Swiss specialty chemicals maker Clariant and Huntsman have agreed to abandon their proposed $20 billion merger, bowing to a growing number of shareholders who had joined activist investor White Tale to oppose the deal. More »
GlaxoSmithKline's gene therapy for the so-called "bubble boy" disease was approved by Britain's healthcare cost watchdog NICE, despite a price tag of almost 600,000 euros ($700,000). More »
European shares were flat on Monday with banks weighing and Madrid's bourse lagging its peers as Catalonia's political crisis deepened. More »
Struggling commodities trader Noble Group agreed to sell its Americas-focused oil trading business to Vitol for about $580 million as part of a debt-cutting strategy, and warned of a big loss for its third quarter. More »
The boom in emerging market technology stocks is becoming a problem for fund managers of all stripes. More »
Asian currencies, on an upswing since the start of the year, are unlikely to trade higher than they are now in a year, held back as the U.S. Federal Reserve presses on with further interest rate rises, a Reuters poll found. More »
European shares hovered around three-month highs on Tuesday as a sell-off in Spanish stocks eased and financials gained following another record-breaking session on Wall Street. More »
A nearly 900-year-old porcelain Song dynasty bowl smashed the world auction record for Chinese ceramics on Tuesday, selling for HK$294.3 million ($37.68 million) at a Sotheby's sale in Hong Kong. More »
An affiliate of Amazon.com Inc has agreed to buy a 1.79 billion-rupee ($27.6 million) stake in Indian retailer Shoppers Stop Ltd, the Indian company said in a filing. More »
Nigeria's economy grew out of recession in the second quarter of 2017, expanding 0.55 percent year-on-year, the statistics office said on Tuesday. More »
European shares crept higher on Tuesday, brushing off geopolitical tension as attention turned to deal-making after Aveva's tie-up with Schneider Electric. Financials and health stocks underpinned broader gains. More »
Stockpickers are jumping into the boom in passive investing by loading up on shares of index-provider MSCI Inc, whose products are the basis for dozens of popular exchange traded funds. More »
Western Digital Corp's (WDC.O) chief executive is in Tokyo to finalize an agreement to buy Toshiba Corp's (6502.T) memory chip business, ending months of dispute over the auction, a person familiar with the matter told Reuters on Monday. More »
Investors have been piling into currency-hedged equity tracker funds, seeking protection against big moves in foreign exchange rates. More »
Spotify said on Thursday it has renewed its global licensing partnership with a third major label, Warner Music Inc, the last big music royalty deal it needs before pushing ahead with a U.S. stock market listing. More »
Bankrupt Texas utility Energy Future Holdings will abandon a deal to sell power transmission company Oncor to Warren Buffett's Berkshire Hathaway Inc (BRKa.N) for $9 billion and will accept a $9.45 billion bid for Oncor by Sempra Energy (SRE.N) instead, people... More »
Goldman Sachs (GS.N) received approval on Sunday to trade equities in Saudi Arabia, joining the growing band of western investment banks and fund managers expanding in the kingdom. More »
LaSalle Investment Management Inc has set a new capital-raising target of $1 billion for the fifth of its pan-Asia opportunistic real estate funds, one of which is expected to significantly outperform a target annual return of 18 percent, the unit of Jones Lan... More »
Former Millennium Capital Partners and Brevan Howard Asset Management trader Arnaud Langlois is preparing to launch equities hedge fund Terreneuve Capital, two sources familiar with the matter told Reuters. More »
The front of the New York Stock Exchange (NYSE) with a Snap Inc. logo hung on the front of it stands shortly before the company’s IPO in New York, U.S., March 2, 2017. The S&P 500 .SPX will start excluding companies that issue multiple classes of shares, manag... More »
FILE PHOTO – A one Euro coin is seen in this picture illustration taken in Rome, Italy July 9, 2015. The European Commission recommended on Wednesday the end of disciplinary procedures against Greece over its excessive deficit after improvements in its fiscal ... More »
