(Reuters) – Investment bank Perella Weinberg Partners plans to name Peter Weinberg as its chief executive officer with current CEO Robert Steel set to become the company’s chairman, a person familiar with the matter told Reuters on Thursday. Weinberg founded t... 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 (Reuters) – Prominent investor Jeffrey Vinik is ready to manage money for outside clients again and plans to relaunch his hedge fund firm Vinik Asset Management after sitting out the last six years. Vinik, who once ran Fidelity’s Magellan mutual fund ... More »
BOSTON (Reuters) – Investment firm Tiger Global Management, which oversees $23 billion in assets, told investors its hedge fund gained 13.6 percent last year. Tiger Global’s hedge fund invests some $8 billion in assets and gained 0.9 percent in December. That ... More »
NEW YORK (Reuters) – How U.S. schools calculate financial aid is so confusing that there is an entire industry devoted to unlocking its secrets with books, consultants and websites. Most parents are probably not aware that Stanford University in Palo Alto, Cal... More »
MILAN (Reuters) – European shares rose on Wednesday driven by the export-oriented autos and tech sectors as optimism grew that the United States and China could avoid a full-blown trade war that would further brake a slowing global economy. The pan-European ST... More »
BOSTON (Reuters) – Saba Capital’s Tail Hedge Master Fund, which promises a sort of doomsday insurance through bets that perform well when markets spiral, ended 2018 with a 25 percent gain, a person familiar with the fund’s returns said on Tuesday. For years, B... More »
NEW YORK (Reuters) – Gold-backed exchange-traded funds ended 2018 with new inflows globally as uncertainty about Britain’s exit from the EU drove investors to the perceived safety of European-backed ETFs, more than offsetting outflows in North America resultin... More »
BOSTON (Reuters) – Cruiser Capital Advisors said on Monday it wants to replace four directors at chemical company Ashland Global Holdings, including the board chairman. The New York-based hedge fund aims to remove Ashland Chief Executive Bill Wulfsohn from his... More »
BOSTON (Reuters) – Hedge fund giant Bridgewater Associates’ flagship Pure Alpha Strategy posted a double-digit gain in 2018 when many other funds lost money after being caught off guard by the late-year market collapse. The Pure Alpha Strategy, which has been ... More »
NEW YORK (Reuters) – Investors pulled $98 billion from U.S.-based stock funds in December, a calendar-month record that emphasizes the diminishing goodwill in financial markets, preliminary Lipper estimates showed on Thursday. Fund investors trimmed their risk... More »
BOSTON (Reuters) – Widely followed activist investors Daniel Loeb, Barry Rosenstein and William Ackman suffered heavy losses in December, when fears about trade battles and slower growth sent stocks spiraling lower. Many fund managers are still compiling annua... More »
NEW YORK (Reuters) – The U.S. Internal Revenue Services is closed, thanks to the government shutdown, but your taxes are still due on April 15 and that is why individuals need to proceed through tax season as if nothing is amiss, experts say. The opening day o... More »
LONDON (Reuters) – Apple’s first sales warning in nearly 12 years sent European shares sliding on Thursday, with the tech sector particularly badly bruised as chipmakers that supply the iPhone maker fell sharply. The pan-European STOXX 600 fell 0.9 percent as ... More »
NEW YORK (Reuters) – U.S. fund investors eased into wild stock markets during the latest week, adding $5.2 billion, according to Lipper data on Thursday that reflected the first net positive flows for funds since December’s selloff began. Stock exchange-traded... More »
NEW YORK (Reuters) – U.S. fund investors battered bond markets with the biggest withdrawals in seven weeks and snatched the most cash from foreign stocks since mid-2015 as the Federal Reserve hiked interest rates, Investment Company Institute (ICI) data showed... More »
BOSTON (Reuters) – Hedge fund Latimer Light Capital, which specialized in picking stocks, is closing its doors, becoming the latest casualty in an industry pummeled by the recent stock market sell-off. New York-based Latimer Light told investors it plans to sh... More »
