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Diversified Financials Capital Markets

  • Those investors- who said in court filings that they own between 5 and 7 percent of the unsecured bonds- will argue in U.S. Bankruptcy Court in St. Louis that Peabody's reorganization plan should be rejected because it violates a bankruptcy statute requiring equal treatment for owners of the same securities. "This is absolutely theft from a small group of people...

  • Trump announced Tuesday that he is naming former brokerage firm executive J. Christopher Giancarlo as chairman of the Commodity Futures Trading Commission. If confirmed by the Senate, he would succeed Timothy Massad, a former Treasury Department official named by Obama who resigned after Trump's election. Trump has urged the loosening or elimination of...

  • NEW YORK, March 15- A federal judge has rejected PricewaterhouseCoopers LLP's bid to sharply restrict how the bankruptcy plan administrator for Jon Corzine's defunct brokerage MF Global Holdings Ltd pursues its $3 billion malpractice case against the auditor. District Judge Victor Marrero in Manhattan refused to force the administrator, which is seeking...

  • NEW YORK, March 15- The following table shows Morningstar data on inflows this year through February for so-called unconstrained funds at wealth management firms Guggenheim, Pioneer and TCW compared with the iShares Core U.S. Aggregate Bond Exchange-Traded Fund, which tracks the performance of the closely watched Bloomberg Barclays U.S.

  • NEW YORK, March 15- So-called unconstrained funds at wealth management firms Guggenheim, Pioneer and TCW have at least doubled the performance of the iShares Core U.S. Aggregate Bond Exchange-Traded Fund, which tracks the closely watched Bloomberg Barclays U.S. Aggregate Bond Index, over a five-year annualized period, according to Morningstar data.

  • ALMATY, March 15- Kazakhstan's state-run "bad bank" will buy 2.4 trillion tenge of bad loans from Kazkommertsbank, the country's biggest lender by assets, paving the way for a takeover by its closest rival, the central bank said on Wednesday. The state-run Problem Loans Fund, set up to act as a "bad bank," will buy from KKB assets linked to BTA, a former bank which has been...

  • PARIS, March 15- Pressure on France's Safran to rethink its proposed $9 billion takeover of Zodiac Aerospace intensified on Wednesday as a profit warning sent the target's shares tumbling and hedge fund TCI called for Safran's chairman to be ousted unless it abandons the deal. Zodiac shares were down 16 percent at 23.07 euros by 1259 GMT, well below Safran's...

  • ZURICH, March 15- EFG International is gearing up for a battle with Brazil's Grupo BTG Pactual SA over the value of BSI Bank, with the Swiss private bank now expecting to cut the purchase price by more than a quarter. EFG's acquisition of Swiss rival BSI from BTG Pactual last year helped it almost double in size, making it one of Switzerland's 10 biggest private banks...

  • RED BANK, N.J. _ Sutherland Asset Management Corp. on Tuesday reported fourth-quarter net income of $24.1 million, after reporting a loss in the same period a year earlier. On a per-share basis, the Red Bank, New Jersey- based company said it had profit of 83 cents. This story was generated by Automated Insights using data from Zacks Investment Research.

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has criticised plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to object to...

  • *Euro Disney defends terms of Walt Disney takeover. LONDON/ PARIS, March 14- An activist hedge fund has said it objects to plans by Walt Disney to take full control of debt-laden Paris theme park operator Euro Disney, according to a letter seen by Reuters. Paris- based CIAM, which owns 1.4 percent of Euro Disney shares, has written to the board of the French company to...

  • *Iceland lifts controls imposed at height of crisis. REYKJAVIK, March 14- Iceland lifted its remaining capital curbs on Tuesday, ending more than eight years of controls on businesses and citizens put in place after its banks collapsed during the financial crisis. Iceland hopes the move will open the way for investment by Icelandic pension funds abroad and...

  • *Record profit led by Asia, UK profit slides. LONDON, March 14- Prudential said its UK fund management arm M&G does not need to make acquisitions to bolster its competitiveness, as the British insurance group reported record profits on Tuesday. Consolidation, which also saw UK- based Henderson Global Investors agree a $6 billion tie-up with U.S. manager Janus...

  • Record profit led by Asia, UK profit slides. LONDON, March 14- Prudential said its UK fund management arm M&G does not need to make acquisitions to bolster its competitiveness, as the British insurance group reported record profits on Tuesday. Consolidation, which also saw UK- based Henderson Global Investors agree a $6 billion tie-up with U.S. manager Janus...

  • *Iceland lifts controls imposed at height of crisis. REYKJAVIK, March 14- Iceland lifted its remaining capital curbs on Tuesday, ending more than eight years of controls on businesses and citizens put in place after its banks collapsed during the financial crisis. Iceland hopes that the move will open the way for investment by Icelandic pension funds abroad and...

  • LONDON, March 13- Hedge funds and other money managers had barely started liquidating their record bullish position in crude oil futures and options before prices tumbled on March 8. Hedge funds still held a net long position in the three major Brent and WTI futures and options contracts amounting to 874 million barrels at the close of business on March 7.

  • NEW YORK, March 13- JPMorgan Chase& Co has sent some wealth management customers letters this month notifying them that they could be moved to the firm's self-directed platform soon ahead of a pending Labor Department retirement regulation, the bank said on Monday. Clients of Chase Wealth Management, Private Bank and J.P. Morgan Securities who had individual...

  • TRENTON, N.J.— Activist investor Bill Ackman has sold his hedge fund's stake in beleaguered drugmaker Valeant Pharmaceuticals International Inc., saying the investment took up a "disproportionately large amount of time and resources." The move announced Monday comes after Valeant's latest disappointing financial results and forecast led a number of...

  • NEW YORK, March 13- JPMorgan Chase& Co has sent some wealth management customers letters this month notifying them that they will be moved to the firm's self-directed platform soon ahead of a pending Labor Department retirement regulation, the bank said on Monday. While implementation of the U.S. Labor Department's fiduciary rule may ultimately be delayed, the...

  • LONDON, March 13- Brevan Howard Asset Management, a British hedge fund, has sought an injunction to prevent Reuters publishing a story that the firm says is based on confidential information. A spokesman for Brevan Howard, one of Europe's biggest hedge fund management firms, did not immediately respond to a request for comment on Monday. Under Britain's legal...