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Capital Markets Asset Management and Custody Banks

  • *London shares rise more than 3 percent. HONG KONG/ LONDON, May 4- HSBC Holdings Plc reported a better than expected first-quarter profit and capital position on Thursday, benefiting from an improved performance from its core operations and the return of cash from its U.S. unit. HSBC's shares rose 3 percent in London on Thursday, outperforming a 1 percent rise in the...

  • *Q1 profit before tax $5 bln versus $6.1 bln a year ago. HONG KONG/ LONDON, May 4- HSBC Holdings Plc on Thursday reported better than expected first-quarter profits and capital position on Thursday, boosting the lender's share price in Hong Kong as the bank seeks to move from restructuring to growth. HSBC's shares rose 2 percent in Hong Kong following the...

  • BEVERLY HILLS, Calif., May 3- After years of discord with a prominent hedge-fund manager, a federal investigation and bad publicity, Herbalife Ltd Chief Executive Officer Michael Johnson is taking a victory lap. At the Milken Institute Global Conference this week, Johnson touted the wares of his nutritional supplement maker, offering free shakes and protein...

  • *To hire 100 client advisors in Hong Kong over two years. HONG KONG, May 4- UBS Group AG plans to hire about 100 wealth management client advisors over the next two years in Hong Kong, the biggest wealth hub in Asia-Pacific, to grab a bigger share of the fast-growing mid-tier millionaire segment. "For us, the sweet spot is high-net-worth clients with investable assets...

  • MUMBAI, May 4- With red-and-white headphones draped around her neck, 22- year-old Indian IT security consultant Abdhija Sharma looks like she would be more at home discussing the latest music or Bollywood movies than compound returns on equity investments. But at an office in a Mumbai suburb one recent Saturday, surrounded by banners urging them to "Create...

  • BEVERLY HILLS, Calif., May 3- After years of discord with a prominent hedge-fund manager, a federal investigation and bad publicity, Herbalife Ltd Chief Executive Officer Michael Johnson is taking a victory lap. At the Milken Institute Global Conference this week, Johnson touted the wares of his nutritional supplement maker, offering free shakes and protein...

  • WASHINGTON, May 3- In a razor-thin vote, the U.S. Senate on Wednesday approved a resolution killing a Labor Department regulation aimed at easing federal restrictions for new state-sponsored retirement savings plans for lower-income workers. The rule, championed by states such as California but opposed by the mutual fund industry, exempted state-run...

  • *Investors buying sterling and UK gilts. The currency's steep fall since June's Brexit referendum has aggravated inflation to 2.3 percent, above the Bank of England's 2 percent target, risking a drain on consumers' real spending power while tying the Bank of England's hands if further monetary easing were needed. But after the election announcement on April 18,...

  • Vanguard founder Jack Bogle

    Vanguard Group founder Jack Bogle has done more than anyone to kill active management. Now he has a plan to save them.

  • MUNICH, May 3- German insurer Allianz is optimistic about its prospects despite a very tough business environment, the German insurer said on Wednesday as it posted a slightly better than expected first-quarter profit. Allianz also confirmed its forecast for 2017 as it said operating profit had risen 9.4 percent to 2.9 billion euros in the quarter, while...

  • LONDON, May 2- Hedge funds are losing faith that OPEC can accelerate the rebalancing of the oil market even if the group agrees to extend output cuts when it meets later this month. The number of long positions has fallen to the lowest level since before OPEC announced its output agreement on Nov. 30. Fund managers have become less bullish despite increasingly...

  • RIYADH, May 2- The prince overseeing Saudi Arabia's economy said his radical reforms were succeeding in protecting the kingdom against low oil prices, and he promised massive investments in coming years to help diversify the economy beyond oil. "Although our prices dipped to as low as $27 for more than one year... the government managed to shield economic...

  • May 2- First Solar Inc, the largest U.S. solar equipment manufacturer, posted a surprise profit, helped by the sale of the Moapa project and cost-cutting. The company said in March it sold the 250- megawatt Moapa project, located northeast of Las Vegas, to global private asset manager Capital Dynamics. The company said it expects full-year revenue of $2.85 billion-...

  • BEVERLY HILLS, May 2- Activist hedge fund Marcato Capital Management, which is currently seeking to oust the chief executive at Buffalo Wild Wings, has gained 6 percent in the first four months of 2016.. Separately, Jana Partners, another activist hedge fund which is currently pushing for change at Whole Foods, told investors that its Jana Partners fund gained 0.9...

  • May 2- Hedge fund Black-and-White Capital LP on Tuesday called on Etsy Inc, an online retailer of handmade goods, to explore a sale, saying the U.S. company's sales growth had slowed while costs had increased. Shares of New York City- based Etsy rose 2.4 percent to $11.32 in morning trading. Etsy's intrinsic value could reach $30 per share with operational...

  • LONDON, May 2- Hedge funds are losing faith that OPEC can accelerate the rebalancing of the oil market even if the group agrees to extend output cuts when it meets later this month. The number of long positions has fallen to the lowest level since before OPEC announced its output agreement on Nov. 30. Fund managers have become less bullish despite increasingly...

  • NEW YORK, May 1- Morgan Stanley's wealth management business said on Monday it is lowering the commissions that brokers earn on stock trades, exchange-traded funds and annuities amid pressure to lower costs for clients. The wealth management industry has taken steps to level the fees and commissions that brokers charge on investment products like mutual...

  • Reuters exclusively reported on April 26 that public pension funds in at least seven U.S. states periodically send millions of dollars to an investment fund that owns the Trump SoHo Hotel and Condominium in New York City and pays one of Trump's companies to run it, according to a Reuters review of public records. Trump is setting an extremely dangerous...

  • BEVERLY HILLS, May 1- Billionaire hedge fund manager Ken Griffin said he is encouraged by recent comments from U.S. officials that the government could move to break up the country's biggest banks. "My fantasy is to break up the big banks," Griffin said on Monday at the Milken Institute Global Conference in Beverly Hills. Griffin's hedge fund and securities firm...

  • BOSTON, May 1- The French parent of asset manager AllianceBernstein fired its longtime leader Peter Kraus, replacing him with a new chief executive and and new chairman, and overhauled the firm's board, according to a filing Monday that offered little explanation for the unexpected changes. New York- based AllianceBernstein, which is 64 percent owned by...