Diversified Financials Capital Markets

  • ZURICH, Dec 2- Actelion's silence speaks volumes to the dozens of event-driven hedge funds piling into the Swiss biotech firm, betting that Johnson& Johnson's approach will result in an outright takeover and handsome returns. A source familiar with the matter has told Reuters the two companies are discussing a bid of close to $27 billion, or 250 Swiss francs per...

  • *Hintze hails new chapter for industry. LONDON, Dec 2- Staff numbers at CQS, the hedge fund run by billionaire investor Michael Hintze, have fallen sharply, with the Australian saying rivals must adapt to a rapidly changing industry. After a tough 2015, all the main funds of CQS, which manages $12 billion, are now in the black.

  • NEW YORK, Dec 1- Highland Capital Management LP on Thursday asked a New York state judge to order the operator of Dealbreaker.com to disclose information that could help it identify whoever posted a comment that the hedge fund firm considered "defamatory." According to a public court filing, a person using the pseudonym "Low" land Realist on Nov. 2 posted a comment on...

  • The SEC said Pimco overstated the ETF's value and provided "misleading" reasons for the fund's early success, which was premised on buying small pieces or "odd lots" of mortgaged-backed securities that sell at a discount to larger units. The asset manager used a third-party pricing service that valued the bonds as though they were larger pieces, overstating its...

  • Dec 1- The U.S. Commodity Futures Trading Commission failed to verify whether futures and swaps brokerage firms have adequate policies to help ward off cyber attacks, an internal CFTC audit found. The audit was completed in October by Brown& Company CPAS and Management Consultants PLLC at the request of the CFTC's inspector general. Auditors took issue with the...

  • *Britain and France to remain separate from Frankfurt bank. ZURICH, Dec 1- Swiss bank UBS has set up a bank in Frankfurt to consolidate most of its European wealth management operations, after Britain's vote to leave the European Union dashed London's chances of being the host city. Luxembourg was a contender, along with London until Britain's vote to leave the EU,...

  • However, Abrahão said asset repatriation could gain even more momentum if Brazil's government wins congressional approval for deficit-cutting bills under discussion and succeeds in pulling Latin America's No. 1 economy out of a deep recession. Abrahão's remarks underscore the view that Brazil's fiscal agenda could transform the country's long-term...

  • With neutral Switzerland outside of the European Union, Luxembourg was a contender, along with London until Britain's vote to leave the EU, but Frankfurt had long been viewed as the favorite. The bank, in a statement on Thursday, said that by merging its wealth management subsidiaries in Germany, Italy, Luxembourg, the Netherlands and Spain into one legal entity, "...

  • The price of two turtle doves jumped from $290 to $375 this year, but nine of the other 12 gifts listed in the carol stayed the same price or became cheaper, including a partridge in a pear tree, according to the 33rd annual PNC Wealth Management Christmas Price Index released Thursday. As a result, the overall cost of the gifts listed in the song increased 0.7 percent...

  • NEW YORK, Dec 1- The majority of institutional investors worldwide are seeking to increase their investments in riskier alternatives that are not publicly traded such as hedge funds, real estate and private equity over the next one to two years to combat potential low returns and choppiness in public markets, a Fidelity survey showed on Thursday.

  • NEW YORK, Nov 30- Billionaire Steven A. Cohen's former hedge fund SAC Capital Advisors LP will pay $135 million to settle a lawsuit by investors in the drugmaker Elan Corp, who said they lost money because of insider trading by one of his portfolio managers. The preliminary class-action settlement with SAC, now known as Point72 Asset Management LP, was filed on...

  • Nov 30- The idea that people succeed at work up to the point at which they are no longer much good apparently applies to fund managers too. A new study bears out the truth in asset management of the "Peter principle", a theory coined by Laurence Peter, an academic who studied hierarchies. While older studies did show a relationship between increase in size of a fund and...

  • SAO PAULO/ SAN FRANCISCO, Nov 30- Online travel agency Decolar.com Inc, one of Latin America's few so-called unicorns, has held preliminary talks with investment banks for a U.S. listing on Nasdaq in the second half of 2017, three people with knowledge of the plan said. New York- based investment firm Tiger Global Management LLC, which owns 60 percent of Decolar.com,...

  • *CIB to sell 70-80 pct of investment bank arm CI Capital. CAIRO, Nov 30- Egypt's largest listed bank Commercial International Bank said it is in talks with local and Gulf investors to sell a 70-80 percent stake in its investment banking arm CI Capital. Sources with knowledge of the discussions had earlier on Wednesday told Reuters that CIB was close to finalising a...

  • CAIRO, Nov 30- Egypt's largest listed bank CIB is close to finalising a deal to sell a 70 percent stake in its investment banking arm CI Capital to a group of local investors, sources with knowledge of the discussions told Reuters on Wednesday. The investors would each hold a minority stake in CI Capital, the sources said. Sawiris said at the time that he planned to...

  • BEIJING, Nov 30- China has selected four banks as custodians of its pension insurance fund, clearing another hurdle for the investment of funds of up to $290 billion in its financial markets. The banks are Industrial and Commercial Bank of China, Bank of China, Bank of Communications and China Merchants Bank, the National Council for Social Security Fund said on...

  • LONDON, Nov 30- Investment banking fees earned in Europe, the Middle East and Africa account for just 24 percent of the global total so far this year, the lowest year-to-date share since records began in 2000, Thomson Reuters data shows. Britain's vote to leave the European Union in June and the ensuing uncertainty, a looming referendum on constitutional reform...

  • PHILADELPHIA— Temple University officials have announced that the north Philadelphia school's endowment has grown to surpass $500 million for the first time. The Philadelphia Inquirer reports university leaders credit both an increase in donations and better investment strategies as the reason for Temple reaching the milestone.

  • Activist hedge fund Clinton Group, which has not disclosed the size of its holding in the small bank, first began agitating for changes early this month. A spokesman for First NBC Bank said in an emailed statement that the company was open to input from shareholders and that it had multiple discussions with the Clinton Group. "First NBC is largely aligned with...

  • NEW YORK, Nov 29- At least four U.S. agencies are investigating former officials of a now-bankrupt oil and gas company once majority owned by troubled hedge fund manager Platinum Partners, according to a legal filing submitted last week. Attorney's office in Brooklyn, New York, the U.S. Securities and Exchange Commission, the Internal Revenue Service, and the U.S....