Diversified Financials Capital Markets

  • PARIS, Aug 3- AXA, Europe's second-biggest insurer, reported a 4 percent rise in net profit for the first half of 2016, boosted by proceeds from real estate disposals but held back by natural catastrophe costs and lower asset management revenue. Net income was 3.2 billion euros in the first half of 2016, an increase of 3 percent at constant exchange, rates and below...

  • BOSTON, Aug 2- Marcato International, an activist hedge fund that mainly bets on U.S. equities, returned 10.4 percent in July, handily beating the broader stock market index's gain, when the fund made two new investments. Last week, Taikang Life Insurance, run by Chen Dongsheng, who founded Chinese auction house China Guardian, took a 13.5 percent stake in Sotheby's.

  • FRANKFURT, Aug 2- Volkswagen AG and its former chief executive have asked a U.S. federal judge in California to dismiss lawsuits filed by American investors accusing the German automaker of deception involving its cheating on diesel emissions tests. District Judge Charles Breyer in San Francisco to throw out a class action securities complaint led by the...

  • BOSTON, Aug 2- Och-Ziff Capital Management Group on Tuesday reported a second-quarter loss after the largest publicly traded U.S. hedge fund company set aside $214.3 million to eventually settle bribery charges with the U.S. government. The company also said William Barr, a former U.S. attorney general, would join its board on Aug. 9. By Monday, assets had declined...

  • LONDON, Aug 1- Hedge funds have turned very bearish towards both crude and refined products over the last two months amid signs of an oversupply of gasoline. Hedge funds and other money managers added the equivalent of 56 million barrels of extra short positions in the three main Brent and WTI futures and options contracts in the week ending July 26.

  • SHANGHAI, Aug 2- China's funds regulator said on Monday it has canceled the licenses of over 10,000 funds, amid a crackdown on the country's poorly regulated fund management sector, which has been dogged by runaway managers and misappropriation of investments. The move comes after the hedge fund industry was thrown into disarray earlier this year as managers...

  • SHANGHAI, Aug 2- China's funds regulator said on Monday it has cancelled the licenses of over 10,000 funds, amid a crackdown on the country's poorly regulated fund management sector, which has been dogged by runaway managers and misappropriation of investments. The move comes after the hedge fund industry was thrown into disarray earlier this year as managers...

  • BUENOS AIRES, Aug 1- Argentina's securities regulator is "optimistic" that tax amnesty laws introduced by the new center-right government will boost investment in the local market, the body's head told Reuters in an interview on Monday. Financial instrument investment has long been light in Argentina, Latin America's third largest economy, and liquidity all...

  • Aug 1- Carl Icahn's Icahn Enterprises LP said on Monday that the billionaire investor's son, Brett Icahn, and David Schechter were no longer co-managers of the Sargon Portfolio, and would instead stay on as consultants for now. Brett Icahn and Schechter have been co-managing the portfolio since April 2010 and Icahn Enterprises said Monday their co-manager...

  • *Banks first want to see if UK retains single market access. *Non- UK customers could lose protection of the ring-fence. But the UK regulation- which also covers the European operations directly owned by British banks- was proposed in 2011, when there was no prospect of Britain quitting the bloc.

  • LONDON, Aug 1- Hedge funds have turned very bearish towards both crude and refined products over the last two months amid signs of an oversupply of gasoline. Hedge funds and other money managers added the equivalent of 56 million barrels of extra short positions in the three main Brent and WTI futures and options contracts in the week ending July 26.

  • SHANGHAI, Aug 1- China's funds regulator circulated draft rules that impose stricter controls over the country's guaranteed funds, The Economic Observer reported on Sunday. The Asset Management Association of China, the self-regulatory body that oversees private funds, is seeking opinions on a set of draft rules that would prevent some funds from...

  • BOSTON/ NEW YORK, July 29- It only took six months for some of the world's most prominent team-based hedge funds to go from winners to losers. Blackstone Group's Senfina Advisors, Citadel's Global Equities Fund and the Visium Global Fund were among the so-called multi-manager funds that cut into last year's sizable gains with deep losses over the first half of...

  • *Net inflows of $2.4 bln in wealth management Americas. ZURICH, July 29- UBS, Switzerland's biggest bank, has scrapped short-term guidance on profitability due to an increasingly murky outlook for financial markets, even though its second-quarter net profit fell much less than analysts had feared. Like many rivals, UBS is battling negative interest rates, a drop...

  • July 29- Credit Suisse Group AG, which exited its U.S. private wealth business last year, is building out a new investment banking group in the region to serve billionaires. Switzerland's second-biggest bank has hired Charlie Buckley from rival UBS Group AG to work with company founders and entrepreneurs, according to an internal memo reviewed by Reuters on...

  • TOKYO, July 29- Japan's public pension fund racked up losses of 5.3 trillion yen from its investments last fiscal year, its first full-year loss in five years, as the world's largest pension fund continued its efforts to diversify into riskier assets. The Government Pension Investment Fund's loss for the year through March was due to sharp falls in Japan's stock...

  • The dollar last traded at 103.28 yen, down 1.8 percent. Spot gold eased by 0.1 percent at $1,333.33 an ounce at 0740 GMT, on track for its second straight session of monthly gains, and was headed for its first weekly gain in three. "Maybe at this moment, the BOJ's decision is a bit supportive for gold," said Dominic Schnider of UBS Wealth Management in Hong Kong.

  • TOKYO, July 29- Japan's Government Pension Investment Fund, the world's largest pension fund, reported 5.3 trillion yen losses from its investments last fiscal year, its first full-year loss in five years. The loss for the year through March was due to sharp falls in Japan's stock market amid broader global market turmoil sparked by volatility in Chinese...

  • SHANGHAI, July 29- Chinese bond yields fell on Friday on news that regulators were planning to tighten rules on wealth management flows into equities, and as liquidity continued to return to the market after a sharp correction in the second quarter. Treasuries were flat for the week but a further rebound was seen in short-term debt, which was hammered during an...

  • China CSI300 stock index futures for August were flat at 3,193.6, 24.18 points below the current value of the underlying index and suggesting investors are expecting further losses. Among other moves, China is considering rules to restrict investments by small banks in the $3.5 trillion wealth management product industry, draft rules seen by Reuters...