Commonwealth Bank Blames Coding Error for Alleged Breaches of Money-Laundering Law
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Australia's largest bank has blamed a coding error for tens of thousands of instances of failing to report transactions through its ATMs and allegedly breaching money laundering and terrorism-financing laws.
Brexit Uncertainty Shadows Bank of England's Every Move
The failure of wages to rise despite dropping unemployment makes it hard for central banks to know when interest-rate increases might be needed to offset inflation. In the U.K., Brexit makes it an even harder call.
Penalties Against Wall Street Are Down Sharply in 2017
Regulators levied far fewer fines over financial misconduct in the first half of 2017 compared with a year earlier. Reasons include a business-friendly shift under President Trump and the winding down of cases from the financial crisis.
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Hot-Stock Rally Tests the Patience of a Choosy Lot: Value Investors
Value investing is mired in one of its worst stretches on record, prompting concerns that the investment style favored by generations of fund managers is losing its effectiveness.
Guggenheim Funds Are Worth the Price For Invesco
Invesco has enjoyed healthy inflows into its ETFs, though it remains far smaller than BlackRock and State Street. Guggenheim's funds would add scale, which is the main driver of profitability for asset managers.
Hedge Fund Sees Opportunity in Commodities
London-based Arion Investment Management in planning to launch its first commodities hedge fund to trade base and precious metals in October.
Martin Shkreli Found Guilty in Securities-Fraud Trial
Martin Shkreli, the bad-boy drug executive widely scorned for jacking up the price of a life-saving AIDS drug, was convicted of securities fraud involving two hedge funds he managed and a company he founded.
Buffett's Berkshire Reports 15% Profit Drop
Warren Buffett's Berkshire Hathaway reported a 15% drop in its second-quarter profit, dragged down by lower investment gains and a loss in its insurance underwriting segment.
Wells Fargo Expected to Face More Regulatory Sanctions
Wells Fargo is expected to face further regulatory sanctions due to its latest scandal over improperly charging customers for certain auto insurance.
The Math That Proves This Market Is Kaput
Here is a market prediction that really can be made with a high degree of confidence. Returns over the next decade are going to be lousy. Simple math says so.
(END) Dow Jones Newswires
August 07, 2017 00:15 ET (04:15 GMT)