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Diversified Financials Capital Markets

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  • WASHINGTON/ ZURICH, March 31- Swiss bank BSI has become the first of what is expected to be several dozen Switzerland- based private banks to reach a deal under a voluntary disclosure programme for tax-related offenses being run by the U.S. Department of Justice. Under a non-prosecution agreement signed on Monday, Lugano-based BSI will pay a $211 million penalty...

  • LONDON, March 31- Elliott Advisors, the rebel shareholder seeking a boardroom shake-up at Alliance Trust, rejected the trust's defence of its performance, costs and dividend policy on Tuesday, and reiterated calls for the election of three new directors. Using data from third parties including AIC, Bloomberg and MSCI, Elliott said that over all relevant return...

  • WASHINGTON, March 30- Hedge fund mogul William Ackman, who has spent more than two years accusing Herbalife Ltd of running a pyramid scheme, said on Monday that shutting down the company is "one of the most important things" he can do. Speaking at a meeting of the Council of Institutional Investors' in Washington, Ackman said again that Herbalife has caused "enormous...

  • Ackman says shutting Herbalife down is key to him Monday, 30 Mar 2015 | 4:45 PM ET

    BOSTON, March 30- Hedge fund mogul William Ackman, who has spent more than two years accusing Herbalife Ltd of running a pyramid scheme, said on Monday that shutting down the company is the most important thing he can do. Speaking at a meeting of the Council of Institutional Investors' in Washington, Ackman said again that Herbalife preys on a "vulnerable population"...

  • BEIJING, March 30- Egypt will apply to become of member of the Beijing-led Asian Infrastructure Investment Bank, China's Ministry of Finance said in a statement on its website Monday. China has set a March 31 deadline to become a founding member of the AIIB, which is seen as a significant setback to U.S. efforts to extend its influence in the Asia Pacific region and...

  • *Pension funds move some hedge funds into equity portfolios. *Seeking protection from overheated equity markets. LONDON, March 30- Pension schemes are changing their attitudes to hedge funds, bringing some into their mainstream equity portfolios in order to access products that offer protection in overheated markets.

  • PARIS, March 30- U.S. hedge fund P. Schoenfeld Asset Management has accused French media group Vivendi of giving too much leeway to chairman and largest shareholder Vincent Bollore to boost his stake at "undervalued prices". PSAM, which says it owns 0.8 percent of Vivendi, is trying to rally other shareholders to vote for two resolutions at an upcoming annual...

  • NEW YORK, March 30- Fidelity Investments, a major investor in DuPont, has put pressure on activist fund Trian Fund Management LP and the chemical conglomerate to reach a settlement in what it sees as a detrimental proxy fight, according to people close to the matter. Fidelity, whose 2.5 percent stake makes it DuPont's sixth largest shareholder, has not publicly...

  • SHANGHAI, March 30- China's once-struggling mutual fund industry is riding high on the country's surging stock market, with new funds snapped up in days by investors who long shunned shares as too risky. This marks a success for policymakers working to build confidence in equities and a relief for China's fund management industry. In January and February, 75...

  • SHANGHAI/ RIO DE JANEIRO, March 28- Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank, adding clout to an institution seen as enhancing China's regional and global influence. The AIIB, seen as a challenge to existing institutions the World Bank and...

  • BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings of the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...

  • BEIJING, March 29- Denmark has applied to join the Beijing-led Asian Infrastructure Bank, China's Ministry of Finance said on Sunday, becoming the latest European power to join the institution despite misgivings in the United States. The Ministry of Finance said that Denmark has written to China to "announce its intention to apply to be a founding member" of the...

  • More countries to join China-led investment bank Saturday, 28 Mar 2015 | 11:26 PM ET

    Russia, Australia and the Netherlands became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank.

  • SHANGHAI/ RIO DE JANEIRO, March 28- Russia, Australia and the Netherlands on Saturday became the latest three countries to say they plan to join the China-led Asian Infrastructure Investment Bank, adding clout to an institution seen as enhancing China's regional and global influence. The AIIB, seen as a challenge to existing institutions the World Bank and...

  • March 28- China will encourage local companies to issue bonds overseas to fund projects to create a modern Silk Road, a plan to boost connectivity across Asia for which it has created a $40 billion fund, according to a framework agreement released on Saturday by the official Xinhua news agency. The so-called "One belt, One road" initiative to link Asia to Europe and...

  • UK, Switzerland accepted by China-led investment bank Saturday, 28 Mar 2015 | 1:52 AM ET

    China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank.

  • SHANGHAI/ RIO DE JANEIRO, March 28- China's Finance Ministry said on Saturday that the U.K. and Switzerland had been formally accepted as founding members of the Asian Infrastructure Investment Bank, a day after Brazil accepted China's invitation to join the AIIB. China's AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a...

  • Chevron exits Caltex Australia stake for $3.7 bln Friday, 27 Mar 2015 | 10:35 PM ET

    PERTH, March 28- U.S. energy giant Chevron sold its entire stake in refiner Caltex Australia Ltd for A $4.7 billion in Asia's biggest block deal this year, as falling oil prices and high costs hurt margins. Offshore institutional investor demand for the 50 percent stake in Australia's biggest refiner was strong, with bidding driving the final price to A $35 a share,...

  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. China's Finance Ministry said that Austria had also applied to join, and has...

  • RIO DE JANEIRO, March 27- Brazil said on Friday it had accepted China's invitation to join its Asian Infrastructure Investment Bank as a founding member. The AIIB has been seen as a challenge to the World Bank and Asian Development Bank, and a significant step for China's global influence. The United States had warned against the new institution but its European...