LONDON () – England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. FILE PHOTO: A man walks past an AVIVA logo outside the company’s head office in the
() – Artemis Investment Management LLP said on Tuesday it had named Nick Shenton and Andy Marsh partners, effective immediately. Shenton, who joined the investment firm in 2012, has more than 16 years of experience as a fund manager. Marsh served at Polar Capital as a partner for 11 years before joining Artemis in February
NEW YORK () – In a world of extremely rapid change, we have seen plenty of things vanish, from rotary phones to electric typewriters to 8-track music cartridges. FILE PHOTO: A coil of USA First Class postage stamps, bearing an image of the Statue of Liberty and U.S. flags, is shown in Washington, April 15,
NEW YORK () – EBay Inc.’s stock price slumped for most of last year but a number of prominent hedge funds were so convinced that change is on the horizon for the e-commerce company that they established new or added to existing positions in the last months of 2018. FILE PHOTO: The eBay app is
NEW YORK () – Prominent U.S. investor Jeffrey Vinik is promising potential clients a cut in fees and said that it had been tougher to raise money than he initially thought, as he prepares to relaunch Vinik Asset Management after six years on the sidelines. Vinik, who once ran Fidelity’s Magellan mutual fund and then
() – Warren Buffett’s Berkshire Hathaway Inc said it trimmed its stake in iPhone maker Apple Inc, its largest stock investment, and added positions in Canada’s Suncor Energy Inc and software company Red Hat Inc. FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January 3, 2019. /Arnd WiegmannBerkshire also
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 13, 2019. /Brendan McDermidNEW YORK () – U.S. fund investors added another $18.7 billion to money market funds during the latest week, likely putting the low-risk funds on track for a third straight quarter of positive demand, Lipper
FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January 3, 2019. /Arnd Wiegmann() – Warren Buffett’s Berkshire Hathaway Inc said on Thursday it has trimmed its stake in iPhone maker Apple Inc, which is its largest stock investment, and added positions in SunCor Energy Inc and Red Hat Inc.
() – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns. FILE PHOTO: Charlie Munger, vice chairman of Berkshire Hathaway Inc arrives at the company’s annual meeting
NEW YORK () – Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley giants like Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. FILE PHOTO: An investor watches a board showing stock information at a brokerage office
WASHINGTON () – The average U.S. tax refund under President Donald Trump’s tax overhaul is down nearly 9 percent so far in this year’s tax filing season, according to Internal Revenue Service data released on Thursday. FILE PHOTO: The new Form 1040 tax form for individuals, released by U.S. Treasury Department, is shown in this
NEW YORK () – Wealthfront, one of the largest digital wealth management firms known as “robo-advisers”, said on Thursday it is expanding its suite of financial products by introducing a cash account with a rate on deposits of 2.24 percent, significantly higher than the average U.S. rate. Dan Carroll, Founder and Chief Strategy Officer of
NEW YORK () – A New York investment manager pleaded guilty on Wednesday to running a $21.9 million fraud in which he falsely told dozens of investors their money was being used to build an international airport in Belize, the U.S. Department of Justice said. Brent Borland, 48, a principal at Borland Capital Group, pleaded
NEW YORK () – Slower overall growth is the new normal for China, but the globe’s second largest economy still holds much promise for choosy foreign investors, according to U.S. portfolio manager Kera Van Valen, who helps manage over $17 billion in assets. FILE PHOTO: Kera Van Valen, managing director and portfolio manager at Epoch
FRANKFURT () – German fund manager Union Investment is nearing a deal to buy about 16,000 German flats for roughly 2 billion euros ($2.3 billion) from a Chinese investor, people close to the matter told . BGP and Union Investment confirmed the deal but declined to give financial details. The deal would be the first
FILE PHOTO: U.S. Federal Reserve Vice Chair Stanley Fischer addresses The Economic Club of New York in New York, U.S. on March 23, 2015. /Brendan McDermid/File Photo() – BlackRock Inc is hiring former U.S. Federal Reserve Vice Chair Stanley Fischer as a senior adviser, the world’s largest fund manager said in a memo on Wednesday.