NEW YORK (Reuters) – The U.S. Securities and Exchange Commission said on Friday it had settled charges with automated investment management providers Wealthfront Advisers LLC and Hedgeable Inc to resolve allegations that the companies had made false disclosure... More »
NEW YORK (Reuters) – Greg Jensen, co-chief investment officer of Bridgewater Associates, the largest hedge fund in the world, is forecasting “significantly weaker, near-recession-level growth” next year. In a telephone interview on Thursday, Jensen said Bridge... More »
NEW YORK (Reuters) – Investors fled U.S.-based stock funds in the latest week, setting those investments up for their biggest month of withdrawals on record, Lipper data showed on Thursday. More than $80.7 billion poured out of U.S.-based stock funds during th... More »
CHICAGO (Reuters) – Ai-jen Poo wants to transform caregiving into real work. By “real,” she does not mean more difficult. Rather, the activist and author is seeking recognition of the value of domestic work, and to raise its status and pay accordingly. “It’s t... More »
BRUSSELS (Reuters) – European Union leaders arrive in Brussels for a second day of day of talks on Brexit, the euro zone, migration and Russia, among others. Below are some of their comments made on arrival. AUSTRIAN CHANCELLOR SEBASTIAN KURZ “I think it was g... More »
BRUSSELS (Reuters) – European Union leaders arrive in Brussels for two days of talks on Brexit, the euro zone, migration and Russia, among others. Below are some of their comments made on arrival. FRENCH PRESIDENT EMMANUEL MACRON “We can have a political discu... More »
LONDON (Reuters) – Investors pulled billions from bonds and stocks this week as U.S. bond movements triggered fears over global growth and a trade tussle between the United States and China heated up, strategists at Bank of America Merrill Lynch said on Friday... More »
CHICAGO (Reuters) – Insurance companies do not need any help marketing Medicare Advantage plans – just ask anyone over age 65 about the pitches that clog their mailboxes every year during the fall enrollment period, or check out the television ads that flood c... More »
NEW YORK (Reuters) – BlackRock Inc’s (BLK.N) Rick Rieder is buying longer-term bonds because softening inflation could force the U.S. Federal Reserve to pause interest rate hikes, the top fixed-income investor told Reuters this week. Rieder, who is chief inves... More »
NEW YORK (Reuters) – Jeffrey Gundlach, chief executive officer of DoubleLine Capital, said the U.S. Treasury yield curve inversion on short-end maturities was signaling the “economy is poised to weaken.” Gundlach told Reuters the Treasury yield curve from two-... More »
WASHINGTON (Reuters) – U.S. Supreme Court justices on Monday appeared reluctant to further limit the scope of who can be held liable for violating laws that protect investors from securities fraud as they weighed an appeal by a New York investment banker who h... More »
MONACO (Reuters) – Preparations by the teams competing for the 36th America’s Cup in 2021 are well underway, although they are charting different courses in designing their radical new foiling monohulls. While American Magic and INEOS Team UK have both shown o... More »
(Reuters) – Investment bank Moelis & Co said on Monday it has hired an executive from the world’s largest index fund manager, BlackRock Inc, as well as a hedge fund professional, for its team advising companies facing activist shareholders. Ted Moon, who had b... More »
PARIS (Reuters) – French President Emmanuel Macron will urge a visiting group of top Silicon Valley venture capitalists this week to invest in the nation’s start-ups while calling on them not to “steal” the best creations, four sources told Reuters. The discre... More »
NEW YORK (Reuters) – Brenham Capital Management LP, an energy equities fund manager with about $800 million in assets under management, will shut after two years of losses, its founder said in a letter to investors on Friday. The Dallas-based fund will be liqu... More »
NEW YORK (Reuters) – U.S. mutual fund investors pulled $13.7 billion from stocks and bonds during the latest week, according to data released on Thursday by Lipper underscoring retail investors’ rising concerns over turbulent markets. After a sprinting start t... More »
