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Diversified Financials Capital Markets

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  • Investors still in the dark as cyber threat grows Friday, 28 Aug 2015 | 9:29 AM ET

    LONDON/ BOSTON, Aug 28- Investors are being poorly served by a haphazard approach from fund managers to the growing threat of cyber crime damaging the companies in which they invest, with a lack of clarity from the businesses themselves compounding the problem. "I don't see any visible stand asset managers are taking, like they do on other social responsibility...

  • NEW YORK, Aug 28- Charles Schwab Corp.' s online trading platforms are "temporarily unavailable," a spokesman for the brokerage firm said Friday morning. The spokesman did not elaborate on the cause of the problem. Earlier in the week, discount brokers Scottrade Inc and TD Ameritrade reported some order processing issues.

  • US STOCKS-Futures fall after two-day market rally Friday, 28 Aug 2015 | 7:39 AM ET

    *Wall Street logged its biggest two-day gain since the financial crisis on Thursday on strong U.S. economic data and hints that a September interest-rate hike was unlikely. *Chinese stocks jumped more than 4 percent for the second day as authorities announced that pension funds managed by China's local governments will start investing 2 trillion yuan as soon...

  • BEIJING, Aug 28- China's local pension funds will start investing 2 trillion yuan as soon as possible in stocks and other assets, senior government officials said on Friday, in a bid to boost the investment returns of such funds. China said last weekend that it would let pension funds under local government units to invest in the stock market for the first time, a...

  • The carnage of the last week- even with Wednesday's and Thursday's rebound- has been particularly acute for investors who have seen their overweight positions in companies such as social media site Facebook, pharmaceutical company Valeant, internet retailer Netflix, carmaker Tesla Motors and renewable energy company SunEdison get pummeled in the last...

  • NEW YORK, Aug 28- The nearly two-month-long slide in oil prices to 6-1/ 2 year-lows has been a boon to many so-called systematic funds, which trade based on technical signals or computer algorithms rather than fundamentals. While most market commentary has focused on the persistent glut in the global market caused by unrelenting OPEC output and surprisingly...

  • BEIJING, Aug 28- China's local pensions funds will start investing 2 trillion yuan as soon as possible in stocks and other assets, Vice Minister of Human Resources and Social Security You Jun said on Friday. China said last weekend that it would allow pension funds to invest in the stock market for the first time, a move that could potentially channel hundreds of...

  • Some of the largest U.S. fund managers rely on BNY Mellon to calculate the net asset value of their funds but a failed software upgrade last weekend buckled the system just as investors headed into a tumultuous week of trading sparked by fears about the Chinese economy. "BNY Mellon is the plumber to mutual funds and capital markets," said Mike Mayo, a banking analyst...

  • TORONTO, Aug 27- Canadian Imperial Bank of Commerce reported a higher third-quarter profit that topped market estimates on Thursday, helped by growth in its retail and wealth management businesses, and raised its quarterly dividend. Gross impaired loans in its oil-and-gas portfolio increased 36 percent to C $34 million, from C $25 million in the second...

  • CIBC profit tops estimates, dividend raised Thursday, 27 Aug 2015 | 6:34 AM ET

    TORONTO, Aug 27- Canadian Imperial Bank of Commerce reported a higher third-quarter profit that topped market estimates on Thursday, helped by growth in its retail and wealth management businesses. Net income in the quarter ended July 31 was C $978 million, or C $2.42 cents per share, compared with C $921 million, or C $2.26 per share, a year ago.

  • SAFT ON WEALTH-Are hedge funds just pricey and passive? Wednesday, 26 Aug 2015 | 5:11 PM ET

    Aug 26- Investors in hedge funds are likely to be paying for a product more like an index fund than a skill-driven market beater. So finds a new study by Mikhail Tupitsyn and Paul Lajbcygier of Monash University in Australia, who looked at the evidence of 5,580 hedge funds, about half active and half now closed, between 1994 and 2010.. "The question at the heart of this...

  • BOSTON/ NEW YORK, Aug 25- Just after the Dow Jones Industrial Average plunged over 1,000 points on Monday morning, New York- based hedge fund manager Sahm Adrangi sent around his weekly note showing his fund lost 2 percent so far in August. Adrangi, whose $350 million Kerrisdale Capital is still up 10 percent so far this year, stands with several other well-known...

  • TORONTO, Aug 25- Bank of Montreal on Tuesday reported that bad oil-and-gas loans increased sharply in the third quarter but profit topped market expectations on growth in its wealth management unit and personal and commercial banking. BMO's gross impaired loans from the oil-and-gas sector jumped fourfold to C $106 million in the quarter from C $26 million in...

  • WARSAW, Aug 25- Poland will join the Chinese-led Asian Infrastructure Investment Bank to boost its ties to Asia and create new business opportunities for Polish companies, the government said on Tuesday. The AIIB is seen as a potential rival to the World Bank and Asian Development Bank. Despite initial opposition from Washington, almost all major U.S. allies-...

  • BOSTON/ NEW YORK, Aug 25- Just after the Dow Jones Industrial Average plunged over 1,000 points on Monday morning, New York- based hedge fund manager Sahm Adrangi sent around his weekly note showing his fund lost 2 percent so far in August. Adrangi, whose $350 million Kerrisdale Capital is still up 10 percent so far this year, stands with several other well-known...

  • Aug 24- Mac Sykes, an analyst at asset management firm Gabelli& Co, spent Sunday evening, the second night of his summer vacation in New England, watching stock prices tank. While his wife and three kids spent Monday at the beach, Sykes was busy on calls, doing research and watching markets from Shanghai to New York dive. "Everybody was in the game today no matter where...

  • NEW YORK, Aug 24- The U.S. Patent and Trademark Office on Monday rejected an attempt by prominent hedge fund manager Kyle Bass to challenge two patents on Acorda Therapeutics Inc's flagship multiple sclerosis drug, Ampyra. Bass, founder of Dallas- based Hayman Capital Management, has said big companies were improperly extending patent protection in...

  • Aug 24- A Charles Schwab Corp unit has agreed to a $2 million civil fine for failing to keep sufficient cash on hand to meet capital requirements on three separate days last year, Wall Street's industry-funded watchdog said on Monday. The regulator also censured the brokerage unit, Charles Schwab& Co., Inc.. The capital deficiencies took place between May 15 and...

  • NEW YORK, Aug 24- DoubleLine Capital co-founder Jeffrey Gundlach, widely followed for his investment calls, warned on Monday that the U.S. equity markets face another round of selling pressure. Gundlach, who runs Los Angeles- based DoubleLine Capital, which had $76 billion in assets under management as of June 30, said China's currency devaluation "was kind of the...

  • Aug 24- BlackRock Inc's chief investment officer of fundamental fixed income, Rick Rieder, believes the window for the U.S. Rieder, who manages BlackRock's unconstrained bond fund, the $31 billion Strategic Income Opportunities Fund, has predicted the Fed would start raising rates in September. BlackRock, the world's largest asset manager with $4.7 trillion...