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  • Nov 19- Three Swiss banks will pay a total of more than $81 million to the U.S. Justice Department to avoid possible prosecution for helping Americans to evade taxes, the department said on Thursday. The three banks, the Swiss unit of BNP Paribas SA; KBL Ltd.; and Bank CIC, also agreed to cooperate in any related criminal or civil proceedings, the Justice Department...

  • LONDON, Nov 19- A combination of further monetary stimulus and an improvement in economic growth makes Europe an attractive market for 2016, Baring Asset Management said on Thursday, adding that the euro could bounce if QE subsequently tapers off. Ken Lambden, chief investment officer of Barings, which has some 33.2 billion euros under management, said the...

  • Brent futures were flat at $44.14 a barrel by 11:52 a.m. EST, after hitting a session low of $43.70. U.S. crude's benchmark West Texas Intermediate futures fell 40 cents to $40.35, after hitting an intraday low of $41.05. "The dollar is certainly helping commodities today," said Scott Shelton, energy broker and commodities specialist at ICAP in Durham, North...

  • MILAN/ ROME, Nov 19- Italy's treasury is trying to broker a deal under which specialist funds would take over bad loans from the country's banks, after the EU Commission rejected a plan involving state guarantees, two sources with knowledge of the talks said. Bad loans are expected to peak in 2017-2018 in Italy and experts warn that the price at which distressed...

  • MONTREAL/ TORONTO, Nov 19- Bombardier Inc said on Thursday that Quebec's public pension fund manager is buying a 30 percent stake in its rail arm for $1.5 billion, putting the company on stronger financial footing as it pushes to launch its long-delayed CSeries jet. Last month, the government in Bombardier's home province of Quebec agreed to invest $1 billion in...

  • *Oil pares gains, U.S. crude dips below $40. "The greatest Christmas gift the Fed could give the market is certainty," said Steve Chiavarone, assistant portfolio manager at Federated Investors in New York. "I think the market is ready and comfortable for an increasing fed funds rate," said Alan Rechtschaffen, portfolio manager at UBS Wealth Management Americas in New...

  • *Qualcomm, Target drag on S&P. Nov 18- The S&P 500 hit a session high on Wednesday after minutes from the Federal Reserve October meeting showed a solid core of officials rallied behind a possible December rate hike. "I think the market is ready and comfortable for an increasing Fed funds rate," said Alan Rechtschaffen, portfolio manager at UBS Wealth Management...

  • NEW YORK, Nov 18- Asset management firms are expected to hand out 5 percent less compensation to their traders and fund managers in 2015 from year-ago levels as recent market volatility has hurt investment returns, a report released on Wednesday showed. "This would represent a dramatic shift for an industry that had, until recently, experienced strong asset...

  • LONDON, Nov 18- A British vote in favour of leaving the European Union would be a big shock to financial markets because the possibility is still not taken very seriously outside the UK, a senior Pictet asset manager said on Wednesday. Percival Stanion, head of multi asset at Pictet Asset Management, said: "We have been quite negative on the UK equity market and UK...

  • Nov 18- Any short-term rise in U.S. interest rates won't translate into a tightening cycle and will prove short-lived under pressure from global deflation, according to one of Europe's biggest investors, which also predicts "unlimited" euro zone stimulus. Pascal Blanque, Chief Investment Officer at the 954 billion euro Amundi Asset Management, was alone at last...

  • BYRON TROTT'S BDT CAPITAL PARTNERS TO HIRE INVESTMENT BANKERS IN EUROPE AND SUBMIT REQUEST TO BRITAIN'S FINANCIAL CONDUCT AUTHORITY- SOURCES.

  • A few hedge funds ride shorts to big profits Wednesday, 18 Nov 2015 | 10:58 AM ET

    NEW YORK, Nov 18- A small group of hedge fund managers have beat their struggling peers and the anemic stock market by betting against stocks. John Burbank's Passport Capital, Lee Ainslie's Maverick Capital, Paul Hudson's Glade Brook Capital Partners and Adam Bernstein's Pagoda Asset Management have made bets that individual stocks would fall, known as short...

  • BlackRock closing global macro hedge fund Wednesday, 18 Nov 2015 | 10:12 AM ET

    NEW YORK, Nov 18- BlackRock Inc is shutting down its Global Ascent Fund, a hedge fund, following a trying year for other similar investment strategies, the company said on Wednesday. News emerged in October, for instance, that the Fortress Investment Group would shutter its global macro hedge fund. "We believe that redeeming the Global Ascent Fund was the right thing...

  • "Given the level of complexity in the markets, the thought is that with respect to the operations of those ATSs, there should be more detail about how orders are handled," David Shillman, associate director of the Trading& Markets unit at the U.S. Securities and Exchange Commission, said on Tuesday. The SEC will revisit the rules and may require standardized...

  • SAO PAULO, Nov 17- Patrick O'Grady has left as chief executive officer of XP Gestão de Recursos, the asset management unit of Brazilian securities firm XP Investimentos, following disagreements over strategy, two sources with direct knowledge of the matter said on Tuesday. The departure of O'Grady, who had been at the helm of XP Gestão since 2012, was announced...

  • LONDON, Nov 17- Emerging markets could see an inflow of investors' money next year, with equities in line for double-digit returns, rebounding after five years of underperformance, Aberdeen Asset Management said on Tuesday. Anne Richards, chief investment officer of the group which has more than $480 billion under management, said time and valuation gaps had...

  • STOCKHOLM, Nov 17- Swedish telecoms network gear maker Ericsson raised its forecast for mobile data traffic, in a further boost to companies that benefit from rising numbers of consumers viewing online videos on platforms such as YouTube and Netflix. Inge Heydorn, fund manager at Sentat Asset Management, which invests in telecom and IT shares globally, said...

  • Thanks, but no thanks: Investment banks cull clients Tuesday, 17 Nov 2015 | 9:49 AM ET

    *Investment banks find many clients not profitable. LONDON, Nov 17- Bank customers. "A major challenge is finding a way to reprice or find a cheaper operating model for a long tail of smaller clients," said Roger Rudisuli, a partner in McKinsey's corporate and investment banking practice in New York.

  • AMSTERDAM, Nov 17- PFZW, a Dutch pension fund with 161 billion euros of assets under management, said on Tuesday it will sell down investments in companies with relatively high carbon dioxide emissions. PFZW is the latest high-profile investor to cut exposure to fossil fuel-linked investments this year. Maurice Wilbrink, a spokesperson for PGGM, which manages...

  • China to expand Singapore RQFII quota to 100 bln yuan Monday, 16 Nov 2015 | 10:41 PM ET

    BEIJING, Nov 17- China will expand Singapore's Renminbi Qualified Foreign Institutional Investor quota to 100 billion yuan, China's central bank said in a statement posted on its website on Tuesday.