Diversified Financials Capital Markets

More

  • March 30- Global asset manager BlackRock Inc is planning to cut about 400 jobs, or 3 percent of its workforce, as it redirects resources to growth areas, a person familiar with the matter said on Wednesday. The New York- based company employed about 13,000 people globally as of Dec. 31. BlackRock Chief Executive Larry Fink said in January that while financial markets...

  • March 30- BlackRock Inc, the world's largest asset manager, is planning to cut about 400 jobs, or 3 percent of its workforce, Bloomberg reported, citing people with knowledge of the matter. The layoffs will be announced in the coming weeks, but the firm will continue to hire in key areas and expects to end the year with a higher headcount, Bloomberg reported.

  • HOUSTON, March 30- A top U.S. natural gas trader for Brazilian investment bank BTG Pactual SA has left the company, two sources said on Wednesday, marking the second major departure from the firm's physical commodities business in the past month. The departure comes at a tumultuous time for the investment bank, which is working to restore investor confidence...

  • SHANGHAI, March 30- China has circulated plans to introduce credit-default swaps and other derivatives so investors can hedge risk in its $7.5 trillion bond market, sources said, a sign regulators want to allow more defaults without destabilizing the market. Sources said that the China's National Association of Financial Market Institutional Investors, a...

  • March 30- State Street Corp said it would buy General Electric Co's asset management business for up to $485 million as the industrial conglomerate winds down its financing arm to reduce regulatory burden. GE has been disposing assets off GE Capital, a $200 billion financing business, as it seeks to return to its industrial roots. State Street had $28 trillion in...

  • March 30- State Street Corp said it would buy General Electric Co's asset management business for up to $485 million.

  • NEW YORK, March 30- As Wall Street remakes itself on a former rail yard in the far west of Midtown Manhattan, one surprising name is leading the way. Wells Fargo& Co, the San Francisco- based lender known for its retail banking business, has picked out space for a trading operation to use as a base for a stealth attack on the investment banking world.

  • TORONTO, March 29- Canada's main stock index rose on Tuesday, reversing earlier losses as dovish comments from Federal Reserve Chair Janet Yellen helped support gold mining stocks. The Fed's cautious stance is "great for asset prices for now and as an asset manager we are going make sure we take advantage," said Diana Avigdor, head of trading at Barometer Capital...

  • NEW YORK, March 29- BlackRock Inc is planning to unveil a new U.S.-listed exchange-traded fund that will invest in all areas of the junk-bond market except the tattered energy sector, the asset manager said in a regulatory filing this week. Plans for the ETF were disclosed late Monday in a BlackRock filing with the U.S. Securities and Exchange Commission.

  • LONDON, March 29- Hedge funds and other money managers have amassed a near-record number of bullish bets on increasing oil prices, helping push the main international benchmark well above $40 per barrel. The net long position has passed the previous peak of 572 million barrels, set in May 2015, and is closing in on the record of 626 million, set in June 2014, when...

  • BEIJING, March 28- China's banking regulator has tightened up its scrutiny of the country's distressed asset managers, in a bid to crack down on improper bad debt transactions with commercial banks, an internal document reviewed by Reuters shows. China's asset management companies are prohibited from signing with banks any private agreements, including...

  • *More futures liquidity could boost China's sway on global mkts. SHANGHAI/ SINGAPORE March 28- China's mutual fund industry is pushing to develop investment products linked to local commodity futures, betting that plans to fight chronic oversupply in the country's mammoth resource sector will drive up prices for raw materials. Inflows from China's mutual...

  • BOSTON, March 24- Billionaire investor William Ackman, whose hedge fund is one the of the biggest investors in drug company Valeant, has been asked to supply information to U.S. legislators probing price hikes in the pharmaceutical industry. Ackman told investors in his Pershing Square Capital Management on Thursday that the firm received a request on Friday...

  • NEW YORK, March 24- A New York hedge fund founder who before turning age 30 lost nearly all of the roughly $57 million he oversaw in less than three weeks is expected to be sentenced to five years in prison after pleading guilty to fraud, a federal judge wrote. Owen Li, the founder of Canarsie Capital LLC, is also expected to be required to pay $56.8 million of...

  • LONDON, March 24- Blackrock said on Thursday it was testing new financial messaging app Symphony, the first big global asset manager to confirm it is moving ahead with the system designed to address concerns over security and costs of monitoring staff online. Blackrock is one of 18 large financial institutions who have invested around $170 million in Symphony,...

  • ZURICH, March 24- Credit Suisse Chief Executive Tidjane Thiam received 18.9 million Swiss francs in cash and share awards from the Swiss bank in 2015 even after requesting a 40 percent bonus cut, according to its annual report. For 2015, he received 4.57 million francs in total pay, 2.86 million francs of which was in bonuses. Thiam's predecessor as chief...

  • NEW YORK, March 24- Hedge funds may have taken too big a bite of Apple Inc.. Shares of the iPhone maker are one of the biggest bets among hedge funds, with 47 of them listing Apple among their ten largest holdings as of the end of 2015, according to a report from Goldman Sachs on March 18. Shares of Apple fell 6.5 percent on Jan. 27, the day after the company reported its...

  • *Crude prices fall below $40 a barrel. Louis Fed President James Bullard, a voting member of the Federal Open Market Committee, became the latest official to take a hawkish stance after he said on Thursday that another hike "may not be far off." "The outlook for most investors is caution," said Amir Madden, portfolio manager at asset management firm GAM in New York.

  • March 24- Survey by industry analytics firm Coalition based on banks' public disclosures and independent research:. *Goldman Sachs Group Inc kept top spot for a second straight with the highest revenue from commodities trading in 2015 out of the world's 12 largest investment banks. *Bank of America Merrill Lynch, Morgan Stanley and BNP Paribas were placed fourth...

  • IPO market is getting a new lease on life as more Wall Street banks and institutional investors turn to blank-check acquisition vehicles, once the domain of only a few underwriters and hedge funds, for better fortunes. As a result, Goldman Sachs Group Inc's biggest successfully completed IPO assignment so far this year is not a red-hot technology startup or a...