GO
Loading...

Capital Markets

More

  • NEW YORK, Oct 23- Some very big investors are betting on an upswing in two problematic parts of the world right now, Europe and Japan, their confidence bolstered by the brisk money-printing from central banks in both regions. Standard Life Investments, Goldman Sachs Asset Management, and Seven Investment Management are among those who believe in the potential...

  • FORT LAUDERDALE, Fla., Oct 23- A key witness in the federal tax evasion trial of a top Swiss bank executive took the stand on Thursday to testify against his former boss, Raoul Weil, who is accused of conspiring to conceal up to $20 billion in U.S. taxpayers' assets in secret offshore accounts. The former head of the wealth management division for the Americas at UBS,...

  • UPDATE 2-Higher advisory fees drive Lazard profit beat Thursday, 23 Oct 2014 | 10:13 AM ET

    Oct 23- Investment bank and asset manager Lazard Ltd reported a better-than-expected quarterly profit as it earned more fees from advising on M&A deals amid a surge in cross-border transactions. German companies were at the forefront of a slew of large cross-border deals in September, such as the $17 billion takeover of U.S.-based Sigma-Aldrich Corp by...

  • Wall Street lifts European shares despite earnings drag Thursday, 23 Oct 2014 | 10:00 AM ET

    *Michelin and Unilever fall, flagging weak EM demand. EDINBURGH, Oct 23- European stocks edged higher in choppy trade on Thursday, buoyed by strength on Wall Street but hindered by weak corporate results from companies including French tyre-maker Michelin. Michelin and Unilever cited poor demand from emerging markets as the former cut its full-year revenue...

  • NEW YORK, Oct 23- Private equity firm KKR& Co LP reported a lower-than-expected 27 percent year-on-year drop in third-quarter profit on Thursday, as its holdings appreciated more than many analysts foresaw and it generated more cash by exiting its investments. KKR's steep earnings drop was driven by a lower appreciation of its private equity investments...

  • Oct 23- Investment bank and asset manager Lazard Ltd reported better-than-expected quarterly profit and revenue due to a jump in M&A advisory fees and an increase in asset management revenue. Among the big deals Lazard advised on during the quarter were Siemens AG's $7.6 billion acquisition of oilfield equipment maker Dresser-Rand Group Inc and chemical...

  • Lazard profit rises 48 pct on higher advisory fees Thursday, 23 Oct 2014 | 6:23 AM ET

    Oct 23- Lazard Ltd reported a 48 percent rise in quarterly profit due to a jump in advisory fees from higher M&A activity and an increase in asset management revenue. The company's net profit rose to $89 million, or 67 cents per share, in the third quarter ended Sept. 30, from $60 million, or 45 cents per share, a year earlier. Among the big deals Lazard advised on during the...

  • ZURICH, Oct 23- Credit Suisse reported stronger-than-expected third quarter profits on Thursday, bolstered by its investment bank, which benefited from a rise in bond-trading and fees from the multi-billion dollar listing of China's Alibaba. This marks a return to profit for the Zurich- based bank after it reported its biggest loss since the financial crisis...

  • Oct 23- The Orange County Sanitation District, a wastewater treatment facility in California, became the latest institutional investor to move money away from bond giant Pimco, weeks after the shock departure of Pimco's CIO Bill Gross. The OCSD said its board on Wednesday unanimously approved the selection of Chandler Asset Management as its external...

  • They are also profitable: In the third quarter, BlackRock Inc, the biggest provider of the funds, made $850 million in fees from its iShares ETFs, 30 percent of the $2.8 billion in revenue it reported. Last week, Janus Capital Group announced the acquisition of exchange-traded fund provider VelocityShares and Reuters exclusively reported last week that Goldman...

  • *China, HK fees account for 55 pct of AsiaPac region in 2014. HONG KONG, Oct 23- Private firms have overtaken state-owned companies this year for the first time as the biggest drivers of investment banking revenues in China- a sign of how Beijing's reforms are transforming private capital's role in the world's second-largest economy. Private firms are also...

  • Shares of Ares Management LP, the alternative asset manager that went public in May, closed on Tuesday about 12 percent below their IPO price of $19. Ares Management runs Ares Capital Corp and was the first U.S. private equity firm to go public in about two years. Morgan Stanley, J.P. Morgan and Goldman Sachs were among the lead underwriters for Fifth Street's IPO.

  • HONG KONG, Oct 22- Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator to delay a landmark China stock trading link that could generate billions of dollars of trade a day due to uncertainty over the scheme rules, according to a letter seen by Reuters. The Hong Kong- Shanghai stock connect scheme, a milestone in the...

  • HONG KONG, Oct 22- Some of the world's biggest banks and asset managers have asked the Hong Kong securities regulator for more time to prepare for a landmark China stock trading link due to uncertainty over the rules of the scheme, according to a letter seen by Reuters. The Hong Kong- Shanghai stock connect scheme was widely expected to go live on Oct. 27, but the letter...

  • NEW YORK, Oct 22- Apollo Global Management LLC plans to start raising between $2 billion and $3 billion for a second natural resources private equity fund, sources familiar with the situation said, in the latest sign that the firm is doubling down on the U.S. shale boom. The firm's first resources fund, the Apollo Natural Resources Partners, has now almost fully...

  • BOSTON, Oct 21- Hedge fund manager Daniel Loeb told investors on Tuesday he urged U.S. biotechnology company Amgen Inc to split into two separate businesses, a move he said could boost its share price by more than 80 percent. "Our own extensive diligence suggests that a breakup of Amgen is feasible and that purported constraints such as tax strategy and supply...

  • BOSTON, Oct 20- Shares in Alpha Bank surged more than 13 percent on Monday after hedge fund manager David Einhorn recommended betting on Greek banks and against French debt. Speaking at the annual Robin Hood Investors Conference in New York, Einhorn recommended going long Alpha Bank and Piraeus Bank with warrants and shorting French debt as a hedge, according to...

  • New York, Oct 17- Suvretta Capital Management, founded by a former portfolio manager for billionaire investors George Soros and Steven A. Cohen, is generating net returns of 6 percent year-to-date, despite this week's stock market drop and wild gyrations, according to two sources familiar with the situation. The majority of flows into equity strategies over the...

  • Russell Investments, Ft. Lauderdale fund ax Pimco Friday, 17 Oct 2014 | 8:49 AM ET
    Bill Gross

    Russell Investments and the Fort Lauderdale Police & Fire Retirement System dropped PIMCO as their bond portfolios manager following the exit of Bill Gross.

  • Oct 17- Morgan Stanley reported an 87 percent rise in third-quarter earnings as the Wall Street bank's trading and wealth management businesses benefited from increased client activity. Morgan Stanley's shares rose 5.7 percent to $34.40 in premarket trading on Friday. The stable fee income Morgan Stanley receives for advising individuals on their...