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Diversified Financials Capital Markets

  • May 5- Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, endangering London's status as a major financial center. Financial services firms need a regulated subsidiary in an EU country to offer their products across the bloc, and this could lead...

  • SAN FRANCISCO, May 12- A widespread view on Wall Street this week was that Snap Inc fell short of revenue forecasts when it posted its first quarterly results as a public company, triggering a big selloff in its shares. Analysts affiliated with 10 underwriters forecast on average that revenue would hit $138.4 million, $30 million below the estimate of the...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • BOSTON, May 12- BlackRock Inc said on Friday that it voted in favor of a successful shareholder proposal calling for more climate change reporting by Occidental Petroleum Corp, in the first sign the world's largest asset manager was backing up its tough new talk on environmental matters. "Todays historic vote puts the oil and gas industry on notice the climate is...

  • BOSTON, May 12- Hedge fund Passport Capital, which once grabbed headlines with triple digit returns, has been hit with fresh losses and its assets continue to shrink, the firm's founder told investors in a letter seen by Reuters on Friday. Assets at the San Francisco- based firm contracted to $2 billion at the end of April, half of what it had managed only a few years...

  • BOSTON, May 12- Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business, helping it to pass. An Occidental spokesman said via e-mail the shareholder resolution passed at the company's annual meeting, held in Houston,...

  • May 12- Music streaming service Spotify will carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, a source familiar with the situation said on Friday. The move is a major test of the process of direct listing, which eliminates the need for a Wall Street bank or broker to underwrite an initial public offering...

  • Snapchat co-founders Bobby Murphy (CTO) and Evan Spiegel (CEO) ring the opening bell on March 2, 2017, at the NYSE in New York City as NYSE president Thomas Farley looks on.

    The IPO market has heated up, and despite Snap's dismal run since going public, tech deals don't appear to be slowing.

  • *Pimco achieves net inflows of 21 bln euros. FRANKFURT, May 12- German insurance group Allianz on Friday reported rising investment inflows at bond fund manager Pimco and stuck to its operating profit target for 2017.. Pimco had experienced several years of cash withdrawals in some of its main funds, including its flagship Pimco Total Return Fund.

  • LONDON, May 11- Barclays reshuffled its senior global investment bank management on Thursday and is seeking to hire between 50 to 100 people to boost the division under new chief Tim Throsby, according to sources with direct knowledge of the plans. Throsby will become interim head of the bank's markets division while Joe Corcoran, who previously held the role,...

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. The investment plans include the...

  • May 11- Dow Chemical Co, which is merging with DuPont, said Chief Executive Andrew Liveris would retire as chairman of the combined DowDuPont company in July 2018. Liveris said in February 2016 he would retire by mid-2017, following a prolonged battle with hedge fund manager Daniel Loeb, who had been questioning his leadership. Dow also said on Thursday it would...

  • MILAN, May 11- Generali is looking to buy portfolio management teams to expand its asset management operations and beef up its fee-based business, the Italian group said after reporting a 9 percent fall in first-quarter profits on Thursday. Italy's biggest insurer said it aimed to boost group net profit by 150 million euros by the end of 2020 and expand assets...

  • DUBAI, May 11- JPMorgan will increase the number of bankers it has in Saudi Arabia to around 80 by the end of the year to capitalise on the increase in equity market activity and mergers and acquisitions in the kingdom, a senior executive said. Saudi Arabia has unveiled about $200 billion of privatisation of state-owned companies over the next few years, selling...

  • PARIS, May 11- French bank Credit Agricole reported a near fourfold increase in first-quarter profit, as it moved on from a complex revamp of shareholding ties with its parent group and benefited from a surge in trading activity. Credit Agricole, whose asset management arm Amundi is buying rival Pioneer Investments from Unicredit for 3.6 billion euros, said net...

  • SAO PAULO, May 10- Brokerage firm XP Investimentos SA, which is discussing a minority stake sale to Brazil's largest bank, is filing for an initial public offering that could be the first listing of an independent broker in Latin America's largest economy. Founder and Chief Executive Officer Guilherme Benchimol, 238 XP partners and U.S. buyout firm General...

  • WASHINGTON, May 10- Barclays PLC will pay more than $97 million to settle civil charges that it overbilled its asset management business clients for tens of millions of dollars, U.S. regulators said on Wednesday. All told, the SEC said that Barclays overbilled customers by about $50 million. Another 63 brokerage clients paid excess mutual fund sales charges...

  • PARIS, May 10- AXA Chief Executive Thomas Buberl plans to overhaul the group's U.S. operations, proposing to float its American life insurance and asset management businesses in 2018 in order to free up capital and pursue takeover targets elsewhere. In the past investors have questioned whether AXA needs to retain two separate asset managers- AXA IM which is...

  • PARIS, May 10- AXA Chief Executive Thomas Buberl plans to overhaul the group's U.S. operations, proposing to float its American life insurance and asset management businesses in the first half of 2018 in order to free up capital. The move could allay some investors' concerns about whether it is necessary for AXA to retain two separate asset managers- AXA IM which is...