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Diversified Financials Capital Markets

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  • LONDON— Second-quarter profit at taxpayer-owned Royal Bank of Scotland rose 27 percent, it announced Thursday, but warned the cost of past scandals may continue to weigh on earnings. Net income for the period advanced to 293 million pounds from 230 million pounds a year earlier as the value of RBS's stake in U.S.-based Citizens Bank increased.

  • HONG KONG, July 30- China shares slid on Thursday after state media reported that banks were investigating their exposure to the stock market from wealth management products and loans collateralised with stocks. "The market has been struggling to hover above the water with investors taking to the sidelines to see if stability can be maintained in the market,"...

  • SHANGHAI, July 30- China stocks were mixed on Thursday after state media reported that Chinese banks were investigating their exposure to the stock market via wealth management products and loans backed by stock as collateral. China CSI300 stock index futures for August rose 0.3 percent, to 3,767, but remained in bearish territory at 157.23 points below the...

  • NEW YORK, July 29- Celgene Corp, one of the world's largest biotechnology companies, has accused U.S. hedge fund manager Kyle Bass of attempting to profit from his attempts to wipe out several major drug patents through his Coalition for Affordable Drugs. Patent and Trademark Office on Tuesday to sanction Bass and others behind the group by throwing out its...

  • PARIS, July 29- A Paris commercial court gave U.S. group XPO Logistics the green light on Wednesday to proceed with its post-purchase integration of French transport firm Norbert Dentressangle, throwing out an injunction sought by a U.S. hedge fund. The court also rejected XPO's request to extend a temporary injunction barring Elliott Capital Advisors from...

  • *Vlieghe to retain interest in Brevan Howard hedge fund. LONDON, July 29- New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement that Britain's finance ministry said posed no conflict of interest. Some economists privately expressed surprise...

  • *Vlieghe to retain interest in Brevan Howard hedge fund. LONDON, July 29- New Bank of England policymaker Gertjan Vlieghe will retain a financial interest in one of the world's biggest hedge fund firms while he sets interest rates, an arrangement which Britain's finance ministry said posed no conflict of interest. Some economists privately expressed surprise...

  • LONDON, July 29- It is barely two weeks since Greece was on the brink of crashing out of the euro, yet some investment banks are now encouraging investors to return to its bond market. Although question remain over whether Greece will be able to stick to the terms of a new deal or will be back at the ballot box within the year, markets have breathed a collective sigh of...

  • Man Group gets H1 performance fee boost, shares rise Wednesday, 29 Jul 2015 | 4:31 AM ET

    LONDON, July 29- British hedge fund manager Man Group posted forecast-beating first-half results on Wednesday, boosted by performance fee gains and a rise in profits that sent its shares higher. After a quarter in which markets were roiled by political troubles in Greece and a sharp drop in the Chinese stock market, hitting performance of its AHL investment...

  • Artisan Partners meets 2Q profit forecasts Tuesday, 28 Jul 2015 | 7:20 PM ET

    MILWAUKEE _ Artisan Partners Asset Management Inc. on Tuesday reported second-quarter earnings of $23.8 million. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 74 cents per share. Artisan Partners shares have decreased 10 percent since the beginning of the year.

  • Calamos Asset Management posts 2Q profit Tuesday, 28 Jul 2015 | 5:06 PM ET

    NAPERVILLE, Ill. _ Calamos Asset Management Inc. on Tuesday reported second-quarter net income of $2 million. Calamos Asset Management shares have declined nearly 10 percent since the beginning of the year. Keywords: Calamos Asset Management, Earnings Report.

  • NEW YORK, July 27- UBS AG's Wealth Management Americas business on Monday said its second-quarter adjusted profits fell as higher litigation and regulatory costs put pressure on the Swiss bank's brokerage division. UBS Wealth Management Americas, which includes what was formerly known as PaineWebber Group, said adjusted pre-tax profit fell to $231 million...

  • Three public workers' pension funds are suing New Jersey for billions in damages, claiming the state government breached contracts when it contributed less than planned. The following is a look at the saga, which is a major political and financial issue in New Jersey for Christie, who is seeking the 2016 Republican presidential nomination.

  • LONDON, July 27- Hedge funds are more bearish about the outlook for U.S. oil prices than at any time for almost five years, according to data from the U.S. Commodity Futures Trading Commission. Hedge funds and other money managers had a net long position in WTI-linked futures and options equivalent to just 118 million barrels of oil on July 21, down from a recent high...

  • BERLIN— Swiss bank UBS AG says its earnings leapt by 53 percent in the second quarter, helped by strong performances in equities trading and wealth management. UBS said Monday that its net profit for the April-June period was 1.21 billion francs, up from 792 million francs a year earlier. CEO Sergio Ermotti said he was pleased with the quarter and that UBS "...

  • TORONTO, July 24- Canadian mining-focused investment bank Edgecrest Capital has put itself on the auction block, hurt by a prolonged downturn in the natural resource sector that has hit fees and activity, according to two sources familiar with the situation. The move comes two years after Toronto- based Edgecrest, which is led by investment banker David Beatty,...

  • NEW YORK, July 24- The trustee liquidating the bankrupt brokerage unit of Jon Corzine's MF Global Holdings Ltd on Friday announced an agreement that would enable unsecured creditors to recoup nearly everything they are owed, and largely conclude the unit's nearly four-year liquidation. James Giddens, the trustee, said he would sell various claims held by the...

  • HONG KONG, July 24- Private equity firms KKR& Co and TPG Capital are making poor returns on their investment in China International Capital Corp, the country's oldest investment bank that is readying an IPO but has struggled to compete with younger rivals. CICC, formerly led by Levin Zhu, the' princeling' son of former Chinese premier Zhu Rongji, filed late on...

  • BEIJING, July 24- Investment managers who broke rules while losing money investing on the behalf of Chinese pension funds could be liable for the losses, a spokesman for the Ministry of Human Resources and Social Security said on Friday. Faced with a fast-aging population and a funding shortfall, China's pension funds are under pressure to improve their...

  • July 23- Asset manager Ares Management L.P said it would buy Kayne Anderson Capital Advisors for $2.55 billion to expand its investing expertise, especially in the energy sector. Ares said it will pay the majority of the deal consideration with Ares Operating Group units. Upon closing of the deal around Jan. 1, Kayne Anderson Chairman Richard Kayne and Ares Chief...