Wells Fargo suffers slump in muni bond underwriting

CHICAGO/SAN FRANCISCO (Reuters) – Wells Fargo & Co is paying a price in the U.S. municipal bond market for the bogus customer accounts scandal that hit the bank last year and led to bans by some…

Hedge funds cut long U.S. crude positions for fourth week: CFTC

(Reuters) – Hedge funds and money managers cut bullish bets on U.S. crude for the fourth straight week due to ongoing concerns about rising output and the effectiveness of OPEC supply cuts.

Trump political risk to be muted until Fed joins in: James Saft

(Reuters) – Trump turmoil may not be enough – it will take an aggressive Federal Reserve to bring an end to the low volatility, rising stocks party.

Puerto Rico retirees will get bankruptcy committee: U.S. Trustee

NEW YORK (Reuters) – The U.S. Department of Justice’s bankruptcy watchdog said on Friday it plans to appoint a committee of retirees in Puerto Rico’s bankruptcy to negotiate for pensioners facing…

Traders renew bets on U.S. rate increase in June

NEW YORK (Reuters) – U.S. interest rates futures fell on Friday, suggesting traders revived bets the Federal Reserve would raise interest rates in June as financial markets recovered from their sharp…

Betterment adds Labor department, BlackRock experts to 401(k) plan board

NEW YORK (Reuters) – Robo-adviser Betterment, in a push to try to get more big companies to sign on to its 401(k) plan, beefed up the board of advisers of its retirement product on Friday by adding…

Senators raise alarms about shelving retirement advice rule

WASHINGTON (Reuters) – Three U.S. Democratic Senators on Friday raised concerns over the possibility that President Donald Trump’s administration will permanently shelve the “fiduciary rule,” aimed…

Q&A: Red Sox star David Ortiz focused on life after baseball

NEW YORK (Reuters) – After a 20-year career in baseball’s Major Leagues that included three World Series championships with the Boston Red Sox, slugger David Ortiz has earned the right to put his…