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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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NEW YORK-- Insurance company MetLife is selling independent broker-dealer affiliates Tower Square Securities and Walnut Street Securities to Cetera Advisor Networks, so that its U.S. retail arm can concentrate more on its core distribution relationships.
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"That's good," Clark told the system's Board of Trustees, adding that the investment returns have far exceeded the goal of earning 7.25 percent a year. The system's assets had grown to $8.78 billion by March 31, up about $1 billion since the start of the financial year July 1 after taking into account investment gains and benefits paid to retirees.
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But Fidelity Investments and Charles Schwab Corp are paying these financial advisers as much as 0.25 percent of the assets that their clients put in no-transaction-fee mutual funds.
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NEW YORK, April 5- U.S. Today's report pushes out the date at which the Federal Reserve may reduce its purchases of securities, "said Brian Jacobsen, chief portfolio strategist, Investments Group, at Wells Fargo Funds Management in Menomonee Falls, Wisconsin.
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NEW YORK-- Shares of Exide Technologies surged Friday as the battery maker announced that it hired a financial advisory firm to help explore options to maximize shareholder value. Exide Technologies said that it does not anticipate making any further comments about its Lazard- assisted review until the process is finished.
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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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A lumbering U.S. economy is not growing fast enough to create jobs, billionaire investor Wilbur Ross told CNBC on Thursday.
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*Technical support seen near 85- to 86- cent range- broker. NEW YORK, April 4- ICE cotton fell on Thursday, as weekly U.S. government export data were not seen as strong enough to boost prices and losses across commodities markets weighed. The most-active May cotton contract on ICE Futures U.S. fell 0.89 cent, or 1 percent, to settle at 88.33 cents per pound.
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Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners, a New York- based wealth management company, people familiar with the matter said.
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LONDON, April 4- Hedge funds set up to profit from huge market slides are falling out of favour, signalling that investors are increasingly confident leading central banks can avert the kind of meltdown that followed the Lehman Brothers' collapse.
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LONDON, April 4- Pension funds may be attracted back into rising equity markets by new techniques for investing in an asset class they shunned for years as volatile and costly. For example, an investor can take the S&P 500 index but overweight stocks with lower volatility to create a new smart index.
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NEW YORK, April 3- The dollar dropped against the yen and the euro on Wednesday after reports showed unexpectedly low job gains in the U.S. private and slower growth in the service sector last month, raising fears about recovery in the world's largest economy.
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April 3- Jim O'Neill, head of Goldman Sachs Asset Management, thinks Beppe Grillo and his Five Star Movement is a greater threat to Europe and the euro than the trials of little Cyprus.
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ABU DHABI, April 3- National Bank of Abu Dhabi named the banker who led Australia and New Zealand Banking Group's push into Asia as its chief executive on Wednesday, as it expands abroad from its saturated local market.
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The death of Laiki, also known as Cyprus Popular Bank, was brutal. Board members said they had fought to the bitter end.
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WARSAW, April 3- Poland is considering cancelling $39 billion in treasury bonds held by private pension funds and paying the resulting pension shortfall out of its own budget, a newspaper said on Wednesday.
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*FTSEurofirst 300 down 0.9 percent. LONDON, April 3- European shares closed lower on Wednesday as weak U.S. data heightened worries that the global economy's growth prospects will struggle to justify recent stock market gains.
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NICOSIA, April 2- On the evening of the last Wednesday in March, the directors of Laiki bank, the second largest in Cyprus, gathered in their sixth floor board room for the last time. "Laiki Bank was a very good bank for many, many years," said Afxentis Afxentiou, a former governor of Cyprus' central bank.
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*Tesla Motors rallies after profit outlook. "The economy is still improving ever so slowly, so I think there's room for the market to go up," said Bryant Evans, investment advisor and portfolio manager at Cozad Asset Management, in Champaign, Illinois.