Investing and Global Finance News

Monthly Archives: April 2013

Visitors Flock to Support Boston Businesses

With three killed and over 200 wounded, Boston is still reeling from the aftermath of the marathon bombings. Small businesses have reported millions of dollars of losses as a result of the blasts as well.

According to Reuters, hundreds of visitors have flocked to Boston’s Boylston Street in an effort to help local businesses get back on their feet. One tourist chose to eat at a restaurant just feet away from the finish line, while another bought shoes at a store that was affected by the blast.

“The support has been incredible,” said Marathon Sports owner Colin Peddie. His running goods store is located at the bomb site, and, like several shops on the street, was temporarily closed due to minor repairs. Other businesses were impeded by police investigation as well.

Meg Mainzer- Cohen of the Back Bay Association trade group estimated local losses of tens of millions of dollars. She explained that retailers, restaurants and other businesses in the area are hoping to bounce back with help from the increased foot traffic and support from tourists, runners and locals.

“It’s for all the wrong reasons, but for now when someone comes to Boston they’re going to take that walk down Boylston Street,” Peddie said.


Commodity Trading Advisors Cut Down Short Bets as Gold Futures Increase

On Monday, gold futures increased to over $1,400 an ounce. This is the third consecutive climb, resulting from physical demand for the metal as big traders reduce their bets on a fall in prices. In other words, large traders are expecting a rebound following the recent selloff. Frederic Panizzutti, Senior VP at MKS Group, explained:… Continue Reading

Ari Glass Launches Boothbay Asset Management Fund

Ari Glass recently unveiled a new multi-manager hedge fund called Boothbay Fund. The fund was launched with $50 million in initial assets and a dozen allocations. Some of the goals set by Glass for Boothbay Asset Management include increasing the number of allocations to 15 and eventually having 30 managers as part of the platform.… Continue Reading

Yahoo! CEO Discusses Her Work-From-Home Ban

Marissa Mayer, CEO of Yahoo!, has finally addressed her decision to set a work-from-home ban. The new policy, which was announced in February, will come into effect on June 1st. The new mother spoke about her decision with numerous HR professionals, explaining that “people are more productive when they’re alone,” but “more collaborative and innovative… Continue Reading

Wells Fargo Mortgage Business Going “From Great to Good”

On Friday, Wells Fargo & Co. reported a surprising 23% rise in first quarter profit. However, the bank’s mortgage business has showed signs of slowing while net interest margins shrink as well. Wells Fargo, the fourth-largest U.S. bank, has been considered the leading home lender ever since the financial crises. The bank’s recent decline in… Continue Reading

Have an Idea? Just Do It!

Nick D’Aloisio, a 17-year-old London schoolboy recently sold his smartphone news app to Yahoo! for $30 million. He advises anyone with a tech idea to just do it, explaining that the money is there, “just waiting for clever new moves.” “If you have a good idea, or you think there’s a gap in the market,… Continue Reading