BRASILIA (Reuters) – Brazil’s official interest rates and the average cost of servicing its public debt have never been lower, but investors are becoming worried that the government could face a funding crisis next year. The premium that investors demand to le... More »
(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 »
BOSTON (Reuters) – Investor Fredric Zaino, who spent 15 years at hedge fund Millennium Management, has launched his own firm and plans to invest in micro-, small- and mid-cap public and private companies focusing on biotech, real estate and consumer products. ... More »
LONDON (Reuters) – EU leaders reported some progress on Monday after three days of haggling over a coronavirus stimulus plan, sending the euro to a four-month high and Italy’s borrowing costs to lows not seen since March. An attempt to reach a compromise faile... More »
RIYADH (Reuters) – Saudi Arabia’s 84-year-old ruler, King Salman bin Abdulaziz, has been admitted to hospital in the capital Riyadh, suffering from inflammation of the gall bladder, state news agency SPA said on Monday. The king, who has ruled the world’s larg... More »
LONDON (Reuters) – A growth spurt in the balance sheets of the world’s biggest central banks has crested in recent weeks, drawing warnings from investors that any signs of backpedaling on stimulus will jolt financial markets and strangle economic recovery. The... More »
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 »
TOKYO (Reuters) – U.S. buyout fund Bain Capital said on Thursday it had extended its deadline for a $1 billion buyout offer for Japanese nursing home operator Nichiigakkan Co for a second time. Bain’s bid to buy all of Nichiigakkan’s shares has been extended t... More »
(Reuters) – Ride-sharing company Uber Technologies Inc has agreed on a deal to buy food-delivery app Postmates Inc in a $2.65 billion all-stock agreement, Bloomberg News reported bloom.bg/2Z0TVcd late Sunday, citing people familiar with the matter. The deal ha... 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 »
(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 »
MANILA (Reuters) – The Asian Development Bank [ADB.UL] announced on Monday it was tripling the size of its rescue package to $20 billion to help developing countries in Asia counter the severe macroeconomic and health effects of the coronavirus pandemic. It pr... More »
BRUSSELS (Reuters) – European Union countries on Thursday evening agreed the emergency credit lines from the euro zone’s bailout fund “will be available until COVID-19 crisis is over”, a draft of their deal read. Afterwards, euro countries should remain commit... More »
(Reuters) – Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields. The dividend yield on the S&P 500 now exceeds the yield on the benchmark 10-year U.S. Treasury by its highest margin in nearly f... More »
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 »
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 »
TEL AVIV (Reuters) – Israel’s shekel ILS= slid another 2.5% versus the dollar on Monday to a 15-month low to bring losses to more than 8% so far this month, while share prices continued to tumble in Tel Aviv in the wake of the global coronavirus outbreak. The ... 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 »
(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 »
SHANGHAI/HONG KONG (Reuters) – Investors erased $420 billion from China’s benchmark stock index on Monday, sold the yuan and dumped commodities as fears about the spreading coronavirus and its economic impact drove selling on the first day of trade in China si... 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 »
LONDON (Reuters) – From Harley Davidson to Colgate-Palmolive, U.S. companies are flocking to borrow in euros and their record issuance is breathing life into a market where yields have been hammered by the European Central Bank’s renewed stimulus push. Offshor... More »
WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Wednesday proposed changes to its decades-old definition of a professional investor in order to allow more Americans to buy shares in private companies. The agency hopes the changes will boo... More »
RIYADH (Reuters) – Saudi Aramco’s weighting in Saudi Arabia’s main stock index once the oil giant has listed shares is not expected to breach the maximum limit set by the Gulf kingdom’s Tadawul exchange, a senior executive said on Sunday. “There is a ceiling f... More »
NEW YORK (Reuters) – Most people’s basic knowledge of investing is that their portfolio should be a mix of stocks and bonds. That is usually enough to get by in the stock market – pick up a popular S&P 500 index exchange-traded fund or two and you will probabl... More »
