Samuel Merksamer, who represents billionaire Carl Icahn on several corporate boards, has exited the activist investor’s firm and a source familiar with his plans said that he is exploring launching his own hedge fund. More »
A shopper passes a ”Sale” sign at Quincy Market in downtown in Boston, Massachusetts, U.S. January 11, 2017. REUTERS/Brian Snyder The U.S. economy is on track to grow at a 2.5 percent annualized pace in the first quarter following the latest data on home sales... More »
More Chinese companies are looking to raise debt offshore after Beijing approved a new funding structure last month that makes it easier and cheaper to tap foreign lenders. More »
A man wears U.S. dollar sign rings in a jewellery shop in Manhattan in New York City November 6, 2014. REUTERS/Mike Segar Web conferencing provider Premiere Global Services (PGi) is considering a return to the loan market to reprice its debt and even add a lit... More »
Appliances and electronics retailer hhgregg Inc is preparing to file for bankruptcy as soon as next month, Bloomberg reported on Friday. More »
A woman walks past the logo of Swiss power technology and automation group ABB ahead of a news conference to present the company’s full-year results in Zurich, Switzerland February 8, 2017. REUTERS/Arnd Wiegmann Swiss engineering group ABB (ABBN.S) revealed th... More »
People walk past the Reserve Bank of India (RBI) building in New Delhi, India. Picture taken March 2, 2016. REUTERS/Anindito Mukherjee A proposal by India’s central bank to set up new private or state companies that would buy up bad debt from lenders was met w... More »
The logo of Toshiba Corp is seen behind a traffic signal at its headquarters in Tokyo, Japan January 27, 2017. REUTERS/Toru Hanai Shares in Japan’s Toshiba sank 10 percent on Friday, after credit rating firm S&P Global said it could slash the conglomerate’s ra... More »
U.S. President-elect Donald Trump is broadcast on a screen on the floor at the New York Stock Exchange (NYSE) in Manhattan, New York City, U.S. December 27, 2016. REUTERS/Andrew Kelly Investors boosted their bets on U.S.-based equity funds in the latest week a... More »
Toshiba Corp (6502.T) has decided to delay the sale of shares in its chip business to the next financial year or later, Japan’s Kyodo news agency reported on Wednesday, without citing sources. More »
Reporters raise their hands for a question during a news conference by Toshiba Corp CEO Satoshi Tsunakawa and other senior sompany officials at the company’s headquarters in Tokyo, Japan February 14, 2017. REUTERS/Toru Hanai Japan’s Toshiba Corp on Wednesday a... More »
The logo of Toshiba Corp is seen as Window cleaners work on the company’s headquarters in Tokyo, Japan, February 14, 2017. REUTERS/Toru Hanai Japan’s Toshiba Corp (6502.T) said it has asked regulators to allow it to delay the release of its earnings, including... More »
By Shankar Ramakrishnan, Will Caiger-Smith and Natalie HarrisonNEW YORK (IFR) – A revolt by bond-buyers has slowed the recent trend of issuer-friendl More »
A commuter passes by the New York Stock Exchange (NYSE) in the financial district in New York City, U.S., February 7, 2017. REUTERS/Brendan McDermid Global investors poured money into stocks, emerging markets and corporate debt in the week to Wednesday, as the... More »
A logo of Ant Financial is displayed at an event of the company in Hong Kong, China November 1, 2016. REUTERS/Bobby Yip China’s most valuable online finance company, Ant Financial, is in early stage talks with banks to raise between $2 billion to $3 billion in... More »
Evidence that Dodd-Frank Act regulation is making lending conditions tighter is thin on the ground, at least for the vast majority of the U.S. economy. More »
Dubai is finalizing a $3 billion, seven-year syndicated loan needed to back the expansion of Al Maktoum International Airport and plans to sign the facility over the next few weeks, banking sources familiar with the situation said on Monday. More »
Jared Kushner, senior advisor to President-elect Donald Trump arrives for the Presidential Inauguration of Trump at the U.S. Capitol in Washington, D.C., U.S., January 20, 2017. REUTERS/Saul Loeb/Pool By Joy WiltermuthNEW YORK (IFR) – Investors on Friday snapp... More »
A logo of BNP Paribas is seen outside its Tokyo headquarters, Japan, January 7, 2016. REUTERS/Yuya Shino/File Photo BNP Paribas has poached three senior bankers for its equity capital markets (ECM) and cash equities teams, and the French bank added that global... More »
Investors pulled cash from stock funds and bought government bonds during the latest week, favoring a defensive stance over the risk-trading spectacle that has followed the presidential election, Lipper data for U.S.-based funds showed on Thursday. More »
