Michael Shaoul News
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Record lows for an indicator of U.S. bond volatility show investors may be overly confident in the Federal Reserve’s ability to prop up the market, according to Michael Shaoul, Marketfield Asset Management LLC’s chief executive officer.
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Short sellers in Brazil, whose favorite targets tumbled five times faster than MSCI Inc.’s country stock index this year, are boosting bearish wagers to a record after valuations rose to the highest levels since 2008.
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The China Banking Regulatory Commission said it will scrutinize lenders’ wealth-management and short-term note sales, control increases in bad loans and focus on debts in an attempt to limit “severe risk.”
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Ralph Lauren Corp., the retailer of its namesake brand clothing, will pay about $1.6 million to resolve U.S. regulatory and criminal claims that a subsidiary paid bribes to officials in Argentina from 2005 to 2009.
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The yen climbed against all of its 16 most-traded counterparts after China’s economic growth slowed more in the first quarter than economists forecast, fueling demand for haven assets.
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Oscar Gruss & Son Inc., the New York brokerage that traces its origins to Poland almost a century ago, will sell itself for a “nominal” price to two employees as trading slows, Chief Executive Officer Michael Shaoul said.
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The 2.5 million rupees ($45,984) Nirav Vora had in the Indian stock market six years ago have plunged by 72 percent. Now the 39-year-old father of two in Mumbai, who depends on investment income for his livelihood, is plowing money into government bonds.
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Chinese equities slid the most in 10 months in New York after the Asian nation posted first- quarter growth below economists’ forecasts, driving the Shanghai Composite Index down 10 percent from a February high.
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Chinese equities retreated in New York, capping their first slump in three quarters, on concern new limits on wealth-management products will reduce bank lending to real estate companies.
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Brazilian analysts are proving to have the world’s worst record for picking stocks after failing to foresee how government intervention in the economy would curb growth and cut into corporate profits.
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