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Diversified Financials Capital Markets

  • HONG KONG, Nov 4- In the checkered history of foreign-sino joint ventures, Deutsche Bank's 30 percent stake in Beijing- based Harvest Fund Management has proven a savvy investment- and may provide the German bank with a cushion as it faces a big penalty for allegedly misselling mortgage-backed securities in the United States. Established in 1999 and with around...

  • SINGAPORE, Nov 4- The founder of ARA Asset Management Ltd, which manages S $30 billion in Asian property assets, is teaming up with Warburg Pincus and other investors to buy out the real estate fund manager, sources familiar with the matter said on Friday. ARA Group's CEO and founder John Lim, who owns 19 percent of the company, is leading the buyout, said the sources, who...

  • NEW YORK, Nov 4- Tensions between Ultratech, Inc and one of its largest shareholders got so high that by the spring, the chief executive was calling the investor a "cockroach" and refusing to meet with him. T. Rowe Price, historically the most outspoken of the big active managers, is currently pushing Oracle Corp to improve its $9.3 billion offer for cloud storage...

  • In a letter to Wells Fargo Chief Executive Tim Sloan, Senators Elizabeth Warren, Ron Wyden and Robert Menendez questioned the bank's disclosures about those employees' dismissals in required regulatory filings. The letter is the first indication that customers of the brokerage business, known as Wells Fargo Advisors, may also have been affected.

  • SYDNEY, Nov 4- Insolvent Australian industrial group Arrium Ltd's U.S. based Moly-Cop division has been sold to private equity firm American Industrial Partners for $1.23 billion, two sources close to the deal said, ending a drawn out sale process. Moly-Cop, which makes steel balls to grind ore and operates mostly in the United States and Latin America, also...

  • NEW YORK, Nov 3- Goldman Sachs Group Inc has settled a 2011 lawsuit claiming the investment bank fraudulently induced a bond insurer to guarantee payments on the doomed Abacus collateralized debt obligation ahead of the financial crisis. ACA Financial Guaranty Corp claimed Goldman and the hedge fund headed by John Paulson tricked it into insuring the CDO,...

  • TORONTO, Nov 3- Real Matters, a provider of real estate industry data, has raised C $41 million in an equity funding round and pushed its plan to go public to the first quarter of 2017, according to two sources familiar with the situation. The latest fundraising, which was a secondary offering led by investment bank BMO Capital Markets, will help drive growth at the...

  • TORONTO, Nov 3- Real Matters, a provider of real estate industry data, has raised C $41 million in an equity funding round and pushed its plan to go public to the first quarter of 2017, according to two sources familiar with the situation. The latest fundraising, which was a secondary offering led by investment bank BMO Capital Markets, will help drive growth at the...

  • Nov 3- Goldman Sachs Group Inc has launched a new exchange traded fund that mimics the most popular stock bets made by hedge funds, the bank said on Thursday. The new ETF is based on a popular research report put out by Goldman analysts Ben Snider and David Kostin in the Wall Street bank's research division. Both types of products are marketed to Main Street...

  • PARIS, Nov 3- France's financial prosecutor has requested a trial for HSBC Holdings and its Swiss private banking unit on suspicions it helped customers dodge taxes in 2006-2007, a source familiar with the matter told Reuters. "We take note of the recommendation... and will continue to defend ourselves vigorously," HSBC said in an emailed comment to Reuters.

  • *End-September assets under management 375 bln stg. LONDON, Nov 3- Schroders, Britain's biggest independent listed fund manager, reported a 9.1 percent rise in third-quarter assets on Thursday, boosted by investment and currency gains after a slide in the value of sterling. The firm, which can trace its history back 200 years, is the latest asset manager to get a...

  • LONDON, Nov 2- A former fund manager at the London division of asset manager BlackRock Inc on Wednesday pleaded guilty to two counts of insider dealing in a London court. Mark Lyttleton, 45, admitted buying shares shortly before public announcements about EnCore Oil Plc and Cairn Energy after working on deals or on the basis of conversations with colleagues, the...

  • TOKYO, Nov 2- The U.S. presidential election is unlikely to be a major risk for financial markets as Congress is likely to put a brake on many policies, whoever wins, the fixed income chief investment officer of JPMorgan Asset Management said on Wednesday. Global financial markets were roiled by signs the U.S. presidential election race was tightening just days...

  • LONDON, Nov 2- A former fund manager at the London division of asset manager BlackRock Inc on Wednesday pleaded guilty to insider dealing in a London court. Mark Lyttleton was in September charged with three counts of insider dealing relating to trading in equities and a call option between October and December 2011. A spokesman for the Financial Conduct...

  • BOSTON, Nov 1- Billionaire hedge fund manager Daniel Loeb on Tuesday told clients that "idiosyncratic opportunities" have helped boost returns this year as a string of constant surprises has shaped markets, adding that more may be in store. With next week's U.S. presidential election looming large, Loeb's Third Point hedge fund wrote to clients in a letter seen by...

  • OTTAWA/ TORONTO, Nov 1- The Canadian government will set up an infrastructure bank and give it access to C $35 billion to help fund major projects that might otherwise not get built, Finance Minister Bill Morneau said on Tuesday. Morneau told the House of Commons that the proposed bank- which Ottawa hopes will be up and running next year- would attract as much as C $4 to...

  • OTTAWA, Nov 1- The Canadian government will set up an infrastructure bank and give it access to C $35 billion to help fund major projects that might otherwise not get built, Finance Minister Bill Morneau said on Tuesday. Morneau told the House of Commons that the proposed bank- which Ottawa hopes will be up and running next year- would attract as much as C $4 to C $5 in...

  • BOSTON/ LOS ANGELES, Nov 1- Two smaller investors called on Tuesday for replacing Chipotle Mexican Grill Inc Chairman Steve Ells with an independent director, signaling more pressure only weeks after prominent activist William Ackman took a stake in the burrito chain. Amalgamated Bank and CtW Investment Group, which works with union-sponsored pension funds...

  • HONG KONG, Nov 1- Standard Chartered Plc said Hong Kong's securities regulator is investigating its role as a joint sponsor of an initial public offering in 2009 and could take unspecified action against the British lender's Hong Kong unit. The disclosure of the probe on Tuesday by Standard Chartered comes days after Swiss bank UBS also said Hong Kong's...

  • SYDNEY, Nov 1- Australia's increasingly protectionist stance is dissuading Chinese and other foreign investors from bidding in major asset sales, political and corporate advisers say, potentially reducing competition and hurting prices. The New South Wales state government's decision last month to accept a $12.5 billion offer from local pension funds...