Matthew Ponsonby speaks during the Reuters Global Mergers and Acquisitions Summit in London April 4, 2011. REUTERS/Benjamin Beavan Barclays vice chairman of banking, Matthew Ponsonby will retire from the British bank at the end of January, according to a memo ... More »
Investors in U.S.-based funds poured $4 billion into investment-grade corporate bond funds in the week ended Jan. 11, marking the funds’ biggest inflows since early February 2015, data from Thomson Reuters’ Lipper service showed on Thursday. More »
An American Apparel store logo is pictured on a building along the Lincoln Road Mall in Miami Beach, Florida March 17, 2016. REUTERS/Carlo Allegri Canadian apparel maker Gildan Activewear Inc (GIL.TO) has won a bankruptcy auction for U.S. fashion retailer Amer... More »
The offices of Pacific Investment Management Co (PIMCO) (L) are shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake/Files Investors pulled $3.2 billion from the Pimco Total Return Fund, once the world’s largest bond fund, in December, bringin... More »
U.S.-based taxable bond funds netted cash for the first time in four weeks, Lipper data released on Thursday showed, a sign that savers may be less wary than the Federal Reserve of inflation under the incoming Trump administration. More »
Hedge fund investor Leon Cooperman, the chief executive of Omega Advisors, told CNBC on Thursday his firm’s assets had shrunk to $3.4 billion after the U.S. Securities and Exchange Commission’s insider trading charges. More »
U.S. money market fund assets decreased by $20.96 billion to $2.677 trillion in the week ended Jan 3, the Money Fund Report said on Wednesday. More »
People line up to get into a Banco de Venezuela branch in San Antonio del Tachira, Venezuela December 13, 2016. REUTERS/Carlos Eduardo Ramirez Venezuela has issued $5 billion in bonds maturing in 2036 to a state-owned bank, a source familiar with the situation... More »
U.S.-based stock funds pulled in $11.8 billion in the week ended Dec. 28, data from Lipper showed on Thursday, ending 2016 with an enthusiasm for stocks that had been lacking for the better part of the year. More »
U.S.-based stock funds posted $21.6 billion in withdrawals during the latest week, Lipper data showed on Thursday, adding to a trend of outflows from actively managed mutual funds that has lasted much of the year. More »
The main entrance of the Monte dei Paschi bank headquarters is seen in Siena, Italy March 13, 2012. REUTERS/Max Rossi/File Photo On the morning of July 29, former Italian Industry Minister Corrado Passera was traveling in a high-speed train towards the medieva... More »
A statue is pictured next to the logo of Germany’s Deutsche Bank in Frankfurt, Germany September 30, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank’s pursuit of success on Wall Street has come at a high price, a $7 billion plus penalty illustrating the... More »
Greek Finance Minister Euclid Tsakalotos delivers a speech during a parliamentary session before a budget vote in Athens, Greece, December 10, 2016. REUTERS/Alkis Konstantinidis Greek Finance Minister Euclid Tsakalotos on Thursday defended Athens’ plans to pay... More »
Investors piled into stock exchange-traded funds at the fastest pace since their record-setting haul following the U.S. presidential election, Lipper said on Thursday, as policymakers raised interest rates. More »
People sit outside the New York Stock Exchange (NYSE) during the morning commute in New York City, U.S., September 15, 2016. REUTERS/Brendan McDermid – US leveraged lending guidelines could ease if a Wall Street-friendly Trump administration tells regulators t... More »
The Amundi company logo is seen at their headquarters in Paris, France, October 7, 2015. REUTERS/Philippe Wojazer French fund management company Amundi (AMUN.PA) is to buy asset manager Pioneer from Italian bank UniCredit (CRDI.MI) for 3.55 billion euros ($3.7... More »
Principal Global Investors CEO Jim McCaughan poses during an interview with Reuters at his office in Tokyo, Japan, December 9, 2016. REUTERS/Kim Kyung-Hoon Principal Global Investors has upgraded its view on the U.S. economy and equities as it sees higher grow... More »
The Credit Suisse logo is seen at the headquarters in Milan, Italy, March 9, 2016. REUTERS/Stefano Rellandini/File Photo Credit Suisse on Friday said it would lower investors’ hurdle to redeeming two popular exchange-traded notes, used to bet on the price of o... More »
Investors are paying a price for not finding buyers for popular exchange-traded notes (ETN), used to bet on oil prices, that delisted from U.S. exchanges this week. More »
U.S. dollar notes are seen in this November 7, 2016 picture illustration. Picture taken November 7. REUTERS/Dado Ruvic/Illustration Investors pulled $4.1 billion from U.S.-based taxable-bond mutual funds, the most since June, as a bond selloff forced interest ... More »
