dangerous New Stage
Prices seen as falling through 2025 as wages, demand languish Long-term deflation could be major setback to China’s economy Deflation stalking China since last year is now showing signs of spiraling, threatening to worsen the outlook for the world’s second-largest...
Consumers Shift Spending to Pay for Basic Staples, Citi CFO Says
Net credit losses rise in bank’s consumer credit-card business Mason sees investment-banking fees up 20% in the third quarter Credit losses are rising as US consumers shift spending to basic needs and away from purchases that aren’t vital, according to Citigroup...
Made-in-America Industrial Bets Are Dethroning the Likes of ARKK
ARKK dethroned as biggest thematic fund, ceding spot to PAVE Issuers have launched a number of industrials ETFs this year Wall Street traders may be going all-in on futuristic technologies this year, but one old-school bet on the economy is still flourishing in the...
Chinese Stocks on Verge of Five-Year Low as Recovery Hopes Fade
CSI 300 gauge is close to erasing its rebound since February Skepticism abounds over China’s earnings, economic recovery Chinese stocks are on the brink of falling to a five-year low seen in February as bearish sentiment grips the market amid a lack of earnings and...
China Deflation Risk Grows as Signs of Economic Weakness Mount
Slowest core CPI since 2021 boosts case for stronger stimulus Weak demand puts China’s growth target of around 5% at risk China’s core inflation cooled to the weakest in more than three years, fueling calls for greater efforts to boost household spending as weak...
Asia Stock Outlook Worsens as Downturn Fears Grow, Analysts Say
Risk aversion likely to prevail again this week: Shinkin Asset Aussie dollar could soon come under severe strain: IG Markets The outlook for Asian stocks is deteriorating as the worse-than-expected US payrolls report on Friday undermined earlier optimism over a soft...
Klarna-Backer Atomico Raises $1.24 Billion to Spur Startup Growth in Europe
Venture capital firm to allocate $754 million to growth deals Atomico CEO: funds closed in “toughest environment” for VCs Atomico, a London-based venture firm that has backed fintech darlings Stripe Inc. and Klarna Bank AB, has raised $1.24 billion for two new funds....
China Bulls Getting Tired of Waiting for Elusive Stock Recovery
JPMorgan, UBS Global, Nomura downgraded China in recent weeks People are ‘throwing in the towel,’ Magellan’s Lam says Weakness in Chinese equities is eroding the confidence of some of Wall Street’s staunchest supporters, with hopes for a turnaround fading in the...
Big Lots Prepares Bankruptcy Filing With Plans to Sell Stores
Retailer intends to have stalking horse bidder lined up Discount chain has suffered declining sales, losses for years Discount home goods retailer Big Lots Inc. is preparing to file for bankruptcy as soon as Sunday, and plans to sell its chain of stores via a...
US Hiring Comes Up Short in Possible Warning Sign for Fed
Jobs missed forecasts in August as prior months revised down Three-month payroll growth slows to lowest since mid-2020 US hiring fell short of forecasts in August after downward revisions to the prior two months, a development likely to fuel ongoing debate over how...
Oil Set for Deep Weekly Loss Even as OPEC+ Delays Adding Barrels
Key coalition members won’t raise production by 180k b/d Concern about demand weakness continues to hang over market Oil is poised for one of its biggest weekly losses this year, even as OPEC+ delayed a planned increase in output. Brent traded near $73 a barrel on...