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Asset Management and Custody Banks

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  • NEW YORK, July 15- Late last year, Goldman Sachs reached an important milestone: its investment management business surpassed $1 trillion in client money under supervision.

  • *Portugal jitters seen as sign of things to come. LONDON, July 15- Investors are bracing for more "mini-crises" in the euro area's periphery- like that triggered by Portugal's biggest listed bank last week- after a two-year rally that has left stocks and bonds looking pricey.

  • *Bursting of bubble wiped some $50 billion off UAE market. ABU DHABI/ DUBAI, July 15- Fifty billion dollars may be enough to trigger major changes to regulation of the Arab world's second biggest stock market.

  • *Generali to book net loss of 100 mln euros from disposal. MILAN, July 14- Brazilian investment bank Grupo BTG Pactual is buying Swiss private bank BSI for a knock-down 1.5 billion Swiss francs, extending an overseas push by the Sao Paulo- based lender.

  • MILAN, July 14- Brazilian investment bank Grupo BTG Pactual is buying Swiss private bank BSI for a knock-down 1.5 billion Swiss francs, extending an overseas push by the Sao Paulo- based lender controlled by billionaire financier AndrĂ© Esteves.

  • NEW YORK, July 11- Wells Fargo& Co is angling to cash in on the U.S. energy boom, as the fourth-largest U.S. bank looks for new avenues of revenue growth to overcome a slump in mortgage lending, its traditional driver of profits.

  • Fred Buenrostro admitted that he intentionally conspired with a former California Public Employees' Retirement System board member and others to accept bribes and devise a fraudulent scheme involving Calpers' investments.

  • NEW YORK, July 10- Stocks slumped worldwide on Thursday as investors flocked to safe-haven government bonds on fears problems at Portugal's biggest listed bank could herald wider problems for riskier assets. European stock markets were hit hardest as trading in Banco Espirito Santo was halted after a 19 percent drop.

  • Fidelity to cut nearly 500 printing and mailing jobs Thursday, 10 Jul 2014 | 10:34 AM ET

    BOSTON, July 10- Fidelity Investments, the No. 2 U.S. mutual fund company, told employees this week it will cut about 460 jobs, or 1 percent of its workforce, at its printing and mailing operations in Kentucky and Texas.

  • July 9- Struggling apparel and accessories retailer American Apparel Inc said it has reached a deal with hedge fund Standard General LP and founder Dov Charney to remake its board and bolster finances.

  • LONDON, July 8- Energy exchange-traded products attracted almost $200 million in June as investors moved into crude oil after civil war broke out in Iraq, the latest monthly flows data from asset manager BlackRock showed.

  • July 7- Longview Asset Management LLC became the latest PetSmart Inc shareholder calling for the company's board to consider selling itself, even as the retailer said on Monday it was reviewing potential changes in its capital structure.

  • LONDON, July 6- A flurry of initiatives by China to open up its currency, stock and bond markets inside and outside the country has failed so far to allay international investor concerns about performance, accessibility and liquidity.

  • Chinese assets warm, not hot for Western investors Sunday, 6 Jul 2014 | 5:00 AM ET

    LONDON, July 6- A flurry of initiatives by China to open up its currency, stock and bond markets inside and outside the country has failed so far to allay international investor concerns about performance, accessibility and liquidity.

  • *PetSmart rallies as hedge fund seek sale. NEW YORK, July 3- Wall Street's holiday-shortened session ended with multiple records on Thursday, with the Dow topping 17,000 for the first time after the June jobs report came in much stronger than expected.

  • Strong gains in its top holdings, including Canadian Pacific, Air Products& Chemicals and Burger King Worldwide helped fuel the rise. Ackman has spent much of June trying to convince pharmaceutical company Allergan, in which he is the biggest investor, to sell itself to rival Valeant Pharmaceuticals, with which he is working to negotiate a deal.

  • *PetSmart shares rise as much as 15 pct. July 3- Activist hedge fund Jana Partners LLC said it planned to ask PetSmart Inc to explore a sale, underlining troubles at the pet product retailer. Jana Partners reported a 9.9 percent stake in PetSmart, making it the company's largest shareholder.

  • July 3- Activist hedge fund Jana Partners LLC said it planned to ask PetSmart Inc to explore a sale, sending the pet product retailer's shares up 15 percent. Jana Partners reported a 9.9 percent stake in PetSmart in a regulatory filing, making it the company's largest shareholder.

  • July 3- Activist hedge fund Jana Partners LLC said it planned to ask PetSmart Inc to explore a sale, sending the pet products retailer's shares up 13 percent in premarket trading.

  • Earlier Standard General had loaned its American Apparel shares to Charney, according to regulatory documents, allowing him to boost his stake in the company from about 27 percent to 43 percent. Charney had hoped to gain majority control, but American Apparel countered with an anti-takeover plan that prompted him to change his strategy.