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LONDON The world’s nine biggest insurance companies will have to hold more capital under new rules just finalised by global regulators that aim to prevent taxpayer bailouts of the industry in a crisis. Regulators decided to look at the multi-trillion dollar in... More »
Investors pulled $2.3 billion in assets from Pacific Investment Management Co’s flagship fund in September, up from $1.8 billion the previous month, as market sentiment soured over persisting concerns of the impact of Chinese slowdown on the global economy and... More »
NEW YORK DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned after a weak non-farm payrolls report on Friday that the U.S. equity market as well as other risk markets including high-yield “junk” bonds face another r... More »
TORONTO Royal Bank of Canada led a rise in the value of Canadian equity issues for the first nine months of 2015, overcoming a slowdown in the third quarter due to increased choppiness in equity markets. Equity financings rose to C$36 billion ($27.23 billion) ... More »
ZURICH The Swiss competition regulator has opened an investigation into possible collusion in the precious metals market by several major banks, it said on Monday, the latest in a string of manipulation probes. Switzerland’s WEKO watchdog said its investigatio... More »
NEW YORK The global market volatility that upended investors over the last six weeks may last deep into autumn now that the Federal Reserve has decided to keep interest rates unchanged, several equity and fixed income portfolio managers said on Thursday. The F... More »
FRANKFURT German publisher Axel Springer (SPRGn.DE) may want to increase its current 7 percent stake in U.S. news website Business Insider, German Manager Magazin reported on Thursday. Citing unnamed financial sources, the magazine said the publisher of Europe... More »
As the fall wedding season begins, advisers should make sure they have a comprehensive plan to help clients who are getting married. Advisers need to look at the big picture, like if the couple’s retirement goals align, and the nitty gritty, such as insurance ... More »
BNY Mellon Corp (BK.N) expects to fix the computer glitch that disrupted pricing of U.S. mutual funds and exchange-traded funds before markets open on Monday, its chief executive said. The resolution of the issue, which affected the calculation of billions of ... More »
TORONTO The owner of adultery website Ashley Madison had already been struggling to sell itself or raise funds for at least three years before the publication of details about its members, according to internal documents and emails also released by hackers as ... More »
TORONTO Bank of Nova Scotia, which reported a quarterly profit that beat market expectations on Friday, said bad loans in the energy sector climbed as the oil price selloff took a toll. Shares of Scotiabank, Canada’s third-largest bank, were down nearly 1 perc... More »
BNY Mellon Corp’s (BK.N) computer glitch this week has disrupted pricing on nearly 5 percent of U.S. mutual funds and exchange-traded funds with about $404 billion in assets, according to data from Morningstar Inc and Lipper Inc. On Thursday, for example, 1,30... More »
LONDON/BOSTON Investors are being poorly served by a haphazard approach from fund managers to the growing threat of cyber crime damaging the companies in which they invest, with a lack of clarity from the businesses themselves compounding the problem. Banks ha... More »
College and professional athletes may be clients financial advisers love to get, but many also find good homes on the other side of the desk. Penn Mutual Life Insurance Company, for example, is discovering that its three-year, $1.5 million sponsorship, through... More »
TORONTO/OTTAWA Canadian banks are expected to begin feeling the impact of an extended downturn in the energy sector as they exercise caution with new and existing loans to companies and individuals. Investors will this week be poring over the balance sheets an... More »
JAKARTA Indonesian President Joko Widodo put two experienced technocrats into economic management posts on Wednesday in a cabinet reshuffle designed to reassure investors worried about a policy drift that has allowed growth to slip to a six-year low. Widodo’s ... More »
NEW YORK A group of mainly U.S.-based stock traders and computer hackers in Ukraine made as much as $100 million in illegal profits over five years by conspiring to use information stolen from thousands of corporate press statements before their public release... More »
Credit Suisse Group AG (CSGN.VX) is in talks to settle allegations related to its Crossfinder “dark pool” trading venue, which could result in a fine running in the high tens of millions of dollars, the Wall Street Journal reported, citing people familiar with... More »
NEW YORK A group of mainly U.S.-based stock traders and computer hackers in Ukraine made as much as $100 million in illegal profits over five years by conspiring to use information stolen from thousands of corporate press statements before their public release... More »
Deal makers and employees at private equity firms are expected to receive the biggest bonus increases this year on Wall Street, according to a forecast by compensation consulting firm Johnson Associates. Overall, however, year-end incentive payments on Wall St... More »
NEW YORK Growing pension obligations at Precision Castparts Corp (PCP.N), which Berkshire Hathaway has agreed to buy for $32 billion, highlight an issue that large U.S. corporations still face, almost a decade into a low-interest rate environment. Berkshire’s ... More »
Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) (BRKb.N) said on Friday its second-quarter profit fell 37 percent, reflecting a significant decline in investment gains and an underwriting loss from insurance operations, which include Geico. Net income for the... More »
SAO PAULO HSBC Holdings Plc (HSBA.L) agreed to sell its Brazilian unit to Banco Bradesco SA (BBDC4.SA) for $5.2 billion, retreating from the second-largest emerging market economy after years of disappointing performance. Europe’s No. 1 bank said in a statemen... More »
LONDON U.S. equities’ share in global portfolios fell to the lowest in at least five years and U.S. bond allocations were also cut as nervous investors started readying themselves for the first Federal Reserve rate rise in almost a decade. But while U.S. asset... More »
LOS ANGELES Comcast Corp’s (CMCSA.O) NBCUniversal film and television unit is close to making an investment in online publisher BuzzFeed and is in talks to raise its stake in Vox Media, a person with knowledge of both sets of discussions said on Thursday. The ... More »
LONDON Lloyds (LLOY.L) is due to set out its dividend plans next week, including how and when it might return surplus capital to shareholders, making the stock more attractive ahead of a planned sale of some of the government’s shares to retail investors, indu... More »
BANGKOK/HONG KONG U.S. fund giant BlackRock Inc (BLK.N) has won a special new licence that will allow it to raise funds in China directly for the first time, a senior executive told Reuters, paving the way for the world’s largest money manager to expand in the... More »
SHANGHAI Chinese stocks fell on Tuesday, taking little comfort from a slew of support measures unleashed by Beijing in recent days, and unnerved by Chinese Premier Li Keqiang’s failure to mention the market chaos in a statement on the economy. Before the marke... More »
SAO PAULO Swiss lender UBS AG made a whistleblower deal with Brazilian authorities investigating the suspected rigging of Brazil’s currency market and will receive no punishment in the case, a local newspaper reported on Friday. The investigation, which involv... More »
A clothing designer area is pictured at TechShop in the South of Market neighborhood in San Francisco, California April 24, 2014. REUTERS/Robert Galbraith In the shadow of Internet monoliths such as Facebook, Google and Twitter, it’s easy to forget that Silico... More »
A Cisco office is pictured in San Diego, California November 12, 2012. REUTERS/Mike Blake Cisco’s corporate venture-capital arm said it would deploy $150 million to start-up companies over the next two to three years, accelerating its investments into areas su... More »
Pedestrians walk past the NASDAQ MarketSite in New York’s Times Square in this June 4, 2012 file photo. REUTERS/Eric Thayer/Files Private equity firm KKR & Co LP (KKR.N) plans to allow investors to sell parts of their stake in buyout funds through a new privat... More »