CHICAGO (Reuters) – American homes are showing their age – not the houses, but the people living in them. In 2016, about 55 percent of U.S. households (or about 65 million households) were headed by someone aged 50 or older, according to the Joint Center for H... More »
BOSTON (Reuters) – A former Morgan Stanley adviser was sentenced to five years in prison on Tuesday after he admitted that he misused client funds to invest in a wind farm project and to cover his own personal expenses, including college tuition for his childr... More »
NEW YORK (Reuters) – Top BlackRock Inc (BLK.N) bond investor Rick Rieder halved exposure in recent months to a once-major bet in his portfolios on emerging markets on concerns including that the dollar could move higher, he told Reuters on Friday. “I still wou... More »
CHICAGO (Reuters) – Roberta Dell has worked for 46 years making lollipops, and she loves her job. But she worries that retirement may not be as sweet as the Dum Dum lollipops she bags. Dell works for the Spangler Candy Company in Bryan, Ohio – a family-owned b... 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 »
NEW YORK (Reuters) – Investors in U.S. funds traded international equities for domestic stocks during the latest week as earnings beat expectations while trade tensions simmered, Lipper data showed on Thursday. U.S.-based equity funds posted $620 million in wi... More »
NEW YORK (Reuters) – Fannie Mae on Thursday issued the first-ever securities based on the Secured Overnight Finance Rate (SOFR), an alternative to the London interbank offered rate (LIBOR) which may cease to exist after 2021. The U.S. mortgage finance agency’s... More »
(Reuters) – Fund investors piled into U.S.-based equity exchange-traded funds in the week ended Wednesday, following six straight weeks of withdrawals, Lipper data showed on Thursday, as investors geared up for strong quarterly earnings. The flows showed that ... More »
July 19 (Reuters) – U.S. municipal bond funds reported $1.3 billion of net inflows in the week ended July 18, compared with $651 million in inflows in the previous week, according to data released by Lipper on Thursday. The four-week moving average remained po... More »
BOSTON (Reuters) – Top asset manager BlackRock Inc (BLK.N) has hired Ray Cameron as head of the Americas within its investment stewardship arm, according to a memo seen by Reuters on Thursday, turning to an outsider to fill the role left vacant since last year... More »
CHICAGO (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) Thinking of adding a Medigap supplemental policy to your Medicare coverage? Beware: you could be charged higher rates or be turned away completely if you have a... More »
NEW YORK (Reuters) – (The writer is a Reuters contributor. The opinions expressed are his own.) Over the past year, Angela Bassett has been showing her wide acting range as mother of superhero T’Challa in “Black Panther” and a CIA director in the new “Mission:... More »
NEW YORK (Reuters) – A prolonged U.S. trade war with China and Europe would dent global economic growth and force investors to reassess the profitability of U.S. companies, some of the biggest hedge funds and private equity investors in the United States warne... More »
NEW YORK (Reuters) – Erik Cetrulo, a former portfolio manager at Steven Cohen’s Point72 Asset Management, is raising funds for a global macro discretionary hedge fund and is targeting a launch in the first quarter of 2019, two sources familiar with the situati... More »
SHANGHAI (Reuters) – Tesla Inc on Tuesday signed agreements with Shanghai authorities that will allow it to open a plant in the Chinese city with an annual capacity of 500,000 cars, local media reported. The U.S. carmaker signed agreements with the Shanghai mu... More »
BEIJING/SHANGHAI (Reuters) – U.S. carmaker Tesla Inc has hiked prices on its Model X and S cars by about 20 percent in China, the first automaker to do so in the world’s top automotive market in response to mounting trade tensions between the countries. The mo... More »
PARIS/NEW YORK (Reuters) – Second-hand fashion, once confined to thrift stores, is outstripping sales growth in the primary luxury goods sector, helping market leader The RealReal expand its business and prompting international labels to look at tie-ups. Sales... More »
