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Asset Management and Custody Banks

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  • Haruhiko Kuroda

    Bank of Japan Governor Haruhiko Kuroda played down concerns his burst of monetary stimulus would create asset-price bubbles even as it delivered an immediate pay-off in global markets, with government bond yields at a record low, the yen hitting a 3-1/2 year trough and stocks surging to multi-year highs.

  • 'Like a Funeral': Cyprus Bank Counted Down Brutal Death Wednesday, 3 Apr 2013 | 5:41 AM ET
    Bank of Cyprus, also known as Laiki

    The death of Laiki, also known as Cyprus Popular Bank, was brutal. Board members said they had fought to the bitter end.

  • Breaking Ground: Stockton Bankruptcy Is Approved Monday, 1 Apr 2013 | 3:48 PM ET

    It's official: Stockton, Calif., will become the nation's most populous city to enter into bankruptcy protection after getting clearance from a federal judge on Monday.

  • Stakes Are High as Judge Weighs Stockton Bankruptcy Monday, 1 Apr 2013 | 12:20 PM ET

    The Chapter 9 bankruptcy case for Stockton, Calif., is being closely watched nationally. At issue: Does federal bankruptcy law trump the California law that says debts to the state pension fund must be honored?

  • Fugitive Hedge Fund Manager Arrested in Italy Sunday, 10 Mar 2013 | 5:36 AM ET

    German hedge fund manager Florian Homm, who had been a fugitive for more than five years, was arrested in Italy on U.S. fraud charges, according to a statement from the U.S. attorney's office in Los Angeles.

  • Carl Icahn Takes a 12.9% Stake in Herbalife Thursday, 14 Feb 2013 | 7:16 PM ET
    Carl Icahn, billionaire investor and chairman of Icahn Enterprises Holdings LP.

    Carl Icahn bought 14 million shares of Herbalife, making a major bet against Pershing Square's Bill Ackman, who is short the stock. The two had an epic showdown on CNBC last month .

  • Big Hedge Funds Fueled Apple's Share Plunge Thursday, 14 Feb 2013 | 3:38 PM ET
    The Apple Store in Los Angeles, California.

    Some of the biggest hedge funds that helped make Apple a stock market darling lost faith and dumped their stakes in the fourth quarter, fueling the massive drop in the iPhone maker's share price.

  • Three of Dell's largest investors joined Southeastern Asset Management on Friday in objecting to a $24.4 billion buyout of the No. 3 PC maker led by Chief Executive Michael Dell, sources said, as opposition grows to the largest buyout since the start of the financial crisis.

  • Hedge Funds Up Bets Against Italy's Monte Paschi Sunday, 3 Feb 2013 | 9:24 AM ET

    London hedge funds Odey Asset Management and Egerton Capital are among those upping their bets against Monte dei Paschi di Siena in recent days, after revelations the troubled Italian bank faces heavy losses.

  • BlackRock to Buy $80 Million Twitter Stake Friday, 25 Jan 2013 | 7:34 PM ET

    BlackRock has taken an $80 million stake in Twitter, a person with knowledge of the deal said. BlackRock will buy shares directly from early Twitter employees seeking to liquidate their stock holdings and options.

  • Apple Earnings Need to Overcome Technical Malaise Tuesday, 22 Jan 2013 | 9:38 AM ET
    Apple headquarters in Cupertino, California.

    Even though it is widely viewed to be undervalued Apple shareholders could still be in for more rough times if technical strategists are right.

  • Spain's largest bank Santander will cut 3,000 jobs following its planned merger with its Banesto subsidiary, Cinco Dias reported on Friday, citing sources from unions and close to the bank.

  • Porsche Wins Dismissal of Hedge Fund Lawsuit on VW Thursday, 27 Dec 2012 | 11:11 PM ET

    Thursday won the dismissal of a New York lawsuit by 26 hedge funds that accused the German automaker of causing more than $1 billion of losses by cornering the market in Volkswagen AG shares.

  • Global investors are betting Washington will overcome its budget deadlock despite an apparently serious setback. Republican lawmakers rejected a proposal on Thursday by their leader, House of Representatives Speaker John Boehner, designed to extract concessions from President Barack Obama.

  • Goldman’s Blankfein in Warning Over Cuts Tuesday, 13 Nov 2012 | 11:22 PM ET
    Lloyd Blankfein

    The financial industry should not go “overboard” in cutting costs in reaction to current market conditions, the chief executive of Goldman Sachs has warned, a day before the bank is poised to announce one of its smallest ever groups of new partners. The FT reports.

  • Old Mutual Targets Emerging Markets: CEO     Wednesday, 8 Aug 2012 | 2:10 AM ET

    Julian Roberts, CEO, Old Mutual says sales in the company's emerging markets business grew 12% in the first half of 2012.

  • In Silicon Valley, The Ripe Scent of New Money Monday, 16 Jan 2012 | 5:37 AM ET
    Map of Silicon Valley

    The start-up boom means there are more freshly minted millionaires looking to manage their wealth. And Wall Street firms are happy to help, for a fee. The New York times reports.

  • Inside Legg Mason's Business     Friday, 28 Oct 2011 | 3:16 PM ET

    For the second quarter, Legg Mason plunged 25% as customers pulled money out of the markets and the company's investments lost value. Discussing the current state of business is Mark Fetting, Legg Mason chairman/CEO.

  • China's Banks Risk Wealth Management Cash Friday, 22 Jul 2011 | 3:43 AM ET

    Banks are rolling over wealth management investments to finance real estate and local government projects, raising red flags

  • Is the XLF Sending a Signal? Tuesday, 26 Apr 2011 | 3:10 PM ET

    The financial sector has failed to keep up with the broader market's rally off the mid-March lows, and that means something has to give, according to Carter Worth, Oppenheimer Asset Management's chief technician.

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