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President Trump’s escalating rhetoric on North Korea unsettled markets—and prompted mixed responses from his own political party. While Secretary of State Rex Tillerson attempted to downplay any threat of an imminent strike, Defense Secretary Jim Mattis issued a warning to Kim Jong Un’s regime, matching the U.S. president’s tone.
Tillerson seeks to calm tension after Trump’s Korea remarks. The secretary of state tried to ease concerns that the U.S. was heading toward a military confrontation with North Korea, after Trump warned that he could unleash “fire and fury.” Tillerson told reporters: “Americans should sleep well at night, have no concerns about this particular rhetoric of the last few days.”
The FBI raided Paul Manafort’s home as part of the expanding Russia probe. The raid, at the Virginia residence of Trump’s former campaign chairman, took place in July. Investigators collected some material during the search that they then took with them, a source told Bloomberg News.
Wall Street bankers can expect some hefty bonus gains this year, while traders may have to settle for little or no increase. That’s the year-end projection from compensation consultant Johnson Associates after sedate markets helped boost business at investment banks. Bankers who underwrite equity and debt will probably see annual bonuses surge 10 to 20 percent, or more.
What Goldman Sachs is telling big money clients about bitcoin. The bank is acknowledging that it’s getting harder for institutional investors to ignore the cryptocurrency market, which has ballooned to about $120 billion. The debate has shifted from its legitimacy to how fast new entrants are raising funds.
A record percentage of MBAs don’t want to work on Wall Street. A new survey shows that jobs outside of Wall Street are becoming increasingly enticing to recent graduates. Bulge bracket banks were a top employment choice for just 19 percent of respondents, which is a drop of 7 percent from last year and the lowest level in the eight-year history of the survey.
Your financial adviser may be charging way too much. The market for financial advice is getting more competitive and fees on many investments are falling, but it’s not always easy to know how much you’re paying. A new survey of almost 1,000 financial advisers sheds light on what U.S. investors actually fork out—and what they get in return.
Anthony Bourdain doesn’t care how you drink your scotch. When the chef-traveler-in-chief spoke with Bloomberg about whisky, he was adamant that there was no wrong way to imbibe—a contrast to recent internet hoopla. In our interview, Bourdain, who consults for Scotch maker Balvenie, talked about the biggest misperception people have about the liquor.