Financials (Legacy)

Swiss private bank Falcon replaces CEO with ex-Credit Suisse exec

Published 01/09/2016

Switzerland's Falcon Private Bank has appointed ex-Credit Suisse executive Walter Berchtold as chief executive to replace Eduardo Leemann, the wealth manager said on Thursday, confirming what sources earlier told Reuters.

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Pace of job cuts in Swiss banking accelerated in first half of 2016: SBA

Published 01/09/2016

Switzerland's banks shed just over 1,000 jobs last year with the pace of staff cuts accelerating in the first half of 2016, although the outlook for the rest of the year was "stable", the country's banking lobby said on Thursday.

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After building boom, South Korea girds for housing glut

After building boom, South Korea girds for housing glut

Published 29/08/2016

A woman walks past an advertisement promoting an apartment complex which is currently under construction in Yongin, South Korea, August 24, 2016. REUTERS/Kim Hong-Ji

In Yongin, a satellite city south of Seoul, orange construction cranes are racing to build gleaming new high-rises, but realtor Kim Woong-jib says he is pointing would-be apartment buyers to older buildings.

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Ferrari drivers criticize Verstappen aggression

Ferrari drivers criticize Verstappen aggression

Published 28/08/2016

Belgium Formula One - F1 - Belgian Grand Prix 2016 - Francorchamps, Belgium - 28/8/16 - Red Bull's Max Verstappen of the Netherlands during the Belgian F1 Grand Prix. REUTERS/Olivier Matthys/Pool

FRANCORCHAMPS, Belgium (Reuters) - A weekend that began at the top of the timesheets for Max Verstappen ended with the Dutchman out of the points and in a war of words with Ferrari rivals after a nightmare Belgian Formula One Grand Prix.

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SEC charges 71 muni issuers for misleading investors

SEC charges 71 muni issuers for misleading investors

Published 26/08/2016

A sign for the Securities and Exchange Commission (SEC) is pictured in the foyer of the Fort Worth Regional Office in Fort Worth, Texas June 28, 2012. REUTERS/Mike Stone

(Story corrects paragraph 4 to show a Minnesota county municipal finance official did not immediately respond to a request for comment and a state municipal finance official could not immediately be located for comment, not that an official in Minnesota's finance department did not return a call for comment.)

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U.S. SEC fines 13 advisers for false claims involving F-Squared

U.S. SEC fines 13 advisers for false claims involving F-Squared

Published 25/08/2016

The headquarters of the U.S. Securities and Exchange Commission (SEC) are seen in Washington, July 6, 2009. REUTERS/Jim Bourg

The U.S. Securities and Exchange Commission fined 13 investment advisory firms on Thursday for spreading false claims made by the now-defunct F-Squared Investments Inc, which had been one of the largest marketers of investment products using exchange-traded funds.

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SEC fines Wilbur Ross firm $2.3 million over fees

SEC fines Wilbur Ross firm $2.3 million over fees

Published 24/08/2016

Billionaire U.S. investor Wilbur Ross poses for a photo after an interview with Reuters on the sidelines of a conference at a hotel in Singapore September 25, 2012. REUTERS/Tim Chong

Billionaire investor Wilbur Ross' investment firm WL Ross & Co agreed on Wednesday to pay a $2.3 million fine to the Securities and Exchange Commission to settle charges that it did not properly disclose some fees it charged investors.

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‘Grumpy hold-outs’ could sink Bitfinex recovery plan after Bitcoin theft

‘Grumpy hold-outs’ could sink Bitfinex recovery plan after Bitcoin theft

Published 15/08/2016

By Clare Baldwin | HONG KONG HONG KONG Crypto-currency exchange Bitfinex's plan to impose losses on all its trading clients for the theft by hackers [more…]

Atlanta Fed pares U.S. third-quarter GDP view to 3.5 percent

Atlanta Fed pares U.S. third-quarter GDP view to 3.5 percent

Published 12/08/2016

NEW YORK The U.S. economy is on track to grow at a 3.5 percent annualized rate in the third quarter following weaker-than-expected data on retail [more…]

Legg Mason’s Bill Miller leaves firm amid faded glory

Legg Mason’s Bill Miller leaves firm amid faded glory

Published 11/08/2016

By Richard Leong and Ross Kerber | NEW YORK/BOSTON NEW YORK/BOSTON Legg Mason Inc's Bill Miller, whose mutual fund beat the S&P 500 handily for [more…]