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Wall Street steps up push for crypto ETFs
INVESTING MUTUAL FUNDS MAR 17, 2021
Wall Street steps up push for crypto ETFs

At least four firms have live applications for exchange-traded funds tracking Bitcoin, but how the SEC will deal with the filings is a mystery.

Bill Gross says he made $10 million shorting GameStop
NEWS INDUSTRY NEWS MAR 17, 2021
Bill Gross says he made $10 million shorting GameStop

At one point, his position was "in the hole by about $10 million," but he stuck with it to sell at a profit, the legendary investor said.

Credit Suisse weighs splitting asset management, wealth units
NEWS INDUSTRY NEWS MAR 16, 2021
Credit Suisse weighs splitting asset management, wealth units

The possibility comes as CEO Thomas Gottstein grapples with the aftermath of the Greensill scandal across the bank's businesses.

ETF launches roar as they tap day-trader cash
INVESTING MUTUAL FUNDS MAR 15, 2021
ETF launches roar as they tap day-trader cash

Retail investors are piling into exchange-traded funds built around such trends as social media, online betting and SPACs.

Renewed Treasury focus on estates could mean tax hikes for rich
NEWS REGULATION AND LEGISLATION MAR 15, 2021
Renewed Treasury focus on estates could mean tax hikes for rich

Planned projects in the area that were cut back under the Trump administration would restrict access to tools for reducing estate tax bills.

Verizon to tap debt market to pay $36 billion tab on 5G airwaves
INVESTING FIXED INCOME MAR 12, 2021
Verizon to tap debt market to pay $36 billion tab on 5G airwaves

The largest U.S. wireless carrier splurged on airwaves in an attempt to catch up to rival T-Mobile in developing new 5G wireless services.

Goldman plans $10 billion initiative to support Black women
YOUR PRACTICE WOMEN ADVISOR COMMUNITY MAR 12, 2021
Goldman plans $10 billion initiative to support Black women

The program, which includes $100 million going to philanthropic efforts, has the goal of affecting the lives of 1 million Black women by 2030.

Wells Fargo stops using Abbot Downing name for high-net-worth unit
NEWS WIREHOUSES MAR 12, 2021
Wells Fargo stops using Abbot Downing name for high-net-worth unit

The bank's business of managing ultra-rich clients' money will be moved under the Wells Fargo Private Bank brand.

SEC warns investors about buying SPACs endorsed by celebrities
NEWS REGULATION AND LEGISLATION MAR 10, 2021
SEC warns investors about buying SPACs endorsed by celebrities

The agency cautioned against investing in blank-check companies based on endorsements from pro athletes or famous musicians.

SoFi to buy California lender as part of push into banking
YOUR PRACTICE FINTECH MAR 10, 2021
SoFi to buy California lender as part of push into banking

Social Finance says its acquisition of Golden Pacific Bancorp will aid its efforts to obtain a national bank charter.