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  • NEW YORK, March 9- U.S. prosecutors have concluded that a former Wyoming Retirement System chief investment officer's insider trading guilty plea is no longer valid following a major appellate ruling limiting the ability of authorities to prosecute insider trading cases. Prosecutors in a letter filed on Friday in Manhattan federal court said they believed...

  • HONG KONG, March 9- Hong Kong shares finished mixed on Monday after the Chinese securities regulator said that banks may be able to enter the brokerage business. Despite the bank-led rally that left both major mainland bourses up over 1.5 percent, Hong Kong's Hang Seng index ended slightly lower. "The news benefited mainland banks as they could expand their...

  • Investment bank China International Capital Corp said in a report on Monday that Bank of Communications and Industrial Bank Co Ltd will likely become the first lenders to be awarded brokerage licenses in China. The CSI300 index of the largest listed companies in Shanghai and Shenzhen rose 1.7 percent, while the Shanghai Composite Index jumped 1.9 percent.

  • Hotel investors battle for yield as sector heats up Sunday, 8 Mar 2015 | 5:00 AM ET

    *Report predicts $68 bln in hotel real estate deals in 2015. BERLIN, March 8- Investors are expected to pump more money into buying, converting or building hotels in 2015 than in any year since the start of the global financial crisis, with a focus on budget and' buzz'. "It's not about people loving hotels, it's about investors searching for a return on their money which...

  • NEW YORK, March 6- Investment bank Jefferies Group LLC, owned by Leucadia National Corp, has cut about 20 jobs in its commodities futures brokerage in New York and Chicago, three sources familiar with the cuts said on Friday. People affected by the move were let go on Thursday, the sources told Reuters, in what was described as a sweep that affected employees who...

  • UPDATE 4-At long last, Dow gets a taste for Apple Friday, 6 Mar 2015 | 11:47 AM ET

    NEW YORK, March 6- Apple Inc, the largest U.S. company by market value, will join the storied Dow Jones industrial average, replacing AT&T Inc, in a change that reflects the dominant position of iPhone maker in the U.S. economy and society. "This is a sign of the times, and it might get everyone to look at the Dow more than they have been," said Richard Sichel, who oversees $2...

  • NEW YORK, March 6- Apple Inc, the largest U.S. company by market value, will join the storied Dow Jones industrial average, replacing AT&T Inc, in a change that reflects the dominant position of iPhone maker in the U.S. economy and society. "This is a sign of the times, and it might get everyone to look at the Dow more than they have been," said Richard Sichel, who oversees $2...

  • BOSTON, March 5- Hedge fund manager Patrick McCormack, a protégé of industry pioneer Julian Robertson, is shutting down his roughly $1.4 billion Tiger Consumer Management, according to a letter sent to investors. Bloomberg first reported the news. Running a hedge fund "takes a lot out of a person," said Don Steinbrugge, an industry consultant at Agecroft Partners.

  • BOSTON, March 5- Hedge fund manager Patrick McCormack is shutting down his roughly $1.4 billion Tiger Consumer Management, according to a letter sent to investors. Bloomberg first reported the news. When Stanley Druckenmiller and Chris Shumway announced their retirements in 2010 and 2011, their firms were liquidated.

  • NEW YORK, March 5- A New York state appeals court on Thursday approved Bank of America Corp's $8.5 billion settlement with mortgage securities investors in its entirety. Bank of America had agreed to the 2011 settlement with 22 institutional investors including BlackRock Inc, MetLife Inc and Allianz SE's Pacific Investment Management Co to resolve claims...

  • LONDON, March 5- British fund manager Schroders Plc reported a better than expected jump in profits on Thursday, as net inflows more than tripled and assets under management rose to a record level, sending its share price to a fresh life-time high. Schroders said it took in a net 24.8 billion pounds of new investments over the year and added 12.3 billion pounds from...

  • JAKARTA, March 5- Investment bankers and company executives are worried President Joko Widodo's drive for clean governance is falling apart amid a dispute between rival law enforcement agencies in Southeast Asia's largest economy. Indonesia's main anti-corruption agency, Corruption Eradication Commission, has been severely weakened over the last few...

  • *Higher fund flows coming from eastern Europe to Dubai. Swiss-based but Abu Dhabi- owned Falcon would be open to deals covering its core target markets of the Gulf, Eastern Europe, Africa and South East Asia, according to Erich Pfister, who took up the role in January. The last major acquisition by Falcon, which manages around 16 billion francs of assets, was the...

  • LONDON, March 4- Britain agreed to sell its 40 percent stake in the Eurostar rail link for 585 million pounds to a consortium of Canadian public pension fund Caisse de Depot du Placement du Quebec and British asset manager Hermes. The government announced the deal for its stake in the high-speed rail link between Britain and continental Europe on Wednesday...

  • LONDON, March 4- Royal Bank of Scotland has yet to decide how many jobs it will cut at its investment bank after announcing a major downsizing of the business last week, its Chief Executive Ross McEwan said on Tuesday. RBS is shrinking its investment banking operations dramatically, pulling out of 25 countries in Europe, Asia and the Middle East while cutting jobs...

  • BOSTON, March 4- Mutual fund companies, including No. 2 Fidelity Investments, have slashed fees on their most popular funds by shifting billions of dollars into collective trusts not regulated by the U.S. Securities and Exchange Commission. "CITs are more opaque to the outside world because reporting requirements are not as stringent," said Michael Rawson,...

  • March 3- Royal Bank of Scotland is aiming to cut as many as 14,000 jobs in its investment banking units across the United States and Asia, the Financial Times reported. Of the total 18,000 people who work for RBS' investment banking unit, it aims to slash as many as four of every five positions by 2019, while overhauling the back-office systems to automate them, the...

  • NEW YORK, March 3- Investors yanked another $8.6 billion from the Pimco Total Return Fund last month, Pimco said on Tuesday in the latest indication the firm's flagship fund is still reeling from the sudden departure of co-founder Bill Gross last September. In an interview with Reuters on Tuesday, Pimco Group Chief Investment Officer Dan Ivascyn said: "We...

  • NEW YORK, March 3- Pimco's top investment officer said on Tuesday that "late decision makers" are largely behind a rush of withdrawals from its flagship bond fund some five months after the departure of longtime manager Bill Gross, but the outflows should taper off before long. Ivasycn's comments came as the firm reported another $8.6 billion of outflows in...

  • NEW YORK, March 3- Investors yanked another $8.6 billion from the Pimco Total Return Fund last month, Pimco said on Tuesday in the latest indication the firm's flagship fund is still reeling from the sudden departure of co-founder Bill Gross last September. The fund had assets under management of $124.7 billion at the end of February, down from a peak of $292.9...