{ }
The Consumer Financial Protection Bureau (CFPB) is proposing new regulations to curb predatory practices by data brokers, which often sell sensitive personal information without consent, contributing to scams and threats to national security. The proposed rule would require data brokers to obtain explicit authorization before sharing sensitive data, aligning their practices with those of credit reporting agencies under the Fair Credit Reporting Act. This initiative aims to protect consumers and enhance privacy in an era where personal data is increasingly vulnerable to misuse.
National Bank Financial upgraded Thomson Reuters to "outperform," while Scotiabank raised its price target to $187. However, StockNews.com downgraded it to "sell." The stock has an average rating of "Hold" with a consensus target price of $175.20. Thomson Reuters reported a quarterly EPS of $0.80, exceeding estimates, and announced a dividend increase to $0.54, reflecting a 1.33% yield.
The New York Attorney General's investigation revealed significant data protection failures at Albany ENT, leading to a $1 million penalty and mandated security enhancements, including encryption and multi-factor authentication. Meanwhile, the SEC charged four companies for misleading cybersecurity disclosures related to the SolarWinds breach, resulting in civil penalties ranging from $990,000 to $4 million. Additionally, T-Mobile settled multiple data breach cases with the FCC for $31.5 million, addressing incidents affecting millions of customers.
UBS reported a profit of $1.43 billion for Q3 2024, significantly surpassing expectations of $740 million, driven by cost-cutting and high transaction volumes. The bank is ahead of schedule in its $13 billion cost reduction plan following the Credit Suisse takeover, with plans to cut around 7.5 billion by year-end. Despite challenges in the global economy and geopolitical tensions, UBS remains optimistic, having attracted $25 billion in new wealth management inflows during the quarter.
U.S. equity funds attracted $20.08 billion in net inflows for the week ending October 16, driven by strong bank earnings and optimism over a potential Federal Reserve rate cut. The financial sector saw the highest inflows in three months at $1.17 billion, while bond funds received $9.78 billion, marking their largest weekly inflow in the same period. Conversely, money market funds experienced $11.79 billion in net sales, the first outflow in four weeks.
Hedge funds managing over $5 billion now account for 73% of the industry, a significant increase from 65% in 2018, according to a Bank of America report. This growth has come at the expense of mid-sized firms, which have seen a 6% decline in their share. Investor concerns include crowded trades, inadequate downside protections, and geopolitical risks, with many planning to increase their hedge fund allocations.

Machinary offers a groundbreaking, modular, and customizable solution that provides advanced financial news and statistical analysis. Our platform goes beyond traditional quantitative analysis, offering users a comprehensive understanding of real-time market dynamics, event detection, and risk analysis.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings

Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.