GO
Loading...

Asset Management and Custody Banks

More

  • Jan 23- General Electric Co reported a 9 percent rise in quarterly industrial profit on Friday as its businesses that sell power-generating turbines and jet engines helped offset weak sales in its oil and gas unit. "It's going to be an albatross... as long as energy prices stay low," said Tim Ghriskey, chief investment officer of Solaris Asset Management.

  • *UPS shares fall after outlook, Starbucks up on results. NEW YORK, Jan 23- U.S. stocks fell modestly on Friday, pressured by some disappointing results from major multinational companies which offset optimism triggered by the European Central Bank's recent decision to buy bonds and boost euro zone growth. United Parcel Service Inc gave a fourth-quarter...

  • Oil demand is still strong  Friday, 23 Jan 2015 | 5:40 AM ET

    At Davos, Hendrik du Toit, CEO of Investec Asset Management Ltd discusses Saudi Arabia and his own predictions when it comes to oil prices.

  • NEW YORK— A batch of mixed earnings reports Friday helped push the stock market to its first day of losses this week. Shares of tissue and diaper maker Kimberly-Clark dropped after the company's earnings fell short of expectations and it gave a disappointing outlook. "Our view is that the market is poised to have a reset to reflect what we think is a lower growth...

  • BOSTON, Jan 22- Janus Capital Group Inc's new star bond fund manager also turns out to be one of the fund firm's top investors. Shares of the Denver company rose 11 percent on Thursday after fourth-quarter earnings came in above expectations with the help of new hire Bill Gross, even as it acknowledged that half the money in his fund came from Gross himself.

  • FRANKFURT/ LONDON, Jan 22- Irish cement maker CRH and a consortium led by Blackstone are battling for assets which Lafarge and Holcim must sell ahead of their planned merger, several people familiar with the matter said. France's Lafarge and Swiss peer Holcim announced merger plans last year, hoping to cut costs and tackle overcapacity and weak demand.

  • BOSTON, Jan 22- Warning to mutual fund investors: the tax man is coming. U.S. investors in stock funds will take a big tax hit this year on capital gains that could top $300 billion after portfolio managers exhausted most of their loss reserves to offset several years of stock market advances. It's what you keep, " Boston- based Eaton Vance, which has nearly $300 billion...

  • Janus profit up after Gross helps bring inflows Thursday, 22 Jan 2015 | 11:30 AM ET
    Bill Gross during CNBC interview

    Denver asset manager Janus Capital Group said fourth-quarter profit rose 22 percent after hiring of star bond fund manager Bill Gross.

  • NEW YORK— Royal Bank of Canada plans to boost its services for wealthy clients by paying about $5.4 billion in cash and stock to buy U.S.-based City National. City National is a Los Angeles wealth management company and lender that serves high net worth individuals and businesses. City National said it has $32.6 billion in assets and manages or administers...

  • BOSTON, Jan 22- Asset manager Janus Capital Group said on Thursday that fourth-quarter profit rose 22 percent after its hiring of star bond fund manager Bill Gross helped it reach its first quarter of net deposits since 2009.. Denver- based Janus reported net income of $46.7 million, or 24 cents per share, compared with $38.3 million, or 21 cents per share, a year...

  • BOSTON, Jan 22- Denver asset manager Janus Capital Group said fourth-quarter profit rose 22 percent after its hiring of star bond fund manager Bill Gross helped it reach its first quarter of net deposits since 2009.. Janus on Thursday reported net income of $46.7 million, or 24 cents per share, compared with $38.3 million, or 21 cents per share, a year earlier.

  • European shares pause for breath before ECB decision Thursday, 22 Jan 2015 | 6:44 AM ET

    PARIS/ LONDON, Jan 22- European shares paused on Thursday after a sharp five-day rally as investors waited to see the size and shape of a bond-buying programme the European Central Bank is expected to unveil later. Euro zone banks have been among the top gainers ahead of today's ECB meeting, with Societe Generale, UniCredit and Mediobanca all up about 11 percent in...

  • BOSTON, Jan 22- Warning to mutual fund investors: the tax man is coming. U.S. investors in stock funds will take a big tax hit this year on capital gains that could top $300 billion after portfolio managers exhausted most of their loss reserves to offset several years of stock market advances. It's what you keep, " Boston- based Eaton Vance, which has nearly $300 billion...

  • Uber raises $1.6 billion in financing from Goldman Sachs Wednesday, 21 Jan 2015 | 5:32 PM ET

    NEW YORK— Popular ride-hailing app Uber has raised $1.6 billion in a deal with Goldman Sachs wealth management clients. Goldman Sachs spokeswoman Andrea Raphael says the financing comes in the form of a bond that can later be converted into stock when Uber goes public. That puts it in the ballpark of public companies such as DirecTV and Kraft Foods.

  • Uber to raise $1.6 billion in convertible debt-source Wednesday, 21 Jan 2015 | 4:02 PM ET

    Jan 21- Online ride-sharing company Uber Technologies Inc has raised $1.6 billion in convertible debt from wealth management clients of Goldman Sachs Group Inc, a person familiar with the matter told Reuters. The U.S. car service, which allows people to summon rides at the touch of a button, plans to use the money to build its presence in international markets,...

  • Northern Trust beats Street 4Q forecasts Wednesday, 21 Jan 2015 | 7:45 AM ET

    CHICAGO— Northern Trust Corp. shares jumped Wednesday after the wealth management firm reported a much better-than-expected fourth-quarter profit. Analysts surveyed by Zacks Investment Research were anticipating earnings of 81 cents per share. Northern Trust posted revenue of $1.13 billion in the period, also topping forecasts.

  • LONDON/ BOSTON, Jan 20- COMAC Capital is returning money to outside investors after suffering heavy losses on a currency trade last week, becoming the second hedge fund in less than a week to take dramatic steps after being battered by the Swiss franc's unexpected surge. The London- based firm's $1.2 billion COMAC Global Macro fund lost 8.0 percent when the Swiss...

  • NEW YORK, Jan 20- Pacific Investment Management Co said in its 2015 Asset Allocation Outlook report on Tuesday that it has placed an overweight position on global equities, particularly European and Japanese equities, and is underweight on global government bonds and other securities that reflect an exposure to interest rates. U.S. equities, following...

  • *Average actively managed fund down 14.5 pct in 2014. LONDON, Jan 18- After one of the worst years in memory for commodity funds, even the few managers who found a way to make money last year say they expect a difficult start to 2015.. "It's the worst place to be, but a long/short fund still has a lot of opportunities," said Christian Gerlach, portfolio manager at Swiss&...

  • BOSTON, Jan 16- Eric Mindich's $8.5 billion hedge fund, Eton Park Capital Management, is now ready to pick through the debt of beaten-up energy companies, an area it avoided last year as the price of oil tumbled. Eton Park dropped mortgage companies Fannie Mae and Freddie Mac with a big profit before a U.S. judge threw out a lawsuit filed by shareholders to prevent the...