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Corporate Finance Corporate Assets

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  • WASHINGTON, June 21- Surging investment by Chinese companies in U.S. research labs is yielding a fast-growing trove of patents, part of a push to mine America for ideas to help China shift from being the world's factory floor to a driver of innovation. Even without a treaty, China is pouring capital into U.S. research as well as buying other assets.

  • Solving the riddle of weak late-day trading Monday, 15 Jun 2015 | 6:10 AM ET
    Traders work on the floor of the New York Stock Exchange.

    Stocks have been weak during the last half-hour of trade. As it turns out, that's when the biggest buyers of this rally walk away.

  • LONDON, June 10- HSBC's investment bank could shed more than a fifth of its clients and plans to reduce its credit and interest rates businesses by $100 billion over the next two years in its bid to improve profitability. Under a strategic shift announced on Tuesday, HSBC said it will reduce the assets at its investment bank by a third, or $140 billion, which will...

  • June 9- Boomerang Tube LLC, a maker of pipes and tubes for oil and natural gas companies, filed for Chapter 11 bankruptcy protection on Tuesday, becoming the latest victim of the slide in oil prices. St. Louis, Missouri- based Boomerang Tube, which was bought by Access Tubulars LLC in 2008, said it had total assets of about $299 million and total liabilities of about...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. HSBC will cut its assets by a quarter, or $290 billion on a risk adjusted basis, by...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC pledged a new era of higher dividends on Tuesday, laying out plans to slash nearly one in five jobs and shrink its investment bank by a third to combat sluggish growth across its sprawling empire. It will cut its assets by a quarter, or $290 billion on a risk adjusted basis by 2017,...

  • *Half job cuts to come from sale of Brazil, Turkey businesses. HONG KONG/ LONDON, June 9- HSBC will shed almost 50,000 jobs and take an axe to its investment bank, cutting the assets of Europe's biggest lender by a quarter in a bid to simplify and improve its sluggish performance. The cuts will leave HSBC with about 208,000 full-time equivalent staff by 2017, down from...

  • *HSBC to cut risk weighted assets by $290 bln. HONG KONG, June 9- HSBC will cut almost 50,000 jobs from its payroll, take an axe to its investment bank and shrink its risk weighted assets by $290 billion in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday. However the cuts, to be completed by 2017, will be followed by some hiring in...

  • *HSBC to cut risk weighted assets by $290 bln. *HSBC targets growth in Asia insurance, Guangdong province. HONG KONG, June 9- HSBC will take an axe to its investment bank and seek to cut up to $5 billion in costs in an effort to improve its sluggish performance, Europe's biggest bank said on Tuesday.

  • HSBC update won't be earth-shattering: IDC Monday, 8 Jun 2015 | 11:42 PM ET
    HSBC update won't be earth-shattering: IDC

    Cyrus Daruwala, managing director, Asia Pacific at IDC Financial Insights, says HSBC will likely "take the safe route" at Tuesday's strategy meeting.

  • Iceland to ease capital controls imposed since crash Monday, 8 Jun 2015 | 11:59 AM ET
    Reykjavik downtown, Iceland

    Iceland is to introduce a 39 percent exit tax on assets from its failed banks, as part of moves to lift capital controls.

  • REYKJAVIK, June 8- Iceland said on Monday it would impose a 39 percent tax on creditors wanting to take assets reclaimed from its failed banks out of the country, a first step to lifting capital controls that have been in place since its 2008 crash. But creditors with billions of dollars worth of assets frozen in three bankrupt lenders could launch legal...

  • Outflows since Bill Gross's abrupt departure from Pacific Investment Management Co on September 26 "have been worse than many had expected," Morningstar analysts said in their new report. The Pimco Total Return Fund alone shed more than an estimated $180 billion in net assets between mid-2013 and May 2015. David Schawel, vice president and portfolio manager of...

  • NEW YORK, June 2- The Pimco Total Return Active Exchange-Traded Fund posted net outflows of $53.9 million in May, ending the month with $2.6 billion in assets under management, according to Morningstar data on Tuesday. Pacific Investment Management Co, a unit of Germany's Allianz SE, had assets under management of $1.59 trillion as of March 31.

  • Outsized investment returns and strong inflows have seen Wellington's assets under management grow to $939 billion at the end of March from $834 billion at the end of 2013, putting it on track to join the exclusive club of money managers running more than $1 trillion by as early as this year. While smart stock picking has helped, the company's growth has also...

  • BRASILIA, May 15- Brazilian prosecutors said on Friday they have obtained court orders for the seizure of 980 million reais in assets of construction firms under investigation in a massive corruption scandal at state-run oil company Petrobras. A federal court ordered the seizure of 282 million reais in assets from one of Brazil's largest construction and...

  • *Non-core businesses, power stations could be sold. *Eskom has $17 bln funding gap till 2018. JOHANNESBURG, May 13- South Africa is considering either partially privatising state-owned utility Eskom or putting up some of its assets for sale in order to secure funding for the power producer and resolve an energy crisis, the Treasury said on Wednesday.

  • May 12- Patriot Coal Corp filed for bankruptcy protection on Tuesday, just 18 months after emerging from its previous Chapter 11, and said it was in negotiations with a potential buyer. The company listed assets and liabilities of more than $1 billion in its bankruptcy petition, which it filed in the U.S. Bankruptcy Court in the Eastern District of Virginia.

  • NEW YORK, May 5- Jeffrey Gundlach, chief executive of investment firm DoubleLine Capital, said on Tuesday he believes the U.S. DoubleLine is based in Los Angeles, and had $73 billion in assets under management as of March 31. It has attracted net inflows of money for 15 straight months, becoming one of the prime beneficiaries of outflows afflicting Allianz SE's...

  • May 4- The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals. On Monday, Pimco said investors yanked another $5.6 billion from the Pimco Total Return Fund last month, bringing its assets to $110.4 billion at end of April. Outflows from the flagship Pimco Total Return Fund,...