All Finance News
Top stories summarized by our editors
5/17/2019

Fashion retailer H&M has debuted a new, two-tier loyalty program with expanded rewards for its biggest-spending customers. Perks will include discounted blowouts at Drybar, invitation-only events and free-shipping offers.

Full Story:
Business Insider
More Summaries:
H&M
5/17/2019

The US dollar has rallied to trend against the yuan and could gain further if China devalues to offset the impact of US tariffs. However, technical analyst Blake Morrow says an overbought relative strength index indicates pressure on the upward trend.

Full Story:
Forex Analytix
More Summaries:
Blake Morrow, renminbi
5/17/2019

The Rolling Stones are set to kick off a 17-date US tour in June that will be sponsored by the Alliance for Lifetime Income, a trade group representing financial-services firms that sell annuities. Tables at the concert venues will offer information on annuities.

Full Story:
Axios
5/17/2019

The relationship between inflation and labor, as well as other resource markets, has broken down and could be problematic if the Federal Reserve cannot bring inflation closer to a 2% target, said Fed Governor Lael Brainard. Eventually, Americans could lose faith that inflation will ever meet the target, she said.

Full Story:
Reuters
5/17/2019

Five banks have agreed to pay fines to the EU, which says nine traders have colluded via online chat to manipulate the foreign exchange market. Barclays, Royal Bank of Scotland, Citigroup, JPMorgan Chase and Mitsubishi UFJ Financial Group will pay €1.07 billion combined, the European Commission says.

5/17/2019

The EU is examining ways to counter the US dollar's dominance as a reserve currency amid fears the US will sanction EU companies that trade with Iran. "A stronger international role for the euro is a key priority," says French Economy and Finance Minister Bruno Le Maire, adding, "I don't want our companies to suffer from American decisions that we do not share."

Full Story:
Reuters
More Summaries:
EU, Bruno Le Maire
5/17/2019

Investors have repeated calls for Deutsche Bank to trim its underperforming investment bank to improve profitability. "Without cuts in investment banking, we believe it will not be possible to achieve targets on returns," portfolio manager Alexandra Annecke says.

Full Story:
Reuters
More Summaries:
Deutsche
5/17/2019

Goldman Sachs has agreed to pay $750 million in cash for boutique wealth manager United Capital Financial Advisers. United Capital, which manages $25 billion in assets, will join Goldman's wealth-management unit and will bring along clients with at least $1 million in assets.

5/17/2019

UK Prime Minister Theresa May says she will announce a timetable for her departure after lawmakers take up her Brexit bill in early June. Some members of her Conservative Party have called for her to leave immediately.

Full Story:
Politico
More Summaries:
Theresa May, Conservative party
5/17/2019

The Bank of England has no desire to weaken rules for banks after Brexit, Deputy Governor Sam Woods says. "Alternatively, we could adopt a hybrid approach which doesn't replicate either of the preexisting EU or British approaches," Woods says.

More Summaries:
Sam Woods, BoE