FILE PHOTO: Headphones are seen in front of a logo of online music streaming service Spotify, February 18, 2014 Spotify has reached a licensing deal with a second major label, Sony Music Entertainment, according to media reports, setting the stage for a U.S. s... More »
Indonesia’s Finance Minister Sri Mulyani Indrawati speaks during the International Tax Conference in Jakarta, Indonesia, July 12, 2017. Indonesia will sharply lift its tax collection and work with other nations to develop new rules to tackle the “aggressive” t... More »
FILE PHOTO: Sunac China Holdings Ltd logo is seen during a exhibition in Hangzhou, Zhejiang province, China, May 25, 2015. Picture taken May 25, 2015. China Daily/via REUTERS/File Photo Dalian Wanda Group said it would sell Chinese tourism projects and hotels ... More »
FILE PHOTO: Containers from China Ocean Shipping Company (COSCO) are pictured at a port in Shanghai, China, February 17, 2016. REUTERS/Aly Song/File Photo COSCO Shipping Holdings Co Ltd (601919.SS) has offered to buy Orient Overseas International Ltd (OOIL) (0... More »
Israel is looking for firms to manage four high-tech investment funds that will be traded on the stock exchange and given state protection for any losses, the government said on Sunday. More »
Dallas-based Highland Capital Management LP is set to buy and expand an Argentina-focused hedge fund previously managed by Argentine fund firm MBA Asset Management, according to a person familiar with the situation. More »
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, NY, U.S. May 18, 2017. REUTERS/Brendan McDermid U.S. investors took $4.38 billion out of mutual funds and exchange-traded funds that focus on domestic equities in the week that e... More »
Fred Hu, Chairman of Primavera Capital Group, poses for a photo ahead of a Reuters interview in Beijing, China, January 10, 2017. Picture taken on January 10, 2017. REUTERS/Jason Lee Primavera Capital Group, one of China’s largest private-equity firms, is payi... More »
FILE PHOTO: San Francisco Federal Reserve President John Williams speaks to Reuters in San Francisco, California, U.S. on September 27, 2016. REUTERS/Stephen Lam/File Photo With the U.S. economy at full employment and inflation set to hit the Federal Reserve’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 The U.S. Treasury yield curve flattening could become a concern for economic growth when tw... More »
The MSCI logo is seen in this June 20, 2017 illustration photo. REUTERS/Thomas White/Illustration MSCI’s decision to add Chinese shares to a key benchmark is a major milestone, but investors say it will be a long and rocky road ahead before the might of the wo... More »
FILE PHOTO: A man shelters under an umbrella as he walks past the London Stock Exchange in London, Britain August 24, 2015. REUTERS/Suzanne Plunkett/File Photo Recovering technology stocks gave European shares another leg up on Wednesday, while deal chatter se... More »
Several large investment firms are betting on U.S. energy bonds on the view that they have more room to run even after a sharp rebound in performance in 2016. More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo Advisors (WFC.N) will start offering a new share class of mutual funds next month as part of its plan to comply with the new U.S. Labor Department regulatio... More »
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith Wells Fargo Advisors (WFC.N) will launch a new share class of mutual funds next month as part of its plan to comply with the new U.S. Labor Department regulation that s... More »
Mastheads of The Age, The Sydney Morning Herald and the Australian Financial Review, all Fairfax Media publications, are pictured in this photo-illustration in Sydney June 18, 2012. REUTERS/Daniel Munoz U.S. buyout firm TPG Capital Management on Monday raised ... More »
FILE PHOTO: A cashier displays the new 2000 Indian rupee banknotes inside a bank in Jammu, November 15, 2016. REUTERS/Mukesh Gupta/File photo India’s inflation likely cooled in April due to lower food prices, but the pullback may not give the Reserve Bank of I... More »
The Hong Kong-listed shares of AAC Technologies, an acoustic component supplier for Apple Inc, plunged as much as 14 percent on Thursday, after research firm Gotham City accused it of “dubious accounting” practices. More »
