BOSTON (Reuters) – Rivulet Capital, a large investor in Instructure Inc, on Thursday said it will resist the U.S. educational software company’s plan to sell itself to private equity firm Thoma Bravo for $2 billion, calling the deal too cheap and too hurried. ... More »
BOSTON (Reuters) – As U.S. corporate jet use approaches pre-financial crisis levels and chief executives take an increasing number of personal trips on the company tab, many investors are being kept in the dark about the true cost of the perk. For the S&P 500 ... More »
SINGAPORE (Reuters) – The United States’ economic outperformance will wane, the dollar will probably weaken and growth next year can be expected from emerging markets, UBS Asset Management said on Monday, the latest money manager to turn bullish on the sector.... More »
NEW YORK (Reuters) – U.S. equity stock funds saw $390 million in outflows in the week ended on Wednesday, the fourth straight week of outflows for such funds, according to data released by Lipper on Friday. U.S. taxable bond funds attracted $5.9 billion, the 1... More »
ATHENS (Reuters) – Clothes should be cherished, re-worn and even passed on to the next generation, Anna Wintour, the influential editor of Vogue magazine said, calling for more sustainability in the fashion world and less of a throwaway culture. In an intervie... More »
HONG KONG (Reuters) – The private banking business of HSBC Holdings PLC is aggressively pursuing double-digit growth in client assets and revenue, riffing off a surge in Asian wealth, the unit’s chief executive told Reuters. Antonio Simoes also said the London... More »
(Reuters) – LVMH (LVMH.PA) is close to buying U.S. jewelry chain Tiffany & Co (TIF.N) for about $16.3 billion after sweetening its offer, sources said on Sunday, as the owner of Louis Vuitton and Bulgari aims to tap the fast-growing luxury jewelry market. The ... More »
(Reuters) – U.S. equity funds saw $3.6 billion in outflows in the week ended on Wednesday, according to data released on Thursday by Lipper. U.S. taxable bond funds attracted $12.4 billion, the 15th straight inflow, while U.S. money market funds shed $25.3 bil... More »
NEW YORK (Reuters) – Firefly Value Partners on Thursday asked Gulfport Energy for a seat on its board and criticized the “half-measures” which the U.S. gas exploration and production company is taking to improve its financial performance. On Monday, Oklahoma C... More »
COLORADO SPRINGS, Colo. (Reuters) – Specialized fund managers who pioneered green investing for decades are missing out on some of the spoils as the sector goes mainstream and large firms move in. So-called sustainable funds, which pick stocks based on environ... 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 »
PARIS (Reuters) – Former pop-star Victoria Beckham knew she’d have to win over hard-to-impress fashion critics when she launched her first clothing line a decade ago, but the one-time Spice Girl said the industry was much harder to crack than she had ever imag... More »
(The opinions expressed here are those of the author, a columnist for Reuters.) By Mark Miller CHICAGO (Reuters) – The cost of Medicare is going up next year – way up. Federal officials announced late last week that the standard monthly premium for Medicare Pa... More »
HANGZHOU, China (Reuters) – Chinese retailer Alibaba Group Holding Ltd said on Monday that sales for its annual Singles’ Day shopping blitz crossed the $30 billion mark at 4:31 p.m. (0831 GMT), putting the event on track to set a record in its 11th year. The f... More »
BOSTON (Reuters) – It’s nice work if you can get it. The average annual compensation for non-executive directors at S&P 500 companies rose 2 percent to $304,856 last year, topping $300,000 for the first time and 43 percent higher than it was 10 years ago, acco... More »
ZURICH (Reuters) – The world’s richest people became a little less well off last year, according to a report by UBS (UBSG.S) and PwC, as geopolitical turmoil and volatile equity markets reduced the wealth of billionaires for the first time since 2015. Billiona... More »
NEW YORK (Reuters) – At a time when U.S. utilities face pressure to rely more on renewable energy, a well-known investor in the space said it is equally important to judge companies by their spending on less glamorous areas like power lines and grid reliabilit... More »
