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United States Oil Fund faces possible SEC action: filing

(Reuters) – The U.S. Securities and Exchange Commission is considering enforcement action against United States Oil Fund LP, the largest crude oil exchange-traded fund, due to statements made after oil prices plunged into negative territory in April. The Unite... More »

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Berkshire slashes Wells Fargo, JPMorgan stakes- adds Barrick Gold

(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) said on Friday it has sold shares of some of the largest U.S. banks, slashing its stakes in Wells Fargo & Co (WFC.N) and JPMorgan Chase & Co (JPM.N) and exiting an investment in Goldman Sachs Group I... More »

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U.S. equity funds post $5.6 billion weekly inflow: Lipper

(Reuters) – U.S. equity, municipal and taxable bond funds posted inflows in the week ended on Wednesday, while money market fund saw outflows, according to Lipper. U.S. equity funds registered $5.6 billion in inflows in the week ended on Wednesday, according t... More »

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U.S. stock funds shed $1.05 billion in week: Lipper

(Reuters) – U.S.-based equity funds in the week ended Wednesday posted $1.05 billion in outflows, according to Lipper. Taxable bond funds attracted $9.37 billion, the sixteenth straight weekly inflow, while U.S. money market funds shed $17.44 billion in the la... More »

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Three ways to make the most from a virtual internship

NEW YORK (Reuters) – As someone who dreams of a career in the music business, Amanda Montgomery had big plans for her summer internship – working in studios, going on shoots for music videos, maybe taking in some live concerts. Thanks to COVID-19, her internsh... More »

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TCI sees Autostrade valuation between 11-12 billion euros-partner

MILAN (Reuters) – Activist hedge fund TCI Fund Management, which is challenging the Italian government over the forced sale of Atlantia’s Autostrade per l’Italia (ASPI) unit, said on Friday the value of Autostrade could be between 11 and 12 billion euros. “I b... More »

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U.S. stock funds draw $3.3 billion in latest week: Lipper

(Reuters) – U.S.-based stock funds in the week ended Wednesday saw $3.3 billion of inflows, according to Lipper. Taxable bond funds attracted $11.1 billion, the fifteenth straight weekly inflow, while U.S. money market funds drew $20.4 billion in the latest we... More »

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Cohen’s Point72 to open Warsaw office for some back office teams

BOSTON(Reuters) – Billionaire investor Steven A. Cohen’s Point72 Asset Management is opening the $16.2 billion firm’s latest satellite location in Warsaw and moving some back office operations to lower-cost Poland. Point72, based in Stamford, Connecticut with ... More »

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Mednax CEO, board directors replaced amid settlement with Starboard

BOSTON (Reuters) – Healthcare services company Mednax’s (MD.N) stock price closed up nearly 4% on Monday after its founder and chief executive and several board members were replaced, half a year after activist investor Starboard Value began pressing for chang... More »

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Cannae, Senator hire D.F. King as solicitor in bid for CoreLogic

BOSTON (Reuters) – Cannae Holdings and Senator Investment Group, which are trying to buy property data and analytics company CoreLogic Inc, have hired a proxy solicitor, a source familiar with the matter said on Thursday. A proxy solicitor polls large sharehol... More »

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U.S. stock funds see first inflow in four weeks: Lipper

(Reuters) – U.S. equity funds in the week ended on Wednesday drew $609 million, the first inflow in four weeks, according to Lipper. U.S. taxable bond funds attracted $12.6 billion, the 13th straight weekly inflow, while money market funds saw $4.7 billion com... More »

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Bond investors wait for more headlines on EU recovery fund

AMSTERDAM (Reuters) – Euro zone bond yields held their ground on Thursday with investors’ main focus expected to be any new developments on the European Union’s recovery fund, which aims to help the region’s economy recover from the coronavirus crisis. Hopes a... More »

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CoreLogic rejects $7 billion takeover bid from investment firms

(Reuters) – Property data and analytics company CoreLogic rejected an unsolicited $7 billion takeover offer from two investment firms on Tuesday, saying it expected to earn more this year and would buy back more of its stock. A consortium of Cannae Holdings In... More »

