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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.
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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.
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LONDON, Feb 3- Big-name 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.
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BlackRock, the world's largest asset manager, has systematically "looted" securities lending revenues from investors, according to a lawsuit filed by two US pension funds.
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European investment banks are set to cut their bonus pools in the coming weeks by 20 percent in a move that will exacerbate the pay gap with their U.S. rivals. The Financial Times reports.
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NEW YORK-- Investment firm Cowen Group Inc. said Friday it is buying Dahlman Rose& Co., a privately held investment bank. Cowen is buying Dahlman Rose with stock but the two firms did not disclose further financial details. Cowen Group shares rose 3 cents to $2.69 Friday and were unchanged in aftermarket trading.
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Lehman Bros., the investment bank that failing and helped spark the 2008 financial crisis, made more history by paying $2 billion in fees to outside professionals involved in its bankruptcy. The company spent $160.8 million in fees since emerging from bankruptcy in March, it said in a Thursday filing in with the U.S. Bankruptcy Court in New York.
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By Ross Kerber and Jessica Toonkel. Legg Mason Inc on Friday reported a sharp loss of $453.9 million amid charges and continued outflows of customer cash in the three months ended December 31.
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Net income for Franklin's fiscal first quarter through Dec. 31 totaled $516.1 million, or $2.42 per share, compared with $480.8 million, or $2.20 per share, a year earlier, the San Mateo, California- based firm said. Investors lauded the results, sending shares of Franklin up $2.09, or 1.5 percent, to $138.97 on the New York Stock Exchange.
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Feb 1- Legg Mason Inc reported a quarterly loss on Friday on charges for impaired assets and continued outflows from its equity and bond funds, and said it should name a permanent chief executive soon. Shares of Legg Mason were down 3.8 percent in early trading, at $26.61, after analysts expressed concern about the outflows.
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Feb 1- Money manager Franklin Resources Inc, which runs the Franklin and Templeton funds, said on Friday that its quarterly profit rose 7 percent, even though additional customer investments slowed.
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Feb 1- Legg Mason Inc reported a quarterly loss on Friday on charges for impaired assets and continued outflows from its equity and bond funds, and the asset manager said it should name a permanent CEO soon.
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Feb 1- Asset manager Legg Mason Inc said on Friday it swung to a quarterly loss due to charges for impaired assets, and reported continued outflows from its equity and bond funds. Legg Mason reported a net loss of $453.9 million, or $3.45 per share, for the three months ended Dec. 31, its third fiscal quarter.
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Feb 1- MetLife Inc said it has agreed with BBVA to buy AFP Provida S.A., the largest private pension fund administrator in Chile, for about $2 billion in cash to expand its presence in emerging markets. MetLife said BBVA, Spain's second-biggest bank, has agreed to transfer its 64.3 percent stake to MetLife.
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NEW YORK, Jan 31- Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. District Judge Jed Rakoff in Manhattan also ordered her to forfeit nearly $1.53 million.
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NEW YORK, Jan 31- Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. District Judge Jed Rakoff in Manhattan also ordered her to forfeit nearly $1.53 million.
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DES MOINES, Iowa-- Financial services company Principal Financial Group Inc. said Thursday that its fourth-quarter profit jumped by 47 percent, helped by losses on commercial mortgage investments winding down. The company, based in Des Moines, Iowa, said net income grew to $218.6 million, from $148.5 million a year ago.
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NEW YORK, Jan 31- Roomy Khan, a one-time technology company executive who became a key FBI informant in the insider-trading case against hedge-fund manager Raj Rajaratnam, was sentenced to 12 months in prison on Thursday. District Judge Jed Rakoff in Manhattan also ordered she forfeit nearly $1.53 million.
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*Adjusted ENI per unit 59 cents vs street view of 47 cents. NEW YORK, Jan 31- Blackstone Group LP reported a 43 percent rise in fourth-quarter profit on Thursday, capping what it called its best year as a publicly listed alternative asset manager, despite a lackluster performance by its flagship real estate business.
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Helped by start-ups in and around Toronto's financial district, the Canadian industry is estimated to manage more than C $30 billion, up from about $15 billion four years ago.
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ATLANTA-- Invesco Ltd. said Thursday its fourth-quarter net income dropped 22 percent as its clients invested less. The Atlanta- based money manager earned $158.7 million, or 35 cents per share, down from $202.3 million, or 44 cents per share, in the same quarter last year. Revenue rose 10 percent to $1.09 billion from $997.1 million.