WASHINGTON (Reuters) – Democratic presidential candidate Elizabeth Warren’s plan for universal healthcare rests on an assumption she can radically change an industry the size of Germany’s entire economy without new costs for the average taxpayer. On paper, the... More »
(The opinions expressed here are those of the author, a columnist for Reuters.) By Mark Miller CHICAGO (Reuters) – The current record-high level of income inequality in the United States affects all segments of society, but two new reports shed light on how th... More »
(Reuters) – AT&T Inc on Monday unveiled a three-year strategic plan that included selling up to $10 billion worth of businesses next year, paying off all its debt from the purchase of Time Warner and adding two new board members, bowing to pressure from activi... More »
BOSTON (Reuters) – Fisher Investments founder Ken Fisher said there will be no lay-offs at his Washington state investment firm despite some $3 billion in withdrawals by pension funds and others over allegedly sexist remarks he made at an investor conference. ... More »
(Reuters) – Louis Vuitton owner LVMH (LVMH.PA) has approached Tiffany & Co (TIF.N) with a $14.5 billion acquisition offer, people familiar with the matter said, at a time when the U.S. luxury jeweler grapples with the impact of tariffs on its exports to China.... More »
BOSTON (Reuters) – A Texas retirement system and Goldman Sachs Group Inc pulled a combined $584 million from Fisher Investments on Friday, after allegations that firm founder Ken Fisher made sexist comments at a conference. The withdrawals come despite an apol... More »
BOSTON (Reuters) – The Los Angeles fire and police pension system voted to terminate Fisher Investments on Thursday over allegedly sexist comments made by founder Ken Fisher earlier this month. Five of the system’s nine commissioners voted during a webcast mee... More »
(Reuters) – U.S. equity funds shed $3.98 billion in the week ended Wednesday, according to data released by Lipper on Thursday. U.S.-based taxable bond funds attracted $6.3 billion, the eleventh straight weekly inflow, while U.S. money market funds attracted $... More »
BOSTON (Reuters) – Money manager Jeffrey Vinik said on Wednesday he was shutting down his stock-picking hedge fund, citing unexpected difficulties raising cash for the decision to end a much-hyped but short-lived relaunch of his asset management firm. “Simply ... More »
BOSTON (Reuters) – Fallout from Kenneth Fisher’s alleged insensitive remarks about women escalated on Friday when a large Iowa pension plan cut ties with the money manager, whose firm has lost more than $1 billion in assets under management in the last week. T... More »
(Reuters) – A $34 billion Iowa pension plan on Friday said it will terminate an investment contract with Kenneth Fisher, whose alleged insensitive remarks about women has cost his firm more than $1 billion in assets under management. The Iowa Public Employees’... More »
NEW YORK (Reuters) – AT&T (T.N) and Elliott Management are talking about issues the activist hedge fund raised last month when it pushed for change at the U.S. telecommunications and media conglomerate, two people familiar with the matter said on Thursday. Ell... More »
(Reuters) – U.S. equity funds attracted $4 billion in the week ended Wednesday, the first inflow in four weeks, according to data release by Lipper. U.S. based taxable bond funds drew $6.3 billion, the tenth straight weekly inflow, while U.S.-based money marke... More »
BOSTON (Reuters) – Commissioners of a $23 billion Los Angeles fire and police pension fund are ready to drop the firm of money manager Kenneth Fisher, who is under fire for allegedly making insensitive remarks about women. Several members of the Los Angeles Fi... More »
MILAN (Reuters) – Mediobanca’s third-biggest investor Leonardo Del Vecchio called for it to get bigger through acquisition on Friday, stepping up his questioning of the Italian merchant bank’s strategy. The 84-year-old billionaire bought a 7% stake in Medioban... More »
LONDON (Reuters) – UBS Wealth Management said on Friday it still expects the UK government to ask for an extension to the deadline for exiting the European Union and to hold a general election, though it acknowledged that chances of a Brexit deal have increase... More »