A Jimmy Choo shoe is seen in a shop in downtown Rome, Italy March 1, 2016. REUTERS/Max Rossi British luxury retailer Jimmy Choo (CHOO.L) is seeking offers for the company as part of a review of its strategic options to maximize shareholder value, it said on Mo... More »
Commuters walk past the New York Stock Exchange, where a vote today to merge with all-electronic Archipelago Exchange is expected in New York, December 6, 2005. If approved by current seat owners of the NYSE and ArcaEx shareholders, the deal would expand the o... More »
Investors look at an electronic board showing stock information on the first trading day after the New Year holiday at a brokerage house in Shanghai, China, January 3, 2017. REUTERS/Aly Song China’s stock investors are chasing up the country’s version of the “... More »
A web page featuring Amazon’s Australian URL is pictured in this photo illustration in a Sydney office, Australia, April 20, 2017. REUTERS/Jason Reed/Illustration Photo Global e-commerce juggernaut Amazon.com Inc on Thursday said it will open its online shopfr... More »
FILE PHOTO: A computer keyboard lit by a displayed cyber code is seen in this illustration picture taken on March 1, 2017. REUTERS/Kacper Pempel/Illustration/File Photo Cyber security breaches erode companies’ share prices permanently, with financials the wors... More »
FILE PHOTO: United Launch Alliance launches an Atlas V rocket with an United States Air Force OTV-4 onboard from Cape Canaveral Air Force Station, Florida, May 20, 2015. REUTERS/Michael Brown United Launch Alliance has dropped the price of its workhorse Atlas ... More »
File photo: 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 There is no risk of a high-yield junk bond “meltdown” because the risk of a rec... More »
A Bitcoin (virtual currency) paper wallet with QR codes and a coin are seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, May 27, 2015. REUTERS/Benoit Tessier/File Photo The U.S. Securities and Exchange Commission on Tuesday denied... More »
Indian online retailer Snapdeal is seeking investment to shore up its finances after unsuccessful talks with Chinese funds and Alibaba Group Holding Ltd (BABA.N) as it battles to remain competitive, sources with direct knowledge of the matter said. More »
Indian e-commerce marketplace Snapdeal on Wednesday firmly denied that it was in talks to sell the firm, after Mint newspaper reported the company was in talks with domestic rivals for a potential sale. More »
FILE PHOTO – William Ackman (L), chief executive of Pershing Square Capital, speaks with David Weinreb, CEO of Howard Hughes Corp. on the floor of the New York Stock Exchangein New York, U.S. on November 10, 2015. REUTERS/Brendan McDermid/File Photo Bayliss More »
FILE PHOTO: Visitors walk towards the Sleeping Beauty Castle during a visit to the Disneyland Paris, France, January 21, 2015. REUTERS/Gonzalo Fuentes/File Photo – RTX30GBA An activist hedge fund has criticized plans by Walt Disney (DIS.N) to take full control... More »
The logo of the Monetary Authority of Singapore (MAS) is pictured at its building in Singapore in this February 21, 2013 file photo. REUTERS/Edgar Su/File Photo The Monetary Authority of Singapore (MAS) issued a 10-year prohibition order on Monday against Tim ... More »
FILE PHOTO – A Bitcoin sign is seen in a window in Toronto, May 8, 2014. REUTERS/Mark Blinch/File Photo Dreyfuss More »
A sign for the Securities and Exchange Commission (SEC) is pictured in the foyer of the Fort Worth Regional Office in Fort Worth, Texas June 28, 2012. REUTERS/Mike Stone U.S. regulators are advancing rules this week to tighten standards on the ballooning excha... More »
A Pacific Investment Management Co (PIMCO) sign is shown in Newport Beach, California August 4, 2015. REUTERS/Mike Blake Pacific Investment Management Co (Pimco) is replacing the full slate of managers on its Total Return Active Exchange-Traded Fund (BOND.P) a... More »
Berlin’s SoundCloud CEO Alexander Ljung attends the LeWeb technology conference December 4, 2012 in Aubervilliers, near Paris. REUTERS/Philippe Wojazer Music-streaming service SoundCloud launched a budget subscription package on Tuesday, hoping to convert more... More »
