Diversified Financials Diversified Financial Services

  • Launched in 2014 by an acolyte of SAC Capital Advisors founder Steven A. Cohen, Folger Hill was one of the most prominent hedge funds to come on the scene. Kumin raised about $1.1 billion by telling investors its diverse array of stock market bets through talented managers meant Folger Hill would perform well in good markets and bad. As of mid-August, Folger Hill's...

  • Launched in 2014 by an acolyte of SAC Capital Advisors founder Steven A. Cohen, Folger Hill was one of the most prominent hedge funds to come on the scene. Kumin raised about $1.1 billion by telling investors its diverse array of stock market bets through talented managers meant Folger Hill would perform well in good markets and bad. As of mid-August, Folger Hill's...

  • TORONTO, Aug 19- Canada's main stock index closed a fraction lower on Friday as investors awaited bank earnings and more talk from the U.S. Toronto Stock Exchange's S&P/TSX composite index closed down 8.22 points, or 0.06 percent, at 14,687.46. Canada's biggest banks report third-quarter earnings starting with Bank of Montreal next Tuesday followed by Royal...

  • LONDON, Aug 16- Banks in Britain are on the verge of a price war to try to revive lending subdued by the Brexit vote and to combat pressures on profitability from ultra-low interest rates, which are likely to stay that way for longer. HSBC, Lloyds Banking Group, Barclays, Royal Bank of Scotland and smaller rivals have all rolled out new lending pushes since Britain...

  • TORONTO, Aug 11- The Canada Pension Plan Investment Board warned on Thursday of more uncertainty following Britain's decision to leave the European Union after the vote curbed gains in its investments during the last quarter. The CPPIB, which manages Canada's national pension fund, on Tuesday reported gross investment returns of 1.5 percent in the first...

  • Aug 5- Berkshire Hathaway Inc on Friday said its second-quarter profit rose 25 percent, helped by improvement in insurance underwriting, investment gains and the purchase of Precision Castparts Corp, Warren Buffett's largest acquisition. Net income for Omaha, Nebraska- based Berkshire rose to $5 billion, or $3,042 per Class A share, from $4.01 billion, or $2,442,...

  • Aug 5- Berkshire Hathaway Inc on Friday said its second-quarter profit rose 25 percent, helped by improvement in insurance underwriting, investment gains and the purchase of Precision Castparts Corp, Warren Buffett's largest acquisition. Net income for Omaha, Nebraska- based Berkshire rose to $5 billion, or $3,042 per Class A share, from $4.01 billion, or $2,442,...

  • *SocGen Q2 net income 1.46 bln euros vs forecast 1.2 bln. PARIS, Aug 2- France's biggest banks posted better-than expected earnings in the second quarter as their diversified business models helped mitigate the pressure from low interest rates and weak markets. Europe's banking index was up 1.8 percent on Wednesday, paring losses on Monday and Tuesday.

  • *PE purchases of UK firms down 83 pct this year- data. *U.S.-listed group goes against trend by buying UK cinemas. The referendum result, which caught financial markets by surprise, is making institutional investors have second thoughts about committing to new funds for private equity deals in Britain, according to people in the industry.

  • SIENA, Italy, July 8- In 1624, the Medici Grand Duke of Tuscany rushed to the defence of depositors of a bank that was by then already 152 years old, Monte dei Paschi di Siena, guaranteeing their savings at a time of economic crisis. Nearly 400 years later, Italian Prime Minister and fellow Tuscan Matteo Renzi aims to do something similar as the world's oldest bank and...

  • LONDON, July 3- Facing the prospect of their first UK recession, Britain's small specialist lenders could struggle to cope with a downturn, especially in the small and medium-sized business sector that is their lifeblood. The promises of the so-called challenger banks, many just a few years old, to improve customer choice and challenge the dominance of big High...

  • Market has another strong day

    A market update, with Ben Willis, Princeton Securities managing director.

  • *Canadian banks look outside of Canada for growth. *CIBC shares down 3 percent, Private Bancorp up 22 percent. TORONTO June 29- Canadian Imperial Bank of Commerce said it will buy Chicago- based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth management.

  • Europe isn't a free and fair market for financial services: CEO

    Dominic Johnson, CEO of Somerset Capital Management and chairman of New City Initiative, explains the difficulties of launching a fund in Europe.

  • June 13- New York state's employees' retirement fund earned a return on investment of just 0.19 percent in fiscal 2016, it said on Monday, its worst showing since the U.S. recession ended in 2009 and a worrying indicator for other funds. The fund's value also dropped for the first time in seven years to $178.1 billion as it paid out $10.9 billion in benefits during...

  • DUBAI, May 25- Saudi Arabia may need to change its currency's peg to the U.S. dollar if economic conditions shift, researchers at the Saudi central bank suggested in a paper that could shape debate among policymakers as the kingdom grapples with low oil prices. But the collapse of oil prices since 2014, which created a $100 billion state budget deficit, has fueled...

  • *CPPIB's global head Mark Machin to become CEO. TORONTO/ NEW YORK, May 19- Canada Pension Plan Investment Board's Chief Executive Mark Wiseman will leave to become the top executive overseeing BlackRock's stock-picking investors and funds, the firms said on Thursday. He has overseen investments including the $12 billion acquisition of GE Capital's private...

  • TORONTO, May 19- Canada Pension Plan Investment Board's Chief Executive Mark Wiseman will step down to take up a role with BlackRock, the world's biggest asset manager, CPPIB said on Thursday. Wiseman will be replaced by Mark Machin, who heads the fund's international operations. "I am pleased to assume the helm at a time when CPPIB is playing an increasingly...

  • SHANGHAI/ BEIJING, May 16- China's central bank is investigating the accuracy of non-performing loans data at banks, people with direct knowledge of the matter told Reuters on Monday, underlining policymakers' concerns about rising debt in the country. The People's Bank of China is looking into whether banks' asset quality is appropriately categorised and if...

  • *Q1 pretax profit $6.1 bln vs $4.3 bln avg expected by analysts. HONG KONG, May 3- HSBC reported a smaller-than-expected 14 percent drop in quarterly profit, as a surge in revenue at its commercial banking unit partly offset the weak trading business caused by the grim global market environment early in the year. HSBC reported on Tuesday a pretax profit of $6.1...