(Bloomberg) — Canada’s biggest securities regulator is taking its first enforcement action related to so-called greenwashing by a fund manager. The Ontario Securities Commission is alleging Toronto-based Purpose Investments Inc. made statements about how it incorporated environmental, social and governance factors that were “misleading, untrue, and in conflict with the prospectuses of the funds it…
Traders work on the floor of the American Stock Exchange. (Bloomberg) — A $14 trillion rally that has taken stocks to record highs is heading for an inflection point next week, with investors expecting the Federal Reserve to resume cutting interest rates at its long-awaited monetary policy meeting. Most Read from Bloomberg The S&P 500…
Stunning gains in Chinese stocks are testing regulators’ ability to manage the ascent, as Beijing seeks to fulfil its long-standing goal of positioning the nation’s US$12 trillion equity market as a steady source of household income that can support consumer spending and economic growth. As the property market remains in the doldrums, eroding the wealth…
(Bloomberg) — Soon, Robinhood Markets Inc.’s retail traders won’t have to leave the platform to brag about their positions or post taunting memes celebrating their investment victories. The online brokerage is breaking into social media. The move is a return of sorts to the firm’s origins. Before starting their trading platform, Robinhood founders Vlad Tenev…
Nasa has barred Chinese nationals on US visas from its facilities and networks, in the latest reflection of Washington’s mounting concern over Beijing’s progress in space and other advanced technologies. Although the space agency has typically restricted the employment of Chinese citizens, Chinese nationals on US visas without affiliations with Chinese government institutions or state-owned…
(Bloomberg) — Wall Street forecasters are rushing to boost their outlook for the S&P 500 (^GSPC) as robust corporate earnings and renewed enthusiasm around artificial intelligence fuel a record-breaking rally. Deutsche Bank AG strategist Binky Chadha raised his year-end target for the US benchmark to 7,000 points, implying gains of more than 7% from current…
Commuters exit a Wall Street subway station near the New York Stock Exchange. (Bloomberg) — Wall Street trading desks expect a hot inflation print when the consumer price index hits Thursday, but they aren’t preparing for a big reaction from stocks with jobs dominating the market narrative. Options traders are betting the S&P 500 Index…
Chinese President Xi Jinping has called for a unified response to trade challenges posed by the United States, emphasising the need to build an open global economy and resist all forms of protectionism as he addressed a virtual summit of the Brics group on Monday. “No matter how the international situation changes, we must unwaveringly…
Shigeru Ishiba departs after resigning during a news conference in Tokyo, on Sept. 7. (Bloomberg) — Japanese markets face more instability as investors prepare for the departure of Prime Minister Shigeru Ishiba and the guessing game of who comes next. Most Read from Bloomberg The yen slid 0.7% against the dollar in early trading Monday,…
Traders work on the floor at the New York Stock Exchange. (Bloomberg) — Now that a September rate cut is all but sealed, options pros are expecting smooth sailing in the stock market through Thursday’s consumer price index reading. But that could turn out to be a dangerous bet if it shows inflation starting to…