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LONDON (Reuters) - A major revamp of how investment funds are managed and regulated in Europe appears to be aimed at taking business from Britain and should be scrapped as there is no evidence it is...
By Trevor Hunnicutt NEW YORK, March 14 (Reuters) - U.S. fund investors withdrew billions from domestic stocks during the equity market's tariff tantrum, the Investment Company Institute (ICI) said on Wednesday, adding turbulence to a market that has shed its carefree attitude. Some $11 billion was liquidated from U.S.-based domestic stock mutual funds and exchange-traded funds (ETFs) during the seven days ended March 7, according to the trade group, as U.S. President Donald Trump ann
WILMINGTON, Del (Reuters) - A lawyer for investors in Lynn Tilton's distressed debt empire told a U.S. judge on Tuesday that his clients plan to challenge her plan to use a bankruptcy filing to end years of legal battles over her private equity portfolio.
TRENTON (Reuters) - New Jersey Governor Phil Murphy presented his first budget on Tuesday for $37.4 billion, turning sharply from the previous administration with proposals to hike taxes on millionaires, close loopholes for hedge funds and big businesses, legalize recreational marijuana and phase in free community college.
LONDON (LPC) - The European Commission has introduced proposals to bolster cross-border investing in alternative investment funds (AIF) to better improve financing options for small and medium-sized...
WILMINGTON, Del./NEW YORK (Reuters) - Colorful New York financier Lynn Tilton has put her Zohar investment funds, a key element of her distressed-debt empire and the subject of several legal battles, into Chapter 11 bankruptcy, with a goal of selling assets or refinancing debt.
GENEVA, March 7 (Reuters) - The number of pension funds and asset managers that refuse to invest in nuclear armament makers appears to be growing, although financing is still abundant, an annual survey by anti-nuclear campaigners said on Wednesday.
(Reuters) - The number of U.S. options-based funds grew steadily over the last three years and the assets under management at these funds hit a record high in 2017, even as equity market volatility...
* IDG VENTURES INDIA SAYS CISCO INVESTMENTS INVESTS IN IDG’S THIRD FUND Source text - IDG Ventures India today announced that Cisco Investments has invested in IDG’s third and most recent fund. IDG Ventures India is one of the top VCs with over 70 portfolio investments across a range of technology sectors. The funds have had a number of exits in the recent past, the most recent being Newgen Software which listed on both the National / Bombay stock exchanges (NSE/BSE) in India in January. IDG Ven
BOSTON (Reuters) - For three years, the mutual funds in Fidelity's flagship retirement franchise have outperformed at least 85 percent of their competitors, reversing a decade-long trend of subpar performance.
SAO PAULO, March 3 (Reuters) - Two pension funds that are the largest shareholders in Brazilian food processor BRF SA presented on Saturday a list of ten candidates for seats to the company's board that excludes the current chairman, according to a joint statement.
(Reuters) - A California movie producer who headed a boutique merchant bank has been convicted on charges he defrauded investors in hedge funds overseen by a New York-based investment adviser out of $26 million, prosecutors said on Friday.
(Reuters) - The long-serving mayor of Pennsylvania's third-most populous city was convicted on Thursday on federal charges he shook down vendors for campaign funds, a U.S. prosecutor and local media reported.
BUENOS AIRES, March 1 (Reuters) - U.S.-based investment manager Franklin Templeton Investments has launched a partnership with Grupo SBS under which it will advise funds catering to Argentine investors and sold by the Buenos Aires-based fund manager, the companies said.
PORT-AU-PRINCE (Reuters) - A diplomatic row has erupted between the Haitian government and the United Nations over comments made by a senior U.N. official cheering an investigation into the alleged misuse of Venezuela-sponsored Petrocaribe funds by previous administrations.
TEGUCIGALPA (Reuters) - Police arrested the wife of former Honduran President Porfirio Lobo on Wednesday on corruption charges including siphoning funds from social works programs for the poor, officials said.
NEW YORK (Reuters) - BlackRock Inc, the world's largest asset manager, on Wednesday said that commentary by third parties suggesting possible adverse impacts from the growth in index investing could...
NEW YORK (Reuters) - Martin Shkreli, the former drug company executive convicted of defrauding investors in two hedge funds he ran, has asked a federal judge to sentence him to 12 months to 18 months in prison, much less than suggested federal guidelines.
LONDON (Reuters) - Global investors cut their equity exposure to a three-month low in February after markets went into freefall early in the month and volatility spiked, though most still expect stocks to test new highs despite rising bond yields.
ALLENTOWN, Pa. (Reuters) - The long-serving mayor of Pennsylvania's third-most populous city, on trial on charges that he shook down vendors for campaign funds, is a dedicated public servant brought down by corrupt aides, his lawyer told a federal court on Tuesday.
WASHINGTON (Reuters) - U.S. senators who just returned from a trip to Israel called on Tuesday for an increase in the $38 billion in military aid the United States is currently providing Israel, signaling support for more funds for Israeli missile systems.