The rout in world bond markets gathered pace in the past week, making November a watershed month for fund flows as bond funds chalked up their heaviest outflows in three and a half years, Bank of America Merrill Lynch said on Friday. More »
A packet of former U.S. President Abraham Lincoln five-dollar bill currency is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron/File Photo The DoubleLine Total Return Bond Fund had net outflows of $1.4 billio... More »
Investors pulled more money from U.S.-based bond funds during the latest week, Lipper data showed on Friday, adding to an onslaught following the U.S. presidential election. More »
German Finance Minister Wolfgang Schaeuble arrives for the weekly cabinet meeting at the Chancellery in Berlin, Germany, November 9, 2016. REUTERS/Axel Schmidt Germany on Wednesday opposed calls for debt relief for Greece after U.S. President Barack Obama offe... More »
Advertising covers the abandoned structure of an unfinished condominium in the Condado tourist district of San Juan, Puerto Rico August 31, 2013. REUTERS/Alvin Baez/File Photo The federal board overseeing Puerto Rico’s financial restructuring on Friday set a t... More »
Dawn Fitzpatrick, global head of equities, multi-asset and the O’Connor hedge fund businesses at UBS Asset Management, speaks during the Reuters Global Investment Outlook Summit in New York City, U.S., November 17, 2016. REUTERS/Brendan McDermid Investors who ... More »
Gabor Vona, chairman of the far right Jobbik party, speaks during an interview with Reuters in Budapest, April 14, 2015. REUTERS/Bernadett Szabo The Hungarian nationalist opposition party Jobbik said on Monday it would resubmit to parliament a constitutional a... More »
Republican presidential nominee Donald Trump arrives for his election night rally at the New York Hilton Midtown in Manhattan, New York, U.S., November 9, 2016. REUTERS/Andrew Kelly/File Photo U.S. President-elect Donald Trump has requested that a trial over a... More »
William Ackman, founder and CEO of hedge fund Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermid Billionaire investor William Ackman on Thursday said he has had an “extremely const... More »
Investors in U.S.-based funds poured $1 billion into inflation-protected bond funds in the week ended Nov. 9, marking the funds’ second-biggest inflows since records began in October 2002, data from Thomson Reuters’ Lipper service showed on Thursday. More »
The headquarters of the Brazil’s largest fixed-line telecoms group Oi, is pictured in Rio de Janeiro, Brazil, June 22, 2016. REUTERS/Sergio Moraes Bernal More »
Windstream Holdings Inc said on Monday it would buy fellow U.S. telecommunications company EarthLink Holdings Corp in a deal valued at about $1.1 billion, including debt, in a bid to cut costs and better compete with rivals. More »
Shoppers ride an escalator at a Target Store in Chicago, November 25, 201. REUTERS/John Gress The U.S. economy is on track to grow at a 3.1 percent annualized pace in the fourth quarter due to expected stronger consumer spending and equipment investments as we... More »
The logo of Germany’s largest business bank, Deutsche Bank is seen in front of one of the bank’s office buildings in Frankfurt, Germany, October 27, 2016. REUTERS/Kai Pfaffenbach Deutsche Bank’s (DBKGn.DE) sale of a 20 percent stake in Chinese peer Hua Xia (60... More »
A Chinook helicopter flies over the Bank of England in the City of London, Britain, November 3, 2016. REUTERS/Peter Nicholls The Bank of England scrapped plans to cut interest rates and said they could move in either direction as it ramped up its forecasts for... More »
George Twopointoh, brand ambassador for Genworth, speaks with Ugo Dumont, a volunteer for the Genworth R70i Aging Experience, during a demonstration at the Liberty Science Center in Jersey City, New Jersey in this file photo dated April 5, 2016. REUTERS/Shanno... More »
U.S.-based bond funds charged back into the good graces of investors during the latest week, attracting $3.4 billion, Lipper data showed on Thursday. More »
Bain, Apollo and Lone Star have been shortlisted in the sale of building materials maker Xella, a potential 2 billion euro ($2.18 billion) deal, according to several people close to the transaction. More »
U.S. municipal market supply will likely be among the highest in a decade when an estimated $16.7 billion of bonds and notes goes up for sale next week, lead by deals from New Jersey and Alaska. More »
Companies including drywall and building materials manufacturer Continental Building Products are including exceptions in US leveraged loan credit agreements that could bypass auditors’ opinions and make it harder for banks to declare a default. More »
