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Diversified Financials Capital Markets

  • NEW YORK, Oct 28- Asset manager Apollo Global Management LLC reported stronger-than-expected third-quarter earnings on Friday as sturdy financial markets buoyed its credit and buyout investments. Economic net income, a key measure for U.S. private equity firms that accounts for unrealized investment gains or losses, totalled $230.8 million after taxes,...

  • BOSTON/ LOS ANGELES, Oct 27- Chipotle Mexican Grill Inc has turned to high-profile investment bankers and lawyers to help defend against activist investor William Ackman, according to two people familiar with the matter on Thursday. Investment banks Goldman Sachs Group Inc and Morgan Stanley, as well as law firm Wachtell, Lipton, Rosen& Katz LLP, are now working...

  • *Comcast falls on PT cuts from Deutsche, Barclays. Oct 27- The S&P 500 and the Dow were back in positive territory as healthcare stocks outdid a drag from consumer discretionary stocks. Still it is not very robust, "said Michael Scanlon, managing director of Manulife Asset Management.

  • *Comcast falls on PT cuts from Deutsche, Barclays. Oct 27- U.S. stocks reversed course late Thursday morning as weak results from several industrial and consumer discretionary companies eclipsed gains from healthcare stocks. Still it is not very robust, "said Michael Scanlon, managing director of Manulife Asset Management.

  • *Wall Street average bond trading revenue up 49 pct. FRANKFURT, Oct 27- Deutsche Bank benefited from the rising tide in bond trading in the third quarter of 2016, but as it struggles with the protracted overhaul of its investment bank, Wall Street rivals are stealing a march. The volatile markets between July and September, sparked by Britain's vote to leave the...

  • Oct 27- Financial advisory and asset management firm Lazard Ltd's quarterly profit tumbled 71.8 percent as costs rose. Net income attributable to Lazard fell to $112.54 million in the third quarter ended Sept. 30 from $398.52 million a year earlier. Earnings per share fell to 85 cents from $2.99.

  • *Takes further 600 mln stg PPI charge. *Shares up 1.5 pct by 0847 GMT. LONDON, Oct 27- Barclays on Thursday reported a forecast-beating bounce in third-quarter profits to 1.7 billion pounds, benefiting like its U.S. rivals from a bumper quarter for its investment banking business.

  • Oct 26- Morgan Stanley said on Wednesday it would allow its wealth management clients to choose the way they pay the firm for retirement accounts covered by a new fiduciary rule. The Department of Labor rule, announced in April, sets a standard for brokers who sell retirement products and requires them to put clients' best interests ahead of their own bottom line.

  • Oct 26- Morgan Stanley said on Wednesday it would retain choices in how its wealth management clients, who receive advice from financial advisers, pay for retirement accounts covered by a new fiduciary rule. The company's wealth management clients will have the choice of paying commissions or asset-based fees in retirement accounts subject to the new...

  • NEW YORK, Oct 26- U.S.-based stock mutual funds reported the largest outflows in five years, Investment Company Institute data showed on Wednesday, adding to a poor year of sales for the funds. Some $16.9 billion moved from stock mutual funds in the seven days through Oct. 19, more than in any other week since August 2011, the trade group's data showed. billion.

  • A long period of outperformance of shares with lower volatility has helped to give rise in recent years to what amounts to a new investment style, low volatility, with more than $15 billion flowing into this type of mutual fund and exchange-traded fund in the first seven months of the year, according to Morningstar data. A recent period of lagging returns, both in...

  • *FTSE 100 closes 0.9 percent lower. LONDON, Oct 26- Britain's top share index hit a three-week low on Wednesday, with hotel operator Whitbread falling on a raft of negative broker comments and Antofagasta dragging down miners after a disappointing earnings update. Basic resources stocks were on the back foot, with the UK mining index down 1.4 percent, pressured by...

  • The influential state-run newspaper Global Times said late on Tuesday in its English-language edition that announcement from the Ministry of Human Resources and Social Security's decision to proceed with the plan has triggered concerns over the management of the pension funds. "Managing the pension could be a problem since the funds are currently in the...

  • STOCKHOLM, Oct 26- Telecoms gear maker Ericsson picked Swedish businessman and board member Borje Ekholm to take over as chief executive on Wednesday as the firm grapples with cost cuts and an industry downturn. Ekholm, 53, served for a decade as CEO of the Wallenberg family-backed investment firm Investor AB and is currently CEO of Investor AB subsidiary...

  • BOSTON, Oct 25- Nick Graziano, a former top executive at hedge fund Corvex Management, has obtained early-stage financing from Constellation Seeding, putting his new hedge fund on track to start trading on Nov. 1, a person familiar with the matter said on Tuesday. Greenwich, Connecticut- based Venetus Partners LP plans to invest in mid-sized North American...

  • BOSTON, Oct 25- Nick Graziano, a former top executive at hedge fund Corvex Management, has obtained early-stage financing from Constellation Seeding, putting his new hedge fund on track to start trading on Nov. 1, a person familiar with the matter said on Tuesday. Greenwich, Connecticut- based Venetus Partners LP plans to invest in mid-sized North American...

  • Oct 24- BlueBay Asset Management LLP named Anahita Firouzbakht as director, consultant relations. Based in London, she will report to Cenk Turkinan, partner and head of institutional sales and consultants. Previously, Firouzbakht worked at Pictet Asset Management, where she was vice president in the global consultants team.

  • BEIJING, Oct 24- China's banking regulator plans to allow local governments to set up more asset management companies as part of a broader effort to manage corporate debt and reduce the growing volume of troubled bank loans that pose a risk to the economy. The China Banking Regulatory Commission is relaxing rules that only allow one local AMC per province, three...

  • NEW YORK, Oct 21- The dramatic shift to online shopping that has crushed U.S. department stores in recent years now threatens the investors who a decade ago funded the vast expanse of brick and mortar emporiums that many Americans no longer visit. Wells Fargo estimates that about $38 billion of these loans were taken out by retailers, bundled into commercial...

  • Oct 20- Altice USA, the cable operator that Netherlands- based Altice NV put together by acquiring Cablevision and Suddenlink Communications, is drawing up plans for a potential initial public offering, according to people familiar with the matter. Altice USA, which is now valued at between $25 billion and $30 billion, plans to invite investment banks to make...