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UBS Weber Rejects Deal Talks Saying Bank Isn’t Seeking a Partner

October 9, 2020

UBS Group AG Chairman Axel Weber rejected reports that Switzerland’s largest bank is planning to merge with a rival, in his first comments on the subject since discussions with Credit Suisse Group AG were reported.

“We are not looking for a bride,” Weber said in an interview with Swiss financial magazine Bilanz. Mergers can weigh on management time for years and UBS is busy with a pending change of chief executive officer and other internal business, he said. Weber declined to comment on any talks with Credit Suisse or any other European banking rivals.

Key Speakers at the Frankfurt Finance Summit — Photographer: Peter Juelich/Bloomberg

European bank mergers have been pushed into the limelight, with the coronavirus, negative interest rates and fragmented markets sparking discussions. Weber has drawn up a wish list of possible partners including Deutsche Bank AG, BNP Paribas SA and Credit Suisse, Bloomberg reported last month, citing people with knowledge of the matter. The German

Economy faces trouble if stimulus isn’t passed soon: J.P. Morgan

October 8, 2020

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J.P. Morgan Securities’ Colleen O’Callaghan is taking steps to protect portfolios from an economic setback.

O’Callaghan warns the domino effect from coronavirus aid gridlock on Capitol Hill is the biggest risk facing Wall Street right now.

As a result, she’s increasing cash exposure for her ultra-high net worth clients.

“What we’ve been working to do is to reduce some of that equity exposure — sit in cash perhaps for a little bit,” the firm’s managing director and financial advisor told CNBC’s “Trading Nation” on Thursday.

O’Callaghan, who manages more than $3 billion in assets, is one of Barron’s top 20 women financial advisors and is on one of the nation’s top 50 private wealth management teams.

As a long-term investor, O’Callaghan’s goal is to tune out the day-to-day headlines and volatility in the market. But she acknowledges the elephant in the room right now is the stimulus, or lack thereof.

Stocks Could Sell-Off Again in 2020 — and the Reason Isn’t Fundamental

October 8, 2020

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Put simply, a viscous combination of tax loss harvesting and profit-taking in winning names ahead of a potentially higher capital gains tax rate could put overwhelming pressure on U.S. stocks just one more time this year.

This year saw a 34% bear market induced by the coronavirus recession, a second bear market for oil and banks in June and a tech-driven 9% down-move on the S&P 500 in September.

Hang onto the roof, investors.

Tax loss harvesting could be pronounced at year end and the tax headwinds do not stop there. For the winners in this market — and there have been some big ones — investors may aggressively take some chips off the table if former Vice President Joe Biden is elected President. He would attempt to raise the capital gains tax for those earning more than $1 million a year from 20% to 37%.

There are some caveats

Jason Campbell says benching isn’t ‘personal indictment’ of Dwayne Haskins

October 7, 2020

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Jason Campbell: Benching isn’t ‘personal indictment’ of Haskins originally appeared on NBC Sports Washington

When a quarterback gets benched, especially those selected in the first round who haven’t yet proven themselves as a franchise guy, that player’s long-term outlook is diminished quite a bit.

Dwayne Haskins, who has made 11 starts in two years, will now have to work toward getting back onto the field as a starting quarterback. This couldn’t have been how the 15th pick in the 2019 draft envisioned his career beginning.

But as former Washington quarterback Jason Campbell explains, this doesn’t have to be the end for Haskins. It doesn’t even have to be the end for him in Washington. He should know. Campbell was the 25th pick in the 2005 NFL Draft and started two full seasons for Washington in 2008 and 2009 after early struggles.

“I don’t think this is a personal indictment on

Occidental Petroleum Stock Isn’t the Best Oil Rebound Play Out There

October 5, 2020

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a close up of a sign: A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

Should you go contrarian, and buy Occidental Petroleum (NYSE:OXY)? Not so fast! Sure, OXY stock has fallen back to lows set during March’s novel coronavirus crash. But, don’t take this to mean shares today are a bottom-fisher’s buy.

a close up of a screen: A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

© Provided by InvestorPlace
A magnifying glass zooms in on the Occidental Petroleum (OXY) website.

How so? Namely, it’s not just low energy prices holding this company down.

Burdened with high debt from its badly-timed acquistion of Anadarko Petroleum, this exploration and production (E&P) company has more hurdles to climb relative to its peers.

Also, with so much of its cash flow having to go towards interest and preferred stock dividend (more below) payments, there’s little left to grow the business. With the company just keeping its head above water, oil prices

Speaker Mattiello isn’t the one on trial for money laundering today. But his reputation could be.