BOSTON (Reuters) – Elliott Management, Paul Singer’s $35 billion hedge fund, kept up its blistering pace of pushing for corporate changes during the third quarter, outspending all rivals with campaigns at AT&T and Marathon Petroleum Corp , data released on Fri... More »
(Reuters) – U.S. private equity firm KKR & Co Inc is seeking to raise $1.5 billion for its third special situations fund, people familiar with the matter said on Friday. KKR Special Situations Fund III, which was registered with regulators in June, will acquir... More »
NEW YORK (Reuters) – U.S. tax reform is finally catching up with the college financial aid process, and the synchronization is off to a rocky start. The Free Application for Federal Student Aid (FAFSA) for the 2010-2021 academic year became available on Oct. 1... More »
(Reuters) – U.S. equity funds saw $7.9 billion in outflows in the last week, the second consecutive weekly drawdown, as bond and money market funds drew money, according to data released by Lipper on Thursday. U.S.-based taxable bond funds attracted $641 milli... More »
ZURICH/HONG KONG (Reuters) – The announcement by Julius Baer this week that it had hired five senior bankers from Credit Suisse underscores the challenge facing Chief Executive Tidjane Thiam as he seeks to reassure staff and investors in the wake of a spying s... More »
LONDON (Reuters) – Deutsche Bank said on Wednesday it still sees a 50% chance that Britain will leave the European Union without a deal by the end of the year following a general election, but said there’s a 20% chance of a “surprise” agreement later this mont... More »
ZURICH (Reuters) – Credit Suisse (CSGN.S) cleared its CEO on Tuesday of snooping on a star wealth manager in an episode that saw suicide, scandal and espionage invade the secretive world of Swiss private banking. The spying on ex-wealth management chief Iqbal ... More »
TOKYO (Reuters) – Japanese tennis player Naomi Osaka has laughed off comments by a Japanese comedy duo who said she was “too sunburned” and “needed some bleach”, turning the tables with a plug for Japanese cosmetic giant Shiseido that is one of her sponsors. T... More »
PARIS (Reuters) – French cosmetics maker L’Oreal hosted its annual runway show on Saturday featuring an all-star cast of movie stars, singers and supermodels who embodied self-empowerment on the sidelines of Paris Fashion Week. Celebrities including Britain’s ... More »
(Reuters) – Italy’s Tod’s appointed a former Google executive as chief digital and innovation officer to ramp up its ongoing digital transformation, the shoes and leather goods company said on Friday. Alessandra Domizi, previously the Industry Head – Fashion &... 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 »
CHICAGO (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) Just a few years ago, Democratic politicians were debating whether to accept cuts to Social Security benefits. No more: the only Social Security reform debate w... More »
LONDON (Reuters) – Digital wealth management company Moneyfarm said on Thursday it had raised 36 million pounds ($44.4 million) from Poste Italiane and Allianz Asset Management in its latest funding round. Moneyfarm also said it plans a strategic partnership w... More »
LONDON (Reuters) – South African accountant Shaista Hamdulay never imagined she would one day mingle with fashionistas at London Fashion Week. Yet on Saturday, Hamdulay got a taste of a world usually reserved for fashion editors, buyers, bloggers and celebriti... More »
BOSTON (Reuters) – Billionaire investor Carl Icahn, a born New Yorker who has run his business from the city for decades, is moving his office, more than half of his staff and himself to Florida early next year, people familiar with the plan said on Thursday. ... More »
NEW YORK (Reuters) – Record heatwaves in Europe and Asia this summer are leading fund managers to buy shares of air conditioning manufacturers, betting that the public health risks of rising temperatures will compel businesses and apartment building owners to ... More »
HANGZHOU, China/SEOUL (Reuters) – Apple Inc’s (AAPL.O) new, lower priced iPhone that comes with a faster processor but lacks 5G technology disappointed Asia, where cheaper and feature-packed handsets from rivals are already available. The iPhone 11, launched o... More »