LONDON (Reuters) – Over a third of sovereign investors plan to cut their equity exposure over the next three years after a strong run in 2017, citing trade wars, geopolitics and high valuations as headwinds to performance, a study by asset manager Invesco show... More »
ZURICH (Reuters) – Credit Suisse has carved out a new role to lead its handling of sexual harassment claims and examine group-wide policies, as Switzerland’s second-biggest bank seeks to boost equal opportunities and create a fair treatment environment. The ap... More »
NEW YORK (Reuters) – Investors played it safe in June, plucking the most cash out of U.S.-based equity funds since the peak of the 2008 global financial crisis as U.S. trade disputes discouraged risk, Lipper data showed on Thursday. U.S.-based stock mutual fun... More »
NEW YORK (Reuters) – U.S. fund investors peeled out of stocks, pulling the most cash since February in the most recent week as global trade tensions vexed markets, Investment Company Institute data showed on Thursday. Investors snatched $18 billion from U.S.-b... More »
PARIS (Reuters) – Models strutted past Parisian landmarks, including the green book stalls that line the river Seine, at Chanel’s fashion show on Tuesday, as the luxury label mocked up an entire cityscape to present its latest Haute Couture collection. The fas... More »
SHANGHAI (Reuters) – Renowned global hedge fund managers Bridgewater Associates LP and Winton Group Ltd have had registrations to launch products in China accepted at a time of turbulence in capital markets, reflecting a change in the government’s stance towar... More »
PARIS (Reuters) – Black and gold trouser suits and dreamy gowns laced with velvet or overflowing with feathers led the parade of evening wear glamor at Italian designer Giorgio Armani’s Haute Couture show in Paris on Tuesday. The 83-year-designer – whose creat... More »
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) Navigating Medicare can be complicated, but one big change recently introduced requires that you do absolutely nothing beyond opening an envelope. In fact, doing just ... More »
NEW YORK (Reuters) – Worries that a broadening trade war between the United States and China will upend the global supply chain are prompting some U.S. fund managers to buy shares of companies they believe will shield them from such disruptions. Managers from ... More »
BOSTON (Reuters) – For a year, billionaire hedge fund manager Daniel Loeb has watched quietly from afar as Nestle SA tries to energize its business. But his patience has worn thin and he has been telling associates and his own investors that time is now up for... More »
BOSTON (Reuters) – Billionaire investor Daniel Loeb on Sunday stepped up pressure on food group Nestle SA (NESN.S), in a letter that urged its board to be “sharper,” “bolder” and “faster” in spinning off businesses and untangling its complex management structu... More »
LONDON (Reuters) – Equity funds suffered their second-largest weekly outflows ever this week, with $29.7 billion pulled out of risky assets, Bank of America Merrill Lynch (BAML) strategists said on Friday as fears about rising U.S. protectionism continue to we... More »
WASHINGTON (Reuters) – The U.S. securities regulator on Thursday voted unanimously to propose easing its rules for approving low-risk exchange-traded funds (ETFs) in what could potentially be a major win for the $3.5 trillion market. The Securities and Exchang... More »
BOSTON (Reuters) – Och-Ziff Capital Management Group LLC is putting a new generation into top leadership positions roughly five months after bringing in an outsider as chief executive to end a battle for control of the investment firm. The New York-based firm ... More »
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) Ed Slott is a certified public accountant by training, but he admits that his professional colleagues have their faults. “By nature, we are history teachers – we’ll te... More »
BOSTON (Reuters) – Billionaire investor John Paulson’s top real estate executives are launching their own investment firm with $1 billion and the hedge fund manager’s blessing, sources familiar with the matter said. Michael Barr, a portfolio manager who headed... More »
NEW YORK (Reuters) – TV news viewers may recognize one reporter who pops up in trouble spots all over the world: From the 2010 earthquake in Haiti, to the Boko Haram kidnappings in Nigeria, to assorted crises in Mali, Thailand, Algeria and the Mideast. In an e... More »
