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Diversified Financials Capital Markets

  • LONDON, Jan 30- The European Union should create an asset management company to scoop up a trillion euro mountain of bad loans that has become a brake on economic growth, the bloc's banking watchdog said on Monday. Italian banks account for 276 billion euros of the bloc's bad loans, by far the largest of any EU banking sector, but 10 EU states have an average bad loan...

  • MILAN, Jan 30- An expected bid by Intesa Sanpaolo, Italy's biggest retail bank, for the country's largest insurance company is a bold gamble that has stunned the cosy world of Italian finance and carries risks for both predator and prey. The extent of what Intesa CEO Carlo Messina was planning dawned on Philippe Donnet, the French head of Generali, when he tried to...

  • MILAN, Jan 30- An expected bid by Intesa Sanpaolo, Italy's biggest retail bank, for the country's largest insurance company is a bold gamble that has stunned the cozy world of Italian finance and carries risks for both predator and prey. The extent of what Intesa CEO Carlo Messina was planning dawned on Philippe Donnet, the French head of Generali, when he tried to...

  • LONDON, Jan 27- Hedge funds are betting heavily that crude oil markets will move into a supply deficit and start to draw down excess stockpiles in 2017.. Hedge funds and other money managers have amassed net long positions equivalent to 160 million barrels in calendar spread options on the New York Mercantile Exchange. Economist Holbrook Working explained the...

  • Similar price rises for old drugs have sparked outrage in the United States, where former hedge fund manager Martin Shkreli was pilloried in 2015 for increasing the cost of an anti-parasitic medicine by more than 5,000 percent. The new analysis by British academics suggests Europe is not immune to such unexplained cost increases, although absolute prices...

  • *TPG, Cerberus, Thoma Bravo interested in bidding. TORONTO, Jan 27- Canada Pension Plan Investment Board and several U.S. private equity firms are interested in acquiring Canadian financial technology services provider DH Corp, according to people familiar with the situation. TPG, Cerberus Capital Management LP and technology-focused Thoma Bravo are some of...

  • LONDON, Jan 27- Hedge funds are betting heavily that crude oil markets will move into a supply deficit and start to draw down excess stockpiles in 2017.. Hedge funds and other money managers have amassed net long positions equivalent to 160 million barrels in calendar spread options on the New York Mercantile Exchange. Economist Holbrook Working explained the...

  • *Q4 net profit 738 mln Sfr vs 339 mln estimate in poll. UBS says to propose 2016 dividend of 0.60 Sfr per share. ZURICH, Jan 27- UBS hopes optimism surrounding new U.S.

  • ZURICH, Jan 27- UBS hopes a Donald Trump- inspired rally in the United States will help boost earnings at its struggling wealth management business after posting a 47 percent fall in full-year net profit. With profit from its core wealth management business under pressure, the bank pointed to growing investor confidence in the United States towards the end of...

  • NEW YORK, Jan 26- Billionaire hedge fund manager William Ackman, who has long courted publicity with his multibillion-dollar stock investments, took a new tack on Thursday when he shrouded his most recent bets in mystery. Ackman's $10.9 billion hedge fund Pershing Square Capital Management made two bets in recent months where the firm committed more than 10...

  • Jan 26- Stephen Berenson, a vice chairman of investment banking at JPMorgan Chase& Co, has retired after more than three decades with the firm, according to an internal memo seen by Reuters. He helped the firm establish its investment banking franchise, and held roles including head of Latin American M&A, head of equity capital markets in Europe, the Middle East and...

  • Jan 26- Stephen Berenson, a vice chairman of investment banking at JPMorgan Chase& Co, has retired after more than three decades with the firm, according to an internal memo seen by Reuters.

  • NEW YORK, Jan 26- Blackstone Group LP, the world's biggest alternative asset manager, said on Thursday it was hopeful it can cope with any U.S. tax reforms after posting better-than-expected fourth-quarter earnings on the back of a stronger stock market. "There will be big winners and big losers and plenty of turmoil," Tony James, president and chief executive of...

  • The Baltimore asset manager said total assets under management at Dec. 31 stood at $810.8 billion, after market gains of $2.9 billion during the quarter were more than offset by $5 billion of net client withdrawals. The withdrawals included $1.9 billion from its target-date retirement portfolios as investors moved to passive products, the company said.

  • NEW YORK, Jan 26- Blackstone Group LP, the world's biggest alternative asset manager, posted better-than-expected fourth-quarter earnings on Thursday as its investments rose across the board, in line with gains in the stock market. The firm said it earned an economic net income- a key earnings metric for U.S. private equity firms that accounts for unrealized...

  • *U.S. hedge fund manager Dan Och another big winner. ZURICH, Jan 26- The 70- year-old son of a Swiss butcher is among the biggest beneficiaries of Johnson& Johnson's $30 billion takeover of Actelion, Europe's biggest biotech company. Other winners include BlackRock, which according to a SIX Swiss Exchange filing from December owns 5.2 percent of Actelion, and...

  • BOSTON, Jan 25- Harvard University plans to outsource most of its investment management activities and cut its endowment staff by roughly half, in a dramatic overhaul in how the Ivy League school's $35.7 billion in assets are managed. As the richest university in the world, Harvard's decision to break with its long-held hybrid investment model, in which a...

  • BOSTON, Jan 25- Harvard University plans to outsource most of its investment management activities and cut its staff by roughly half, in a dramatic overhaul in how the Ivy League school's $35.7 billion endowment is managed. The internal team that oversees real-estate investments will spin out into an independent group that is expected to keep managing money...

  • BOSTON, Jan 25- Harvard University will hire Rick Slocum as chief investment officer at its investment arm, Harvard Management Company, as the school overhauls the way it manages its endowment. N.P. Narvekar, the recently hired chief executive of the investment arm, said Slocum, who had been chief investment officer at the Johnson Company family office, will join...

  • WASHINGTON, Jan 25- The confirmation process for Republican President Donald Trump's choice to chair the U.S. Securities and Exchange Commission appears to be moving forward without any hiccups. Jay Clayton, a lawyer whose specialties include mergers and acquisitions, met privately with Senate Banking Committee Chairman Michael Crapo on Tuesday.