CNBC's Bertha Coombs reports on the fallout between Pimco's Bill Gross and his former co-CEO Mohamed El-Erian. According to Reuters, Gross claimed to have evidence El-Erian wrote a Wall Street Journal article detailing their deteriorating relationship.» Read More
NEW YORK, Feb 5- Pimco's Bill Gross, manager of the world's largest bond fund, said on Wednesday that the lower U.S. government deficit is slowing credit growth, a phenomenon that could hurt economic growth and risk assets.
Pimco rose 1.35 percent in January after posting its worst annual loss since 1994 last year, preliminary data from Morningstar showed on Monday.
NEW YORK, Feb 3- The Pimco Total Return Fund, the world's largest bond fund run by Bill Gross, rose 1.35 percent in January after posting its worst annual loss since 1994 last year, preliminary data from Morningstar showed on Monday.
"We thought he would be my successor ... That's not going to be the case," Pimco co-founder Bill Gross said.
Mark Kiesel, Virginie Maisonneuve, Scott Mather and Mihir Worah, currently managing directors at Pacific Investment Management Co., will join Dan Ivascyn and Andrew Balls as deputy chief investment officers.
NEW YORK, Jan 29- Pimco, the world's largest bond fund manager, said on Wednesday the firm had appointed four additional deputy chief investment officers ahead of CEO Mohamed El-Erian's departure.
BOSTON, Jan 23- When Pimco co-founder Bill Gross' heir apparent abruptly stepped down this week, the news illustrated just how reliant the company is on its star manager, an uncomfortable fact for investors who worry the 69- year-old has not done enough to find a replacement.
*IBM, Coach fall after earnings. IBM shares lost 3.3 percent to $182.24 and were the biggest drag on both the Dow and S&P 500 indexes. Norfolk Southern Corp jumped 6.4 percent to $94.39 as one of the best performers on the S&P 500. The railroad posted a 24 percent rise in quarterly income that beat Wall Street expectations.
*IBM, Coach fall in premarket after earnings. *IBM shares lost 3.9 percent to $181.10 before the opening bell. *Coach Inc tumbled 7.6 percent to $48.55 in premarket trading after it said sales in North America fell further in the final quarter of 2013, as it lost share in the handbag business to fast-growing rivals such as Michael Kors Holdings Ltd and Kate Spade.
FRANKFURT, Jan 21- Allianz late on Tuesday said Mohamed El-Erian, chief executive officer and co-chief investment officer at its asset management unit Pacific Investment Management Company, has resigned, but would stay on the Allianz International Executive Committee.
SAN FRANCISCO/ NEW YORK, Jan 12- Stubbornly weak inflation is shaping up as the wild card for U.S. monetary policy makers this year, with top Federal Reserve officials stumped by why it has lingered so low for so long and at odds as to what to do about it.
Bill Gross, Pimco founder & co-CIO, discusses its index products, and where it¿s putting its money in equities.
Bill Gross, Pimco founder & co-CIO, explains why he likes the Mexican peso.
LONDON, Jan 10- As the era of money printing draws to a close, the prospect of a cycle of rising interest rates over the next couple of years appears daunting for investors and households so used to cheap credit.
Pimco's Total Return Fund saw its assets sink by $41.1 billion in 2013, as U.S. Treasuries bets went south
NEW YORK, Jan 2- The Pimco Total Return Fund, the world's largest bond fund, had a negative return for 2013 of nearly 2 percent, its first annual loss in 14 years, as fears of a reduction in the Federal Reserve's bond-buying sent Treasury prices lower, preliminary data from Morningstar showed on Thursday.
NEW YORK, Dec 19- When shareholder activist Carl Icahn turned up the heat on Apple in October, demanding a massive $150 billion share buyback, bond investor Bill Gross wasn't having any of it.
NEW YORK, Dec 9- As the calendar closes down on 2013, many U.S. money managers are finding themselves in an unfamiliar position: selling some of the bond funds that have long been mainstays of their clients' portfolios.
CHICAGO, Dec 9- There is a growing consensus that U.S. stocks, as well as stocks around the world, are going to catch a tailwind going into 2014.. The Vanguard Total World Stock Index ETF owns more than 5,000 stocks, but has its top holdings in mega-cap American companies like Apple Inc, Exxon Mobil Corp and Google Inc..
Pimco's co-CIO discusses market strategy and how his firm has priced the fixed-income market.