William ‘Bill’ Ackman, CEO and Portfolio Manager of Pershing Square Capital Management, speaks during the Sohn Investment Conference in New York City, U.S., May 8, 2017. /Brendan McDermidBOSTON () – Hedge fund manager William Ackman told investors that his publicly traded portfolio has gained 24.7 percent this year, fueled by strong growth in Fannie Mae,
FRANKFURT () – German fund manager Union Investment is nearing a deal to buy about 16,000 German flats from BGP, a Chinese investor, in a roughly 2 billion euro ($2.26 billion) deal, people close to the matter told . Union Investment is planning to merge the targeted real estate firm BGP Group with its own
A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. /Lucas JacksonNEW YORK () – Morgan Stanley’s global head of macro trading in the bank’s fixed income division is retiring, according to a memo seen by . Senad Prusac oversaw the foreign exchange and emerging market and interest rates
BOSTON/NEW YORK () – In America’s corporate boardrooms, diversity is making uneven progress: Women increasingly are pulling up a chair while racial and ethnic minorities still rarely get seats at the table. California State Senator Hannah-Beth Jackson is seen in this undated photo provided February 6, 2019. California State Senator Hannah-Beth Jackson/Handout via Twenty-seven percent
LONDON/NEW YORK/DUBAI () – When news emerged that Qatar may have unwittingly helped bail out a New York skyscraper owned by the family of Jared Kushner, Donald Trump’s son-in-law, eyebrows were raised in Doha. FILE PHOTO: U.S. President Donald Trump, flanked by White House senior advisor Jared Kushner, meets with Saudi Arabia’s Deputy Crown Prince
BOSTON () – Blackstone Group LP is backing a new hedge fund being run by former Eton Park partner Aaron Wertentheil with a $150 million commitment, two sources familiar with the matter said on Tuesday. FILE PHOTO: The ticker and trading information for Blackstone Group is displayed at the post where it is traded on
FILE PHOTO: A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. /Brian Snyder() – Fidelity Investments, one of the world’s largest investment managers, said on Tuesday it had expanded its commission-free exchange traded fund (ETF) platform to include more than 500 ETFs. The expansion is a part of Fidelity’s partnership
FILE PHOTO: A sign marks a Fidelity Investments office in Boston, Massachusetts, U.S. September 21, 2016. /Brian Snyder() – Fidelity Investments, one of the world’s largest investment managers, said on Tuesday it has expanded its commission-free exchange traded fund (ETF) platform to include more than 500 ETFs. The expansion is a part of Fidelity’s partnership
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. /Stephanie KeithNEW YORK () – Wells Fargo & Co expects its net interest income, a key measure of bank profitability, to be up or down 2 percent for the year in 2019, depending on deposit pricing and loan growth. Chief Financial
LONDON () – Investors made a U-turn on emerging markets, naming them the most crowded trade, in Bank of America Merrill Lynch’s survey for the first time in its history. A view shows a Russian one rouble coin in this picture illustration taken October 26, 2018. /Maxim ShemetovThis marked a big reversal from last month,
A view shows a Russian one rouble coin in this picture illustration taken October 26, 2018. /Maxim ShemetovLONDON () – Fund managers named emerging markets as the most crowded trade for the first time, ahead of the U.S. dollar and technology stocks, according to Bank of America Merrill Lynch’s February survey released on Tuesday. Investors
NEW YORK () – While this year’s taxapalooza is off to a slow start because of the earlier U.S. government shutdown, one thing already is clear: your refund might be a whole lot smaller than you were expecting. FILE PHOTO: The new Form 1040 tax form for individuals, released by U.S. Treasury Department, is shown
() – The California State Teachers’ Retirement System (CalSTRS), the second largest U.S. pension fund said on Monday it made a $250 million investment with Impactive Capital, a new activist hedge fund that expects to start trading next month. FILE PHOTO – Christopher Ailman, chief investment officer of the California State Teachers’ Retirement System (CalSTRS),
BOSTON () – Prominent short seller Carson Block is saying that medical device company Inogen Inc has inflated the size of its markets and expects the stock price to fall. FILE PHOTO – Carson Block, Chief Investment Officer, Muddy Waters Capital LLC., speaks at the Sohn Investment Conference in New York City, U.S. May 4,
