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  • *Saipem, Salzgitter slide as Russia scraps pipeline project. BP featured among the top gainers, up 3.6 percent, with several traders citing market talk of a takeover bid from rival Royal Dutch Shell. Shares in Italian oil services group Saipem and German steelmaker Salzgitter bucked the trend, tumbling 8.6 percent and 8 percent respectively after Russia...

  • Nelson Peltz resigns from Legg Mason board Monday, 1 Dec 2014 | 6:45 PM ET

    Dec 1- Activist investor Nelson Peltz resigned from the board at Legg Mason Inc to focus on other commitments, the asset manager said on Monday. Peltz, Chief Executive and a founding partner of Trian Fund Management LP, was chairman of Legg Mason's corporate governance committee. Under Chief Executive Joseph Sullivan, who took charge in February 2013, Legg Mason...

  • Stock markets could gain despite Big Oil's pain Monday, 1 Dec 2014 | 10:43 AM ET

    LONDON, Dec 1- Despite hundreds of billions of dollars wiped off energy company shares since June by the slide in oil prices to a five-year low, there are reasons to be cheerful about the likely future impact on global stock markets. If current prices hold through 2015, global GDP growth could rise by around 0.3 percentage points, or around $250 billion, according...

  • Top Chinese PE firm: Sectors we're bullish on   Sunday, 30 Nov 2014 | 5:49 PM ET
    Top Chinese PE firm: Sectors we're bullish on

    Despite slowing growth in China, Wang Chao Yong, Chairman and CEO at China Equity Group, explains why he's still positive on domestic prospects.

  • *Oil at $70 wouldn't cause growth to collapse. DUBAI, Nov 30- Middle East fund managers expect to put money back into Gulf stock markets in coming months once the shock of the plunge in oil prices fades, the latest Reuters survey of regional asset managers shows. The slide of Brent crude to $70 a barrel last week, from around $115 in June, has shifted the outlook for the...

  • LONDON, Nov 28- A currency-rigging scandal and an intensifying squeeze on their fees are driving fund managers to scrutinise how much they pay for the foreign exchange they need to buy overseas assets. Consultancy New Change FX reckons that in a typical UK pension fund with half its money invested abroad and two-thirds of that FX exposure hedged, currencies...

  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 clients to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal investigation...

  • BUENOS AIRES, Nov 27- Argentina has charged HSBC with aiding more than 4,000 citizens to evade taxes by stashing their money in secret Swiss bank accounts, the country's AFIP tax authority said on Thursday. AFIP said it received the information on the secret accounts from France, which last week placed HSBC's Swiss private banking arm under formal...

  • HONG KONG, Nov 27- Rapid reforms by Beijing allowing foreign companies to move funds from their China operations across borders relatively freely is boosting treasurers' confidence in using the yuan as the preferred currency for doing business. That has changed in less than three years with Beijing now allowing multinationals to transfer yuan out of China...

  • SHANGHAI, Nov 27- China stocks were mixed on Thursday, with Hong Kong shares correcting slightly while mainland indexes charged ahead as onshore investors kept putting money into equities in the wake of Beijing's interest-rate cut. The official Shanghai Securities News reported on Thursday that 94.4 billion yuan was added to brokerage accounts in the first...

  • Tiger Global, which manages roughly $14.5 billion in hedge fund and private equity portfolios, wrote to investors in a Nov. 25 letter seen by Reuters, that it wants to raise as much as $1 billion in new capital at its Tiger Global Long Opportunities fund. Co-founded by Chase Coleman, Tiger Global was seeded by hedge fund industry veteran Julian Robertson and ranks...

  • UPDATE 2-Kellogg and Abraaj battle for Egypt's Bisco Misr Wednesday, 26 Nov 2014 | 9:38 AM ET

    CAIRO, Nov 26- The battle for control of Egyptian cake and biscuit maker Bisco Misr intensified on Wednesday as Abraaj Investment Management raised its initial bid to trump a rival offer from Kellogg Co.. UAE- based Abraaj, the Middle East's largest private equity firm, raised its offer to 80.58 Egyptian pounds per share, exactly two percent above a bid of 79 pounds...

  • Nov 25- The U.S. Justice Department is investigating allegations that an employee of HSBC Holdings Plc leaked confidential client information to a major hedge fund, the Wall Street Journal reported, citing people with knowledge of the matter. The alleged leak is believed to have taken place in March 2010, when HSBC was advising British insurer Prudential Plc on...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. accounts, and its employees traveled to the United States at...

  • WASHINGTON, Nov 25- HSBC Holdings Plc will pay $12.5 million to resolve charges that its Swiss private banking unit illegally offered services to U.S. clients without being properly registered, the U.S. Securities and Exchange Commission said on Tuesday. The SEC said HSBC's Swiss unit amassed 368 U.S. client accounts, and its employees traveled to the United...

  • TOKYO, Nov 25- Japan's $1.1 trillion Government Pension Investment Fund's holdings of domestic bonds fell below half its assets for the first time in the third quarter, highlighting an aggressive shift to riskier assets in line with a push from Prime Minister Shinzo Abe. The roughly $25 billion drop in holdings of low-yielding Japanese government bonds by the...

  • NEW YORK, Nov 24- U.S. fund firms are taking extra measures to make sure they don't get stuck holding hard-to-sell bonds in the event that fixed income markets see a massive race to the exits when interest rates start to rise. Over the past few months a growing number of asset managers, including Neuberger Berman, Natixis Global Management and T. Rowe Price have been...

  • "Policymakers are taking a very comprehensive look in their toolboxes and this should keep investor demand for yield intact," said Tai Hui, chief markets strategist at JP Morgan Asset Management in Hong Kong. Gains in property and brokerage stocks led the benchmark indexes in Hong Kong and mainland China higher as investors anticipated a cut in mortgage rates.

  • Jersey eyes liquidity in Asian, Middle Eastern banks Sunday, 23 Nov 2014 | 12:52 PM ET

    Situated between France and Britain in the Channel, Jersey is a British Crown dependency outside of the United Kingdom and the European Union. It is jostling with larger offshore markets such as Switzerland, the world's leading offshore private banking centre, to manage part of the growing liquidity in Asian and Middle East banks. Presently, 18 percent of the...

  • SAO PAULO, Nov 23- Brazilian President Dilma Rousseff's new, still unconfirmed economic team is preparing budget cuts for 2015 that will be announced next week, newspaper Folha de S. Paulo reported on Sunday. Three of the country's leading newspapers reported on Friday that Rousseff will appoint Joaquim Levy, head of the asset management arm of Brazil's...