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Diversified Financials Capital Markets

  • *Lloyds has rebuilt as UK focused lender. LONDON, May 17- Lloyds Chief Executive Antonio Horta-Osorio travelled at the front of the British Airways plane last week, enjoying the extra leg room in the business section on his way from London to the bank's annual meeting in Edinburgh. Lloyds said on Wednesday that Britain had sold its last remaining stake in the bank,...

  • *Dubai's DSI tumbles on Q1 net loss. DUBAI, May 16- Shares of Egypt's EFG Hermes and Talaat Mostafa diverged sharply on Tuesday on news that MSCI will swap the shares in its main Egyptian index, while Gulf equity markets were firm with the Brent oil price at $52 a barrel. Arqaam Capital analysts predicted passive net fund inflows of $33 million into EFG due to the index...

  • *Riyadh aims to raise around $200 bln via privatisation scheme. DUBAI, May 16- One of the world's largest privatisation programmes is drawing foreign investment banks and private equity firms to Saudi Arabia, despite the prospect of low fees and an uncertain regulatory environment. "We see a lot more opportunities in Saudi Arabia because for the first time the...

  • LONDON, May 16- Anglo-South African financial services firm Old Mutual is selling 17 million shares in U.S. fund firm Old Mutual Asset Management, it said on Tuesday, cutting its minority stake in the firm by a further 15 percent. Old Mutual is selling 17.3 million shares in OMAM in a secondary offering at $14.55 per share, it said in a statement.

  • The logo for the Government Of Singapore Investment Corporation (GIC) is pictured in the company headquarters in Singapore

    Singapore sovereign fund GIC, which invested in UBS during the global financial crisis, said it cut its stake in the Swiss bank at a loss.

  • ZURICH, May 15- Singapore sovereign wealth fund GIC Private Limited, which invested in UBS to support it during the 2008/ 09 global financial crisis, said it has cut its stake in the Swiss bank at a loss, partly because of changes in the lender's strategy and business. GIC, which manages more than $100 billion globally, said it has reduced its stake to 2.7 percent from...

  • LONDON, May 15- Hedge funds had become increasingly bearish towards crude oil by the middle of last week, leaving them vulnerable to a short squeeze with OPEC's next meeting coming up on May 25. In fact, hedge fund positioning in crude is nearly identical to before the last OPEC meeting held on Nov. 29, which was followed by a fierce short-covering rally.

  • SAN FRANCISCO/ NEW YORK, May 15- Snap Inc jumped more than 8 percent on Monday in its second strongest day since the social media company's initial public offering, boosted by filings showing several institutional investors had owned its shares. Coatue Management LLC, Soros Fund Management LLC, Goldman Sachs Group Inc and Jana Partners LLC on Monday joined the...

  • ZURICH, May 15- Singapore sovereign wealth fund GIC Private Limited, which invested in UBS to support it during the 2008/ 09 global financial crisis, said it has cut its stake in the bank at a loss, partly because of changes in the lender's strategy and business. GIC, owned by the government of Singapore, was one of the first sovereign funds to pump billions into Western...

  • NEW YORK, May 15- Several big-name hedge fund investors trimmed their stakes in financial companies in the first quarter as hopes for immediate tax cuts and loosening of regulations after President Donald Trumps victory in November began to fade. Boston- based Adage Capital Management cut its position in Wells Fargo& Co, which has come under fire for its sales...

  • The U.S. Securities and Exchange Commission said former managing directors James Im and Kee Chan fraudulently generated more than $750,000 of profit by having "deliberately misled and lied to customers" whose trades they handled, on numerous occasions beginning in 2010.. The SEC said Im has not settled its civil case, and asserted his constitutional right...

  • The U.S. Securities and Exchange Commission said Kee Chan, a former Nomura managing director, "deliberately misled and lied to customers" on numerous occasions from 2010 to March 2012, including by making up "colorful but entirely fictitious exchanges" with customers on the other side of the trades. Chan, 46, of Manhasset, New York, generated hundreds of thousands...

  • The U.S. Securities and Exchange Commission said Kee Chan, 46, of Manhasset, New York, on numerous occasions from 2010 to March 2012 "deliberately misled and lied to customers" about bond prices. The SEC filed its complaint in Manhattan federal court. Last week, former Nomura traders Michael Gramins, Tyler Peters and Ross Shapiro went on trial in Hartford,...

  • May 15- Canada Pension Plan Investment Board, the country's biggest public pension fund, said on Monday it would invest $500 million in a joint venture with Indian property developer IndoSpace. The joint venture, IndoSpace Core, will buy and develop logistics facilities in India, the companies said. The joint venture will buy 13 industrial and logistics parks...

  • LONDON, May 15- Hedge funds had become increasingly bearish towards crude oil by the middle of last week, leaving them vulnerable to a short squeeze with OPEC's next meeting coming up on May 25. In fact, hedge fund positioning in crude is nearly identical to before the last OPEC meeting held on Nov. 29, which was followed by a fierce short-covering rally.

  • May 5- Global banks have warned they could move thousands of jobs out of Britain to prepare for the expected disruption caused by the country's exit from the European Union, endangering London's status as a major financial center. Financial services firms need a regulated subsidiary in an EU country to offer their products across the bloc, and this could lead...

  • SAN FRANCISCO, May 12- A widespread view on Wall Street this week was that Snap Inc fell short of revenue forecasts when it posted its first quarterly results as a public company, triggering a big selloff in its shares. Analysts affiliated with 10 underwriters forecast on average that revenue would hit $138.4 million, $30 million below the estimate of the...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • NEW YORK/ BOSTON, May 12- Some of the biggest U.S. mutual and hedge funds, including Daniel Loeb's Third Point and Daniel Och's Och-Ziff Capital Management, owned stakes in Snap Inc, parent of the wildly popular Snapchat messaging app, at the end of March, regulatory filings on Friday showed. The quarterly disclosures of asset manager stock holdings, in what are known...

  • BOSTON, May 12- BlackRock Inc said on Friday that it voted in favor of a successful shareholder proposal calling for more climate change reporting by Occidental Petroleum Corp, in the first sign the world's largest asset manager was backing up its tough new talk on environmental matters. "Todays historic vote puts the oil and gas industry on notice the climate is...