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PARIS (Reuters) – French media conglomerate Vivendi (VIV.PA) and activist fund Amber Capital – the two biggest shareholders in French company Lagardere (LAGA.PA) – said they would go to court over Lagardere’s refusal to hold a special shareholders meeting. The... More »
NEW YORK (Reuters) – Berkshire Hathaway Inc’s $6.2 billion foray into Japan’s five largest trading houses may signal billionaire Warren Buffett’s expectation that inflation and a falling U.S. dollar may make international equities more attractive when economie... More »
BENGALURU (Reuters) – Funds recommended equity holdings be trimmed to the lowest in over four years in August, despite record-breaking gains by world stocks, as the pandemic drags on and new data suggest the nascent economic rebound is stalling, Reuters polls ... More »
LONDON (Reuters) – Brexit safeguards to stop asset managers in Britain running “shell” investment funds in the European Union to retain access to its markets should be hardwired into EU law, the bloc’s securities watchdog said on Wednesday. After Britain voted... More »
(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 »
SHANGHAI (Reuters) – The former head of China’s securities regulator has raised concern about banks addressing funding shortages by ramping up issues of short-term interbank debt instruments that have in the past attracted regulatory scrutiny. Xiao Gang, forme... More »
(Reuters) – Barclays Plc (BARC.L) is being probed by the United Kingdom’s privacy watchdog, the Information Commissioner’s Office (ICO), over allegations that the British bank spied on its staff, the agency said on Sunday. Earlier this year, Barclays said it w... More »
DUBAI (Reuters) – Saudi information security company Elm is to acquire digital services company Tabadul from Saudi Arabia’s sovereign wealth fund, Elm said in a statement on Sunday. The Public Investment Fund (PIF) also owns Elm and was considering an initial ... More »
LONDON (Reuters) – Investors in property funds should wait up to 180 days before they can get their money back to avoid widespread suspensions in rocky markets, Britain’s Financial Conduct Authority proposed on Monday. UK-regulated open-ended property funds of... More »
CHICAGO (Reuters) – Charlie Rich, the late country music singer and songwriter, had it right when he crooned this famous line: “Oh, no one knows what goes on behind closed doors.” We need to remind Congress of the truth of that line as it tries to push a plan ... More »
(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 »
LONDON/ROME (Reuters) – Activist hedge fund TCI Fund Management said it has complained to the European Commission over “illegitimate expropriation” by the Italian government of Atlantia’s motorways unit Autostrade per l’Italia. TCI, an investor in Atlantia, sa... More »
(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 »
CHICAGO (Reuters) – The idea of using investments to promote environmental and social causes has grown quickly in recent years, and retirement plans looked like the next frontier – until the Trump administration weighed in last month. The U.S. Department of La... More »
HONG KONG (Reuters) – Global wealth managers are examining whether their clients in Hong Kong have ties to the city’s pro-democracy movement, in an attempt to avoid getting caught in the crosshairs of China’s new national security law, according to six people ... More »
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 »
LONDON (Reuters) – Investors pumped money into riskier bonds and equity funds, BofA’s weekly fund flow statistics showed on Friday, as unprecedented stimulus measures helped offset worries about rising COVID-19 case numbers in the United States. The policy sup... More »
BOSTON (Reuters) – Leaf Group said in a regulatory filing on Wednesday that one of its board members resigned and another was removed from the audit committee because he is ineligible to serve on it. The move comes just days after an investor group, which owns... More »
BOSTON (Reuters) – Activist investors demanded more change at European and Japanese companies in the first half of 2020 while giving U.S. companies a pass, for now, new data from investment bank Lazard show. While U.S. companies have long been activists’ favor... More »
(Reuters) – Pershing Square Tontine Holdings Ltd, the blank check company backed by billionaire investor Bill Ackman, has increased the size of its initial public offering by $1 billion to $4 billion, the largest ever IPO by a special purpose acquisition compa... More »
(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 »
(Reuters) – Several Silicon Valley firms backed by venture capitalists were unsure over whether to apply for a U.S. pandemic aid program, but data analyzed by CB Insights shows a big chunk of companies that raised funds this year also applied for the aid. Some... More »
(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 »
NEW YORK (Reuters) – U.S. equity funds that were able to best weather the global economic upheaval from the coronavirus pandemic this year are turning to healthcare, e-commerce and electric vehicle stocks as they look ahead to 2021. Few expect a quick economic... More »
BOSTON (Reuters) – More hedge funds went out of business during the first three months of 2020 than at any other time since 2015 as the coronavirus led to heavy losses and investors pulled out billions in assets. Hedge Fund Research reported on Tuesday that 30... More »
NEW YORK/LONDON (Reuters) – Funds that rode the market’s rally to generate the highest second-quarter returns included those invested in assets such as mining stocks, energy and technology. Global financial markets staged an impressive rebound in the second qu... More »