WASHINGTON (Reuters) - PayPal Holdings Inc has settled U.S. charges it failed to give critical privacy and funds transfer information to users of its Venmo payment service, the Federal Trade Commission said on Tuesday.
WASHINGTON, Feb 27 (Reuters) - PayPal Holdings Inc has settled U.S. charges it failed to give critical privacy and funds transfer information to users of its Venmo payment service, the Federal Trade Commission said on Tuesday.
BOSTON (Reuters) - The parent of Fidelity Investments said on Tuesday that operating profit in 2017 rose 54 percent to $5.3 billion, even as customers continued to yank billions of dollars from its actively managed mutual funds.
WASHINGTON (Reuters) - The U.S. Supreme Court appeared divided along ideological lines on Monday in a high-stakes case that could deprive unions representing police, firefighters and certain other public employees of a key source of funds -- millions of dollars in fees they can collect annually from non-members.
SINGAPORE, Feb 23 (Reuters) - Electricity producer Summit Power International plans to list on the Singapore Exchange Ltd (SGX) by April, what is likely the first company from Bangladesh to offer shares in the city-state, as it seeks to raise funds to invest in assets across Asia.
NEW YORK, Feb 23 (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.
NEW YORK (Reuters) - Charles Schwab Corp and several of its mutual funds persuaded a U.S. appeals court on Friday to revive their lawsuit seeking to hold 17 banks responsible for manipulation of the benchmark Libor interest rate.
(Reuters) - BMW AG agreed to pay more than $2.2 million to settle U.S. government claims that it failed to provide required refunds to 492 military personnel who lawfully terminated their vehicle leases because they were called to duty.
Feb 22 (Reuters) - BMW AG agreed to pay more than $2.2 million to settle U.S. government claims that it failed to provide required refunds to 492 military personnel who lawfully terminated their vehicle leases because they were called to duty.
By Trevor Hunnicutt NEW YORK, Feb 21 (Reuters) - U.S. fund investors tiptoed back into stocks after pulling the most cash on record the week prior, but they are now punishing bonds, Investment Company Institute (ICI) data showed on Wednesday. Investors pulled $12.1 billion from bond mutual funds and exchange-traded funds (ETFs) in the United States during the most recent week, the trade group said, marking the most cash drained out of those products since December 2015 and the first
SEOUL (Reuters) - General Motors has proposed investing $2.8 billion into its struggling South Korean operations over the next 10 years and has asked Seoul to provide funds for the investment, a South Korean government official said on Wednesday.
ABU DHABI (Reuters) - Switzerland has not seen any major inward or outward movement of funds from Saudi Arabia, the chairman of the Swiss Bankers Association said on Monday when asked whether he had...
MEXICO CITY (Reuters) - Mexico's southern state of Oaxaca requested federal emergency funds on Sunday to supply food, shelter and health services in more than 30 municipalities battered by last week's powerful quake in a region still reeling from temblors in September.
(Reuters) - U.S. regulators on Thursday rejected the sale of the Chicago Stock Exchange (CHX) to a group led by China-based investors, in part because they were unable to get enough information on some of the proposed buyers and the sources of their funds.
NEW YORK (Reuters) - U.S. fund investors fled the riskier corners of the debt market, pulling the second-highest amount of cash on record from high-yield "junk" bonds during the latest week, Lipper...
LONDON (Reuters) - The number of hedge funds focused on trading cryptocurrencies more than doubled in the four months to Feb. 15, despite sharp falls in the value of the virtual coins in recent weeks, data from fintech research house Autonomous NEXT showed on Thursday.
Most lawyers aren't willing to sacrifice themselves for their clients. That is, it seems, except in the case of Michael Cohen. Known to the world as "President Trump's personal lawyer," Cohen claims to have taken a $130,000 financial hit to protect his client from a scandal: allegations that Donald Trump had an affair with porn star Stephanie Clifford, aka "Stormy Daniels," in 2006. On Tuesday, Cohen said in a statement that he used personal funds in 2016 to "facilitate a payment" to Clifford and that no one in the Trump Organization or campaign "reimbursed me for the payment, either directly or indirectly."
BOSTON (Reuters) - Wall Street investors were so convinced that Hunter Harrison could turn around railroad CSX Corp that the company lost $4 billion in market value when the former CEO took a medical leave in December and died only a few days later.
VIENNA (Reuters) - Austria's vice chancellor and leader of the far-right Freedom Party pledged on Wednesday to force a shift in reporting standards at national broadcaster ORF, which he accuses of leftist bias, and to scrap the license fee that funds it.
KUWAIT (Reuters) - Kuwait's Emir said it would lend $1 billion and commit a further $1 billion of investments to Iraq, joining a group of international backers that have this week pledged funds to bolster the country's recovery.
London (Reuters) - The relationship between private equity managers and investors is changing rapidly after the number of $5 billion buyout ‘megafunds’ jumped in 2017, according to McKinsey’s annual...
