A regulatory arbitration panel on May 13 ordered Swiss giant wealth manager UBS Financial Services Inc. to pay $4.8 million to investors who lost money on Puerto Rican bonds. The complaint, filed in San Juan, Puerto Rico, in July 2019, accuses UBS Financial Services and UBS Financial Services of Puerto Rico of breach of fiduciary duties, breach of contract, unsuitability and unauthorized trading, among other infractions. The
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As restrictions ease across the US, a majority of Americans feel optimistic about the state of the country overall, including the economy, the stock market and their personal financial prospects, according to Schwab’s 2021 Modern Wealth Survey, an annual examination of how 1,000 Americans think about saving, spending, investing and wealth. Although more than half were financially impacted over the past year
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NY-based investment company Soros Fund Management bought shares of ViacomCBS, Baidu Vipshop Holdings Ltd and Tencent Music Entertainment Group during the first quarter of 2021, according to the most recent filings of the investment company. Soros bought $194 million in media conglomerate ViacomCBS shares, $77 million in tech giant Baidu shares, $46 million worth of online discount retailer Vipshop Holdings Ltd shares and $34
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Volatile markets, the limits of trading apps and the power of social media are driving self-directed investors to seek formal financial advice and are also willing to pay for it, according to the latest Cerulli Edge—U.S. Retail Investor Edition. The Boston-headquartered research firm that specializes in global asset management and distribution analytics, in its 2Q 2021 Issue, found that early adopters of
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Food commodity prices continue to spike worldwide, bringing more pain for consumers. The Food and Agriculture Organization’s (FAO) food price index, which measures monthly changes for a basket of cereals, oilseeds, dairy products, meat and sugar, rose for the 11th consecutive month in April, hitting its highest level since May 2014, with sugar leading the increase and cereals resuming their upward trend.
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Brazilian cosmetics group Natura concluded on Monday (May 3) an international fundraising of US$1 billion in bonds linked to sustainability goals. The issue was carried out by its subsidiary, Natura Cosméticos S.A. with Natura & Co Holding S.A. acting as the guarantor. The seven-year notes mature on May 3, 2028 and carry an interest coupon of 4.125% per year, to be paid on a
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The Covid-19 crisis and geopolitics have sharply affected demand for transport of crude oil. However, the commodity will be in demand for many more years, despite the plethora of initiatives taken to combat climate change and the high degree of uncertainty that is testing the industry as never before. In its latest weekly report London-based Gibson Shipbrokers Ltd said that how demand will change
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