A labourer works at a construction site in Beijing’s central business district, China, July 15, 2016. REUTERS/Jason Lee Rising debt levels will worsen the credit profiles of China’s top 200 companies this year, requiring the country’s banks to raise as much as... More »
Jeroen Dijsselbloem participates in a discussion on the global economy during the World Bank/IMF Annual Meeting in Washington October 9, 2014. REUTERS/Joshua Roberts The fine proposed by the United States for Deutsche Bank is too big and undermines financial s... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid Jeffrey Gundlach, chief executive of DoubleLine Capital, said on Thursday that investors sh... More »
German chemical maker Lanxess (LXSG.DE) said on Monday it was confident that no rival bidder would trump its $2.7 billion takeover offer for U.S. peer Chemtura (CHMT.N). More »
The headquarters of Germany’s Deutsche Bank is photographed early evening in Frankfurt, Germany, January 26, 2016. REUTERS/Kai Pfaffenbach/File Photo Deutsche Bank (DBKGn.DE) will solve its problems without relying on help from Berlin, Germany’s flagship lende... More »
China has launched a 350 billion yuan ($52.5 billion) restructuring fund as the government pushes ‘supply-side’ reforms that have included mergers of inefficient state enterprises and laying off workers in struggling sectors such as coal and steel. More »
Yves Mersch, Member of the Executive Board of the European Central Bank presents an oversized newly unveiled 10 euro note at the headquarters of the European Central Bank (ECB) in Frankfurt, January 13, 2014. REUTERS/Ralph Orlowski European regulators must tel... More »
A screen displays stock charts while a trader works at his post on the floor at the New York Stock Exchange, May 30, 2013. REUTERS/Brendan McDermid With traditional dividend-paying stocks such as utilities and telecom companies trading near record highs, U.S. ... More »
Container vessel Hanjin Rome sits in the eastern anchorage area in Singapore September 9, 2016. REUTERS/Edgar Su The collapse of South Korea’s Hanjin Shipping (117930.KS), the world’s seventh-largest container carrier, has disrupted global trade networks and d... More »
Swiss biotechnology firm ADIENNE said on Monday it plans to seek a listing on Switzerland’s bourse in an initial public offering. More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 25, 2016. REUTERS/Brendan McDermid U.S. fund investors are bolstering their bets that the Federal Reserve will bypass an interest-rate increase later this month by p... More »
FILE PHOTO — The logo of Brazil’s largest fixed-line telecoms group Oi is seen inside a shop in Sao Paulo October 2, 2013. REUTERS/Nacho Doce/File Photo Brazilian telecom provider Oi SA is set to file its bankruptcy reorganization plan with a Rio de Janeiro co... More »
The Bank of America building is shown in Los Angeles, California October 29, 2014. REUTERS/Mike Blake/File Photo – RTSIJL2 Years of stubbornly low interest rates and expectations they will remain low for years to come have prompted U.S. banks to shift their ba... More »
Traders work on the floor of the New York Stock Exchange (NYSE) shortly after the opening bell in New York, U.S., August 30, 2016. REUTERS/Lucas Jackson The party looked to be waning for some popular investments in the latest week, with investors trimming expo... More »
Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid – RTX2CW2U Jeffrey Gundlach’s DoubleLine posted a net inflow of $790.23 million into its op... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 23, 2016. REUTERS/Brendan McDermid Investors trimmed risk assets before a gathering of central bankers on Friday, pulling $6.4 billion from U.S.-based stock funds in... More »
File photo of Vincent Bollore, Chairman of media group Vivendi, reacts during the company’s shareholders meeting in Paris, France, April 21, 2016. REUTERS/Charles Platiau/File Photo When French tycoon Vincent Bollore backed out of a deal to buy the pay-TV busi... More »
File photo of Vincent Bollore, Chairman of media group Vivendi, reacts during the company’s shareholders meeting in Paris, France, April 21, 2016. REUTERS/Charles Platiau/File Photo PARIS (Reuters) – When French tycoon Vincent Bollore backed out of a deal to b... More »
File photo of Vincent Bollore, Chairman of media group Vivendi, reacts during the company’s shareholders meeting in Paris, France, April 21, 2016. REUTERS/Charles Platiau/File Photo PARIS (Reuters) – When French tycoon Vincent Bollore backed out of a deal to b... More »
By Mathieu Rosemain | PARIS PARIS When French tycoon Vincent Bollore backed out of a deal to buy the pay-TV business of Italian broadcaster Mediaset (MS.MI), and instead proposed to take a large slice of the parent company itself, investors feared he was plott... More »