NEW YORK (Reuters) - New York's attorney general said on Monday a deal for the Weinstein Company should include a bigger compensation fund for victims of ex-chairman Harvey Weinstein, speaking a day after the state's lawsuit scuttled a deal.
WASHINGTON (Reuters) - President Donald Trump released his second budget on Monday, seeking to bolster military spending and requesting funds for infrastructure, construction of a wall along the border with Mexico and opioid treatment programs.
Environmental Protection Agency Administrator Scott Pruitt has used taxpayer funds to purchase first-class airfare and spend nights at luxury hotels more often than his predecessors, according to records first analyzed by The Washington Post.
LONDON (Reuters) - "Chocfinger" made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel.
LONDON, Feb 12 (Reuters) - "Chocfinger" made his name and his money by taking bold bets on cocoa markets. But after nearly four decades of trading, sometimes winning, sometimes losing, Anthony Ward threw in the towel.
WASHINGTON (Reuters) - President Donald Trump will unveil his second budget on Monday - seeking to make good on his promise to bolster military spending and requesting funds for infrastructure, construction of a wall along the border with Mexico and opioid treatment programs.
(Reuters) - Remington Outdoor Company Inc, one of the largest U.S. makers of firearms, has reached out to banks and credit investment funds in search of financing that will allow it to file for bankruptcy, people familiar with the matter said on Thursday.
(Adds details on funds, analyst quote, table, byline) By Trevor Hunnicutt NEW YORK, Feb 8 (Reuters) - U.S. fund investors sucked $23.9 billion out of the stock market during the latest week, marking the largest withdrawals from those funds on record, Lipper data showed on Thursday, as the benchmark S&P 500 and Dow Jones Industrials indexes sank further from their record highs. The withdrawals from U.S.-based equity exchange-traded funds (ETFs) and mutual funds took place during the
SHANGHAI, Feb 8 (Reuters) - China has resumed an outbound investment scheme after a two-year hiatus, granting licenses to about a dozen global money managers, sources said, signaling that Beijing is less worried about capital outflows amid a surge in the Chinese currency.
WASHINGTON (Reuters) - U.S. lawmakers must pay their own awards and settlements in sexual harassment cases instead of tapping public funds, under a measure approved by the U.S. House of Representatives on Tuesday which also took other steps to strengthen worker protections for congressional employees.
LONDON (Reuters) - A pick up in currency market volatility over the last few days after years of suppression by central banks' easy-money policies has prompted some investors to look again at protecting against, or profiting from, sharp moves.
* DOUBLE EAGLE ENERGY HOLDINGS III - SECURED EQUITY COMMITMENTS OF MORE THAN $1 BILLION, ANCHORED BY FUNDS MANAGED BY AFFILIATES OF APOLLO GLOBAL MANAGEMENT Source text for Eikon: Further company coverage:
LONDON/FRANKFURT (Reuters) - Brazilian drugs firm EMS and Indian rival Torrent Pharma have emerged as the only industry bidders for Sanofi's generic drugs unit, battling a series of buyout funds for an asset worth as much as $2.4 billion, sources familiar with the matter told Reuters.
WASHINGTON (Reuters) - The U.S. House of Representatives plans to vote on Tuesday on legislation to keep federal agencies operating beyond Feb. 8, when existing funds expire, a senior House Republican aide said on Friday.
Saying the Trump administration has yet to offer any new funds to fight the growing opioid epidemic, some Senate Democrats are demanding answers about what the White House is doing to address the problem.
BOSTON (Reuters) - After Wells Fargo & Co decided to ramp up risk in its flagship age-based retirement funds last year, one of its largest customers decided to call it quits, unhappy with the new investment strategy and how the bank handled the transition.
WHITE SULPHUR SPRINGS, W.Va (Reuters) - An immigration deal protecting young "Dreamer" immigrants and allocating additional funds for border security without also addressing family migration and the visa lottery would be a "non starter," Republican Mark Meadows, head of the conservative Freedom Caucus in the U.S. House of Representatives, said on Thursday.
HONG KONG (Reuters) - Ant Financial's money market fund will place a temporary daily cap on subscription volumes ahead of an expected surge in inflows during the Chinese Lunar New Year, as calls grow for tighter regulations of these funds to prevent systemic risks.
DETROIT, Jan 26 (Reuters) - United Auto Workers President Dennis Williams on Friday denied a claim that payments by a Fiat Chrysler Automobiles NV (FCA) executive to a union official had compromised contract talks or impacted union funds.
DETROIT (Reuters) - United Auto Workers President Dennis Williams said on Friday that a claim that payments by a Fiat Chrysler Automobiles NV (FCA) executive to a union official had compromised contract talks or impacted union funds was baseless.
(Reuters) - Loot Crate Inc, a monthly subscription service that sends video game and sci-fi paraphernalia to customers, has hired strategic consulting firm Dendera Advisory LLC as it seeks to raise new funds, people familiar with the matter said.