LONDON (Reuters) – Neil Woodford has been ousted as manager of his flagship LF Woodford Equity Income Fund, which will now be wound up to pay back investors trapped in the fund since June. The fund’s administrator, Link Fund Solutions (LFS), said on Tuesday th... More »
NEW YORK (Reuters) – WeWork has opened almost as many new locations in the last 3-1/2 months as it did in the whole first half of this year, likely accelerating the speed with which the office-sharing company is burning through cash as increasingly hard-nosed ... More »
NEW YORK (Reuters) – The Securities and Exchange Commission on Thursday said it would adopt a new rule to modernize how exchange-traded funds (ETFs) are brought to the market and their regulation. The long-awaited Rule 6c-11 – or the ETF rule as it is more com... More »
WASHINGTON (Reuters) – U.S. President Donald Trump said on Sunday the United States was “locked and loaded” for a potential response to the attack on Saudi Arabia’s oil facilities, after a senior U.S. administration official said Iran was to blame. Trump also ... More »
AMSTERDAM (Reuters) – Shares in the spin-off of South African e-commerce group Naspers surged more than 25% in the first minutes of their market debut in Amsterdam on Wednesday. Prosus comprises Naspers’ global empire of consumer internet assets, with the jewe... More »
NEW YORK (Reuters) – Investment firm VanEck and financial technology company SolidX Management LLC will sell shares in their bitcoin trust to “qualified institutional buyers,” the companies said on Tuesday, in a move aimed at further attracting institutional m... More »
MANILA, Sept 1 – (Reuters) – Philippine boxing champion Manny Pacquiao launched his very own cryptocurrency on Sunday at a free concert in Manila, where he serenaded more than 2,000 fans to drum up interest in the product. The 40-year-old boxer, who defeated K... More »
NEW YORK (Reuters) – U.S. money market fund assets fell this week, retreating from their highest level since October 2009, suggesting a pause in investors piling into these low-risk products amid trade and economic worries, a private survey released on Wednesd... More »
BEIJING/HONG KONG (Reuters) – Segway-Ninebot Group, a Beijing-based electric scooter maker, on Friday unveiled a scooter that can return itself to charging stations without a driver, a potential boon for the burgeoning scooter-sharing industry. Ninebot said Ub... More »
LONDON/AMSTERDAM (Reuters) – Amsterdam-based online food delivery firm Takeaway.com (TKWY.AS) has agreed to buy Just Eat (JE.L) in an all-share deal valuing the combined group, which will be one of the sector’s largest, at about 8.2 billion pounds ($10.1 billi... More »
ZURICH (Reuters) – UBS Group (UBSG.S) has created a private capital markets team to help wealth management clients invest in the burgeoning sector, the Swiss bank said on Wednesday. The new team will focus on transactions and investments including last-stage f... More »
NEW YORK (Reuters) – U.S. casino operator Eldorado Resorts Inc has agreed to merge with Caesars Entertainment Corp in a cash and stock deal that values its peer at about $18 billion including debt, people familiar with the matter said on Sunday. The agreement ... More »
SYDNEY (Reuters) – Investors in Australian mortgage bonds are demanding higher premiums to buy the riskiest tranches of new debt, as a slowing economy stokes concerns a property downturn could get worse and increase home loan defaults. High-yield investors are... More »
LONDON (Reuters) – The suspension of Neil Woodford’s flagship fund has put the focus on a little known firm tasked with ensuring his investors were being looked after properly. While Woodford, one of Britain’s highest profile money managers, picked the compani... More »
(Reuters) – Collective Health, which makes software for companies to pay workers’ health costs directly, said on Monday it had raised $205 million in new funding led by SoftBank Group Corp’s Vision Fund. The San Francisco, California-based company said it woul... More »
FRANKFURT (Reuters) – Infineon has agreed to buy Cypress Semiconductors in a deal valuing the U.S. maker of microchips used in cars and electronic devices at 9 billion euros ($10.1 billion), including debt, the German company said on Monday. The cash offer of ... More »
(Reuters) – Hedge fund investor Doug Kass said on Tuesday that he is shorting several investment managers, including T. Rowe Price Group Inc and Franklin Resources Inc, as they could be “the next group to feel disruption” and may be headed for large share pric... More »
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it owned $860.6 million of Amazon.com Inc shares at the end of March, after the billionaire admitted to underestimating the online retailer and its Chief Executive Jeff Bezos. The size of the investment ... More »