(Reuters) – Australia’s corporate regulator said on Wednesday it has been conducting long-term on-site monitoring at the offices of major banks and wealth manager AMP Ltd (AMP.AX) since October, after a probe into the sector revealed wide-ranging misconduct. T... More »
NEW YORK/PARIS (Reuters) – Luxury brands and retailers are increasingly collaborating with celebrities, including style bloggers and Instagram stars, to help design collections and jazz up their wares. The latest example of this is Rihanna, who is set to stage... More »
NEW YORK (Reuters) – Magic realism is a literary genre in which narrative is shot through with surreal, dreamlike, seemingly impossible moments. If famed author Salman Rushdie is a dean of the genre, perhaps it is not surprising that his life exhibits so many ... More »
ZURICH (Reuters) – Group assets under custody or management at Swiss private bank and asset manager Pictet rose nearly 10% in the first half versus the end of 2018, it said on Monday. Assets advanced to 544 billion Swiss francs ($558.23 billion) as of the end ... More »
BOSTON (Reuters) – Activist hedge fund Jana Partners on Friday disclosed a large new stake in Outback Steakhouse owner Bloomin’ Brands Inc , returning for the second time in nearly two years to push for fresh changes after reaching a settlement in 2018. Jana, ... More »
LONDON (Reuters) – Bank of America Merrill Lynch said on Friday its market sentiment indicator has fallen to a level so bearish it has triggered a “contrarian” buy signal for assets considered more risky, such as equities, for the first time since January. The... More »
ZURICH (Reuters) – Switzerland’s biggest bank UBS on Thursday appointed former Credit Suisse manager Iqbal Khan to co-lead its flagship wealth management business, as part of a broader shake-up of its executive board. The appointment of Khan alongside two inte... More »
NEW YORK (Reuters) – Three names dominate the U.S. world of bond investing – Jeffrey Gundlach, Dan Ivascyn and Scott Minerd. But funds run by these star investors are lagging their respective benchmarks this year. The proximate cause for the underperformance o... More »
ZURICH (Reuters) – Credit Suisse (CSGN.S) said on Monday it would invest hundreds of millions of francs in digital services and other parts of its Swiss division by the end of 2021 and said it no longer needed a bigger branch network in its home market than it... More »
(Reuters) – The bond market is in a “bubble,” particularly sovereign debt, Guggenheim Partners global chief investment officer Scott Minerd warned on Thursday, and he said that efforts by the Federal Reserve to head off a recession by cutting interest rates wi... More »
CHICAGO (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) Medicare experts often advise enrollees to re-shop their plan coverage during the annual fall open enrollment period. This is the time when you can make unlimit... More »
(Reuters) – Canadian property and casualty insurer Intact Financial Corp said on Thursday it agreed to buy The Guarantee Co of North America and Frank Cowan Co for C$1 billion ($750.6 million) in cash from Princeton Holdings Ltd. The deal, expected to close in... More »
NEW YORK (Reuters) – Big companies are increasing incorporating virtual technology and care options into employee benefit plans to combat the rising healthcare costs that long been corporate America’s bugaboo, according to the annual survey of the National Bus... More »
BOSTON (Reuters) – Hedge fund Third Point LLC said on Tuesday that it recently cut its investment in United Technologies Corp (UTX.N), becoming the second activist hedge fund to sell shares after the company announced a merger with Raytheon Co. (RTN.N) that th... More »
(Reuters) – Traders and analysts are considering whether U.S. bond yields would fall below zero as a record amount around the world sank into negative territory this week. The question has become a talking point, and less hypothetical, this week as the U.S. 30... More »
BOSTON (Reuters) – Two new BlackRock Inc funds that exclude gun makers are off to slow starts as socially-minded investors embrace other products addressing a wide range of issues like environmental and governance concerns, according to flow data at the world’... More »
(Reuters) – U.S.-based high-yield junk bond funds posted more than $4 billion of outflows in the week ended Wednesday, the largest weekly cash withdrawals since October 2018, according to Refinitiv’s Lipper data, triggered by an escalating trade war between Ch... More »
