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Asset Management and Custody Banks

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  • LONDON, Oct 9- Big price swings in the foreign exchange market are back and currency funds are reaping the benefit after years of poor returns as central bank cash suppressed the volatility on which they depend. Laith Khalaf, a strategist at investment group Hargreaves Lansdown, said he could not recall a month since the 2008 financial crisis when a currency fund...

  • HONG KONG, Oct 9- The bailout of domestic bondholders of Chinese solar equipment producer Chaori shows the government is determined to shield its rapidly growing corporate bond market in a slowing economy, analysts and traders say. State-owned China Great Wall Asset Management and a Shanghai- based investment firm will also guarantee 880 million yuan of the...

  • NEW YORK, Oct 8- U.S. stocks soared on Wednesday, with major indexes posting their biggest one-day jumps of 2014 after the Federal Reserve reassured investors that its first interest rate hike would not come until it deemed the economy could withstand it. Market, and the labor market is still too squishy for the Fed to be raising rates anytime soon, "said Jim...

  • US STOCKS-Wall St jumps 1 pct after Fed minutes Wednesday, 8 Oct 2014 | 2:49 PM ET

    NEW YORK, Oct 8- U.S. stocks rallied 1 percent on Wednesday, jumping in a volatile session after the Federal Reserve reassured investors that the first interest rate hike would not come before the economy could support it. The Fed has said that it would not raise rates for a "considerable time," and in the minutes from its Sept. 16-17 meeting the U.S. central bank...

  • *Deutsche Bank sees the euro falling to $0.95 by 2017. PARIS/ LONDON, Oct 8- The recent sharp slide in the euro and commodity prices is set to provide tailwind for European companies struggling against economic weakness, and soon break a streak of earnings downgrades that has already lasted 3-1/ 2 years. However, the euro's 10 percent drop in the past five months, and...

  • SAO PAULO/ BRASILIA, Oct 7- President Dilma Rousseff's strategy of slamming bankers and playing up class divisions may give her the edge in this month's election but it further strains relations with business leaders just as Brazil's stagnant economy badly needs fresh investment. The leftist incumbent, who led the first round of voting on Sunday and now faces...

  • Oct 7- An affiliate of Brookfield Asset Management got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash on Tuesday after a judge rejected complaints the auction for the bankrupt complex was tainted. "I have heard evidence to satisfy me that the sale to Brookfield should be confirmed," said U.S. Bankruptcy...

  • Oct 7- An affiliate of Brookfield Asset Management on Tuesday got court approval to buy Atlantic City, New Jersey's shuttered Revel Casino Hotel for $110 million in cash after a judge rejected complaints the auction for the bankrupt complex was tainted. The losing bidder, Glenn Straub of Florida, objected because he said the auction was unfair.

  • UPDATE 1-Pimco's outflow headaches only just beginning Tuesday, 7 Oct 2014 | 12:31 PM ET

    Pimco hasn't said how much money has been withdrawn since fund manager Bill Gross quit on Sept. 26 to join Janus Capital. Outflows "will tend to be elevated over the next few months" said Jeff Tjornehoj, head of Americas research at Lipper, a Thomson Reuters company, who said Gross's exit is "the last straw" for some institutional investors. Morgan Stanley said that the...

  • Hong Kong shares rise again as street protests fade Tuesday, 7 Oct 2014 | 4:15 AM ET

    HONG KONG, Oct 7- Hong Kong shares finished higher for a third day in a row on Tuesday, with investor confidence recovering as pro-democracy demonstrations eased in the wake of a meeting between protest leaders and government officials. The leading percentage winner among H-shares was China Cinda Asset Management Co, which spiked 4.5 percent after Goldman...

  • Pimco hasn't said how much money has been withdrawn since fund manager Bill Gross quit on Sept. 26 to join Janus Capital. Outflows "will tend to be elevated over the next few months" said Jeff Tjornehoj, head of Americas research at Lipper, a Thomson Reuters company, who said Gross's exit is "the last straw" for some institutional investors. Morgan Stanley said that the...

  • TOKYO, Oct 7- Japan's $1.2 trillion public pension fund, the world's largest, will delay a highly anticipated decision on shifting its portfolio allocations to November or later, people familiar with the process said on Tuesday. The asset reallocation by the Government Pension Investment Fund, which is still expected to increase the giant fund's buying of...

  • Oct 6- Point72 Asset Management LP, the renamed SAC Capital Advisors LP founded by billionaire Steven A. Cohen, said it will reorganize its equities business into seven units along sector and geographic lines. SAC Capital Advisors agreed to pay $1.8 billion to resolve criminal and civil probes, in what the U.S. Department of Justice said was the largest insider...

  • NEW YORK, Oct 6- When Chris Costello wanted to test his new online 401 advice service called blooom, he asked his sister if she would let him peek under the hood of her account. The difference can be more than 3 percent a year on returns or up to 80 percent over 25 years, according to a recent study by benefits consultant Aon Hewitt and 401 advice service Financial...

  • BOSTON, Oct 6- Sahm Adrangi, who runs small hedge fund Kerrisdale Capital, told Wall Street on Monday he believes satellite communications company Globalstar Inc's business is worthless, sending its stock tumbling roughly 25 percent. Renting out the same mid-town Manhattan auditorium where prominent activist investor William Ackman has unveiled some of...

  • YOUR MONEY-Five ways to get help with your 401(k) Monday, 6 Oct 2014 | 2:22 PM ET

    NEW YORK, Oct 7- When Chris Costello wanted to test his new online 401 advice service called blooom, he asked his sister if she would let him peek under the hood of her account. The difference can be more than 3 percent a year on returns or up to 80 percent over 25 years, according to a recent study by benefits consultant Aon Hewitt and 401 advice service Financial...

  • Bill Gross says happy to get back to investment roots Saturday, 4 Oct 2014 | 6:45 PM ET
    Bill Gross

    "Managing money is in my blood," Bill Gross, who is the co-founder of Pacific Investment Management Co., told Barron's this weekend.

  • Oct 4- Bill Gross, in his first interview since quitting asset manager Pimco, told Barron's magazine he was "uniquely exuberant" about giving up management responsibilities and was excited to get back to his investment roots. "Managing money is in my blood," Gross, who is the co-founder of Pacific Investment Management Co., told Barron's this weekend.

  • FRENCH MAGISTRATES BASED POTENTIAL FINE ON 12.2 BLN EURO OF FRENCH NATIONALS' ASSETS UNDER MANAGEMENT BY UBS- JUDICIAL SOURCE.

  • Oct 3- Bond star Bill Gross will commence his new gig at Janus Capital Group Inc with modest needs- a trader and someone to deal with clients- as he takes over a tiny fund with the hopes of making a big splash. "It's unlikely that Janus will ever match that level of support, raising the question of how successful Gross can be with fewer resources," Morningstar Inc analyst...