Reuters: Money

IRS officials deny misleading Congress on targeting

Tue, 21 May 2013 18:30:32 GMT

WASHINGTON (Reuters) - Top Internal Revenue Service officials told Congress on Tuesday they were unaware of the agency's targeting of conservative groups for extra tax scrutiny until recently and did...

Column: Transforming your 401(k) into steady income

Tue, 21 May 2013 15:59:38 GMT

CHICAGO (Reuters) - A job and a paycheck - they go together like coffee and cream. But when you retire from your regular job, does that mean you have to give up the cream?

In the Hamptons, catering to the rich (and their dogs) is good business

Tue, 21 May 2013 15:39:15 GMT

EAST HAMPTON, New York (Reuters) - Judging by early demand for everything from doggie daycare to Ferrari rentals and fine art, rich Americans are going to make this a strong summer in one of their...

Awaiting rebound in Europe, Poland stifles growth at home

Tue, 21 May 2013 14:40:17 GMT

WARSAW (Reuters) - Poland has turned its back on policies that once made it Europe's growth leader and is flirting with the recession that it alone among its emerging European Union peers has evaded...

Column: Bernanke's dangerous optimism

Tue, 21 May 2013 12:02:52 GMT

(Reuters) - Federal Reserve Chairman Ben Bernanke is an optimist about economic growth in the coming decades, rejecting "depressing" views about a slowdown to put his faith in collaborative...

Your practice: Five tips for effective client meetings

Tue, 21 May 2013 12:01:10 GMT

(Reuters) - Keeping clients on track during one-on-one strategy sessions is often a tricky balancing act. It requires planners to acknowledge the deep emotions that are usually attached to the...

Attention shifts to White House in IRS probe

Mon, 20 May 2013 23:14:01 GMT

WASHINGTON (Reuters) - Two senior aides to President Barack Obama knew weeks ago about a watchdog report on the U.S. Internal Revenue Service targeting of conservative groups, a spokesman said on...

Broker-dealer LPL overhauling compliance practices after fines

Mon, 20 May 2013 22:35:58 GMT

NEW YORK (Reuters) - LPL Financial Holdings Inc, a fast-growing broker-dealer that offers services to more than 13,000 independent stockbrokers, is overhauling its compliance procedures following a...

Prosecutors' subpoena of SAC's Cohen puzzles defense lawyers

Mon, 20 May 2013 22:13:43 GMT

NEW YORK (Reuters) - The decision by prosecutors to compel Steven A. Cohen to testify before a federal grand jury about allegations of insider trading at his $15 billion hedge fund is leaving many...

Citi names new heads of mortgages, private bank, Citi Holdings

Mon, 20 May 2013 20:04:32 GMT

NEW YORK (Reuters) - Citigroup Inc Chief Executive Michael Corbat named Jane Fraser as the new head of the bank's mortgage business on Monday ,as current CitiMortgage CEO Sanjiv Das plans to leave...

Column: Two ways to pick your summer stock retreat

Mon, 20 May 2013 20:00:46 GMT

CHICAGO (Reuters) - It used to be easy to abide by the old Wall Street nugget that you should pull out of the market in spring and come back in the fall.

SEC review of brokerages use of arbitration not seen in 2013

Mon, 20 May 2013 19:46:59 GMT

WASHINGTON (Reuters) - Wall Street brokerages' use of mandatory arbitration clauses merits a regulatory review, but the Securities and Exchange Commission will not have time to undertake one before...

StanChart to buy Morgan Stanley India wealth management arm

Mon, 20 May 2013 14:27:38 GMT

(Reuters) - Standard Chartered has agreed to buy the Indian wealth management unit of Morgan Stanley, helping the British bank expand its private banking business in Asia's third-largest economy.

Should you skip Obamacare and keep your old plan?

Mon, 20 May 2013 12:32:30 GMT

BOSTON (Reuters) - When the Patient Protection and Affordable Care Act, aka Obamacare, starts rolling out in October, it will overhaul how Americans get healthcare coverage. Yet many workers will...

NY regulator questions investment firms' ties to insurers: WSJ

Mon, 20 May 2013 05:54:06 GMT

(Reuters) - New York's top financial regulator has sent subpoenas to several firms seeking information on investments that guarantee steady payments to hundreds of thousands of retirees and other...

Analysis: Shrinking deficit reduces pressure for budget deal

Mon, 20 May 2013 05:15:27 GMT

WASHINGTON (Reuters) - The chances of a deal between Democratic and Republican lawmakers that would overhaul the tax system, trim government spending and reform safety net spending programs appear to...

SAC Capital's Cohen gets subpoena to testify: NY Times

Mon, 20 May 2013 04:42:03 GMT

(Reuters) - Steven A. Cohen has received a subpoena to testify before a grand jury in a U.S. government insider trading investigation into his hedge fund SAC Capital Advisors, the New York Times...

White House accuses Republicans of 'fishing expeditions'

Sun, 19 May 2013 19:23:40 GMT

WASHINGTON (Reuters) - The White House on Sunday accused Republicans of conducting political "fishing expeditions," while Republican lawmakers showed no let up in attacking President Barack Obama's...

IRS chief declines to identify employees involved in scandal

Sat, 18 May 2013 00:54:36 GMT

WASHINGTON (Reuters) - The outgoing head of the U.S. Internal Revenue Service angered Republican lawmakers on Friday by resisting their demands that he identify who at the tax-collection agency had...

Hedge funds selling gold after propping market a month ago

Fri, 17 May 2013 22:55:09 GMT

NEW YORK (Reuters) - Hedge funds and other big speculators in commodities have started selling gold in a big way, trade data showed on Friday, just a month after they had supported the precious metal...

IRS chief declines to identify employees involved in scandal

Fri, 17 May 2013 22:51:21 GMT

High-yield bond funds see lower demand after record rally

Fri, 17 May 2013 21:37:52 GMT

NEW YORK (Reuters) - Investors worldwide cut back on commitments to high-yield "junk" bond funds in the latest week, giving just $100 million to the funds globally after committing over $1 billion...

Every cent helps: euro zone explores scrapping smallest coins

Fri, 17 May 2013 13:22:16 GMT

BRUSSELS (Reuters) - Saving pocket change may not end the euro zone crisis, but the European Commission hopes that scrapping the smallest coins could help penny-pinching governments cut costs.

Tightness returns to the LME lead market: Andy Home

Fri, 17 May 2013 13:10:09 GMT

LONDON (Reuters) - Cash-date tightness has returned to the London Metal Exchange (LME) lead market.

How to see the world and 'arbitrage' your retirement

Fri, 17 May 2013 12:45:48 GMT

NEW YORK (Reuters) - In the financial world, arbitrage is a trading strategy that earns profit by exploiting price differences between markets.