NEW YORK (Reuters) – Levi Strauss & Co’s is betting it can convince investors there is still plenty of global growth left for the 165-year old company, but fund managers fret the iconic blue jeans maker’s stock may be too pricey to generate a decent return. Th... More »
NEW YORK (Reuters) – Small-cap stocks were among the biggest losers during the stock market’s rout late last year as investors worried about high leverage, but they have outperformed in 2019’s rebounding market, with shares of debt-laden companies leading the ... More »
SEOUL (Reuters) – State-owned Saudi Aramco plans to invest up to $1.6 billion for a nearly 20 percent stake in South Korean refiner Hyundai Oilbank, expanding its foothold in one of its biggest Asian buyers of crude oil. Saudi Aramco is already the biggest sha... More »
NEW YORK (Reuters) – CVS Health Corp, a top U.S. manager of pharmacy benefits, has added new migraine drugs from Teva Pharmaceutical Industries and Eli Lilly and Co to its list of covered drugs, excluding a rival treatment from Amgen Inc, a CVS spokeswoman tol... More »
JAKARTA (Reuters) – Indonesia is bringing in new rules requiring e-commerce sellers to share data with authorities, while also stressing that they must pay taxes, the finance ministry said on Monday. Surging smartphone use and a rising middle-class income in I... More »
NEW YORK (Reuters) – Amazon.com Inc (AMZN.O) shares seesawed on Thursday as investors questioned how the impending divorce of company founder Jeff Bezos would affect his control of the most valuable company on Wall Street and its ambitious expansion plans. Bez... More »
NEW YORK/WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission on Thursday stood by a decision blocking an exchange-traded fund that would have tracked bitcoin, citing concerns about market manipulation. The securities regulator found “unpersuasiv... More »
TOKYO (Reuters) – Takeda Pharmaceutical Co Ltd on Tuesday said it has received U.S. approval for its $62 billion acquisition of London-listed Shire Plc, taking the Japanese firm one step closer to its goal of becoming a global top 10 drugmaker. Takeda in a pre... More »
(Reuters) – Dell Inc. is nearing a deal to buy out the holders of shares that track the performance of VMWare Inc (VMW.N) using a mix of cash and equity in Dell, people familiar with the matter said on Sunday. The move will mark the culmination of a strategic ... More »
BOSTON (Reuters) – Hedge fund Pagoda Asset Management is shutting down at the end of the month, becoming the latest casualty in the $3.2 trillion industry after a period of sluggish returns, a source with knowledge of the move said on Thursday. New York-based ... More »
HONG KONG (Reuters) – Two Chinese bitcoin mining equipment makers plan to raise up to $1 billion each from Hong Kong listings this year, riding on strong global interest in cryptocurrencies, IFR reported on Tuesday, citing people familiar with the plans. Canaa... More »
HONG KONG (Reuters) – Ping An Healthcare and Technology Co Ltd (1833.HK) shares opened up 4.6 percent on their market debut in Hong Kong on Friday, as investors jostled for a piece of the fast-growing business. The company, that operates China’s largest online... More »
SHANGHAI (Reuters) – Overseas investors are pumping billions of dollars into Chinese stocks and the country’s asset managers are rushing to launch index-tracking funds in a fervent build-up to China’s inclusion in MSCI’s widely tracked equity benchmarks. The r... More »
NEW YORK (Reuters) – Investors’ fears of an all-out trade war between the United States and China is prompting U.S. stock fund managers to hunt for companies that can easily pass on higher costs to their consumers. So far, domestic small-to-mid-cap companies t... More »
SHANGHAI (Reuters) – Chinese funds have slashed valuations of ZTE Corp after the United States banned American companies from selling components to the telecoms equipment maker for seven years, a move ZTE said threatened its very survival. The U.S. action last... More »
BOSTON (Reuters) – BlackRock Inc (BLK.N) on Thursday called on securities regulators to set international standards for shareholder voting rights, suggesting they resolve one of the thorniest debates in corporate governance. The world’s largest asset manager m... More »
LONDON (Reuters) – Gatemore Capital Management has built a stake in Wincanton and called on the British logistics company to break itself up by selling one of its two divisions, according to a letter sent by Gatemore to its own investors. The asset management ... More »
LONDON (Reuters) – Banks, index providers and dealing platforms are trying to distance themselves from a group of Russian companies targeted by the latest U.S Treasury Department sanctions. The measures give U.S. investors until May 7 to divest any stocks, bon... More »
