Author: News Room
The new SEC “pay for performance” disclosure rules, coming into force for this year’s proxy season, will set new ground rules on corporate disclosure standards for “say on pay” voting. As companies are busy preparing their filings, the new rules provide an opportunity to rethink what metrics would be most useful for investors as they evaluate executive compensation and company performance. Pay for performance is the usual mantra for CEO pay in public companies, but this assumes that it is possible to measure CEO performance over a long enough timeframe to matter, and that this relationship is motivating to CEOs.…
What single change would financial services executives wish for from one wave of a magic wand? Broadridge posed that question to the C-suite executives participating in its latest Digital Transformation and Next-Gen Tech Study. The result was a clear: more artificial intelligence. AI is already changing the way financial services companies operate, and that transformation is poised to accelerate as firms target further expansion and integration of AI as a top strategic priority. It’s no surprise that an impressive 71% of the 500 senior executives in financial services participating in the study say artificial intelligence has significantly changed the way…
ATHENS (Reuters) – Greece’s economy will grow by 2.2% in 2023, its central bank chief said on Friday, urging the country to stick to the path of reform and fiscal prudence as it enters a period of increased political uncertainty due to elections. Greece will hold a general election on May 21, weeks before the conservative government’s term ends. But the vote is unlikely to produce a clear winner, setting the stage for protracted political manoeuvring and a runoff vote. Athens needs to continue with credible policies to shield its economy from risks which include the impact of the energy…
By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – The U.S. dollar sank to a two-month low on Tuesday as another round of weak economic data reinforced investor bets that the Federal Reserve is nearly done with its tightening cycle even as other central banks are seen still raising interest rates to overcome persistently high inflation. Sterling rose to a new 10-month high against the dollar, while the euro reached its highest since February. Data showing U.S. job openings in February dropping to the lowest in nearly two years, and the continued decline in factory orders, undermined the dollar as the numbers…
WASHINGTON (Reuters) – The U.S. Environmental Protection Agency said on Wednesday it is proposing tighter standards for mercury and other toxic emissions from coal plants for the first time in a decade, putting pressure on the country’s dirtiest power plants to clean up. The proposal would lower the emissions limit for filterable particulate matter, which includes mercury and other toxic metals, by 67%. Plants that burn lower-grade lignite coal, which had previously been subject to less stringent standards, would need to cut mercury emissions by 70%, EPA said. “By leveraging proven, emissions-reduction measures available at reasonable costs and encouraging new,…
© Reuters. FILE PHOTO: The logo of Alibaba Group is seen at its office in Beijing, China, January 5, 2021. REUTERS/Thomas Peter/File Photo SHANGHAI (Reuters) – Tech giant Alibaba (NYSE:) is seeking companies to test its Tongyi Qianwen AI chatbot, business publication STAR Market Daily reported on Friday, joining the rush to emulate the explosive success of ChatGPT. The free-to-use ChatGPT, a large language model (LLM) application created by Microsoft-backed OpenAI, was released to the public last November and can generate articles and essays on demand in response to user prompts. Alibaba has opened up registration for businesses to conduct…
The March jobs report on Friday showed that the U.S. economy added 236,000 jobs last month, with the unemployment rate falling to 3.5% from 3.6%. Economists polled by the Wall Street Journal had expected that 238,000 jobs would be added and that unemployment would remain at 3.6%. See: Jobs report shows 236,000 increase in employment in March Here are some initial reactions from economists and other analysts, as U.S. stock futures ES00, +0.24% YM00, +0.19% turned higher following the data on nonfarm payrolls. U.S. stock exchanges are closed for the Good Friday holiday. • “The Fed will take a little comfort from…
If you’re looking for an in-depth examination of the latest office trend, we hate to disappoint you with something short and to the point. But hey, it’s “bare-minimum Monday.” That’s the newest workplace buzz phrase gaining attention, following such others as the Great Resignation, quiet quitting and loud layoffs. It means just what its name implies: taking it easy on the first day of the workweek as a kind of coping mechanism. Marisa Jo Mayes, a TikTok creator who works for herself, is credited with coining the term and popularizing it. As she shared in an Insider story, she was…
Shares of Netflix Inc. got a boost Thursday, after the streaming video giant’s credit rating was lifted out of “junk” territory at Moody’s Investors Service, matching S&P Global Ratings’s move more than a year ago. The rule of thumb is, if at least two of the major credit-rating agencies rate a company’s credit as investment grade, then that company’s credit is “officially” considered to be investment grade. Moody’s said late Wednesday that it raised the rating on Netflix’s NFLX, -0.88% senior unsecured notes to Baa3, which is the lowest investment-grade rating, from Ba1, which is the highest speculative grade, or…
Fears of instability in the U.S. banking system and poor liquidity were likely culprits of recent, extreme volatility in the world’s “safest bond market,” according to LPL Research. The historically docile $24 trillion Treasury bond market erupted in volatility in March after the collapse of Silicon Valley Bank, evidenced by weekly swings in its policy-sensitive 2-year Treasury yield TMUBMUSD02Y, 3.965% (see chart). The LPL Research team pegged daily moves in the 2-year yield as averaging about half a percentage point, or 50 basis points, between the highs and lows each day, during the most erratic trading days in March. They…