A woman walks past the London Stock Exchange building in the City of London, Britain, January 16 , 2017. REUTERS/Toby Melville London Stock Exchange (LSE.L) said its proposed merger with Deutsche Boerse AG (DB1Gn.DE) was unlikely to be approved by the European... More »
Nochi Dankner (L), once one of Israel’s most powerful businessmen, attends a sentencing hearing at the Tel Aviv District court, Israel December 5, 2016. REUTERS/Shlomi Yosef/Pool Nochi Dankner, once one of Israel’s most powerful businessmen who lost his busine... 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 »
Turkey’s Finance Minister Naci Agbal is pictured during an interview with Reuters in Ankara, Turkey, September 27, 2016. REUTERS/Umit Bektas Foreign banks and sovereign wealth funds are interested in working with Turkey’s newly formed wealth fund, which is lik... More »
FILE PHOTO: A U.S. $100 banknote is placed next to 100 yuan banknotes in this picture illustration taken in Beijing, China, October 16, 2010. REUTERS/Petar Kujundzic/File Photo China’s currency is expected to fall to a near decade-low in the year ahead, accord... More »
FILE PHOTO: Gold granules at the Austrian Gold and Silver Separating Plant ‘Oegussa’ in Vienna April 16, 2013. REUTERS/Heinz-Peter Bader/File Photo Fears of inflexibility and rising costs are sapping enthusiasm for the London Metal Exchange’s new suite of gold... More »
A view of the Goldman Sachs stall on the floor of the New York Stock Exchange July 16, 2013. REUTERS/Brendan McDermid/File Photo Goldman Sachs has rejected allegations by an Indonesian businessman who is seeking $1.1 billion in damages from the U.S. bank for m... More »
The Luxottica name is reflected in a pair of sunglasses in this photo illustration taken in Rome February 4, 2016. REUTERS/Alessandro Bianchi/Illustration/File Photo Gupta and Valentina Za More »
People walk out of the Bombay Stock Exchange (BSE) building in Mumbai, India, June 29, 2015. REUTERS/Danish Siddiqui/Files Indian stock exchange BSE Ltd’s initial public offering (IPO) of shares next week may raise as much as 12.43 billion rupees ($182 million... More »
A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton Stock exchange operator Nasdaq (NDAQ.O) will replace Denmark’s main C20 CAP index with a new index of 25 companies to ... 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 »
Euro coins are seen in front of a displayed Greece flag in this picture illustration, June 29, 2015. REUTERS/Dado Ruvic/File Photo Euro zone finance ministers hope to reach a compromise on Greek reforms on Monday in a final bid to get International Monetary Fu... More »
The German share prize index (DAX) board is seen at the trading room of Frankfurt’s stock exchange (Boerse Frankfurt) during trading session in Frankfurt Germany, October 14, 2016. REUTERS/Kai Pfaffenbach European shares were expected to open lower on Monday a... More »
A two Euro coin is pictured next to an English ten Pound note in an illustration taken March 16, 2016. REUTERS/Phil Noble/Illustration/File Photo Euro zone governments are increasingly relying on hedge funds to help them meet their borrowing needs, which risks... More »
The Symantec booth is seen during the 2016 Black Hat cyber-security conference in Las Vegas, Nevada, U.S. August 3, 2016. REUTERS/David Becker/File Photo Symantec Corp (SYMC.O) said it would acquire U.S. identity theft protection services company LifeLock Inc ... More »
Happy Birthday Mr. President Marilyn Monroe Dress is pictured in this photo provided by Julien’s Auctions. Julien’s Auctions/Handout via REUTERS The skin-tight dress Marilyn Monroe wore for her sultry rendition of “Happy Birthday” before then U.S. President Jo... More »
A street vendor displays Greek national flags for sale in front of the Bank of Greece headquarters during a student parade marking the ”Ohi” (No) day, the country’s rejection on Italy’s ultimatum to surrender as the World War II flared up, in Athens, Greece, O... 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 »
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 »
A Wells Fargo Bank is shown in Charlotte, North Carolina, U.S., September 26, 2016. REUTERS/Mike Blake – RTSPJOV The state of Ohio on Friday joined a growing list of municipalities to suspend business relationships with Wells Fargo & Co over a scandal involvin... 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 »
