Wall Street oscillates amid COVID-19 spikes, muted data

Wall Street oscillates amid COVID-19 spikes, muted data
NEW YORK (Reuters) – Wall Street struggled for direction on Thursday as investors weighed a resurgence in coronavirus infections and the possibility of a new round of shutdowns against data that suggested the U.S. economy might not bounce back with quick, V-shaped recovery. Traders exit the 11 Wall St. door of the New York Stock Exchange (NYSE) in New York... Read More

Wells Fargo investment adviser to sell feeder fund platform to iCapital

Wells Fargo investment adviser to sell feeder fund platform to iCapital
FILE PHOTO: Wells Fargo Bank branch is seen in New York City, U.S., March 17, 2020. REUTERS/Jeenah Moon (Reuters) – Wells Fargo & Co (WFC.N) said on Thursday its investment adviser Wells Fargo Investment Institute will sell its feeder fund platform to fintech firm iCapital Network for an undisclosed amount. The Wells Fargo global alternative investments feeder fund platform provides... Read More

China’s factory output perks up but consumers stay cautious

China’s factory output perks up but consumers stay cautious
BEIJING (Reuters) – China’s factories stepped up production for a second straight month in May, as the country shook off the economic torpor of the coronavirus, although the weaker-than-expected gain suggested the recovery remained fragile. FILE PHOTO: Workers are seen on a production line manufacturing masks at a factory in Shanghai, China January 31, 2020. REUTERS/Aly Song Patchy data on... Read More

Macy’s raises $4.5 billion to shore up funds as stores reopen, shares surge

Macy’s raises $4.5 billion to shore up funds as stores reopen, shares surge
FILE PHOTO: A shuttered Macy’s store and empty parking lot are seen at the closed Palisades Center shopping mall during the coronavirus outbreak in West Nyack, New York, U.S., March 20, 2020. REUTERS/Mike Segar (Reuters) – Macy’s Inc said on Monday it raised a total of $4.5 billion, including $3.15 billion in new borrowings against its real estate assets, as... Read More

Exclusive: Buyout firm Sycamore Partners in talks to buy J.C. Penney – sources

Exclusive: Buyout firm Sycamore Partners in talks to buy J.C. Penney – sources
NEW YORK (Reuters) – Private equity firm Sycamore Partners is in preliminary talks to acquire J.C. Penney Co Inc (JCP.N) out of bankruptcy should the U.S. department store chain’s negotiations with its creditors fail, three people familiar with the matter said on Friday. FILE PHOTO: Shoppers enter and leave the J.C. Penney department store in North Riverside, Illinois, U.S., November... Read More

BlackRock focuses on China credit, oil and travel in Asia

BlackRock focuses on China credit, oil and travel in Asia
The BlackRock logo is seen outside of its offices in New York City, U.S., October 17, 2016. REUTERS/Brendan McDermid SINGAPORE (Reuters) – The world’s biggest asset manager, BlackRock Inc (BLK.N), called out oil stocks, domestic tourism and debt in China and India as investment opportunities in its Asia outlook on Wednesday. The manager of $6.5 trillion in assets expects it... Read More