Economy & Finance

Stifel appoints three financial advisers at its broker-dealer unit

Stifel appoints three financial advisers at its broker-dealer unit

Published 21/06/2017

Stifel Financial Corp said on Wednesday three financial advisers joined the private client group of its broker-dealer subsidiary, Stifel, Nicolaus & Co Inc.

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After MSCI verdict, still long wait for China`s full entry to global indexes

After MSCI verdict, still long wait for China`s full entry to global indexes

Published 21/06/2017

The MSCI logo is seen in this June 20, 2017 illustration photo. REUTERS/Thomas White/Illustration

MSCI's decision to add Chinese shares to a key benchmark is a major milestone, but investors say it will be a long and rocky road ahead before the might of the world's second-largest economy is fully reflected in global indexes.

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U.S. stock market gets relief from strong fund flows: trade group

U.S. stock market gets relief from strong fund flows: trade group

Published 21/06/2017

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., June 2, 2017. REUTERS/Brendan McDermid

U.S. stock fund flows rebounded in the latest week, providing succor to markets after multibillion dollar withdrawals in the prior week, data from trade group Investment Company Institute (ICI) showed on Wednesday.

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Cenovus to replace CEO, plans asset sales after unpopular deal

Cenovus to replace CEO, plans asset sales after unpopular deal

Published 21/06/2017

FILE PHOTO: President and CEO Brian Ferguson of Cenovus Energy addresses shareholders during the company's annual general meeting in Calgary, Alberta, April 29, 2015. REUTERS/Todd Korol

Cenovus Energy Inc said on Tuesday it would replace Chief Executive Brian Ferguson, who championed an unpopular purchase of western Canadian oil sands assets, and its shares tumbled nearly 9 percent.

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Republicans debating remedies for corporate tax avoidance

Republicans debating remedies for corporate tax avoidance

Published 18/06/2017

U.S. President Donald Trump walks from Maine One as he returns to the White House in Washington, U.S., June 16, 2017. REUTERS/Joshua Roberts

President Donald Trump and Republican leaders in Congress will soon confront a complex challenge for tax reform: how to limit U.S. corporate tax avoidance schemes that take advantage of low tax rates in foreign countries.

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Hedge fund called `greedy bastards` by Whole Foods CEO would make $300 million on sale

Hedge fund called `greedy bastards` by Whole Foods CEO would make $300 million on sale

Published 16/06/2017

Barry Rosenstein, founder and managing Partner of JANA Partners LLC., speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid

Jana Partners, the hedge fund that Whole Foods Market Inc (WFM.O) Chief Executive John Mackey lambasted as "greedy bastards," stands to make roughly $300 million from the sale of the grocery chain to Amazon.com Inc (AMZN.O).

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Kyle Bass still short yuan, says China credit bubble `metastasizing`

Kyle Bass still short yuan, says China credit bubble `metastasizing`

Published 15/06/2017

Kyle Bass, Chief Investment Officer of Hayman Capital Management, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S., May 4, 2016. REUTERS/Lucy Nicholson

Hayman Capital Management founder Kyle Bass on Thursday said he remains short the Chinese yuan despite the country's latest change to the guidance rate, because he believes credit bubble problems are “metastasizing.”

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Fund started by ex-Corvex, Trian partners shutting down

Fund started by ex-Corvex, Trian partners shutting down

Published 15/06/2017

Two former partners at hedge funds Corvex Management LP and Trian Management LP are winding down the fund they launched late last year, after making just a few investments.

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EU`s Dijsselbloem praises `successful` Banco Popular rescue

EU`s Dijsselbloem praises `successful` Banco Popular rescue

Published 15/06/2017

Dutch Finance Minister and Eurogroup President Jeroen Dijsselbloem rings the bell as he chairs a eurozone finance ministers meeting in Brussels, Belgium May 22, 2017. REUTERS/Francois Lenoir

The sale of Banco Popular to Santander (SAN.MC) was a success, the head of euro zone finance ministers said on Thursday, dismissing criticism of a rescue that wiped out shareholders and junior bondholders of what was Spain's sixth biggest bank.

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Nomura bond trader fraud trial ends in split U.S. jury verdict

Nomura bond trader fraud trial ends in split U.S. jury verdict

Published 15/06/2017

A federal jury on Thursday delivered a mixed verdict for three former Nomura Holdings Inc traders accused by the U.S. Department of Justice of lying to customers about the prices of mortgage bonds they bought and sold.

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