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Capital Markets Asset Management and Custody Banks

  • A pedestrian passes in front of the Pfizer headquarters in New York City.

    Britain's competition watchdog has fined Pfizer a record 84.2 million pounds ($107 million) for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent.

  • LONDON, Dec 7- Britain's competition watchdog has fined Pfizer a record 84.2 million pounds for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent. U.S. drugmaker Turing Pharmaceuticals, led at the time by hedge fund manager Martin Shkreli, caused outrage last year by raising the U.S. price of Daraprim, an old anti-infective drug, by more...

  • *Cuts profit targets for Asia-Pacific, wealth management. ZURICH, Dec 7- Credit Suisse pledged to cut another 1 billion Swiss francs in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money. In a statement ahead of its investor day, Credit Suisse lowered its operating cost base target for 2018 to below 17...

  • SHANGHAI, Dec 7- China stocks snapped a three-day streak of losses on Wednesday, helped by a rally in resources shares. Industry-leading blue-chips were still trading near recent lows after China's securities regulator warned about "barbaric" takeover deals by asset managers using illegal funds. China has selected 21 investment management institutions for...

  • BEIJING, Dec 7- China has selected 21 investment management institutions for its pension insurance fund, bringing it one step closer to investing up to $290 billion in its financial markets. The investment management institutions include some of the country's biggest asset managers, insurers and investment banks, such as China Asset Management Co., Ping An...

  • BOSTON, Dec 6- Hedge fund manager Mick McGuire is taking his fight for change at casual restaurant chain Buffalo Wild Wings Inc directly to franchise owners, saying they could have better access to innovations and grow more if his ideas were implemented. The company's shares, down 0.5 percent at $169.95 in late afternoon trading on Tuesday, have risen 15 percent...

  • BOSTON, Dec 6- Hedge fund manager Mick McGuire is taking his fight for change at casual restaurant chain Buffalo Wild Wings Inc directly to franchise owners, saying they could have better access to innovations and grow more if his ideas were implemented. The company's shares, down 0.5 percent at $169.95 in late afternoon trading on Tuesday, have risen 15 percent...

  • BOSTON, Dec 6- Massachusetts, already a large investor in some of the world's biggest hedge funds, wants to hire an adviser to help find smaller managers that could improve the $63.2 billion state pension fund's risk and return profile. The Pension Reserves Investment Management Board on Tuesday voted to issue a request for proposals for advisers to assist in...

  • MOSCOW, Dec 2- Hackers stole more than 2 billion roubles from correspondent accounts at the Russian central bank and from accounts in commercial banks, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe. Central bank official Artyom Sychyov discussed the losses at a briefing, saying that the...

  • NEW YORK, Dec 6- One of the world's most prominent investors, Bill Gross, predicted an end to the post-election stock rally, saying that Donald Trump's anti-globalization policies would restrict trade and reduce corporate profits over the long term. Gross, who oversees the $1.7 billion Janus Global Unconstrained Bond Fund, added that investors should brace for...

  • BOSTON, Dec 5- For hedge fund manager Sahm Adrangi, 2016 is the year that can not end quickly enough. Adrangi's New York- based Kerrisdale Capital Management now oversees roughly $170 million, far less than the roughly $350 million he managed over the summer. He was also charged with criminal possession of a controlled substance, which was cocaine, East Hampton...

  • BOSTON, Dec 5- Former hedge fund executive JP Miller launched an app on Monday for his startup news site Empire Report that is modeled on the Drudge Report and chronicles New York, its politicians, financiers and celebrities. There are other websites in Colorado, Connecticut and Pennsylvania that also look like the Drudge Report. The timing for Miller's site and...

  • President Donald Trump could set up an entity similar to Canada's infrastructure bank to help fund his plans to spend $1 trillion on roads and bridges, one of the world's biggest infrastructure investors said. Michael Sabia, chief executive officer of the Caisse, Canada's second-biggest public pension fund, was on the advisory panel that recommended Canada...

  • The pound briefly hit its strongest since early October against the dollar in early London trade, extending one of the currency market's best runs over the past month. Nick D'Onofrio, chief executive with London- based hedge fund North Asset Management, said that Britain's huge current account deficit argued for substantial falls in the pound.

  • TOKYO, Dec 5- The dollar's rally since the U.S. election is likely to run out of steam soon and the damage from its strength in the past month could be enough to put the world's largest economy into a recession, an investment chief at Saxo Bank said on Monday. The dollar has rallied on expectations that President-elect Donald Trump will increase fiscal spending and...

  • LONDON, Dec 5- Royal Bank of Scotland said on Monday that it had settled legal claims with the majority of shareholders who had alleged they were misled when they took part in the bank's 2008 12 billion pound rights issue. More than 35,000 shareholders who took part in the cash call, including some of Britain's biggest institutional investors and public pension...

  • *Foreign investors bought 1.2 trln yen of Japan stocks in 3 weeks. "The biggest beneficiary of this election is the Japanese market," said Jonathan Steinberg, chief executive officer of U.S. asset manager WisdomTree, which manages $38 billion, of which $8 billion is invested in Japan. "The world outside of Japan is understanding that they need to buy Japan, with the...

  • *Foreign investors bought 1.2 trln yen of Japan stocks in 3 weeks. "The biggest beneficiary of this election is the Japanese market," said Jonathan Steinberg, chief executive officer of U.S. asset manager WisdomTree, which manages $38 billion, of which $8 billion is invested in Japan. "The world outside of Japan is understanding that they need to buy Japan, with the...

  • *Hintze hails new chapter for industry. LONDON, Dec 2- Staff numbers at CQS, the hedge fund run by billionaire investor Michael Hintze, have fallen sharply, with the Australian saying rivals must adapt to a rapidly changing industry. After a tough 2015, all the main funds of CQS, which manages $12 billion, are now in the black.

  • *China moves aggressively to plug capital outflows. SINGAPORE/ NEW YORK, Dec 5- China's increasingly aggressive measures to clampdown on capital outflows will not have gone unnoticed by U.S. hedge-fund manager Kyle Bass. "China's capital outflows are worse than they appear, which is why the government has allowed the RMB to depreciate over the last two months,"...