NEW YORK Nov 26 (Reuters) - Every industry has its loss leaders, and the investment world is no different. The theory is that you will go to the store for the $12 turkey and stick around to buy dressing, cranberries, juice, pies and two kinds of potatoes. Mmmm, but I digress.
In the investment world, the role of the cheap turkey is played by broad stock index exchange traded funds. While investment firms say they make money on even low-fee funds, their profit margins on these products have been nar...Continue
Nov 26 (Reuters) - The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email email@example.com.
The professional services firm, owned by private equity fund manager Electra Partners LLP, appointed John Connolly group chairman, effective immediately.
INVESTEC WEALTH & INVESTMENT
The wealth management and investment services provider appointed Rob Jones, Darren Elmes and Steve Hart as senior inves...Continue
LONDON Nov 26 (Reuters) - Free banking services in Britain for customers who are in credit should remain and authorities should not impose charges as part of attempts to shake up the market, the boss of Lloyds said on Wednesday.
Some politicians, regulators and bankers have called for an end to no fees banking so banks don't squeeze customers elsewhere. They say ending it would make charges more transparent and improve competition and levels of service.
"Free in credit banking is evidence of competition and customers love it, so I do not intend to cha...Continue
* HP shares fall in premarket after results late Tuesday
* Markets will be closed Thursday for Thanksgiving holiday
* Futures up: Dow 4 pts, S&P .75 pts, Nasdaq 4 pts (Adds Deere results)
By Ryan Vlastelica
NEW YORK, Nov 26 (Reuters) - U.S. stock index futures were flat on Wednesday as investors looked ahead to a flurry of economic data that will be released throughout the morning, which could indicate whether the market's record levels are justified.
* While shares could see some pressure following weak results from Hewlett-Packard Co and Deere...Continue
(Updates prices, adds comment)
By Patrick Graham
LONDON Nov 26 (Reuters) - The Australian dollar hit a four-year low against its U.S. counterpart on Wednesday before data likely to prove crucial for several currencies against the greenback.
The euro, up almost a cent against the dollar this week, dipped after European Central Bank Vice President Vitor Constancio said the bank could gauge in the first quarter of 2015 whether it needed to buy government bonds.
The Aussie has been one of the biggest decliners during the dollar's rally since July, and Res...Continue