Now that the hotly debated tax reform bill is a reality, potential winners of a corporate tax move to 21% from 35% are starting to emerge, but exactly how long those benefits will last is being questioned.
After the election of President Trump in November 2016, earnings estimates for U.S. corporations began to steadily creep up for 2017 and 2018 in anticipation of a corporate tax cut that would bring rates to as low as 15% from the current 35%. The S&P 500 is now expected to show yearly earnings growth of 10% and revenue growth of 6% — the highest numbers seen since 2011.
Big global banks, including Morgan Stanley, JPMorgan Chase & Co and Goldman Sachs Group Inc are bracing for potential tumult on financial markets after Tuesday's U.S. election. As the outcome of the most bitterly fought U.S. presidential elections starts to roll out by Wednesday in Asia, the regional markets will be the first to trade on the results.
Banca Monte dei Paschi di Siena has asked at least eight banks to guarantee a five billion euro ($5.49 billion) cash call as Italy's third-largest bank races against the clock to comply with regulators' demands to strengthen its balance sheet, a source familiar with the matter told Reuters.
Global investors are once again dusting off studies of the 1930s as fears of protectionism, nationalism and a retreat of globalization, sharpened by this week's Brexit referendum, escalate anew.
Morgan Stanley is poised to pay $3.2 billion to settle federal and state charges that it misled investors in residential mortgage-backed securities that later soured during the financial crisis, th
Morgan Stanley plans to cut $1 billion in costs by 2017 by outsourcing some operations and making greater use of technology, Chief Executive James Gorman said.
Seven of the biggest investment banks operating in London paid little or no tax in Britain last year, despite reporting billions of dollars in profits, a Reuters analysis of corporate filings shows
Top stock-picking fund managers won 2015 by aiming for brand name companies and avoiding the sector bets that brought down biotech and energy investors.
