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  • Crude rout worsens, but bond funds remain confident Wednesday, 20 Jan 2016 | 2:56 PM ET

    *Managers see oil rising to $60, from below $30. NEW YORK, Jan 20- Big bond investors who have bet on high-yield oil producers are sticking to losing bets, waiting for a turnaround in the price of crude, even though their performance has suffered and fund assets have shrunk as oil has plunged. These investors said they were maintaining most of their exposure to bonds of...

  • **Bank of America Corp No. 2 U.S. bank by assets Energy exposure assumed at 2.4 percent of total loans. "Energy portfolio stress analysis shows $30 oil for 9 quarters would result in about $700 million of losses." "If oil were $25 for sustained period instead of $30, estimated $600 million cost of credit in first half of 2016 could double.

  • MELBOURNE, Jan 15- Global miner BHP Billiton said on Friday it will write down the value its U.S. shale assets by $7.2 billion on a bleak outlook for oil and gas prices, cementing expectations it will be forced to cut its dividend for the first time in over 25 years. "Simply put, the company can't afford to maintain its dividend policy without taking the balance sheet...

  • LONDON, Jan 14- If the first two weeks are anything to go by, this is going to be an ugly year for nickel producers. Canada's Sherritt International and Japan's Sumitomo Corp have just announced massive write-downs against their Ambatovy nickel assets in Madagascar. The total impairment will be $2.4 billion on a 100 percent basis, according to Sherritt, based on a...

  • *Fourth-qtr EPS $1.32 vs. est. Jan 14- JPMorgan Chase& Co, the biggest U.S. bank by assets, reported a better-than-expected quarterly profit for the final quarter of the year as a tight lid on expenses and a smaller legal bill made up for sluggish revenue growth. U.S. banks, like their global counterparts, have had a tough year as falling oil prices and worries about...

  • UPDATE 1-KaloBios Pharmaceuticals files for bankruptcy Wednesday, 30 Dec 2015 | 10:27 AM ET

    Dec 30- KaloBios Pharmaceuticals Inc, which fired chief executive Martin Shkreli earlier this month, filed for Chapter 11 bankruptcy on Tuesday. The drugmaker listed both its assets and liabilities in the range of $1 million to $10 million in its filing with the U.S. bankruptcy court for the District of Delaware. Martin Shkreli gained notoriety when, as the chief...

  • BOSTON, Dec 23- In the months before the blowup of Third Avenue's junk bond fund in early December, investors and financial advisors called the New York- based investment company to voice their concerns about the growing percentage of hard-to-trade, illiquid assets in the fund's portfolio. "I would call up and they would say,' We're under control, we have plenty of...

  • BOSTON, Dec 17- Third Avenue's Focused Credit Fund built up a $200 million cash position in the days before its collapse, but that was not enough to meet redemptions because it could not sell even its most liquid assets. New York- based Third Avenue, which shocked Wall Street with its move to shut down the junk bond fund on Dec. 9, described the final days of its...

  • STOCKHOLM, Dec 17- National Electric Vehicle Sweden, which bought the assets of bankrupt Saab Automobile, announced a 78- billion-yuan deal on Thursday to supply 150,000 electric cars to Chinese leasing firm Panda New Energy. The agreement marks a big breakthrough for Nevs, which bought Saab's assets in 2012 and exited corporate reorganization procedures in...

  • "In particular, in almost all cases, banks voluntarily provided liquidity where they were not committed to, ultimately leading in most cases to absorption of all the vehicles or bringing their assets onto the bank's balance sheet," the Basel committee said. The Basel committee said its proposals focused on how to identify and measure "step-in" risk.

  • BOSTON, Dec 14- Billionaire hedge fund manager Marc Lasry on Monday backed a junk bond mutual fund hemorrhaging assets at his Avenue Capital Group as jittery investors exit high-yield bonds amid a market rout. Investors have taken note that Lasry's $884 million Avenue Credit Strategies Fund is run by the same portfolio manager who in 2009 helped launch the...

  • BOSTON, Dec 14- Illiquid assets at Third Avenue Management's junk-bond fund skyrocketed before it imploded last week, underscoring an opaque corner of risk in the mutual fund industry that corporate governance experts worry is not policed by outside directors. The biggest meltdown of a mutual fund since the 2008 credit crisis happened as the U.S. Securities...

  • NEW YORK, Dec 10- U.S.-based stock funds posted $8.6 billion in net outflows during the week that ended Dec. 9, Lipper data showed on Thursday, marking the category's worst outflows since October. Tjornehoj noted the example of the Columbia Acorn Fund, which he said paid a distribution representing 35 percent of its net assets. U.S. stock ETFs took in $3.2 billion in...

  • Dec 10- ConocoPhillips, the largest U.S. independent oil company, plans to reduce capital spending by 25 percent next year and sell more non-core assets as it looks to shore up its finances amid a prolonged slump in oil prices. ConocoPhillips expects to spend a bulk of next year's budget on U.S. shale fields in Texas and North Dakota, and on drilling operations in...

  • *Will trim 150 billion euros in assets by 2020. AMSTERDAM, Dec 9- Dutch cooperative bank Rabobank plans to lay off nearly a fifth of its workforce to boost profit and prepare for tougher European banking guidelines, it said on Wednesday. The bank said it would shed 9,000 of its 47,000 staff by 2018 and would cut 150 billion euros worth of assets from its balance sheet...

  • HSBC looks to global loan book to boost profits Monday, 7 Dec 2015 | 5:32 PM ET

    NEW YORK, Dec 7- HSBC is looking to boost investment banking profits by packaging more of its loans into bonds and selling them to investors in the United States. "Given our global footprint, we are able to originate assets from all over the world, repackage them, and then offer them to the U.S. investor base," said Thierry Roland, HSBC's head of global banking and markets...

  • Dec 7- Fuhu Holdings Inc, a maker of kid-friendly computer tablets, has filed for Chapter 11 bankruptcy protection, according to a court filing on Monday. The El Segundo, California- based startup, which Forbes magazine called America's most promising company in 2014, said it had assets and liabilities of $10 million- $50 million. The case is in U.S. Bankruptcy Court,...

  • BRASILIA, Dec 4- Brazil's troubled investment bank Grupo BTG Pactual is considering the sale of a series of assets to interested investors to improve its liquidity but has not signed any deals yet, the bank said on Friday in a securities filing. Earlier on Friday, BTG Pactual SA said it had secured a 6 billion-real lifeline from a deposit guarantee fund backed by...

  • LONDON/ SAO PAULO, Dec 4- Grupo BTG Pactual SA Chairman Persio Arida said in a letter to investors that he is "now comfortable" with the investment bank's liquidity position and vowed to push for further sales of assets over the weeks to come. In a letter to clients, Arida said that initial actions by the São Paulo-based bank's new management have been aimed at...

  • Starboard pushed Yahoo to sell core business, again Friday, 4 Dec 2015 | 6:00 AM ET
    Starboard pushed Yahoo to sell core business, again

    The activist investor renewed its call for Yahoo to abandon plans to spin off its stake in Alibaba.