Diversified Financials Capital Markets

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  • May 3- The father of a former investment banker at Perella Weinberg Partners and JPMorgan Chase& Co was sentenced on Wednesday to a year of home confinement and three more years of probation, for trading securities ahead of healthcare mergers based on tips from his son. District Judge Laura Taylor Swain in Manhattan sentenced Robert Stewart, 61, at a court...

  • ASTENBECK ASSETS UNDER MANAGEMENT AT $2.4 BLN, UP FROM $2.1 BLN IN MARCH- INVESTOR LETTER.

  • May 4- California Public Employees' Retirement System said it bought a 10 percent share of the Indiana Toll Road Concession Co LLC from fund manager IFM Investors, marking its first investment in U.S. transportation. ITRCC operates and maintains a 157- mile divided highway, known as the Indiana Toll Road for Indiana. Direct investment in transportation by a...

  • *French bank unveils 220 mln euros in cost cuts. PARIS, May 4- Societe Generale is to cut a further 220 million euros in costs from its investment bank to help to boost profitability after a tough start to the year for this business. France's second biggest bank reported stronger than expected group profit in the first quarter, bucking the trend for European banks...

  • *GRAPHIC- Saudi corporate earnings: http://tmsnrt.rs/1W1H1nf. DUBAI, May 4- Saudi Arabian companies are faring better in an era of austerity than many investors feared, but they face more pain in the coming months as gains from cost-cutting and efforts to improve efficiency become more difficult. The world's largest oil exporting country is in the grip of a...

  • *Nickel may be next target for China regulators- broker. "Speculative funds have exited the market at the moment and I think it's time to take a break," said a researcher at a Shanghai- based fund, who declined to be named because he is not allowed to speak to media. Prices retreated after commodity exchanges in Dalian, Shanghai and Zhengzhou increased transaction...

  • LOS ANGELES, May 3- Bankers are seeing more evidence that activist investor tactics launched in the United States several years ago are making their way abroad. So far this year, international activist campaigns are up 30 percent, Robin Rankin, co-head of global mergers and acquisitions at Credit Suisse Group AG, said during a panel on Tuesday at the Milken...

  • LOS ANGELES, May 3- Anti-trust concerns are preventing corporations from pursuing mergers more than other broad regulatory or economic issues, several senior investment bankers said during a panel on Tuesday at the Milken Institute's Global Conference. "It's that increasingly high bar that we're seeing from an anti-trust perspective," said Paul Stefanick,...

  • The insurer's near collapse in 2008 and its $182 billion bailout by the U.S. government led to its inclusion in the Federal Reserve's list of "systemically important financial institutions". Chief Executive Peter Hancock said in March that a judge's ruling that MetLife Inc was not "too big to fail" opened up an opportunity for AIG to seek an exemption from the...

  • They said the documents also showed the loophole in German tax rules had been exploited by some of the world's largest institutional investors including Blackrock and Norway's sovereign wealth fund to cut their tax bills. The report reignited a debate about tax avoidance in Germany, where politicians and government rounded on a scheme that Wolfgang...

  • BOSTON, May 3- Och-Ziff Capital Management Group LLC reported a first-quarter loss on Tuesday after setting aside $200 million to settle charges that it paid bribes to African officials in return for investments in its alternative asset funds. The largest publicly traded U.S. hedge fund company's shares fell 6 percent to $3.76 after news of the unexpected...

  • BOSTON, May 3- Alternative asset investment manager Och-Ziff Capital Management Group LLC reported a first-quarter loss on Tuesday after taking a $200 million reserve as it moves closer to settling bribery charges with the U.S. government. The largest publicly traded U.S. hedge fund posted a distributable loss of $142.5 million, or 27 cents a share, compared...

  • DUBAI, May 3- Saudi Arabia announced a string of reforms to its stock market that could attract billions of dollars of fresh foreign money and smooth sales of state assets as the kingdom grapples with damage to its finances caused by low oil prices. When Riyadh opened its bourse to direct foreign investment last June, it took a cautious approach, imposing tight...

  • Jeffrey Smith, Starboard Value

    Yahoo's management team and directors have given a warm welcome to Starboard Value Chief Executive Jeffrey Smith since he joined the company's board.

  • *Q1 net profit 707 Sfr mln vs poll f'cast 704 mln Sfr. ZURICH, May 3- UBS plans job cuts to help save hundreds of millions of dollars in its wealth management business, after the Swiss bank's first-quarter net profit fell by nearly two-thirds due to wary clients investing less. Although this was roughly in line with the average estimate of 704 million francs in a...

  • LONDON, May 3- Hedge funds increased their net long positions in Brent and WTI derivatives by 7 million barrels to a record 663 million barrels in the week ending April 26. Even though oil prices have already risen by roughly $20 per barrel from their low in January, hedge funds are more bullish than at any time since oil prices started slumping in the summer of 2014..

  • LOS ANGELES, May 2- Yahoo Inc's management team and directors have given a warm welcome to Starboard Value LP Chief Executive Jeffrey Smith since he joined the company's board after a contentious battle, he said on Monday. "Yahoo has been great," said Smith, who was speaking on a panel at the Milken Institute Global Conference here. "The board members have been...

  • The insurer's near collapse in 2008 and its $182 billion bailout by the U.S. government led to its inclusion in the Federal Reserve's list of "systemically important financial institutions". Chief Executive Peter Hancock said in March that a judge's ruling that MetLife Inc was not "too big to fail" opened up an opportunity for AIG to seek an exemption from the...

  • May 2- Goldman Sachs Group Inc could benefit if it expanded its traditional banking by acquiring online brokerage E* Trade Financial Corp given the Wall Street bank's revenue has been largely flat this decade, said CLSA analyst Mike Mayo. The bank, which carries out consumer, corporate and private banking through GS Bank USA, has initiated the expansion of...

  • LONDON, May 2- Almost half of the world's top 500 investors are doing nothing to address climate change through their investments, a study showed on Monday. A report by the Asset Owners Disclosure Project, a not-for-profit organisation aimed at improving the management of climate change, found that just under a fifth of the top investors- or 97 managing a total of...