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Diversified Financials Capital Markets

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  • ISTANBUL, July 22- HSBC is set to agree to sell its Turkish business to Dutch lender ING Group for around $700 million- $750 million in the next few days, two people familiar with the matter told Reuters on Wednesday. Acquiring HSBC's business would allow ING to roughly double its around $15 billion of assets in Turkey, putting it on better footing in a highly...

  • NEW YORK, July 22- John McCormick has been on a mission for the past five years: to bring hedge funds to the masses. Traditional hedge funds, those lightly regulated investment pools open exclusively to large institutions and rich individuals, have been duds lately, trailing the U.S. stock market's performance every year since 2009 by an average of 10 percentage...

  • WASHINGTON— The 11 million Americans who receive Social Security disability face steep benefit cuts next year, the government said Wednesday, handing lawmakers a fiscal and political crisis in the middle of a presidential campaign. The trustees who oversee Social Security and Medicare said the disability trust fund will run out of money in late 2016. That...

  • July 21- James Rothenberg, chairman of U.S. fund manager Capital Group Cos Inc, died on Tuesday due to a heart attack, the company said in a statement. Rothenberg, who recently completed 45 years with the company, had served as vice chairman of the board and a portfolio manager of Growth Fund of America. Paul Schott Stevens, the president and chief executive of the...

  • Goldman bets on European stocks, steers clear of U.S. Tuesday, 21 Jul 2015 | 10:48 AM ET

    LONDON, July 21- With market jitters over Greece receding, Goldman Sachs is advising clients to load up on European stocks at the expense of U.S. assets. The investment bank upgraded its short-term view on European equities to "overweight" from "neutral" in a note dated July 20, which cited the recent deal to start negotiating a new Greece debt package as one of the...

  • July 20- Private equity firms Blackstone Group LP and Corsair Capital have agreed to acquire a majority stake in First Eagle Investment Management, valuing the company at around $4 billion including debt, First Eagle announced on Monday. Under the terms of the deal, private equity firm TA Associates is selling its entire stake in First Eagle and the family of...

  • LONDON, July 20- Hedge funds and other money managers have rarely been so bearish about the outlook for oil prices, according to the latest positioning data from the U.S. Commodity Futures Trading Commission. Hedge funds boosted short positions in futures and options linked to the price of U.S. crude to 138 million barrels by July 14, from 84 million four weeks...

  • LONDON, July 17- Amid all the uncertainty swirling around financial markets, one clear picture is emerging for investors: U.S. and UK interest rates will soon rise, while most of the rest of the world is easing monetary policy. Federal Reserve chair Janet Yellen and Bank of England governor Mark Carney this week gave their strongest indications to date that they...

  • NEW YORK, July 17- Japanese insurers including MS&AD Insurance Group Holdings Inc and Sompo Japan Nipponkoa Insurance Inc are seeking mergers with peers in the United States, as a declining population at home forces them to pursue markets that are growing overseas. Property and casualty insurers are particularly hungry for non-domestic acquisitions...

  • July 16- Blackstone Group LP, the world's largest alternative asset manager, reported a 62 percent slump in second-quarter earnings on Thursday, yet performance fee revenue generated from selling assets surpassed many analysts' expectations. But investors cheered as the New York- based firm declared its third highest quarterly dividend of 74 cents per share,...

  • July 16- Blackstone Group LP, the world's largest alternative asset manager, reported a 62 percent slump in second-quarter earnings on Thursday, blaming weak global stock market markets that weighed on the value of some of its holdings. The New York- based firm said economic net income, a metric of its profitability that takes into account the mark-to-market...

  • Blackstone shares were down 2 percent at $40.50 in premarket trading in New York. The New York- based firm said economic net income, a metric of its profitability that takes into account the mark-to-market valuation of its portfolio, was $508 million in the second quarter, down from $1.33 billion a year ago. During the quarter, Blackstone completed a $14 billion...

  • July 16- Blackstone Group LP, the world's largest alternative asset manager, reported a 62 percent slump in second-quarter earnings, blaming weak global equity markets that weighed on the value of some of its holdings. The New York- based firm said on Thursday economic net income, a metric of its profitability that takes into account the mark-to-market...

  • NEW YORK, July 15- Billionaire activist investor Carl Icahn on Wednesday lambasted BlackRock Inc, the world's largest asset manager, as an "extremely dangerous company" because of the prevalence of its exchange-traded fund products, which Icahn deems illiquid. "They sell liquidity," Icahn said in reference to BlackRock's ETF business. Icahn was speaking at the...

  • NEW YORK, July 15- Bank of America Corp Chief Executive Brian Moynihan has been hiring more sales staff, in areas ranging from commercial lending to wealth management, in his latest effort to boost revenue that has barely budged for years. Previously, Bank of America tried training individual employees to sell multiple products, but now it is focusing more on...

  • July 15- BlackRock Inc, the world's largest asset manager, posted a small rise in second-quarter profit as the company saw net outflows for the first time in nearly three years. Net outflows totaled $36.6 billion, with investors pulling out $7.3 billion from BlackRock's long-term funds. Ten of BlackRock's largest institutional clients have pulled $40 billion...

  • NEW YORK, July 15- Nelson Peltz, chief executive of hedge fund Trian Fund Management, said on Wednesday that losing a proxy battle with DuPont Co has proven to be a major blow to shareholders. "It has been a significant loss for shareholders," Peltz said at the CNBC Institutional Investor Delivering Alpha Conference in New York. Peltz also said that PepsiCo was...

  • July 15- BlackRock Inc, the world's largest asset manager, posted a small rise in second-quarter profit, as the company saw net outflows for the first time in nearly three years. New York- based BlackRock reported net income attributable to the company of $819 million, or $4.84 per share, for the quarter ended June 30, up from $808 million, or $4.72 per share, a year...

  • *Paulson expected to put pressure on Syngenta board. July 15- Hedge fund Paulson& Co has taken a stake in Syngenta AG and could push for the Swiss pesticide maker's board to accept a takeover offer from U.S. seed company Monsanto Co, people familiar with the matter said. Monsanto, the world's largest seed company, has made a $45 billion bid for Syngenta that the Swiss...

  • *China and Greece have imposed trading restrictions. Both China and Greece have taken steps in the last month to curb sell-offs in their stock markets by imposing trading restrictions. The APS fund is exposed to China and Horizon Growth is exposed to Greece.