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Diversified Financials Capital Markets

  • SAO PAULO, April 4- Morgan Stanley and Banco Bradesco BBI SA topped Brazil's mergers and acquisitions rankings in the first quarter, buoyed by advisory roles in the $21 billion corporate reorganization of Vale SA, the world's No.1 iron ore producer. New York- based Morgan Stanley and Bradesco BBI, the investment-banking arm of Brazil's No. 3 listed lender Banco...

  • TOKYO, April 4- Japan's Nikkei share average fell on Tuesday as the safe-haven yen rose and as automakers tumbled on weaker-than-expected U.S. sales. Treasury notes overnight fell to the lowest level since Feb. 27. "Stock investors are becoming nervous about U.S. yields," said Isao Kubo, equity strategist at Nissay Asset Management, adding that markets are focused...

  • LONDON, April 3- Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds net position in Brent and WTI has been cut to 642 million barrels, down from a record 951 million barrels on Feb. 21. The result is that the ratio of long to short positions in Brent and WTI...

  • DETROIT, April 3- General Motors Co on Monday outlined in a regulatory filing contacts with billionaire hedge fund manager David Einhorn who went public last week with a plan to boost GM's value and announced its slate of board nominees, all of whom currently serve on the board. Einhorn, who runs hedge fund Greenlight Capital, has proposed that GM create two...

  • LONDON, April 3- Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds net position in Brent and WTI has been cut to 642 million barrels, down from a record 951 million barrels on Feb. 21. The result is that the ratio of long to short positions in Brent and WTI...

  • DUBAI, April 3- The head of corporate and investment banking at Dubai's Mashreq is leaving to become chief executive of Noor Bank, sources familiar with the matter told Reuters on Monday. Mashreq, Dubai's third-biggest bank by assets, said John Iossifidis was leaving to pursue other opportunities, adding he had made a significant contribution to the bank's...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • NEW YORK, March 31- Third Avenue Management and its founder Martin Whitman have reached a $14.25 million settlement of a lawsuit by investors who accused the well-known value investment firm of mismanaging a junk bond mutual fund that collapsed in December 2015. The preliminary all-cash settlement was filed on Friday with the U.S. District Court in Manhattan,...

  • ZURICH, March 31- Credit Suisse is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday. "The investigation will be executed by compliance, it will not be executed by the business," Iqbal Khan, who is...

  • NEW YORK/ BOSTON, March 31- BlackRock Inc's decision to revamp part of its stock-picking business puts further pressure on active U.S. equity managers to cut fees, change products and merge to stem a relentless, 12- year decline in assets. The moves affect about 11 percent of its $275 billion active stock fund business but are a drop in the ocean for the company, the...

  • TORONTO, March 31- Victor Li, co-chairman of Husky Energy Inc and son of one of Asia's richest men, has agreed to acquire Reliance Home Comfort, a Canadian provider of heating and cooling systems, from U.S. investment firm Alinda Capital Partners for C $2.8 billion, Reliance said on Friday. Li's acquisition comes through his CKP Canada vehicle, a unit of Hong Kong...

  • JOHANNESBURG, March 31- Brian Joffe, the founder of South Africa's Bidvest, will list a 2 billion rand investment firm, Long4Life, on the Johannesburg Securities Exchange next week, the firm said in a pre-listing statement on Friday. Joffe will provide 100 million rand of the capital himself and institutional investors will subscribe for the rest before listing...

  • LONDON, March 31- Frontier equity indexes are about to lose two of their biggest and most liquid markets, Pakistan and Argentina, a change that may deepen disenchantment with an asset class where investment flows have stagnated in recent years. If the main index serving these markets loses Pakistan, Argentina and Nigeria, funds could be left with far fewer...

  • "UK M&A activity has started strongly in 2017... foreign exchange made UK companies cheaper, and there is an overarching desire for growth, which is not easy for companies to deliver organically," said Jan Skarbek, head of UK investment banking at Citi. "In this environment, we are likely to continue to see combinations that make strategic sense and enable companies to...

  • NEW YORK, March 30- Hedge fund manager David Einhorn's unusual plan to divide General Motors Co's shares into two classes poses a potential corporate governance minefield for GM board members. Einhorn, who runs New York- based Greenlight Capital, has pledged to fight for it at the company's annual meeting and plans to nominate a slate of directors ready to...

  • BOSTON, March 29- Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc, telling them he was "deeply and profoundly sorry" for losing so much of their money on the investment. Ackman decided to sell his entire Valeant position earlier this month, suffering a roughly $4 billion loss...

  • NEW YORK, March 29- Wall Street has tempered its expectations for sweeping U.S. tax cuts in the wake of President Donald Trump's stinging healthcare defeat, a move that could push investors to embrace cheaper global stocks after the heady U.S. rally of recent months. The White House turned its attention to an overhaul of the tax code after Republicans were forced...