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 »
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 »
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 »
LONDON (Reuters) – Nikhil Rathi, head of the London Stock Exchange’s UK division, has been appointed chief executive of the Financial Conduct Authority (FCA), Britain’s finance ministry said on Monday. Rathi, a former finance ministry official, will play a key... More »
NEW YORK (Reuters) – Square Capital, a unit of payments company Square Inc, said on Monday it has issued more than $820 million worth of loans to small businesses to help them weather the economic shutdown brought on by the coronavirus pandemic. Square, founde... More »
LONDON (Reuters) – G7 government bonds? Check. Gold? Check. But that may not be enough as the coronavirus crisis accelerates a hunt for a wider pool of assets to better balance investment portfolios during stressful times. Corporate and Chinese government debt... More »
PARIS (Reuters) – French government and industry officials are negotiating a 1-billion-euro, privately led investment fund for small aerospace suppliers in which major manufacturers could invest 200 million euros, people familiar with the proposals said on Wed... More »
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 »
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 »
FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp’s CEO on Tuesday said there were no taboos in plans to consolidate its steel unit, marking a break with tradition under which the business had been sacrosanct for centuries. “Nothing is off-limits anymore,” Martin... More »
BENGALURU (Reuters) – WeWork’s India franchise said on Tuesday it laid off 100 employees, or 20% of its workforce, as the office-sharing startup joins a slew of firms that are cutting costs and revamping operations as a prolonged nationwide lockdown to curb th... More »
LONDON (Reuters) – The United States has overtaken China as the most attractive country in the world for renewables investment and the global clean energy sector is expected to bounce back quickly despite the coronavirus pandemic, research showed on Tuesday. I... More »
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 »
BOSTON (Reuters) – Miami-area direct lending firm TCA Fund Management Group Corp and its affiliates reached a settlement with U.S. securities regulators over allegations of fraudulent revenue recognition that inflated the value of its private funds, according ... More »
FRANKFURT/DUESSELDORF, Germany (Reuters) – German conglomerate Thyssenkrupp (TKAG.DE) on Tuesday warned its operating loss could swell to 1 billion euros ($1.1 billion) in the current quarter citing the coronavirus pandemic. The group, whose operations range f... More »
NEW YORK (Reuters) – Bitcoin slid on Monday in volatile trading, after it went through a technical adjustment that reduced the rate at which new coins are created, but the outlook remained upbeat as the increase in supply slows down. Monday’s “halving” cuts th... More »
LONDON (Reuters) – Hydrogen has long been touted as a clean alternative to fossil fuels. Now, as major economies prepare green investments to kickstart growth, advocates spy a golden chance to drag the niche energy into the mainstream of a post-pandemic world.... More »
(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 »
(Reuters) – J. Crew Group Inc filed for bankruptcy protection on Monday with a plan to hand over control to lenders, adding to a list of brick-and-mortar retailers pushed to the brink by widespread store closures in response to the COVID-19 pandemic. The New Y... More »
LONDON (Reuters) – Like the myriad approaches governments are taking to tackle the coronavirus crisis, the way the world’s top banks are calculating their potential losses also differs widely, with puzzling outcomes for investors. These discrepancies are roote... More »
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 »
(Reuters) – The Silicon Valley venture capital firm known for its early backing of companies such as Uber Technologies Inc is raising a new fund, but without one of its most prominent general partners, a source close to the firm said on Wednesday. Benchmark is... More »
(Reuters) – The United States Oil Fund LP, the largest oil-focused exchange-traded product (ETP) in the country, is moving to spread out its investments in oil futures in response to extreme market turbulence, it said in a filing on Wednesday. USO said it may ... More »
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 »
(Reuters) – Investors sent record inflows to high-yield corporate bonds and broke a six-week losing streak for investment-grade debt in the week that ended Wednesday as market volatility from the coronavirus crisis began to subside, according to Lipper data re... More »
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 »
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 »
WASHINGTON (Reuters) – The head of the examination office at the U.S. Securities and Exchange Commission (SEC) on Tuesday published details about the expected scope and content for compliance with a new rule requiring broker-dealers and investment advisers to ... More »
DUBAI (Reuters) – United Arab Emirates agriculture technology start-up Pure Harvest Smart Farms has raised $20.6 million in fresh funding and secured commitments for a further $100 million, it said on Monday. Wafra International, an investment firm owned by th... More »
