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Diversified Financials Capital Markets

  • LONDON, Feb 23- Most European investment bankers received smaller bonuses in 2016 as their employers cut costs and sought to meet shareholder demands for a greater share of profits. But while bankers' pay has been the target of political and public anger, the financial services industry is still where the big bucks are, with the average salary about 30 percent...

  • NEW YORK, Feb 23- Interdealer broker NEX Group Plc, formerly known as Icap, has invested in a RSRCHXchange, a London- based startup that runs an online marketplace for research on stocks, as regulatory changes in Europe and pressure on asset management fees spur innovation in the equity research sector. The company will use the injection of cash develop the...

  • SHANGHAI, Feb 23- China's main stock indexes snapped a three-session winning streak to end lower on Thursday, as expectations of new asset management rules and property taxes weighed on the market. China's central bank and other financial regulatory bodies are creating a universal framework for the oversight of the asset management industry, Chen Wenhui, the...

  • PARIS, Feb 23- AXA, France's biggest insurer, posted a 4 percent increase in 2016 net income, as stronger earnings from property insurance coverage and a recovery in its life and savings business helped to offset weakness in asset management. Net income rose to 5.83 billion euros in 2016, compared with 5.62 billion in the same period last year, AXA said on Thursday.

  • SHANGHAI, Feb 23- China stocks slid from 2-1/ 2 month highs on Thursday morning, with sentiment dampened after regulators circulated a draft plan of new rules for the asset management industry aimed a curbing financial risks. China's blue-chip CSI300 index fell 0.5 percent, to 3,472.43 at the end of the morning session, while the Shanghai Composite Index lost 0.4...

  • LONDON/ BOSTON, Feb 21- Stock market optimism about U.S. The level of shorts- a bet that a stock will fall- taken out against the Dow Jones Industrial Average jumped 13 percent in the 30 days to Feb. 20, while shorts against Europe's STOXX 600 rose 18 percent over the same period, data from FIS' Astec Analytics showed. But hedge fund managers like Seth Klarman, who has been...

  • LONDON/ BOSTON, Feb 21- Stock market optimism about U.S. The level of shorts- a bet that a stock will fall- taken out against the Dow Jones Industrial Average jumped 13 percent in the 30 days to Feb. 20, while shorts against Europe's STOXX 600 rose 18 percent over the same period, data from FIS' Astec Analytics showed. But hedge fund managers like Seth Klarman, who has been...

  • LONDON/ BOSTON, Feb 21- Stock market optimism about U.S. The level of shorts- a bet that a stock will fall- taken out against the Dow Jones Industrial Average jumped 13 percent in the 30 days to Feb. 20, while shorts against Europe's STOXX 600 rose 18 percent over the same period, data from FIS' Astec Analytics showed. But hedge fund managers like Seth Klarman, who has been...

  • LONDON/ BOSTON, Feb 21- Stock market optimism about U.S. The level of shorts- a bet that a stock will fall- taken out against the Dow Jones Industrial Average jumped 13 percent in the 30 days to Feb. 20, while shorts against Europe's STOXX 600 rose 18 percent over the same period, data from FIS' Astec Analytics showed. But hedge fund managers like Seth Klarman, who has been...

  • *Listing of Aramco could raise up to $100 billion. The U.S. banks have joined boutique investment bank Moelis& Co in being tapped for coveted roles in what is expected to be the world's biggest intial public offering worth some $100 billion. Up to 5 percent of the world's largest oil producer is likely to be listed on both the Saudi stock exchange in Riyadh and on one...

  • SHANGHAI, Feb 22- China's financial regulators have circulated a draft framework of new rules aimed at curbing risks in the country's booming asset management industry, according to several Chinese news outlets and details of the draft seen by Reuters. The rules, formulated by the central bank in conjunction with China's securities, banking and insurance...

  • *Listing of Aramco could raise up to $100 billion. Feb 21- Oil company Saudi Aramco has selected JPMorgan Chase& Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters for its planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. Saudi authorities are aiming to list up to 5 percent of the...

  • Feb 21- Oil company Saudi Aramco has selected JPMorgan Chase& Co, Morgan Stanley, and HSBC Holdings Plc as lead underwriters on the firm's planned initial public share offering, the Wall Street Journal reported on Tuesday, citing people familiar with the matter. The listing of Aramco is expected to be the world's biggest initial public offering and could raise up...

  • Feb 21- Tribune Media Co, one of the largest U.S. television station operators, said on Tuesday that activist investor Starboard Value LP had taken a 6.6 percent stake in the company. Tribune's shares were up nearly 2.5 percent at $34.54 in trading after the bell. Tribune had hired investment banks Moelis& Co and Guggenheim Securities as financial advisers early...

  • Tuesday's decision was a setback for hedge fund Perry Capital and other investors that sought to challenge the lower court's dismissal of lawsuits arguing the government's confiscation of profits was illegal. Major owners of the companies' preferred stock include Bruce Berkowitz's Fairholme Funds Inc, while William Ackman's Pershing Square Capital...

  • In early afternoon trading, Fannie Mae shares were down 26 percent at $3.06, while Freddie Mac fell 29 percent to $2.84. By a 2-1 vote, the U.S. Circuit Court of Appeals for the District of Columbia said a lower court had correctly barred claims that the government overstepped its authority in 2012 by eliminating dividend payouts to various shareholders and...

  • NEW YORK, Feb 21- Embattled U.S. currency broker FXCM Inc said on Tuesday it has changed its company name to Global Brokerage Inc, two weeks after it had been ordered by the Commodities Futures Trading Commission to cease operations in the United States for fraud. Niv also resigned as director of FXCM Group. The commission also ordered Forex Capital Markets, its...

  • LONDON, Feb 21- Institutional investors pulled $468.8 billion out of equities in 2016, a report by the research firm eVestment showed on Tuesday, notwithstanding a rally late in the year that drove stock markets to record highs. The fourth-quarter selling was broad-based, with client accounts domiciled in the United States, Europe, Britain, Canada, Africa, the...

  • Feb 21- Luxury jewelry retailer Tiffany& Co said it would appoint three independent directors to its board in a deal with activist investor Jana Partners LLC. The company said it would add Roger Farah, a former co-chief executive of handbag maker Tory Burch, and James Lillie, a former CEO of Jarden Corp, to its board. Francesco Trapani, who owns an about 5.1 percent...

  • PARIS, Feb 21- France's second-biggest retail bank BPCE announced plans on Tuesday to trim and reorganise its branch network and invest in online banking, as it targets annual cost savings of 1 billion euros by 2020.. The plan to merge and simplify the organizational structure of its regional banks would result in 750 million euros of "cost savings in a full year...