NEW YORK (Reuters) – Hedge fund investor Doug Kass said on Wednesday that he is adding to his already large bank exposure in Citigroup Inc, JPMorgan Chase & Co, Bank of America Corp and Wells Fargo & Co as Deutsche Bank AG’s problems “will benefit large U.S. m... More »
LONDON (Reuters) – A nude painting by Lucian Freud has sold for $29 million dollars at auction, the highest price paid for one of the British figurative artist’s works in London, according to auction house Sotheby’s. Freud, who died in 2011, painted “Portrait ... More »
CHICAGO – (The opinions expressed here are those of the author, a columnist for Reuters.) Joseph Gallagher was starting to think about retiring from his construction job in 2008 when the bear market “beat me up pretty badly,” he said. Gallagher waited until 20... More »
LONDON (Reuters) – European shares made a modest bounce on Tuesday, recovering slightly after trade tensions sent stock markets into a spiral as investors shed risky assets. The pan-European STOXX 600 was up 0.3 percent by 0837 GMT, but was far from making up ... More »
BOSTON (Reuters) – Massachusetts’ securities regulator on Monday accused MetLife Inc of making false statements to investors related to its failure to pay pension benefits to thousands of retirees that it improperly treated as “presumed dead.” Massachusetts Se... More »
(This version of the June 22 story corrects paragraph 3 to say Weiss was a nominee and had not previously served on Natus’ board) (Reuters) – Natus Medical Inc said on Friday its stockholders had elected hedge fund Voce Capital Management’s nominees to the com... More »
BOSTON (Reuters) – Some small investors who want to give a piece of their minds to big tech company directors are losing their only chance: many board members are skipping annual shareholder meetings. Companies that hold meetings online have some of the worst ... More »
PARIS (Reuters) – A giant sculpture made of pink and black flowers set the tone at Christian Dior’s catwalk show in Paris on Saturday as new menswear designer Kim Jones stamped his style on the storied French label with a display of floral-inspired, airy looks... More »
NEW YORK (Reuters) – U.S.-based money market funds posted $51 billion of net outflows for the week ended Wednesday, the largest cash withdrawal since 2011 and the seventh largest ever, according to Lipper data on Thursday. The drawdown in money fund assets, wh... More »
SYDNEY (Reuters) – One of Australia’s oldest financial institutions, AMP Ltd (AMP.AX), spent years building the country’s largest network of financial advisers to recommend its products, and well over a century polishing its brand. But in a bruising few months... More »
(Reuters) – A federal judge on Thursday dismissed a lawsuit accusing Credit Suisse Group AG of withholding up to $300 million of compensation from U.S.-based brokers when it closed their private banking unit in 2015. U.S. District Judge William Orrick in San F... More »
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) Most Americans do not want to go back to the bad old days when health insurance companies could charge sick people more for coverage or turn them away altogether. But ... More »
CHICAGO (Reuters) – The demographic trend is no secret: the populations of the United States and other major industrial countries are getting older, and fast. That means workforces are aging too, but employers are doing surprisingly little to prepare to meet t... More »
BASEL, Switzerland (Reuters) – In a year when many major galleries made record sales, conversations at the world’s biggest art fair this week were not just about the eye-watering sums paid for top works, but also about how to ensure the viability of the market... More »
LONDON (Reuters) – A portrait of one of Picasso’s muses and a prized painting of a Paris train station by Claude Monet go under the hammer in London next week, leading a sale of impressionist and modern art works. Monet’s “Gare Saint-Lazare, Vue exterieure” is... More »
CHICAGO (Reuters) – Fewer Americans are asking Social Security to “show me the money” as soon as possible. The share of workers claiming Social Security retirement benefits at the earliest possible date has plunged in recent years. That probably reflects growi... More »
