Tag Archives: credit

WSJ Wealth Advisory Brief: Banks Are Losing Love, America’s Retirement Danger, Buzz Fashion Week | Instant News


The third quarter isn’t even over yet, but mergers and acquisitions involving registered investment advisory firms are has set a quarterly record.

There were 36 deals so far in the quarter, breaking the previous record of 35 set in the first quarter of this year, according to DeVoe & Co., a consulting firm and investment bank focused on the wealth management space.

Other deals that are in the works that could be announced or signed before the end of the quarter are likely to increase the total to more than 40, the company added.

Below, some of the best analysis and insights from WSJ writers and columnists, the Dow Jones Newswires team, and sometimes more than that, on investing, the wealth management business, and more.

CORONAVIRUS PROSPECTS

Companies Adjust Revenues for Covid-19 Costs, but Is It Still a One-Time Fee?: Chiefs of finance and investors are trying to figure out how to account for the costs associated with the coronavirus as the pandemic changes the way companies operate in ways that might happen. fixed costs of doing business.

PLANNING & INVESTMENT

Banks Love 2020 Markets, But Markets Don’t Like It: While investors are still disappointed in bank shares, industry executives let’s say that part of the business is booming.

TALK THE MARKET

From Dow Jones Newswires

Societe Generale is considering forming a new retail bank in France by combining its two retail networks in the country, Credit du Nord and Societe Generale, and the move will be positive, said UBS. Mergers can generate cost synergies over the years, he said. “Such a project would be welcome, in our view, especially given the constraints that come from persistently low interest rates,” the Swiss bank said. “In our view, most of the potential cost synergies that could be realized from this merger project are more likely to come from reduced branches and staff than from infrastructure and IT savings, we think.” ([email protected] .com; @ pietrolombard10)

British home building stocks are too cheap to ignore despite near-term uncertainty, said Jefferies, pointing to Persimmon, Barratt Developments and Berkeley Group Holdings as the top sectors. “With construction looking unaffected by the latest Covid measures and the strength of the housing market providing increased comfort on continued demand, we see UK home builders as oversold,” said analyst Glynis Johnson. “News flow about Covid, Brexit, stamp duty and help to buy change is likely to create share price volatility in the near term. Nonetheless, we see the current weakness in stock prices as a good entry point for our top pick.” ([email protected])

BUSINESS & PRACTICE

American Pensioners Have Avoided Stocks at Their Own Risk: Pension funds and endowments have moved away from the US stock market over the years. Some now reconsider that decision.

IMPACT INVESTMENT

50 years after Milton Friedman, the company grapples with a wider goal: Milton Friedman’s famous statement that the social responsibility of business is to increase profits has driven companies to maximize short-term profits, helped to dramatically increase in global income inequality, and contributing to global warming.

SPEAKING POINTS

Companies Conduct ‘War Games’ to Prepare for External Threats: Amid the threat of a trade war, geopolitical uncertainty and the global coronavirus pandemic, such a game is becoming more popular.

TRAVEL & LIFESTYLE

Fashion Week is Actually On – At least in Paris and Milan: Some of the biggest luxury fashion brands are carefully stepping back onto European catwalks, deciding that front row rumors are worth the hassle of entertaining audiences. during the coronavirus pandemic.

ADVISORY CALENDAR

Endowment Forum and Foundation/ Oct 1 / Virtual

North America ESG Investment Summit/ 13-14 October / Virtual

Family Office Wealth Conference/ 13-15 October / Virtual

2020 NAPFA Fall Conference / 21-23 October / Virtual

Impact Investment Forum/ 10 November / Virtual

ABOUT US

The Wealth Adviser Briefing covers topics of interest to wealth managers, financial planners and other advisors. The content was curated by the Dow Jones Newswires team using articles from Newswires, Barron’s, MarketWatch and The Wall Street Journal. Briefings are delivered to customers via email each weekday morning at 6:30 PM ET. You can sign up here for email submissions.

For more information on our services for financial professionals, please Visit our web site.

We welcome feedback. Email please [email protected] or contact Dwight Oestricher at [email protected]

Copyright © 2020 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

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Germany asks Russia to help find former Wirecard executive | Instant News


German authorities have asked Russian officials whether Jan Marsalek, a former executive of Wirecard AG who runs operations for humiliated fintech companies, has entered Russia and asked them to follow up on Interpol’s notice issued for his arrest.

The request, made on July 22, and “red notifications” issued through the Interpol multilateral police organization was disclosed in a written response given by the German government to lawmakers on Wednesday and reviewed by The Wall Street Journal. MPs are investigating the impact of Wirecard, …

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Visa exceeds revenue expectations, but travel category remains slow to return | Instant News


Visa Inc. beat third-quarter earnings and revenue guidance on Tuesday, but the company saw volume shrink as the COVID-19 crisis continued to dampen spending growth, especially in the travel category. V shares, -0.08% were down 2% in after-hours trading. The company posted net income of $ 2.4 billion, or $ 1.07 per share, compared to $ 3.1 billion, or $ 1.37 per share, in the previous year’s quarter. Adjusted earnings came in at $ 1.06 per share, while analysts polled by FactSet expected $ 1.03 per share. Visa revenue fell to $ 4.84 billion from $ 5.84 billion, while the FactSet consensus called for $ 4.82 billion. Payments volume fell 10% for the quarter, while cross-border volume declined 37%. Excluding intra-European transactions, cross-border volume fell by 47%. The company said in its earnings release that it has seen spending improve every month in the fiscal third quarter, as more countries begin to ease restrictions on economic activity linked to coronaviruses. Payments volume “significantly improved” in the United States as the quarter progressed, which gave card presentation spending a boost as e-commerce spending “remained consistently high” offsetting sales. travel expenses. Transactions processed fell 13% in the quarter on a global basis. Visa said this measure was delayed by volume growth “as the spending mix moved away from smaller transactions.” Cross-border volume “improved only marginally in the quarter” given the persistent restrictions on travel, a key source of this type of spending activity. Management is not providing a full year outlook given the uncertainties surrounding COVID-19. Visa kicked off a busy week in payments revenue, with PayPal Holdings Inc. PYPL, -0.96%, ready to post after Wednesday’s closing bell and Mastercard Inc. MA, -0.81% Thursday morning. Visa shares have gained 15% in the past three months as the Dow Jones Industrial Average DJIA, -0.77%, of which Visa is a component, rose about 9%. .



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Amex says travel dreams are live | Instant News


Thinking of that big trip you’ll take once the pandemic is over? You are not alone, according to American Express. The company said on Friday that improvements in airline spending seen through June on some of its cards were waning, with larger year-over-year declines in the first half of July than in June, although spending on other travel and entertainment categories such as restaurants continued to rebound. However, the card company also noted that some of its partner cards co-branded with airlines, such as Delta and ….



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How the German SEC Refuses a Decade of Warnings About the Wirecard | Instant News


Germany’s top financial watchdog received detailed warnings about deceptive financial practices at Wirecard AG beginning in 2008 but repeatedly failed to investigate the allegations, and instead opposed the accusers.

For more than a decade, US investors, whistleblowers, authorities and journalists have warned of the possibility of accounting fraud or money laundering, practices that are now at the core of criminal investigations against humiliated fintech giants.

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