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Diversified Financials Capital Markets

  • BOSTON, Dec 8- Fidelity Investments' $105 billion Contrafund is having a bad three-year run, but you would never know it by looking at its fees. The mutual fund's management fees have increased 25 percent to $614 million over the past three years despite investors pulling several billion dollars as its performance lagged the benchmark S&P 500 Index.

  • EDINBURGH, Dec 8- Outsourcing group Capita announced the sale of its asset management services arm alongside a second profit warning in three months on Thursday, exposing flaws in its strategy made worse by the Brexit vote and sending its share price crashing. That in turn was a result of a slowdown in new orders coming through as new customers hesitate to commit...

  • *Barclays aims to integrate corporate and investment bank in UK. *Will look to selectively hire in UK team. At the heart of the strategy is a plan to win more advisory business from British companies the bank already lends to, with Alisdair Gayne leading the charge as head of UK investment banking.

  • Chinese government dealing with balancing act: Expert

    China has been balancing economic growth with market liberalization, says Daryl Liew at REYL Singapore.

  • Chinese authorities still have ammo: Expert

    China's financial reforms have been positive and valuations are attractive, says Medha Samant at Fidelity International.

  • NEW YORK, Dec 7- BlackRock Inc is making leadership changes to its biggest mutual fund. The world's largest asset manager is replacing one of the top leaders on its $42 billion BlackRock Global Allocation Fund and adding three new portfolio managers, a move that comes as the fund's performance has lagged its rivals. Three other investors will get top billing,...

  • *EU investment banks need to merge with U.S., China rivals. Eric Knight, who founded the fund in 2002 and now has about $800 million under management, said that slimming down by cutting jobs and risk was not the answer to a progressive squeeze on margins driven by tighter regulation. "Is there a future for investment banks in Europe?

  • LONDON, Dec 7- Britain's competition watchdog has fined Pfizer a record 84.2 million pounds for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent. U.S. drugmaker Turing Pharmaceuticals, led at the time by hedge fund manager Martin Shkreli, caused outrage last year by raising the U.S. price of Daraprim, an old anti-infective drug, by more...

  • *Cuts profit targets for Asia-Pacific, wealth management. ZURICH, Dec 7- Credit Suisse on Wednesday pledged to cut another 1 billion Swiss francs in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money. Chief Executive Tidjane Thiam stuck with his strategy of focusing Switzerland's second-biggest bank...

  • A pedestrian passes in front of the Pfizer headquarters in New York City.

    Britain's competition watchdog has fined Pfizer a record 84.2 million pounds ($107 million) for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent.

  • LONDON, Dec 7- Britain's competition watchdog has fined Pfizer a record 84.2 million pounds for its role in ramping up the cost of an epilepsy drug by as much as 2,600 percent. U.S. drugmaker Turing Pharmaceuticals, led at the time by hedge fund manager Martin Shkreli, caused outrage last year by raising the U.S. price of Daraprim, an old anti-infective drug, by more...

  • *Cuts profit targets for Asia-Pacific, wealth management. ZURICH, Dec 7- Credit Suisse pledged to cut another 1 billion Swiss francs in costs and pared back profit targets amid challenging markets which have made it harder for banks to make money. In a statement ahead of its investor day, Credit Suisse lowered its operating cost base target for 2018 to below 17...

  • SHANGHAI, Dec 7- China stocks snapped a three-day streak of losses on Wednesday, helped by a rally in resources shares. Industry-leading blue-chips were still trading near recent lows after China's securities regulator warned about "barbaric" takeover deals by asset managers using illegal funds. China has selected 21 investment management institutions for...

  • BEIJING, Dec 7- China has selected 21 investment management institutions for its pension insurance fund, bringing it one step closer to investing up to $290 billion in its financial markets. The investment management institutions include some of the country's biggest asset managers, insurers and investment banks, such as China Asset Management Co., Ping An...

  • Why this investor is overweight EMs

    Jack McIntyre at Brandywine Global IM says that Trump doesn't want to lead with protectionism or a strong dollar, and this could bring relief to EMs.

  • BOSTON, Dec 6- Hedge fund manager Mick McGuire is taking his fight for change at casual restaurant chain Buffalo Wild Wings Inc directly to franchise owners, saying they could have better access to innovations and grow more if his ideas were implemented. The company's shares, down 0.5 percent at $169.95 in late afternoon trading on Tuesday, have risen 15 percent...

  • BOSTON, Dec 6- Hedge fund manager Mick McGuire is taking his fight for change at casual restaurant chain Buffalo Wild Wings Inc directly to franchise owners, saying they could have better access to innovations and grow more if his ideas were implemented. The company's shares, down 0.5 percent at $169.95 in late afternoon trading on Tuesday, have risen 15 percent...

  • BOSTON, Dec 6- Massachusetts, already a large investor in some of the world's biggest hedge funds, wants to hire an adviser to help find smaller managers that could improve the $63.2 billion state pension fund's risk and return profile. The Pension Reserves Investment Management Board on Tuesday voted to issue a request for proposals for advisers to assist in...

  • MOSCOW, Dec 2- Hackers stole more than 2 billion roubles from correspondent accounts at the Russian central bank and from accounts in commercial banks, the bank said on Friday, the latest example of an escalation of cyber attacks on financial institutions around the globe. Central bank official Artyom Sychyov discussed the losses at a briefing, saying that the...

  • NEW YORK, Dec 6- One of the world's most prominent investors, Bill Gross, predicted an end to the post-election stock rally, saying that Donald Trump's anti-globalization policies would restrict trade and reduce corporate profits over the long term. Gross, who oversees the $1.7 billion Janus Global Unconstrained Bond Fund, added that investors should brace for...