(Reuters) – Private equity firm Silver Lake Partners is preparing to seek at least $16 billion from investors for its sixth flagship buyout fund, braving the economic uncertainty of the coronavirus outbreak, according to people familiar with the matter. Invest... More »
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 »
NEW YORK (Reuters) – Global currency fund managers racked up gains in the first quarter as they benefited from the extreme volatility that the coronavirus pandemic has stoked across financial markets. The BarclayHedge currency traders index was up 6.13% for th... More »
MUNICH/LONDON (Reuters) – Shares in Europe’s insurers fell sharply on Friday after the EU regulator said they should temporarily halt payouts to shareholders during the coronavirus epidemic, although Germany backed Allianz’s decision to go ahead with a dividen... More »
WASHINGTON (Reuters) – The financial industry wants the U.S. Securities and Exchange Commission to hold off on parts of a new rule requiring brokers to disclose potential conflicts of interest, citing disruptions caused by the coronavirus, four people with kno... More »
NEW YORK (Reuters) – U.S. pension funds that delayed rebalancing their portfolios are likely to pump about $400 billion into stocks over the next two quarters, analysts at JP Morgan said, providing a potential boost to equity markets battered by the coronaviru... More »
(Reuters) – Bond investor and DoubleLine Capital Chief Executive Jeffrey Gundlach said on Tuesday he believes the coronavirus sell-off is not over yet and that the lows stocks hit in March will be surpassed in April due to uncertainty over the outbreak. “I thi... More »
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 »
BOSTON (Reuters) – Billionaire trader Steven A. Cohen is cautioning the staff of his investment firm, Point72 Asset Management, to remain cautious amid markets that have recovered slightly from coronavirus-driven lows. “Markets don’t come back in a straight li... More »
ZURICH (Reuters) – UBS Group (UBSG.S) intends to pay its 2019 dividend, the Swiss bank said on Monday, despite guidance from markets supervisor FINMA, the Swiss government and international banking groups to limit payouts as the coronavirus outbreak hits the g... More »
BOSTON/WASHINGTON (Reuters) – The Federal Reserve has offered more than $3 trillion in loans and asset purchases in recent weeks to stop the U.S. financial system from seizing up, but it has not yet directly helped large swaths of the real economy: companies, ... More »
CHICAGO (Reuters) – The $2 trillion economic stimulus package racing toward passage in the U.S. Congress contains several important relief provisions for retirees, and for younger workers saving for retirement. Most of these provisions do a good job targeting ... More »
BOSTON (Reuters) – A New Jersey municipal money-market fund run by BNY Mellon Corp needed an injection of $89,000 after the market value of the fund came under pressure, the bank disclosed on Tuesday in a U.S. regulatory filing. BNY Mellon said it provided cap... More »
LONDON (Reuters) – The Bank of England canceled this year’s stress test of major banks on Friday and said it may be hard to implement new global capital rules on time given the focus now on supporting lending to customers hit by the coronavirus epidemic. The d... More »
(Reuters) – Activist investor Starboard Value is pressuring eBay for the second time in two years and said on Thursday that it plans to install four directors on the e-commerce company’s 14-member board. The hedge fund, which last year helped fill one board se... More »
BOSTON (Reuters) – Billionaire investor William Ackman, who has long worried about risks posed by the coronavirus, called on the Trump administration on Wednesday to seal off the country for 30 days and said stocks would “soar” if such restrictions were impose... More »
CHICAGO (Reuters) – The breathtaking coronavirus-induced plunge of the stock market has unnerved retirement investors of all ages, but it poses special risks for people close to, or already retired. Unlike younger workers with many years ahead of earning and s... More »
NEW YORK (Reuters) – A tiny mutual fund that invests in companies that produce products and services for parents is the only fund among the $4.3 trillion actively managed U.S. equity fund industry to post a positive return for the year to date through Monday, ... More »
LONDON (Reuters) – A rush to sell global bonds in the past week has now rippled into the world of exchange-traded funds with some of the most actively traded seeing the most bulging gaps relative to the value of underlying holdings in years. Exchange-traded fu... More »
NEW YORK (Reuters) – Boaz Weinstein’s main Saba Capital Management LP hedge fund reported a 33% gain in March through Friday amid coronavirus-led market turmoil, bringing its year to date gain to 67%, according to a note sent to clients seen by Reuters. Saba’s... More »
NEW YORK/BOSTON/LONDON (Reuters) – Bridgewater Associates LP, the Ray Dalio-led hedge fund giant famous for making money during the 2008 financial crisis, has posted mixed returns amid the coronavirus-led market turmoil, according to an investor with direct kn... More »
LONDON (Reuters) – Investors pulled out of most asset classes, with stocks and bond funds seeing a combined $36 billion of outflows in the week to Wednesday, BofA said, amid fears of economic damage from the coronavirus epidemic. Stock markets have been sellin... More »
NEW YORK (Reuters) – Uncertainty over the economic impact of the coronavirus outbreak has prompted at least some winners of the U.S. Lipper Fund Awards to look for companies that can withstand a prolonged pullback. U.S. stocks are down sharply from the record ... More »
