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  • District Judge Jed Rakoff in Manhattan certified two classes of plaintiffs, saying their claims are similar enough to be pursued as groups. One class bought various Petrobras securities from January 2010 to July 2015 and will be led by Germany's Union Asset Management Holdings AG. The other bought debt securities from offerings in 2013 and 2014, and will be...

  • Feb 2- Financial advisory and asset manager Lazard Ltd's results easily beat lowered Wall Street estimates in a quarter battered by volatile market conditions. Global markets were racked in the past few months by fears of an economic slowdown in China and more recently by a steep slump in crude oil prices. Asset management revenue fell 8 percent to $260.6...

  • BOSTON, Feb 2- Executives at U.S. asset manager Affiliated Managers Group Inc on Tuesday sought to downplay the impact of the recent collapse of one its junk bond funds, but jittery investors continued to unload the company's stock. The withdrawals accelerated after the Third Avenue Focused Credit Fund collapsed in early December. AMG executives don't see any...

  • Think long term - Larry Fink's message to CEOs Tuesday, 2 Feb 2016 | 9:31 AM ET

    Feb 2- BlackRock Inc's Larry Fink wants chief executives of top U.S. companies to focus on creating long-term value instead of emphasizing quarterly targets. Fink, who heads the world's largest investment management firm, said companies should still report quarterly results and "long-termism" should not be a substitute for transparency.

  • Lazard profit falls 28 pct Tuesday, 2 Feb 2016 | 6:58 AM ET

    Feb 2- Financial advisory and asset manager Lazard Ltd reported a 28 percent decline in fourth-quarter profit as operating revenue fell. The company's adjusted net profit fell to $122.9 million, or 92 cents per share, in the quarter ended Dec. 31 from $172.4 million, or 1.29 cents per share, a year earlier. Lazard's operating revenue fell 7.4 percent to $598.3...

  • *2015 profit up 79 pct to 6.20 billion Swiss francs. ZURICH, Feb 2- UBS reported a surprise outflow of funds from its flagship wealth management business on Tuesday, overshadowing its best annual results since 2010 and a higher than expected dividend payout. The Swiss bank's shares fell 8 percent to hit their lowest in almost a year after it reported a...

  • The Zurich- based bank, which nevertheless booked higher fourth quarter profits, cited "very low levels of client activity and pronounced risk aversion" as it reported 3.4 billion Swiss francs had flowed out of its wealth management arm, which handles money from rich people outside the U.S. Fourth-quarter outflows from clients in emerging markets and in Europe...

  • *2015 profit up 79 pct to 6.20 billion Swiss francs. The Swiss bank's shares were indicated down 2 percent in pre-market trade after it reported a fourth-quarter net new money outflow of 3.4 billion Swiss francs at its wealth management arm, as an exodus from emerging markets and Europe offset inflows from Asia and Switzerland. Net profit at Switzerland's...

  • SAO PAULO, Feb 1- Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because the Canadian firm was not given full management control of the company, two sources with direct knowledge of the situation said on Monday. Brookfield failed to reach an agreement with...

  • SAO PAULO, Feb 1- Brookfield Asset Management Inc has withdrawn an offer to buy the 24.4 percent stake in infrastructure company Invepar held by Brazil's Grupo OAS SA because Brookfield would not have full management control of the company, two sources with direct knowledge of the situation said on Monday. Brookfield failed to reach an agreement with OAS's...

  • US STOCKS-Wall St edges higher in late trading Monday, 1 Feb 2016 | 3:38 PM ET

    Internet giant Alphabet, which reports results after the close, was up 1.5 percent at $772.98. Toymaker Mattel, down 2.3 percent at $26.94, is also due to report after the close. "If you see strength in the last hour, that's very bullish," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.

  • Feb 1- Activist hedge fund Hudson Executive Capital LP wants CIT Group Inc to break up, the Wall Street Journal reported, citing people familiar with the matter. The hedge fund, which disclosed a 0.5 percent stake in CIT, thinks the best strategy for the commercial lender would be to sell off its various pieces given its recent underperformance, the Journal said.

  • RCS Capital listed total assets of $2 billion and debts of $1 billion in its Chapter 11 filing in Delaware, court documents showed on Monday. Under the restructuring plan, lenders will inject $150 million into broker-dealer Cetera and ties to Schorsch will be cut by eliminating common shares and some $500 million in preferred stock, court documents showed.

  • NEW YORK/ BUENOS AIRES, Feb 1- Argentina's government returned to debt talks in New York on Monday, expecting to make an offer this week to U.S. creditors suing over unpaid bonds hoping to resolve a decade-long stand-off that has locked the country out of global capital markets. Newly elected President Mauricio Macri told Reuters at the World Economic Forum in...

  • PARIS, Feb 1- BNP Paribas, France's largest bank, plans to simplify the legal structure of its wealth management operations within the group in some of its branches in France and Asia, according to a statement by the FO banking trade union. Under the wealth management project, BNP plans to fold the legal entity BNP Paribas Wealth Management SA, which stands for a...

  • NEW YORK/ BUENOS AIRES, Feb 1- Argentina's government returned to debt talks in New York on Monday, expecting to make an offer this week to U.S. creditors suing over unpaid bonds in a bid to resolve a decade-long stand-off that has locked the country out of global capital markets. Newly elected President Mauricio Macri told Reuters at the World Economic Forum in...

  • BEIJING, Feb 1- China's foreign exchange regulator said it has not asked institutions to defer the launch of new products under the Qualified Domestic Institutional Investor program, according to a post on its official microblog on Monday. The statement follows a report by financial magazine Caixin on Saturday that quoted unidentified sources from fund...

  • BEIJING, Feb 1- China's foreign exchange regulator said it has not asked institutions to defer the launch of new products under the Qualified Domestic Institutional Investor program, according to a post on its official microblog on Monday.

  • TOKYO, Feb 1- Japanese asset management firms have stopped accepting new money for their money market funds and other short-term debt funds after the central bank's adoption of negative interest rates made it difficult for funds to achieve positive returns. Major Japanese asset managers, including Mitsubishi UFJ Kokusai Asset Management, Mitsui Sumitomo...

  • ZURICH, Feb 1- Swiss private bank Julius Baer is again looking for acquisitions now that a final settlement of U.S. allegations that it helped rich Americans dodge tax is within reach. Excluding the tax case, Julius Baer reported on Monday that underlying net profit rose by a fifth to 701 million Swiss francs, lagging the 729 million average in a Reuters poll.