Stock Market Today: Dow Futures Slip Before Powell Remarks, NIO Stock Drops

Text size Fed chair Jerome Powell will deliver remarks at a central bank summit. Olivier Douliery / AFP via Getty Images Stocks slipped on Wednesday ahead of a summit of top central bankers where investors will closely watch for clues about how high the Federal Reserve will raise interest rates. Futures for the Dow Jones … Read more

Why UPS Stock Could Be a Winner. Margins Are Improving.

UPS CEO Carol Tome. Photo by JIM WATSON / AFP via Getty Images Text size Until recently, United Parcel Service operated a little like the New York Yankees. But the company has changed in ways that are positive for the stock. Investors, along with baseball fans, may know that the Bronx Bombers have maintained an … Read more

Russia is poised to default on its debt – so what does that mean?

Russia is poised to default on its foreign debt for the first time since the 1917 Bolshevik Revolution, further alienating the country from the global financial system following sanctions imposed over its war in Ukraine. The country faces a Sunday night deadline to meet a 30-day grace period on interest payments originally due May 27. … Read more

Why BlackRock is bullish on blockchain, but not bitcoin

BlackRock has no plans to launch a bitcoin product, but is bullish on the blockchain technology that underpins cryptocurrencies, according to one of its most senior executives. “In terms of the underlying technology of blockchain, it is incredibly innovative and incredibly disruptive,” Salim Ramji, global head of iShares and index investments at BlackRock told Financial … Read more

BlackRock exec’s warning: ‘Game over’ for fund manager pay rises

Fund management professionals have been warned that soaring pay and bonuses prompted by an escalating war for talent could soon come to an abrupt end. “The war for talent is real, but some of the pricing that people have been banding around for talent is about to change in a meaningful way,” said Edwin Conway, … Read more

SocGen accuses Clifford Chance of negligence in £ 384m gold bullion dispute

Societe Generale has accused Clifford Chance of negligence over its work for the bank in a dispute over £ 384m-worth of gold bullion. SocGen engaged the Magic Circle law firm in 2008 to pursue Turkish jewelery maker Goldas. The bank claimed Goldas had failed to pay for 15,725 metric tonnes of gold bullion. The bank … Read more