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U.S. stock funds shed $4.6 billion in week: Lipper

(Reuters) – The final days of the best quarter for the benchmark S&P 500 since 1998 were not enough to keep investors from pulling $4.6 billion out of U.S.-based stock funds in the week that ended Wednesday, according to Lipper data released on Thursday. The S... More »

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Rainy day hastens sovereign wealth funds’ refocus to home

LONDON (Reuters) – Famed for snapping up glitzy real estate and stakes in troubled international banks during the global financial crisis, sovereign wealth funds are investing more at home, a trend set to accelerate in the wake of the economic carnage wrought ... More »

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How to control college costs in the age of COVID-19

NEW YORK (Reuters) – Tina Smets had long thought about getting a college degree, but that seemed impossible. As a mom of three kids, waitressing nights at a local restaurant in Kearney, Nebraska, the 31-year-old did not want to saddle her young family with ton... More »

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Fund giant BlackRock ‘warming up’ to European assets

LONDON (Reuters) – BlackRock’s Investment Institute said on Tuesday it was “warming up” to European assets following what it called the eurozone’s “impressive” efforts to tackle the coronavirus. The research arm of the world’s biggest fund manager said two fac... More »

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U.S. money market assets decreased in latest week: iMoneyNet

NEW YORK, June 10 (Reuters) – U.S. money market fund assets decreased by $24.84 billion to $4.668 trillion in the week ended June 9, the Money Fund Report said on Wednesday. Taxable money market fund assets decreased by $24.31 billion to $4.534 trillion, while... More »

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Column: What COVID-19 is teaching us about how to reform Medicare

CHICAGO (Reuters) – The COVID-19 pandemic has put a bright spotlight on weaknesses in many of the systems designed to protect Americans from risks. But with older people more susceptible to serious illness and death from the virus, the problems in our Medicare... More »

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Ackman says hedge fund up 27% year to date, dumped Berkshire

BOSTON (Reuters) – William Ackman’s hedge fund is boasting double-digit gains at a time many portfolios have sunk along with the economy during the coronavirus pandemic, after the billionaire investor plowed cash into a number of companies he already owned and... More »

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Northern Trust shutting fund- an outlier or sign of future risk?

BOSTON (Reuters) – Northern Trust Corp’s decision to liquidate a $1.8-billion prime money market fund was seen as an outlier event by industry analysts on Wednesday, but one that could portend more problems depending on how the economy fares. Money has rushed ... More »

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U.S. bank regulator finalizes new community lending rule

WASHINGTON (Reuters) – A U.S. banking regulator announced on Wednesday it had finalized work on a long-running effort to change community lending standards for banks. The new rule from the Office of the Comptroller of the Currency (OCC) is an update to require... More »

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Your small business and COVID-19 questions, answered

NEW YORK (Reuters) – Small businesses are among the hardest hit as the coronavirus pandemic continues to cause economic uncertainty in communities across the United States. As some state economies begin to reopen, we invited a group of small business experts t... More »

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U.S.-based stock funds post $3.2 billion weekly inflow: Lipper

(Reuters) – U.S.-based stock funds posted $3.2 billion in inflows in the week ended on Wednesday, according to Lipper. U.S. taxable bond funds attracted $10.35 billion, the fifth straight weekly inflow, while money market funds drew $20.3 billion, Lipper data ... More »

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U.S. stock funds shed $10.8 million in week: Lipper

(Reuters) – U.S.-based stock funds posted $10.8 billion in outflows in the week ended ON Wednesday, according to Lipper. U.S. taxable bond funds attracted $11.9 billion, the fourth straight weekly inflow, while money market funds draw $32.8 billion, the tenth ... More »

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Fund managers fish for dividend plays amid sharp cuts

NEW YORK (Reuters) – Some dividend fund managers are wading back into the shares of battered railroad stocks, energy companies and other economically sensitive, cyclical names, even as a host of companies have slashed their payouts. Cyclical stocks were among ... More »