NEW YORK (Reuters) – Blackstone Group Inc and Apax Partners LLP are among the buyout firms that have had to delay their annual meetings with their private equity fund investors or carry them out remotely because of travel restrictions imposed amid the global o... More »
NEW YORK (Reuters) – The hit to U.S. corporate earnings from the coronavirus epidemic is getting harder and messier to predict. Wall Street strategists have been slashing forecasts as the impact from the virus is set to be felt far further than the first quart... More »
(Reuters) – Hedge fund Elliott Management Corp has amassed a stake in Twitter Inc (TWTR.N) and is pushing for changes, including removal of the social media company’s chief executive, Jack Dorsey, two people familiar with the matter said on Friday. Twitter is ... More »
NEW YORK (Reuters) – Activist investor Clifton S. Robbins told clients on Friday that he is shuttering his Blue Harbour Group not because investors want their money back or because returns have lagged, but because he wants to do something different. “Our inves... More »
NEW YORK (Reuters) – This week’s stock market plunge on coronavirus worries has given hedge fund managers a rare opportunity to brag that they are performing better than traditional stock market funds during a time of market stress. Analyst reports on Friday s... More »
OSLO (Reuters) – Eight candidates have applied to head Norway’s sovereign wealth fund, the country’s central bank said on Tuesday, as its board prepares to decide who should steer the global portfolio of assets worth $1.1 trillion through a time of transition.... More »
NEW YORK (Reuters) – Some asset prices are moving together in unusual ways, an indication that investors may be preparing their portfolios for a coronavirus-led global slowdown. U.S. stocks, gold, Treasuries and the dollar have all surged in 2020, a climb that... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) on Saturday posted a 23% decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc (AAPL.O) enabled the conglomerate to smash its old record for full-year earni... More »
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. In his an... More »
BOSTON (Reuters) – Hedge fund Senator Investment Group told clients on Thursday that its founding partners are splitting up, ending one of the industry’s more profitable and durable professional marriages. Alexander Klabin will be leaving the $6.9 billion Sena... More »
(Reuters) – U.S. equity funds saw outflows of $2.6 billion in the latest week, according to Lipper. U.S.-based taxable bond funds attracted $7.9 billion in the week ended on Wednesday, the seventh straight weekly inflow, and money market funds gained $6.3 bill... More »
NEW YORK (Reuters) – When clients tell financial adviser Catherine Valega that they want to invest their money in women, they are not always clear what they mean. To be honest, there is no real answer yet. If you have less than $1 million, investing with a gen... More »
(Reuters) – NMC Health (NMC.L) said on Monday its founder BR Shetty had resigned as joint non-executive chairman, months after the UAE healthcare group was thrown into turmoil by doubts over its finances. NMC is the largest private healthcare company in the Un... More »
BOSTON (Reuters) – T. Rowe Price Group Inc said on Thursday it would ratchet up the risk in its target-date retirement portfolios, boosting stock allocations to as much as 98% for younger investors. Target-date funds are popular in 401(k) plans because they do... More »
NEW YORK (Reuters) – When former investment manager Ron Cordes started a charitable foundation in 2007, he got frustrated because he could only “do good” when he was actively giving the money away to needy causes. Then Cordes discovered impact investing. “We b... More »
NEW YORK (Reuters) – The U.S. securities regulator is on a collision course with powerful hedge funds executives, including former White House advisor Carl Icahn and Republican mega-donor Paul Singer, over a proposal they say could reduce shareholder voting ri... More »
LONDON (Reuters) – Credit card firms must review how they treat customers that have been in persistent debt to help them save up to 1.3 billion pounds a year in lower interest charges, Britain’s Financial Conduct Authority said on Monday. New rules came into f... More »
(Reuters) – Softbank (9984.T)-backed office sharing firm WeWork named real estate industry veteran Sandeep Mathrani as its new chief executive on Saturday. Mathrani will join the company as the CEO from Feb. 18, 2020 and will report to Marcelo Claure, who will... More »
BOSTON (Reuters) – New York state’s top pension fund official said it was reviewing whether to divest from 27 coal companies and could make decisions on $98 million in holdings within two months. The reviews by the third-largest U.S. state pension system, with... More »
LONDON (Reuters) – Sovereign wealth funds’ investment moves are becoming more closely aligned with the global asset management industry as they mature, and their growing size makes it harder for them to make contrarian bets, a report showed. But the move to mo... More »
BOSTON (Reuters) – Oil drilling firm Valaris PLC reached a settlement with Luminus Management and said on Monday that it has appointed one of the hedge fund’s partners to its board. Luminus’ Adam Weitzman, an expert in offshore oil drilling who has experience ... More »
SHANGHAI/BEIJING (Reuters) – Big businesses across China are temporarily shutting stores or advising staff to work from home, to guard against the spread of a flu-like virus as the tally of deaths rose to 80, with more than 2,700 people infected. Companies are... More »