BOSTON (Reuters) – Activist investor Barington Capital Group LP has launched a fight for two board seats at machine industry company Xerium Technologies Inc., according to a regulatory filing made on Thursday. The New York-based hedge fund, which owns 5.05 per... More »
LONDON (Reuters) – Micro Focus shares surged on Thursday, with traders citing a Bloomberg report that hedge fund Elliott Management has taken a stake in the UK software firm. The shares jumped as much as 12 percent to their highest in a month before swinging b... More »
(Reuters) – A fund industry trade group representative on Monday disputed the idea that bond exchange-traded funds (ETFs) might fail to hold up under stress, telling U.S. securities regulators he knows of no convincing evidence to suggest such funds’ liquidity... More »
NEW YORK (Reuters) – The recent widening of the spread between the three-month London interbank offered rate (LIBOR) and three-month overnight index swap rate (OIS) would add a total of $16 billion in borrowing costs for businesses and families, J.P. Morgan an... More »
(Reuters) – Bank of America Corp said on Thursday it will grow its wealth management offering for mainstream investors by opening 600 new Merrill Edge centers and adding 300 new brokers in the next two years. Merrill Edge is a division of the bank that serves ... More »
BENGALURU (Reuters) – U.S. fund managers switched recommended global portfolios slightly more in favor of bonds in March, in part on concerns trade barriers between the world’s two biggest economies may escalate to a broader trade war, a Reuters poll found. Wh... More »
MOSCOW (Reuters) – Russian billionaire Vladimir Potanin’s Interros Holding said it had completed the purchase from businessman Roman Abramovich of a 2 percent stake in Norilsk Nickel, which has been the subject of a legal battle. Abramovich struck a provisiona... More »
LONDON (Reuters) – Investors dumped Italy’s government bonds on Monday and rushed to buy high-grade equivalents such as German Bunds after the weekend Italian election saw a surge in support for anti-establishment parties, led by the 5-Star Movement. Italy fac... More »
FILE PHOTO: Berkshire Hathaway shareholders walk by a video screen at the company’s annual meeting in Omaha, Nebraska, U.S., May 4, 2013. REUTERS/Rick Wilking/File Photo NEW YORK (Reuters) – Billionaire Warren Buffett prodded ordinary investors on Saturday to ... More »
NEW YORK (Reuters) – A company behind U.S.-based funds tied to Wall Street’s “fear gauge” is making changes to its investment strategy after a sudden market plunge this month routed traders betting on the complex instrument. Investors’ once-profitable wagers o... More »
U.S. Dollar banknotes are seen in this photo illustration taken February 12, 2018. REUTERS/Jose Luis Gonzalez/Illustration CHICAGO – Cash is no longer trash. While there is no return to the 5 percent money market yields savers got a decade ago, there is some r... More »
A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. REUTERS/Brian Snyder/File Photo BOSTON/NEW YORK (Reuters) – Fidelity Investments on Friday told clients they could not buy shares in an exchange-traded fund that bets... More »
A trader works on the floor of the New York Stock Exchange in New York, U.S., February 9, 2018. REUTERS/Brendan Mcdermid NEW YORK (Reuters) – Wide swings in the U.S. stock market has blunted initial public offering (IPO) activity on Wall Street in what was set... More »
SYDNEY (Reuters) – When National Australia Bank launched the country’s first ever “green” mortgage bond last week, it kept its expectations for demand in check with price guidance at a similar level to a non-green bond it was also selling. Global interest in s... More »
HONG KONG (Reuters) – China’s Leshi Internet said about 5.62 billion yuan ($890 million) of its debts would be due by the end of this year, or almost two-thirds of the company’s total loans and liabilities, sending its shares down for a ninth day. This is the ... More »
FILE PHOTO: South Korean Finance Minister Kim Dong-yeon speaks during his inaugural ceremony in Sejong government complex in Sejong, South Korea, June 15, 2017. REUTERS/Kim Hong-Ji SEOUL (Reuters) – South Korea’s finance minister said on Monday that the govern... More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., January 26, 2018. REUTERS/Brendan McDermid NEW YORK (Reuters) – A rising U.S. stock market normally reduces fear among investors, but the blistering pace of the current rally ha... More »
FILE PHOTO: The logo of SoftBank Group Corp is displayed at SoftBank World 2017 conference in Tokyo, Japan, July 20, 2017. REUTERS/Issei Kato/File Photo BERLIN (Reuters) – German used-car dealing platform Auto1 said a 460 million euro ($561 million) financial ... More »
FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo (This January 11 story, corrects name of firm in headline, 1st, 2nd, 4th and 10th paragraphs to Alliance Bernstein from ... More »