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Your unemployment questions, answered

NEW YORK (Reuters) – U.S. jobless claims have exceeded 30 million since the coronavirus outbreak hit the country, wiping out a decade of job gains and sending many Americans scrambling to find work and cash in on government aid. As part of our weekly #AskReute... More »

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US money market assets increased in latest week: iMoneyNet

NEW YORK, April 29 (Reuters) – U.S. money market fund assets increased by $72.69 billion to $4.652 trillion in the week ended April 28, the Money Fund Report said on Wednesday. Taxable money market fund assets increased by $74.71 billion to $4.515 trillion, wh... More »

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Fear, sticker shock over health insurance greet laid-off workers

NEW YORK (Reuters) – If you were laid off in April, the health insurance from your job may stop at the end of the month. Then what? Rest assured there are options, even if they are all expensive. If you are losing a workplace plan, you will get paperwork expla... More »

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Your Money: Stimulus check confusion? Common questions, answered

NEW YORK (Reuters) – In a little over a year, when Americans file their 2020 tax returns, much of what is going on with coronavirus-linked stimulus payments will finally add up. Until then, prepare for confusion. Think you got shorted on the Economic Impact Pa... More »

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Some U.S. fund managers risk long-term bets on tanking oil sector

NEW YORK (Reuters) – Some U.S. fund managers are attempting what seems like an impossible task: making bets on the stocks and bonds of energy companies at a time when oil futures have sunk to historic lows and a swelling global glut shows no sign of letting up... More »

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Your Money: Why you might be afraid to spend your stimulus check

NEW YORK (Reuters) – If you got your stimulus payment this week from the IRS and it is still in your account, are you afraid to spend it? Many recipients immediately deployed the money they received as part of the CARES Act – up to $1,200 per adult and $500 pe... More »

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Your questions on the lockdown and U.S. small business, answered

NEW YORK (Reuters) – After closing their doors to prevent the spread of the coronavirus, many small businesses face an uncertain future following government-ordered lockdowns. As part of our weekly #AskReuters Twitter chat series, Reuters gathered a group of s... More »

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Investors fled bonds as well as stocks in March

(Reuters) – Investors withdrew record amounts of money from bond and equity funds in March while money market funds showed record inflows, as the prospect of a massive economic downturn due to coronavirus rattled nerves, according to the latest data from Lippe... More »

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Your Money: Get aid or go bust? Small businesses face dilemma

NEW YORK (Reuters) – Sara Pauly is not one of those small business owners scrambling to fill out paperwork for part of the more than $350 billion in government aid available through the Paycheck Protection Program or the Economic Injury Disaster Loan. Instead,... More »

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Your remote work questions, answered

NEW YORK (Reuters) – Many Americans have found themselves quickly adjusting to new routines, offices and “co-workers” as mass lockdowns keep millions of employees confined to their homes and apartments. As part of our #AskReuters Twitter chat series, Reuters i... More »

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VIX futures point to coronavirus worries for months to come

NEW YORK (Reuters) – Investors are betting on stocks to remain volatile well into the year, suggesting that many expect the long-term economic and public health impact of the pandemic caused by the novel coronavirus to continue roiling markets despite a recent... More »

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Cell towers, warehouses look like safe plays in U.S. real estate

NEW YORK (Reuters) – Some top-performing U.S. fund managers see opportunities in one of the sectors hardest hit by the coronavirus pandemic, cautiously increasing stakes in niches of the real estate market like cell phone towers and warehouses, which they see ... More »

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Your Money: Make a big impact with your COVID-19 charity dollars

NEW YORK (Reuters) – When Rachel Baron wanted to give back to her community affected by COVID-19, her first thought was to help local emergency room doctors. So the 46-year-old advertising copywriter worked with some friends to set up food deliveries from loca... More »

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Elliott hedge fund gains in March, up 2.2% for year: client update

BOSTON (Reuters) – Paul Singer’s Elliott International Ltd hedge fund gained an estimated 0.1% in March and is now up 2.2% for the year through the first quarter, according to an update sent to clients on Friday and seen by Reuters. A spokesman for New York-ba... More »