Investors who own some bank sector funds may be in for an unwanted surprise: a tax bill. More »
By Trevor Hunnicutt More »
SYDNEY Australia on Thursday unveiled plans for the largest renovations to the Sydney Opera House since its opening in 1973, with more than A$200 million ($154 million) earmarked to update the UNESCO world heritage-listed site. It draws more than 8 million vis... More »
JAKARTA The Indonesian government will start the implementation of its tax amnesty program on Monday, more than two weeks after parliament passed the law in an effort to bring home funds stashed abroad, a tax official said. The country’s finance minister will ... More »
LONDON/BERLIN German Chancellor Angela Merkel sought on Saturday to temper pressure from Paris, Brussels and her own government to force Britain into negotiating a quick divorce from the EU, despite warnings that hesitation will let populism take hold. Eurosce... 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 »
NEW YORK Dan Loeb’s hedge fund Third Point LLC bought more than a half a million Class A share position of Google parent Alphabet Inc, according to a Securities and Exchange Commission filing late Friday. Third Point took a new stake of 700,000 Alphabet shares... 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 »
Bank of America will provide research coverage on all of its mutual fund offerings, a move that will require it to get rid of some underperforming and unpopular funds, a company spokesman said on Friday. Bank of America offers over 3,500 mutual funds to its Me... More »
(This version of the April 4th story fixes spelling of analyst name in 13th paragraph) By Joshua Franklin ZURICH On Jan. 19, Credit Suisse (CSGN.S) Chief Executive Tidjane Thiam contacted the head of the Swiss bank’s markets business asking for more details ab... More »
LONDON Dozens of journalists at oil-price reporting agency Argus Media are set to become multi-millionaires when a deal to bring an investor onboard goes through later this year, potentially valuing the firm at as much as $1.3 billion. Argus, which makes the b... More »
SHANGHAI/SINGAPORE China’s mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country’s mammoth resource sector will drive up prices for raw materials. The fun... More »
SINGAPORE/HONG KONG Yum Brands Inc (YUM.N), owner of KFC and Pizza Hut, is in talks with private equity firms including KKR & Co LP (KKR.N) and Hopu Investments to sell a minority stake in its China operations as it prepares to spin off the once booming unit, ... More »
NEW YORK iHeartMedia Inc, the largest owner of U.S. radio stations, on Wednesday secured a temporary restraining order from a state court in Texas rescinding notices of default it received from a small number of its senior creditors. The San Antonio, Texas-bas... More »
iHeartMedia Inc has hired Moelis & Co as a financial adviser, the most significant step yet by the largest owner of U.S. radio stations to deal with its $21 billion debt pile, according to people familiar with the matter. The move comes as iHeartMedia, one of ... More »
NEW YORK/LONDON Thomson Reuters Corp is open to selling its intellectual property and science business in two or three parts to facilitate a divesture that could raise more than $3 billion, according to people familiar with the matter. The news and data provid... More »
The Financial Industry Regulatory Authority’s board of governors has approved a plan that would require brokerage firms to disclose how much they mark up the price of most bonds they sell to retail customers, the Wall Street watchdog said on Friday. FINRA’s co... More »
NEW YORK A new type of investment fund starts trading on Wall Street on Friday amid hope from backers that it could become big enough to supplant traditional mutual funds. The Eaton Vance Stock NextShares is the first so-called actively managed nontransparent ... More »
SINGAPORE Goldman Sachs’ (GS.N) senior investment banker and chairman of its Southeast Asia business Tim Leissner has left the bank, a spokesman said. Leissner helped arrange the sale of U.S. dollar bonds for Malaysian state investor 1Malaysia Development Bhd ... More »