NEW YORK (Reuters) – The amount of bonds carrying negative yields increased to an all-time peak of $13.2 trillion on Wednesday, up $1.6 trillion or 13.4% from a month earlier in the wake of a dramatic rally in bond markets around the world, J.P. Morgan said on... More »
NEW YORK (Reuters) – Last week’s announcement of more U.S. tariffs on Chinese goods may have undermined the prospects for small-cap stocks to rebound this year, even after a brief respite from the Federal Reserve’s recent interest-rate cut. Just a day after th... More »
BOSTON (Reuters) – Fidelity Investments’ money-market fund assets have climbed $116 billion, or 20%, over the past 12 months as investors embrace higher yields for their idle cash, research firm Crane Data said on Thursday. At the end of July, Boston-based Fid... More »
BOSTON (Reuters) – Hedge fund Hoplite Capital is returning money to outside clients after a period of sluggish returns, the firm’s founder, John Lykouretzos, told investors in a letter on Wednesday. “I have decided to close the Hoplite managed funds and return... More »
(Reuters) – Canada’s largest insurer insurer Manulife Financial Corp on Wednesday edged past estimates for second-quarter profit, helped by strength in Asia unit, its biggest. Insurers in Canada have been increasingly pivoting toward Asia for growth, looking t... More »
LAUSANNE, Switzerland (Reuters) – Switzerland’s supreme court on Friday voted in favor of handing over historical data on over 40,000 UBS clients to French authorities in a landmark ruling. Three of the five judges voted in favor of overthrowing the lower cour... More »
(Reuters) – U.S.-based equity funds posted more than $8.4 billion of cash withdrawals in the week ended Wednesday, following two weeks of inflows, according to Refinitiv’s Lipper. The withdrawals came ahead of next week’s Federal Reserve meeting. In the same w... More »
NEW YORK (Reuters) – Non-residents have pulled about $1.5 billion from Indian equities so far in July, reversing a strong trend of inflows in previous months, data from the Institute of International Finance showed on Wednesday. “Unlike other episodes, which m... More »
NEW YORK (Reuters) – Investors edged into the U.S. stock market last week, as the benchmark S&P 500 index hovered near record highs, by adding $1.1 billion into mutual funds and exchange-traded funds that hold domestic stocks, according to data released Wednes... More »
NEW YORK (Reuters) – Move over Monet. Nike is hot on your heels. Sotheby’s in New York announced on Thursday its first-ever auction dedicated to sneakers, underlining their fast-growing status as collectibles able to command tens of thousands of dollars. Sothe... More »
LONDON (Reuters) – Investors pumped money into bonds and equities in the week to Wednesday with U.S. stock funds adding $1.7 billion, Bank of America Merrill Lynch said on Friday, as markets tried to weigh hopes for major central bank stimulus against economic... More »
(Reuters) – U.S.-based money-market funds attracted about $28 billion in the week ended Wednesday, their largest weekly inflow since mid-May, as the S&P 500 Index rose above 3,000 for the first time on Wednesday. It was money funds’ third consecutive week of c... More »
FRANKFURT/BOSTON (Reuters) – Elliott Management Corp has invested more than rivals in its push for corporate change so far this year and there has been an increasing focus among activist investors on German companies. Elliott, Paul Singer’s $35 billion hedge f... More »
ZURICH (Reuters) – With other parts of its business facing hefty cuts, Deutsche Bank wants to expand its European operations handling the assets of rich clients and take market share from rivals after staunching the outflow of assets. Hiring new client relatio... More »
(Reuters) – Activist research group Anonymous Analytics has turned its attention to the cannabis industry, initiating a buy rating on Turning Point Brands Inc (TPB.N) in a report on Wednesday. The group, which holds shares in Turning Point Brands, called it “a... 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 »
ZURICH (Reuters) – Julius Baer (BAER.S) has appointed Philipp Rickenbacher as its new chief executive officer, the Swiss private bank said on Monday, opting for a company insider to drive the wealth manager’s future growth. His appointment is the latest leader... More »
