Diversified Financials Capital Markets

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  • April 10- It is only April, but some on Wall Street are already predicting a rotten 2016 for U.S. banks. Concerns about economic growth in China, the impact of persistently low oil prices on the energy sector, and near-zero interest rates are weighing on capital markets activity as well as loan growth. 'Goldman's lead banking analyst Richard Ramsden said in an...

  • David Tepper, at Carnegie Mellon University, October 30, 2015 in Pittsburgh.

    The departure of Tepper to Florida has gotten so much attention that lawmakers are calling for changing the state's tax structure.

  • SAO PAULO/ LONDON, April 8- Grupo BTG Pactual SA has spun off a fast-growing commodities sales and trading unit, allowing the Brazilian investment bank to free up capital in the wake of a recent balance sheet downsizing. Bloomberg News reported earlier Friday that the unit would be separated in a deal valuing the business at about $1.6 billion.

  • April 8- Money managers slashed their bullish exposure in U.S. crude by the most in three months ahead of a sharp oil price rally this week, trade data showed on Friday. The managers of hedge funds and other investment firms that speculate on oil cut their net longs in U.S. crude options and futures by 21,831 contracts to 177,504 for the week ended Tuesday, the...

  • SAO PAULO, April 8- Grupo BTG Pactual SA is moving closer to spinning off a fast-growing commodities sales and trading unit, allowing the Brazilian investment bank to free up capital in the wake of a recent balance sheet downsizing, a source familiar with the plan said on Friday. Founder André Esteves was arrested in November in connection with a corruption...

  • SAO PAULO, April 8- Grupo BTG Pactual SA is moving closer to spinning off a fast-growing commodities sales and trading unit, allowing the Brazilian investment bank to free up capital in the wake of a recent balance sheet downsizing, a source familiar with the plan said on Friday. Founder André Esteves was arrested last November in connection with a corruption...

  • LONDON, April 8- Hedge funds investing in China lost an average of 7.4 percent in the first quarter of 2016, the fallout of a turbulent three months for the world's second largest economy, all but wiping out all the previous year's profits, data from eVestment showed. Public media in China lashed out at hedge fund "speculators" and regulators took a raft of measures...

  • NEW YORK, April 7- The U.S. options trading industry and people hoping to include exchange-listed options individual retirement accounts were relieved on Wednesday to learn U.S. regulators had decided against prohibiting those financial instruments in IRAs. The Obama Administration unveiled its final version of a retirement advice rule aimed at...

  • NEW YORK, April 7- U.S. Oil was down more than 2 percent and Wall Street opened broadly lower. "The little bit of weakness in oil is certainly part of the equation there, and some of the negative correlation between equity and Treasury bond performance is still in place," said Mark Heppenstall, chief investment officer of Penn Mutual Asset Management in Horsham,...

  • April 7- JPMorgan Chase& Co urged shareholders on Thursday to vote against appointing a committee to explore a break up of the bank, reiterating that splitting its businesses would not be in investors' best interests. According to a regulatory filing, a shareholder, Bartlett Naylor, plans to propose at JPMorgan's annual general meeting on May 17 that the bank...

  • *OCBC to buy Barclay's Singapore, Hong Kong operations. SINGAPORE, April 7- Barclays has agreed to sell its wealth and investment management business in Hong Kong and Singapore to Oversea-Chinese Banking Corp, as the British lender continues its drive to reduce risk and simplify. OCBC's purchase price was set at 1.75 percent of Barclays' $18.3 billion in assets...

  • *OCBC agrees to buy Barclay's Singapore and Hong Kong operations. SINGAPORE, April 7- OCBC's path to snapping up Barclays' Singapore and Hong Kong wealth management business became much easier after rival DBS Group Holdings was turned off by fears of poaching at the unit, financial sources familiar with matter said. Oversea-Chinese Banking Corp, Singapore's...

  • *Agrees to buy Barclay's Singapore and Hong Kong operations. SINGAPORE, April 7- Oversea-Chinese Banking Corp has agreed to buy Barclays' wealth management operations in Singapore and Hong Kong for $320 million, its second major private banking deal since 2009.. "Strategically, this acquisition further broadens our geographical footprint and client...

  • SINGAPORE, April 7- A unit of Oversea-Chinese Banking Corp, Singapore's second-biggest lender, said it has agreed to buy part of the Asian wealth unit of Barclays for $320 million, its second major private banking acquisition since 2009.. OCBC beat DBS Group Holdings, the other bidder left in the race, sources with knowledge of the matter said, after a competitive...

  • NEW YORK, April 6- After years of debate, the U.S. Department of Labor issued a new rule on Wednesday that requires financial advisers who handle retirement accounts to act as "fiduciaries," which means putting the best interests of their clients first. The ruling is complex, but the following are some answers to some of the most basic questions on retirement savings,...

  • BOSTON, April 6- Fidelity Investments parent FMR LLC on Wednesday named company veteran Gerard McGraw as its new chief financial officer and gave him an expanded role overseeing finance and brokerage operations. While McGraw will continue to report to Fidelity Chief Executive Abigail Johnson, the shift marks one of the more significant personnel changes...

  • BOSTON, April 6- Hedge fund Tiger Global Management, known for making big bets on technology companies, slipped modestly in March, leaving it down 21 percent for the first three months of the year, an investor in the fund said. The numbers put the New York- based firm, which manages roughly $6 billion in its hedge fund, among the year's worst performers, a rare misstep for...

  • MADRID, April 6- The sale of hundreds of subsidized flats by Madrid's former city council to private equity investors such as Blackstone was riddled with flaws, a preliminary report from a local auditing body said on Wednesday. Blackstone Group, one of the world's largest alternative asset managers, along with Spanish fund Magic Real Estate, bought over 1,800...

  • BOSTON, April 6- Hedge fund Tiger Global Management, known for making big bets on technology companies, slipped modestly in March, leaving it down 21 percent for the first three months of the year, an investor in the fund said. For the New York- based firm, which manages roughly $6 billion in its hedge fund, the numbers put it among the year's worst performers, marking a...

  • April 6- Miner and commodity trader Glencore said it had agreed to sell a 40 percent stake in its agricultural business to Canada Pension Plan Investment Board for $2.5 billion and use the proceeds to reduce debt, which is among the highest in the sector. The Wall Street Journal on Tuesday said CPPIB, one of the world's biggest pension funds, likely won that auction.