TORONTO, July 31- Canadian Imperial Bank of Commerce has named wealth management head Victor Dodig as its next president and chief executive, replacing Gerry McCaughey who will retire in September.» Read More
July 31- Asset manager Legg Mason Inc's quarterly profit rose 51 percent, driven by increased assets under management and lower operating expenses. Net income attributable to the company rose to $72.2 million, or 61 cents per share, in the first quarter ended June 30, from $47.8 million, or 38 cents per share, a year earlier.
July 31- Asset manager Legg Mason Inc's quarterly profit more than doubled, driven by increased assets under management and lower operating expenses. Net income attributable to the company rose to $72.2 million, or 61 cents per share, in the first quarter ended June 30, from $47.8 million, or 38 cents per share, a year earlier.
NEW YORK- ARGENTINA'S KICILLOF SAYS HEDGE FUNDS REJECTED ARGENTINA'S OFFER.
NEW YORK- ARGENTINA'S KICILLOF SAYS DOES NOT MAKE SENSE TO HAVE DEAL WITH HEDGE FUNDS AND NOT OTHER HOLDOUTS.
NEW YORK- ARGENTINA'S ECONOMY MINISTER KICILLOF SAYS HEDGE FUNDS DO NOT WANT TO ASK STAY ON DEBT RULING.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
*Flows of Russian wealth to Singapore rising. *Banks in Singapore are clamping down on who they let in. New sanctions imposed by Washington and Europe over the Ukraine crisis have prompted firms such as VTB- Russia's second-largest bank by assets- and Gazprombank to look east for new sources of funding.
July 30- Franklin Resources Inc said on Wednesday investors withdrew $400 million from its Templeton municipal bond funds in the latest quarter, a trend that may continue in the short term on worries over Puerto Rico's chronic fiscal woes.
*Q2 post-tax ENI of 73 cents/ share vs estimated 74 cents. July 30- Carlyle Group LP said on Wednesday its second-quarter earnings doubled from a year earlier as one of its European buyout funds started paying performance fees, highlighting the growth potential of its private equity business in Europe.
July 30- Total global commodity assets under management rose to $325 billion in June 2014 from $317 billion in May 2014, Barclays Capital said on Wednesday. "We estimate that there was a small net inflow of around $300 million into commodity investments during June," the bank said.
NEW YORK, July 29- Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.
CLEVELAND, July 29- Casablanca Capital triumphed on Tuesday in its proxy battle with miner Cliffs Natural Resources Inc, preliminary estimates show, putting the hedge fund in a position to replace Cliffs' chief executive and sell off underperforming assets.
BOSTON, July 29- Hedge fund Elliott Management told investors that it added to its stake in Juniper Networks last quarter and sees opportunities in real estate securities in Europe, but it said little about two positions making headlines-- Argentina and EMC Corp..
NEW YORK, July 28- Argentina has fought in court for a dozen years against the claims of holdout investors in its defaulted debt, and Argentina has lost. Argentina defied court-ordered demands to pay all its bondholders by a June 30 deadline, and a 30- day grace period runs out this week.
NICOSIA, Cyprus— Cyprus' largest bank says it has bolstered its capital base by raising 1 billion euros through a private placement of new shares. Bank of Cyprus said in a statement late Monday that the new shares each valued at 0.24 euros went to institutional investors form Europe, North America and Russia.
TORONTO, July 28- Canada's Ontario Teachers' Pension Plan said on Monday it plans to increase its ownership of Britain's Bristol Airport from the current 49 percent as Australian asset manager Macquarie Group reportedly shops for buyers for its 50 percent stake.
*FTSEurofirst 300 down 0.2 pct, Euro STOXX 50 down 0.1 pct. *Ryanair, Reckitt outperform on earnings, dealmaking. LONDON/ PARIS, July 28- European stocks edged lower on Monday, with unspectacular U.S. data and new European sanctions against Moscow offsetting strong earnings updates from firms like Ryanair and spin-off talk from Reckitt Benckiser.
*FTSEurofirst 300 flat, Euro STOXX 50 up 0.1 pct. *Ryanair, Reckitt outperform on earnings, dealmaking. LONDON/ PARIS, July 28- European stocks traded flat on Monday, with strong earnings updates from firms like Ryanair and spin-off talk from Reckitt Benckiser balancing concerns over the implications of new international sanctions on Russia.
NEW YORK— New York City's pension funds ended the latest fiscal year with a record-high value of $160.5 billion, City Comptroller Scott Stringer said Monday. Stringer said the pension returns will save the city money in terms of its own pension contributions starting in fiscal year 2016, when the contribution will be reduced by $178 million.
In 2008, when the investment bank's exposure to toxic mortgage bonds brought it to the brink of collapse, JPMorgan Chase& Co rescued Bear Stearns and kept Greenberg on as vice chairman emeritus of its global wealth management business.