Asset Management and Custody Banks
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Jan 18- State Street Corp said on Friday it would cut about 630 jobs worldwide, lifting its stock 5 percent, as it reported a 26 percent boost in fourth-quarter net income amid pressure from some of its largest shareholders to cut expenses.
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Jan 18- Morgan Stanley reported a fourth-quarter profit on a surge in equity sales and trading and strong margins at its wealth management business, sending its shares up 7 percent before the bell.
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*Canada pension fund manager CPPIB in talks to join bid-sources. NEW YORK/ SINGAPORE, Jan 17- Silver Lake Partners, trying to finalize a bidding group to take Dell Inc private, is in talks with the manager of Canada's pension plan and other potential investment partners, people familiar with the matter said.
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Jan 17- BlackRock Inc, the world's largest money manager, said on Thursday its fourth-quarter profit rose 24 percent, bolstered by increased investor confidence in global stock markets. Shares of New York- based BlackRock jumped 4.7 percent to $232.58, a three-year high, on the New York Stock Exchange.
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*Herbalife to report results on Feb. 19. Jan 17- Weight-loss products company Herbalife Ltd forecast fourth-quarter earnings above analysts' estimates but said it expects a temporary bump in expenses to its fight with activist hedge fund manager William Ackman.
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LONDON, Jan 17- Tycoons are shunning banks and wealth managers, preferring to put a flood of money from selling stakes in companies into property and new ventures rather than trust industries whose reputations have been battered by the global financial crisis.
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Jan 17- BlackRock, the world's largest money manager, said on Thursday its fourth-quarter profit rose 24 percent as investors moving into equities increased demand for its iShares family of exchange-traded funds. Net income at New York- based BlackRock totaled $690 million, or $3.93 per share, compared with $555 million, or $3.05 per share, a year earlier.
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*Industry expects China import duty by end-February. "There may be a short-term bounce in these stocks but I don't think it will be a long-term differentiator, because there is enough polysilicon supply in China," Edward Guinness, co-portfolio manager at Guinness Atkinson Asset Management, said.
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*The MSCI's broadest index of Asia-Pacific shares outside Japan skidded 0.4 percent in afternoon trading, building on two sessions of losses. * "Some bargain hunters come out whenever yields rise, because of the event risk tied to the question of raising the U.S. debt ceiling," said a fixed-income fund manager at a Japanese asset management firm in Tokyo.
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Shares of the bank, though, fell 2.60 percent to $26.08 on Wednesday as some analysts were disappointed with BNY Mellon's trading revenue and expense management.
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*UK retail stocks top shorts in FTSE 250. LONDON, Jan 16- Hedge funds are betting that a prolonged consumer squeeze and a further shift to online shopping could spell trouble for Britain's retail chains, and are targeting some of its best-known electrical, clothes and supermarket stores.
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*Fourth-quarter profit 53 cents/ share vs 42 cents a year ago. With interest rates scraping along the bottom, BNY Mellon's net interest margin- largely the difference between what it gets from loans and what it pays on deposits- was 1.09 percent in the fourth quarter, down from 1.27 percent a year ago.
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DUBAI, Jan 15- Investcorp, one of the Middle East's largest private equity houses, has sold CCC Information Services to U. S-headquartered Leonard Green& Partners, the Bahrain- based firm said on Tuesday. Investcorp, which previously took public luxury brands Gucci and Tiffany& Co, had $11.5 billion in assets under management as at June 30.
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"We are at an inflection point where, especially in the U.S., you'll start to see net inflows into equities," said Margaret Patel, senior portfolio manager at Wells Capital Management, which oversees $331 billion in assets. "
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BOSTON, Jan 11- Fidelity Investments, Federated Investors Inc and Charles Schwab Corp on Friday joined a growing list of top U.S. money market fund managers in agreeing to post daily fund asset values, as the industry comes under growing pressure from regulators for more transparency.
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BOSTON, Jan 11- Two more money market mutual fund managers, Fidelity Investments and Federated Investors Inc, said on Friday they will begin to post daily fund asset values, as the popular savings sector feels increasing pressure from regulators to be more transparent and less susceptible to mass redemptions.
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Investors in U.S.-based funds poured $7.53 billion into stock mutual funds, the most since 2001, after U.S. lawmakers reached a deal to avert tax increases and spending cuts, data from Thomson Reuters' Lipper service showed on Thursday.
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NEW YORK, Jan 10- Prominent banks and hedge funds have fled the natural gas market due to the sharp decline in prices but Bill Perkins, a trader at the now-defunct commodity hedge fund Centaurus Energy, says there is still plenty of money to be made there.
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*Legg Mason board declines to explore idea-sources. NEW YORK, Jan 10- Legg Mason Inc has been approached in recent months by some of its senior managers and private equity firms with plans to take the struggling asset manager private, but the board has decided against exploring that option at least until the company has a new chief executive, three sources said.
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*BlackRock is largest ETF seller in Europe. ZURICH, Jan 10- BlackRock is to buy Credit Suisse's exchange-traded fund business that will give the U.S. asset manager greater scale in Europe. BlackRock is the largest ETF provider in Europe, with more than 42 percent of the $331 billion European ETF market.