File photo of Vincent Bollore, Chairman of media group Vivendi, reacts during the company’s shareholders meeting in Paris, France, April 21, 2016. REUTERS/Charles Platiau/File Photo When French tycoon Vincent Bollore backed out of a deal to buy the pay-TV busi... More »
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 sales in July, the Atlanta Federal Reserve’s GDP Now forecast model showed on Friday. The latest third-quarter GDP... More »
By Trevor Hunnicutt | NEW YORK NEW YORK Investors reversed course and poured money into even the riskiest bonds in the latest week, for inflows into U.S.-based high-yield bond funds of $1.7 billion after two straight weeks of outflows, Lipper data showed on Th... More »
MILAN Italian bank Monte dei Paschi di Siena has secured underwriters to back a turnaround plan involving the sale of 9.2 billion euros ($10.3 billion) in bad loans and a 5 billion euros capital increase, the lender said in a statement on Friday. The country’s... More »
LONDON Japan’s SoftBank Group Corp (9984.T) has agreed to buy British chip designer ARM Holdings (ARM.L) for 24.3 billion pounds ($32 billion), in a deal that will retain the company’s management and grow its workforce. Arm, Britain’s preeminent technology com... More »
NEW YORK Donald Trump, who often says he only likes winners, tells one grand tale of loss: In 1990, he nearly went bankrupt and was forced to ask dozens of banks to whom he owed money to change the terms on their loans and forgive some of his debts. It was, th... More »
NEW YORK Former professional wrestler Hulk Hogan, whose lawsuit against Gawker Media LLC precipitated its bankruptcy, will serve on the committee of unsecured creditors, according to a court filing. The U.S. Trustee, a bankruptcy watchdog, appointed Hogan to t... More »
NEW YORK The British pound could weaken further in the next six months even if it enjoys a temporary rebound, a top BlackRock Inc investment strategist said on Friday after Britain voted to exit the European Union. “Sterling will weaken from here over the next... More »
NEW YORK U.S. money market mutual funds have reduced their exposure to short-term British bank debt ahead of the June 23 referendum on whether Britain would stay in the European Union, J.P. Morgan Securities said on Monday. At the end of May, the prime money f... More »
TOKYO SoftBank Group Corp (9984.T) said on Friday it was selling a further $1.1 billion of its shares in Alibaba Group Holding Ltd (BABA.N), bringing the total it has sold in the Chinese e-commerce company to $10 billion. Separately, SoftBank agreed to sell mo... More »
Facebook Inc’s (FB.O) board has proposed removing Mark Zuckerberg’s majority voting control in the event of the social media giant’s chief executive and founder deciding to exit management at some point in future. In a proxy filing with the U.S. Securities and... More »
LONDON Morgan Stanley upgraded European defensive stocks to “overweight” on Monday, raising its stance on consumer staples .SXQP stocks while downgrading the industrials .SXNP and basic materials .SXPP sectors. The Wall Street bank kept its “overweight” rating... More »
ZURICH Credit Suisse (CSGN.S) is placing asset management under the twin direction of its wealth management and Swiss banking divisions, it said on Sunday, announcing a further strategy rejig after a shake-up in October. Switzerland’s second largest bank will ... More »
LONDON Greek banking stocks could rise 90 percent from current levels and yield premiums over German benchmark bonds narrow if Greece and its creditors can reach a deal on releasing new bailout funds and debt relief, Morgan Stanley said on Wednesday. The broke... More »
SAO PAULO Oi SA (OIBR3.SA) will start talks to restructure $14.3 billion of bonds as early as Monday, sources familiar with the situation said, pitting some of the world’s biggest investors against each other as Brazil’s most-indebted phone carrier fights for ... More »
LONDON Investors withdrew $7.3 billion from stocks in the week to April 20, the largest outflows in nine weeks, while continuing to shovel money into corporate and emerging market debt, Bank of America Merrill Lynch (BAML) (BAC.N) said on Friday. The equity re... More »
NEW DELHI India’s finance ministry is asking for regular progress reports from tax collectors and has set a date for an amnesty to pay off arrears on undeclared domestic assets, as the government intensifies efforts to meet its ambitious deficit target. A seri... More »
Nearly two years into an epic oil rout, U.S. shale drillers that have upended global energy markets are finally feeling a credit squeeze as banks make their biggest cuts yet to their loans. Every six months, oil and gas producers and their banks negotiate how ... More »