NEW YORK (Reuters) – Alternative asset manager Blackstone Group LP (BX.N) is still open to doing deals in Italy despite political turmoil in the euro zone country, President and Chief Operating Officer Jon Gray said on Wednesday. “Sure. It’s a function of pric... More »
CHANTILLY, France (Reuters) – Christian Dior turned the runway into a Mexican-inspired rodeo on Friday at France’s sumptuous Chantilly chateau, unveiling its latest mid-season “cruise” collection alongside a horse-riding spectacular. Under driving rain, riders... More »
CHICAGO (Reuters) – In September, the federal government will mail a handbook on Medicare enrollment to 43 million households. “Medicare & You” is an important, authoritative source on a wide array of plan options for the annual enrollment period that runs fro... More »
BOSTON/NEW YORK (Reuters) – Jana Partners said on Wednesday it was not invested in Casey’s General Stores Inc after speculation that the hedge fund had built a stake in the company helped push its stock price up more than 9 percent in afternoon trading. “We do... More »
OSLO (Reuters) – Norway’s $1 trillion wealth fund voted against a motion at Shell’s annual meeting urging the energy giant to set climate targets, despite a push the fund is making for more firms to do so. Long-term investors with $10.4 trillion of assets unde... More »
BOSTON (Reuters) – Activist hedge fund manager Keith Meister and billionaire investor Carl Icahn said they may try to buy oil and gas producer Energen Corp (EGN.N), according to a regulatory filing made on Monday. Icahn, 82, reunited with Meister, his 45-year ... More »
BOSTON (Reuters) – Proxy adviser Institutional Shareholder Services (ISS) recommended on Friday that investors vote against Tesla Inc (TSLA.O) directors Antonio Gracias and James Murdoch, increasing pressure on the car maker over their roles on its board. ISS ... More »
BOSTON (Reuters) – Several socially conscious investment firms are selling or rethinking their Facebook Inc holdings, unsatisfied by the company’s moves to strengthen personal data protection and online safety after scandals involving the improper sharing of u... 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 »
BOSTON (Reuters) – Two days after billionaire investor William Ackman told clients that he was making money across all his funds again, he said on Thursday that his publicly traded Pershing Square Holdings Ltd portfolio was barely in the black so far this year... More »
CHICAGO (Reuters) – (The writer is a Reuters columnist. The opinions expressed are his own.) Americans do not agree on much these days, but we are united on the cost of medicine. Large majorities of Republican, Democratic and independent voters say they would ... More »
NEW YORK (Reuters) – A nude portrait by Amedeo Modigliani sold for $157.2 million at Sotheby’s on Monday, achieving the 4th-highest price for any work of art at auction but failing to set a new record for the artist. Sotheby’s had estimated “Nu couché (sur le ... More »
LONDON (Reuters) – Jim Ratcliffe, the founder and boss of chemical giant Ineos, is the richest man in the United Kingdom, according to the Sunday Times Rich List, first among a record 145 billionaires living in the country. Ratcliffe maintains a relatively low... More »
NEW YORK (Reuters) – BlackRock Inc can keep fees from the state of Ohio despite a donation one of its top executives made to Governor John Kasich’s U.S. presidential campaign, according to a preliminary ruling late on Friday by a securities regulator. Mark Wie... More »
LAS VEGAS (Reuters) – A hedge fund industry gathering in Las Vegas this week was far less decadent than those of the past, as big money investors focused less on gambling and champagne-soaked “Sin City” celebrations and more on the grind of vetting fund manage... More »
NEW YORK (Reuters) – U.S. fund investors are wavering on one of their favorite bets of the last year, walloping emerging-market stocks and hunkering down in short-term bonds. Funds offered in the United States but invested in shares in emerging markets recorde... More »
(Reuters) – (This May 9 story has been refiled to correct name of organization to “Catholic Health Initiatives” from “Catholic Health Services” in thirteenth paragraph.) A majority of Sturm Ruger & Co investors on Wednesday voted to support a call for the gun ... More »