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Coronavirus fiscal fallout on U.S. muni issuers worries investors

CHICAGO (Reuters) – Investors in the U.S. municipal bond market are growing increasingly worried over the ability of states, cities and other debt issuers to weather the financial fallout of the COVID-19 pandemic caused by the novel coronavirus. Those concerns... More »

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Hedge fund Glenview off 30% as coronavirus weighs on portfolio

BOSTON (Reuters) – Glenview Capital Management, the hedge fund run by Larry Robbins, has lost roughly 30% in the first three months of 2020 as the spread of the new coronavirus hurt the healthcare facilities and hospital operators the firm has invested in. The... More »

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Multi-strategy hedge funds outperformed peers as market plunged

BOSTON (Reuters) – Multi-strategy hedge funds – those that bet on a broad array of markets using teams of traders, leverage and centralized risk management – have flourished as stocks ended their worst three months since the 2008 financial crisis. Balyasny Ass... More »

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Invesco to sell all unquoted holdings in UK equities portfolios

LONDON (Reuters) – Invesco said on Tuesday it would sell all the unquoted companies currently held in its UK equities portfolios and has marked down their value by 60% as a result of recent coronavirus-fueled market falls. The U.S.-based manager said it would ... More »

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Hedge fund Fir Tree puts $410 million dislocation fund to work

BOSTON (Reuters) – After years of waiting and watching from afar, hedge fund Fir Tree Partners is spending $410 million from its dislocation funds on stocks, pockets of the credit market and other securities, sure the historic market sell-off made new bargains... More »

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Ackman says TV interview did not lead to profit on trades

BOSTON (Reuters) – Billionaire investor William Ackman said a CNBC television interview he gave last week was not designed to profit from any trades, dismissing some media speculation he had purposely pushed markets lower to make money off his hedges. “Our hed... More »

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Settlement talks between First United, Driver Management break down

BOSTON (Reuters) – Talks between First United Corp and Driver Management to settle a fight for board seats at the bank holding company broke down when the activist investor rejected the offer, two sources familiar with the matter said on Thursday. “Your ‘best ... More »

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Pay for cleaners, babysitters and dogwalkers hangs in the balance

NEW YORK (Reuters) – Lily Reiche has lost nearly half of her dogwalking clients in Los Angeles because of California’s coronavirus stay-at-home order. Of the 40 or so accounts at My Dog Spot, which dried up because people are either working from home or have l... More »

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New CEO pay limits loom as investors confront coronavirus crisis

BOSTON/LONDON (Reuters) – The havoc wrought by the coronavirus crisis could give investors leverage to put new limits on CEO pay packages and link them more closely to a range of social and environmental issues at companies’ annual meetings this spring. Execut... More »

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White House not considering three-month tariff deferral: Navarro

(Reuters) – The White House’s top trade advisor denied on Tuesday that the Trump administration was considering a three-month deferral of tariff payments on imported goods to ease the pain of the economic shutdown caused by the coronavirus pandemic. Industry g... More »

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Your Money: Coronavirus fears shake Yale economist Robert Shiller

NEW YORK (Reuters) – In scary times like these, it is comforting to talk to someone who has seen and studied a lot of things – booms, busts, and everything in between. Enter Robert Shiller. The Yale University economics professor and Nobel Prize winner recentl... More »

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Your Money: Now is not the time to stop saving for retirement

NEW YORK (Reuters) – When you see soda on sale at the supermarket, do you run screaming into the parking lot in a panic? Or do you buy six? This is the analogy Peter Palion, a certified financial planner in New York, uses to calm worried clients about volatili... More »

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Prime money-market funds could slow redemptions as they bleed assets

BOSTON (Reuters) – U.S. prime money-market funds have lost more than 10% of their assets and the prospect of funds slowing customer redemptions is rising amid unprecedented market turmoil, top credit-rating agency Moody’s Corp said on Thursday. “The risk of fu... More »