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Diversified Financials Capital Markets

  • 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,...

  • 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 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...

  • 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...

  • BOSTON, May 12- Hedge fund Passport Capital, which once grabbed headlines with triple digit returns, has been hit with fresh losses and its assets continue to shrink, the firm's founder told investors in a letter seen by Reuters on Friday. Assets at the San Francisco- based firm contracted to $2 billion at the end of April, half of what it had managed only a few years...

  • BOSTON, May 12- Asset manager BlackRock Inc on Friday said it voted in favor of a shareholder proposal calling on Occidental Petroleum to report on the impact climate change could have on the energy company's business, helping it to pass. An Occidental spokesman said via e-mail the shareholder resolution passed at the company's annual meeting, held in Houston,...

  • May 12- Music streaming service Spotify will carry out a direct listing on the New York Stock Exchange when it goes public later this year or early next year, a source familiar with the situation said on Friday. The move is a major test of the process of direct listing, which eliminates the need for a Wall Street bank or broker to underwrite an initial public offering...

  • Snapchat co-founders Bobby Murphy (CTO) and Evan Spiegel (CEO) ring the opening bell on March 2, 2017, at the NYSE in New York City as NYSE president Thomas Farley looks on.

    The IPO market has heated up, and despite Snap's dismal run since going public, tech deals don't appear to be slowing.

  • *Pimco achieves net inflows of 21 bln euros. FRANKFURT, May 12- German insurance group Allianz on Friday reported rising investment inflows at bond fund manager Pimco and stuck to its operating profit target for 2017.. Pimco had experienced several years of cash withdrawals in some of its main funds, including its flagship Pimco Total Return Fund.