October 5, 2020

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PROVIDENCE — When little-known Democratic political operative Jeffrey T. Britt goes on trial today for money laundering and making an illegal campaign contribution, much of the focus will be on a guy who’s not on trial: House Speaker Nicholas A. Mattiello.

© Bob Breidenbach
Jeffrey T. Britt, left, stands with his defense attorney, Robert Clark Corrente, during his arraignment in November 2019, at Kent County Superior Court in Warwick, Rhode Island. Britt, a longtime political strategist, is charged with felony money laundering and making an illegal campaign contribution in the name of another person to support a candidate. (Bob Breidenbach/Providence Journal via AP, Pool)

Britt’s lawyer says that Leo Skenyon, Mattiello’s chief of staff, told Britt to persuade a defeated GOP candidate to endorse Mattiello instead of the candidate from her own party who was seeking to unseat the Speaker in 2016. Britt has pleaded not guilty to the charge

Don’t Give Your Money Away on Cisco Stock as Bearish Trend Isn’t Yet Done

September 30, 2020

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In a bull market seemingly made up of influential technology stocks, not all companies of that caliber have enjoyed 2020’s new socially distanced normal. Cisco Systems (NASDAQ:CSCO) and its shareholders can attest as much. But has the time finally come to buy Cisco stock? Let’s examine what’s happening off and on the price chart, then offer a risk-adjusted determination in alignment with those findings.

a close up of a sign: Where and Why You Can Steal Cisco Stock

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Where and Why You Can Steal Cisco Stock

Despite September’s market correction, it’s not exactly a secret the large-cap, tech-heavy Nasdaq Composite index has been a great spot to invest this year. The leadership of course has been the byproduct of muscular rallies in trillion-dollar-plus outfits and rising growth stock stars. Apple (NASDAQ:AAPL). Microsoft (NASDAQ:MSFT). Amazon (NASDAQ:AMZN) and others, as

Calling Yourself Data-Driven Isn’t Enough For Marketing Today

September 30, 2020

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Janet is President and CEO of data-first digital marketing agency Marketing Mojo and focuses on measuring marketing success.

Business Conference Call Woman Analyzing Financial Figures — getty

Amid the pandemic, data — its collection, its accuracy and the insights we gain from it — may have never been more paramount. But the accuracy of data collection is important for more than just public health — it’s important to how we run our businesses, too. Data is prevalent, almost overwhelmingly so, for marketers. Many marketers aim to be “data-driven,” but what does that really mean? And are we collecting and interpreting our own marketing data correctly?

It’s arguable that measuring marketing’s success is more critical than ever. In an uncertain time when many budgets have been stripped and businesses are reticent to invest in marketing because of economic uncertainty, marketers face reduced investment and job insecurity. According to Forrester, over 52,000 advertising jobs are at risk due to the

The Fidelity Magellan ETF Isn’t Peter Lynch’s but It’s Still Interesting

September 27, 2020

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Has any other mutual-fund manager ever even come close to Peter Lynch’s record at Fidelity Magellan? From 1977 until 1990 he produced a blistering 29% annualized return, nearly double what the

S&P 500

produced during that period. Lynch wasn’t just a Fidelity manager and Magellan wasn’t just a Fidelity fund back then. They were Fidelity and Lynch’s prominent forehead, toothsome grin and shock of white hair became emblematic of the Boston-based firm in advertisements and commercials.

Back then, a U.S.-based exchange-traded index fund was but a twinkling in creator Nathan Most’s eye. After much resistance from mutual fund traditionalists like Vanguard’s John Bogle, who rejected Most’s idea as promoting speculation, America’s first ETF,

SPDR S&P 500

(ticker: SPY) launched in 1993.

Flash forward to 2020, and Fidelity just filed a prospectus with regulators that it will be launching an ETF version of the $21.7

What If Child Support Money Isn’t Used For the Children?

May 5, 2020

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Parents who pay child support are often concerned that the money be actually used for the needs of the children, rather than their ex-spouse.

Child support is designed to cover the necessities, such as food, clothing, shelter, basic medical care, etc. In addition to a base amount of support, the parents may also be expected to pay additional amounts for extraordinary medical care, private schools, sports and other activities, and so on. In some states, the parents can be ordered to pay for all or part of college costs, as well.

So what if the receiving parent spends the money on themselves, rather than the children?

Usually, it doesn’t matter. As long as the children are not being neglected, the receiving parent does not have to account for how they spend the money. Some costs, such as the rent or mortgage, utilities, groceries, etc. are partially for the children and … Read More

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