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Asset Management and Custody Banks

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  • Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • Brookfield bids for Atlantic City's Revel Casino - WSJ Tuesday, 30 Sep 2014 | 1:24 PM ET

    Sept 30- An affiliate of Brookfield Asset Management has topped Florida real estate developer Glenn Straub's $90 million bid for the bankrupt Revel Casino Hotel in Atlantic City, the Wall Street Journal reported, citing sources.

  • BOSTON, Sept 30- Third Point LLC, the hedge fund run by Daniel Loeb that is known for pushing companies to perform better, has taken a "significant" stake in eBay Inc and has had discussions with its chief executive officer, a source familiar with the matter said on Tuesday.

  • BOSTON, Sept 30- Hedge fund manager Daniel Loeb's Third Point LLC has taken a "significant" stake in online marketplace EBay Inc and had discussions with its chief executive officer, a source familiar with the matter said on Tuesday. The company announced earlier on Tuesday that it agreed to spin off its PayPal unit.

  • NEW YORK, Sept 30- U.S. Treasuries have oscillated from weakness on Friday to gains on Monday amid concerns that asset manager Pimco may need to liquidate positions if investor redemptions increase after the departure of co-founder Bill Gross.

  • *Sisi hails Suez Canal expansion as flagship project. CAIRO, Sept 30- In his first 100 days in office, Egyptian President Abdel Fattah al-Sisi has made a fast start on economic reform: slashing costly fuel subsidies, raising taxes and devising infrastructure projects to secure long-term revenues and ease unemployment.

  • NEW YORK/ BOSTON Sept. 30- Vanguard Group and BlackRock Inc could be prime destinations for hundreds of billions of dollars in assets that may flee Pimco in the wake of the sudden exit of Bill Gross, the celebrated "Bond King" of U.S. mutual funds.

  • Sept 30- Bill Gross's sudden departure from Pimco and the Total Return Fund he ran for 27 years was the last straw for Jim Phillips, president of Retirement Resources, a Peabody, Massachusetts- based firm that advises 401 plans with $50 million to $100 million in assets.

  • *Allianz CEO Diekmann says "fully committed" to Pimco. FRANKFURT, Sept 29- Allianz said on Monday it remained fully committed to its Pimco unit after the shock exit of co-founder Bill Gross and had no plans to step up oversight of the world's biggest bond investor despite months of turmoil that has hit the German insurer's shares.

  • *Allianz says Gross departure does not change Pimco relationship. FRANKFURT, Sept 29- German insurer Allianz says it has no plans to increase oversight of its California- based investment unit Pimco after the shock departure of co-founder Bill Gross sent shares in the Munich- based parent tumbling at the end of last week.

  • Bank of America Corp was recently questioned by U.S. regulators about the potential legal and reputational risks from the maneuver, the newspaper said, citing a spokesman for the Federal Reserve Bank of Richmond.

  • Allianz leadership challenged as Pimco's Gross exits Friday, 26 Sep 2014 | 3:42 PM ET

    *Allianz shareholders call for stable leadership. *Contract of Allianz CEO, others up for renewal. FRANKFURT, Sept 26- German insurer Allianz suffered a humiliating blow on Friday with the resignation of renowned investor Bill Gross as leader of Pimco, the asset manager Allianz relies on for one fourth of its operating profit.

  • NEW YORK, Sept 26- Bill Gross, the bond market's most renowned investor, quit Pimco for distant rival Janus Capital Group Inc on Friday, the day before he was expected to be fired from the huge investment firm he co-founded more than 40 years ago.

  • BOSTON/ NEW YORK, Sept 26- Janus Capital Group shares surged 38 percent on Friday as investors bet that famed bond manager Bill Gross will bring his old star power to the small mutual fund company, even though his last months at Pimco were tainted by infighting and heavy investor outflows.

  • Bill Gross, who built Pimco into a $2 trillion asset manager and became one of the world's best-known bond investors, quit the firm he co-founded on Friday after his flagship fund suffered its 16th straight month of outflows and amid a Securities and Exchange Commission probe into whether one of his funds artificially inflated returns.

  • NEW YORK, Sept 26- Jeffrey Gundlach, who runs bond firm DoubleLine Capital, an investment firm that has been a major competitor of Pimco, told Reuters on Friday that he and Bill Gross met last week to discuss a possible role for Gross at DoubleLine.

  • NEW YORK/ LONDON, Sept 26- Gold fell on Friday as a dollar-driven rally encouraged by U.S. economic growth dimmed bullion's investment appeal, sending the metal's prices toward a key support level at $1,200 an ounce. Bullion posted its fourth consecutive weekly loss, its longest losing streak since April 2013, after the U.S.

  • Sept 26- Michigan officials on Friday signed off on four bond issues totaling $1.1 billion that would fund Detroit's exit from the biggest-ever municipal bankruptcy.

  • Bill Gross, who built Pimco into a $2 trillion asset manager and became one of the world's best-known bond investors, quit the firm he co-founded on Friday after his flagship fund suffered its 16th straight month of outflows and amid a Securities and Exchange Commission probe into whether one of his funds artificially inflated returns.

  • NEW YORK, Sept 26- Bill Gross, one of the bond market's most renowned investors, on Friday quit Pimco, the huge investment firm he co-founded more than 40 years ago and with which his name has been effectively synonymous, for Janus Capital Group, a distant rival in the asset management arena.