FILE PHOTO: The BlackRock logo is seen at the BlackRock Japan headquarters in Tokyo, Japan, October 20, 2016. REUTERS/Toru Hanai/File Photo NEW YORK (Reuters) – Electronic trading is becoming increasingly important when it comes to corporate debt as fund manag... More »
The Kodak logo is shown on a booth during the 2017 CES in Las Vegas, Nevada, U.S., January 6, 2017. REUTERS/Steve Marcus SAN FRANCISCO (Reuters) – Shares of Eastman Kodak Co (KODK.N) more than doubled on Tuesday after the one-time leader in photography became ... More »
While U.S. stocks are now in an "accelerating phase," billionaire investor Jeffrey Gundlach is predicting that the S&P 500 will post a negative rate of return in 2018. More »
A Bitcoin logo is seen on a cryptocurrency ATM in Santa Monica, California, U.S., January 4, 2018. REUTERS/Lucy Nicholson NEW YORK (Reuters) – The going is getting tough for U.S. companies hoping to win the race to bring a bitcoin exchange-traded fund to marke... More »
SHANGHAI (Reuters) – China’s central bank said it will skip open market operations on Monday. On a net basis, the People’s Bank of China (PBOC) will drain 120 billion yuan ($18.25 billion) from the money market for the day, as that amount of reverse repos is d... More »
FILE PHOTO: Brokers trade at their computer terminals at a stock brokerage firm in Mumbai, India, February 17, 2016. REUTERS/Shailesh Andrade MUMBAI/HONG KONG (Reuters) – Funds raised in India through share sales reached the most in a decade this year thanks t... More »
LONDON (Reuters) – Hedge funds and other managers of catastrophe bond funds racked up some of the worst losses in more than a decade from this year’s hurricanes and wildfires. But a year that is shaping up to be the costliest on record for insurance losses fro... More »
MILAN (Reuters) – European shares rose on Monday, with merger and acquisition activity in focus and investor sentiment buoyed by expectations that a U.S. tax bill could soon pass. Thales (TCFP.PA) rose 8.4 percent after the French aerospace and defense company... More »
COPENHAGEN/LONDON (Reuters) – Activist hedge fund Primestone Capital on Wednesday urged U.S. cleaning equipment company Tennant and Danish peer Nilfisk to consider merging after building up minority stakes in both firms. “Primestone Capital owns more than 5 pe... More »
NEW YORK (Reuters) – GGP Inc (GGP.N), one of the largest owners and operators of U.S. shopping centers, has rejected a $14.8 billion buyout offer from its biggest shareholder, Brookfield Property Partners LP (BPY.O), people familiar with the matter said on Sun... More »
LONDON (Reuters) – British car dealership Pendragon (PDG.L) is to sell its U.S Motor Group business after concluding a strategic review following a profit warning, it said on Monday. The firm, which warned on profit in October due to a fall in demand for new c... More »
(Reuters) – Mednax Inc, a U.S. healthcare network operator targeted by activist hedge fund Elliott Management Corp, is fielding acquisition interest from several private equity firms, according to people familiar with the matter. Elliott disclosed a 7 percent ... More »
FILE PHOTO: The seal of the U.S. Securities and Exchange Commission hangs on the wall at SEC headquarters in Washington, DC, U.S. on June 24, 2011. REUTERS/Jonathan Ernst/File Photo WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said Thursd... More »
BOSTON (Reuters) – The rush of money into big index funds has raised concerns about whether they would still prove attractive in a downturn, an issue taking on more importance especially for industry leader Vanguard Group Inc as its passive products soar in sc... More »
BARCELONA/LONDON (Reuters) – Vivendi’s Universal Music Group (UMG) could be worth more than $40 billion, Chief Executive Arnaud de Puyfontaine said on Friday, helping to buoy shares in the French media group after third-quarter results in which UMG was a highl... More »
FILE PHOTO: The logo of commodities trader Glencore is pictured in front of the company’s headquarters in Baar, Switzerland, July 18, 2017. REUTERS/Arnd Wiegmann/File Photo LONDON (Reuters) – London hedge fund giant Lansdowne Partners lost $100 million from a ... More »
MSCI Inc will temporarily ban new companies that deny equal voting rights to shareholders from two market indexes, intensifying a debate over who should police perceived lapses in corporate governance. More »
UBS AG (UBSG.S) will pay a $3.5 million civil fine to settle U.S. Securities and Exchange Commission claims that it overcharged customers on mutual funds, the regulator said on Friday. More »
Swiss specialty chemicals maker Clariant and U.S. group Huntsman abandoned their $20 billion merger on Friday, notching a win for activist investors who fought the deal for months on the grounds it would destroy shareholder value. More »