(Reuters) – Amazon.com Inc (AMZN.O) founder Jeff Bezos’ divorce from his wife of 25 years, MacKenzie Bezos, was finalized by a Seattle-area judge on Friday, paving the way for her to receive $38.3 billion worth of Amazon stock, Bloomberg reported. In April, Am... More »
(This June 28 story corrects Romaco’s nationality to German, not Italian, in paragraph 17) By Silvia Aloisi CITTÀ DI CASTELLO, Italy (Reuters) – Amazon’s new recruit comes from a medieval walled town in central Italy and can box and seal at least 600 items of ... More »
ROME (Reuters) – On a catwalk overlooking the Colosseum, Italian luxury label Fendi paid homage to Karl Lagerfeld late on Thursday with a fashion show of 54 new looks to mark the late designer’s 54-year tenure at the brand. The veteran designer joined Fendi in... More »
NEW YORK (Reuters) – Investors pulled slightly more than $5 billion out of mutual funds and exchange-traded funds that hold U.S. stocks last week, ending what had been the largest rush into domestic stocks since 2016, according to data released Wednesday by th... More »
(Reuters) – Polymer maker Synthomer Plc said on Wednesday it has agreed to buy Omnova Solutions Inc for an enterprise value of $824 million in a bid to strengthen its global position. London-based Synthomer is offering Beachwood, Ohio-headquartered Omnova $10.... More »
NEW YORK (Reuters) – A truce in the trade war between the United States and China that pushed large-cap stocks to new record highs Monday does not appear to be enough to buoy the shares of small U.S. companies that are struggling under the weight of higher tar... More »
NEW YORK (Reuters) – A former executive of collapsed Dubai private equity firm Abraaj Capital Ltd on Friday pleaded guilty to U.S. fraud and conspiracy charges, admitting that he lied to investors about the firm’s financial health and track record. Former Abra... More »
(Reuters) – Investors’ appetite for risk-taking was on display in the latest week, as U.S.-based high-yield junk bond funds attracted more than $3 billion in the week ended Wednesday, their third consecutive week of inflows. At the top of the credit spectrum, ... More »
NEW YORK (Reuters) – Record highs in the U.S. stock market and the anticipation of equity-friendly interest rate cuts by the Federal Reserve later this year are prompting top-performing large-cap fund managers to seek out unloved stocks in hopes of further gai... More »
DUBAI (Reuters) – MSCI Inc said on Tuesday it would upgrade Kuwaiti equities to its main emerging markets index in 2020, a move that could trigger billions of dollars of inflows from passive funds. The index compiler will include the MSCI Kuwait index in the e... More »
NEW YORK (Reuters) – A federal judge in New York rejected Sotheby’s bid to dismiss a $380 million lawsuit where Russian billionaire Dmitry Rybolovlev accused the auction house of helping his longtime art dealer’s scheme to overcharge him on dozens of masterwor... More »
LONDON (Reuters) – Britain’s finance ministry said on Monday it would look at whether the regulation regime around mini-bond investments, used to raise funds for small businesses, is up to scratch following the collapse of investment firm London Capital & Fina... More »
LONDON (Reuters) – After years of using the internet, satellites, algos and other innovations to mine ‘Big Data’ for that edge over rivals, the world’s biggest investment firm is trialing a gizmo that puts the focus back on humans — its own portfolio managers.... More »
NEW YORK (Reuters) – A U.S. judge on Friday rejected Greece’s effort to dismiss an unusual lawsuit in which Sotheby’s and the owners of an ancient Greek bronze horse sued the country, seeking court permission to put the statue on the auction block. U.S. Distri... More »
PARIS (Reuters) – Kim Jones played with time on Friday in his simultaneously classic and dystopian collaboration with Daniel Arsham, filling Christian Dior’s latest menswear collection with tonal, feminine-inspired pieces with a modern edge. The house’s Summer... More »
NEW YORK (Reuters) – A federal judge in Manhattan on Friday threw out the 2013 insider trading guilty plea of a former trader at SAC Capital Advisors LP, the hedge fund once run by billionaire Steven A. Cohen, saying recent changes in the law meant there were ... More »
