Despite warnings of market excess, exchange-traded U.S. equity funds took in $7 billion last week, while the S&P 500 saw its best week since November.
Morgan Stanley boosted its chief executive’s pay 22% to $33 million for 2020, when the Wall Street bank posted its third consecutive year of record earnings and announced two large deals.
Do-it-yourself investors found that market gyrations required constant attention and that their amateur trading tools were limited, so many have decided that they need professional help.
Investment banks saw a rise in revenue per employee last year, but that doesn't seem to have translated into big rewards for workers.
Prices for the digital asset have tumbled 14% this week, marking the steepest decline since March, with Bitcoin near $31,000 Friday. Commentators have cautioned that a sustained drop below $30,000 could presage further losses.
The fund manager added Bitcoin futures as an eligible investment for two of its funds, according to SEC filings.
The new chief executive faces a lengthy Dutch legal battle over his role in a money laundering scandal at his previous employer, ING, that has complicated efforts to put his stamp on the business.
Prices for the largest cryptocurrency dipped as much as 6.8% Wednesday, trading below $35,000, as worries about a market bubble discourage investors from buying in.
Federal Trade Commission member Rohit Chopra will be nominated to lead the Consumer Financial Protection Bureau; both choices signal the incoming administration is planning tough oversight.
As scrutiny of the online brokerage mounts and as it prepares for an IPO expected later this year, it has recruited two officials from its front-line regulator.
