GE’s closely watched cash flow from operations fell 67 percent to $3.6 billion from a year earlier, reflecting the loss of the appliances division, which the company has sold. Net profit slumped 58 percent to $1.34 billion, or 15 cents a share, in the quarter ended June 30, from $3.30 billion, or 36 cents a
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Paul Burns | Getty Images Making sure retirement savings last a lifetime becomes increasingly tricky as average lifespans lengthen. In my view, making your money last can largely be boiled down to five key levers. Three are always unknown: investment returns, inflation and longevity. Unfortunately, current conditions further complicate these unknowns. With stock market valuations
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BlackRock, the largest asset manager in the world, posted second-quarter earnings and revenue that missed expectations. The company posted second-quarter adjusted earnings per share of $5.24 on revenue of $2.965 billion. In the year-earlier period, the company had posted adjusted earnings of $4.78 per share on sales of $2.804 billion. BlackRock shares fell 0.8 percent
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Wells Fargo, the third-largest U.S. bank by assets, easily beat Wall Street expectations with second-quarter earnings of $1.07 per share but revenue was light and shares fell. The decline in the stock price wiped out Wells’ gains for the year. The bank had been expected to show profit of $1.01 per share on revenue of
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Every client is different, and therefore every conversation is different, but there are also a number of similarities. A couple of meetings I had last week demonstrate how similar our conversations can be at times. In two separate meetings with two separate longtime clients, I had the same piece of advice: “Go spend some money”
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While a Roth individual retirement account can certainly help increase the size of your nest egg, it’s always important to weigh the pros and cons before you invest, says Rianka Dorsainvil, a millennial certified financial planner and owner of Your Greatest Contribution. Dorsainvil says it’s important for everyone to understand all the benefits offered when
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It has been a decade since Stephen Schwarzman listed Blackstone, his private equity firm, on the New York Stock Exchange. By most measures, the past 10 years have been good to both Mr Schwarzman and Blackstone. Its asset base quadrupled to nearly $400bn. His name adorns the New York Public Library’s landmark Fifth Avenue building
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The head of Hong Kong-listed China Minsheng Banking said it had lent Anbang Insurance Group only US$100 million, brushing aside speculation about a loan of up to 100 billion yuan (US$15 ­billion) to the insurance and financial giant, mainland ­media reported. The remarks by the bank board chairman, Hong Qi, came after reports that Anbang
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A flood of Chinese bankers is changing the social fabric of Hong Kong, as they rapidly expand their footprint in one of the world’s premier financial centres, even as Beijing struggles to tame the former British colony politically. Twenty years after Hong Kong’s handover to Chinese rule, scores of mainland professionals are filling the elite
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While multilateral development banks (MDBs) can support the infrastructure buildout in Asia, national governments need to be the institutions driving the process, a panel of experts said on Saturday. The panel held during an Asian Infrastructure Investment Bank (AIIB) meeting in Jeju, South Korea, focused on the work of governments, commercial banks and multilateral institutions
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