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  • Jan 16- Goldman Sachs Group Inc reported a 7 percent drop in quarterly profit as investment banking revenue slid and an unexpected bout of market volatility in December hit revenue in its business that trades bonds, currencies and commodities. Goldman's net income fell to $2.17 billion, or $4.38 per share, in the fourth quarter from $2.33 billion, or 4.60 per...

  • Jan 16- Goldman Sachs Group Inc reported a 7 percent drop in quarterly profit as investment banking revenue slid and an unexpected bout of market volatility in December hit revenue in its business that trades bonds, currencies and commodities. Goldman's net income fell to $2.17 billion, or $4.38 per share, in the fourth quarter from $2.33 billion, or 4.60 per...

  • *Bank of America, Citi fall after results. *Swiss National Bank scraps three-year-old euro cap on franc. "We're probably going to see slowing in the global economy, and it will be very difficult to sail through a global recession without getting touched," said Scott Colyer, chief executive officer of Advisors Asset Management in Monument, Colorado.

  • NEW YORK/ LONDON, Jan 15- Currency speculators, especially large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • NEW YORK/ LONDON, Jan 15- Currency speculators, particularly large global macro hedge funds with big short positions in the Swiss franc, are staring massive losses in the face after the Swiss National Bank shocked markets on Thursday by removing a three-year-old cap on the currency. "You have these massive policies which forced all investors to invest with the...

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected quarterly profit as assets under management increased. The 2014 net inflows represent a 55 percent jump from the prior year and a record for BlackRock. "While the magnitude of the flows was quite large, it is the composition of the flows that was really interesting,"...

  • BlackRock's earnings beat Wall Street estimates Thursday, 15 Jan 2015 | 7:44 AM ET
    Larry Fink, Chairman and CEO of BlackRock.

    BlackRock, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased.

  • Jan 15- BlackRock Inc, the world's largest money manager, reported a higher-than-expected fourth-quarter profit as assets under management increased. Of the $87.8 billion that investors poured into BlackRock's long-term funds during the quarter, half went into the iShares exchange-traded fund business, which ended the quarter with $1 trillion.

  • Copper "is reflecting new and ominous signs about the health of China's economy. Copper "for nothing," said Jeffrey Gundlach, co-founder of DoubleLine Capital, which oversees $64 billion in assets under management. To Daniel Alpert, founding managing partner of investment banking firm Westwood Capital LLC, the plunge in the price of oil, and now copper, is a clearer...

  • Jan 14- Chipotle Mexican Grill Inc's decision to suspend purchases from a pork producer that ran afoul of its animal welfare rules could bolster its reputation with diners but threatens sales and profits this quarter. Chipotle shares fell 0.6 percent to $709.74 on the New York Stock Exchange on Wednesday. Citing the risk of lost sales, Anderson cut his first...

  • UPDATE 1-Chipotle's pork plight could hurt Q1 results Wednesday, 14 Jan 2015 | 2:50 PM ET

    Jan 14- Chipotle Mexican Grill Inc's decision to suspend purchases from a pork producer that ran afoul of its animal welfare requirements could bolster its reputation with diners but threatens sales and profits this quarter, an analyst said on Wednesday. Chipotle shares were down 1.1 percent to $706.54 in midday trading on the New York Stock Exchange.

  • NEW YORK, Jan 14- U.S. and Brent crude futures rallied sharply on Wednesday, with U.S. crude up more than $3 a barrel, a day ahead of the Brent February contract's expiration and on the day that options for the U.S. contract expire, brokers and traders said. Brent February crude was up $2 at $48.59 a barrel at 2:36 p.m. EST, having reached $49.21 per barrel.

  • Jan 14- A former top executive of Steven Cohen's SAC Capital Advisors LP is close to launching a roughly $1 billion hedge fund in March, the Wall Street Journal reported. Solomon "Sol" Kumin, who was SAC's chief operating officer until January last year, has raised about $1 billion for his Folger Hill Asset Management LLC, the Journal said, citing a person familiar...

  • FRANKFURT, Jan 14- Deutsche Bank is considering splitting off its retail division and listing it on the stock exchange should German lawmakers approve measures forcing banks to isolate risky trading activities, a person with knowledge of the discussions said. Under this scenario, Deutsche would keep investment banking and asset management while floating...

  • Jan 13- The California Public Employees' Retirement System, America's largest public pension fund, announced on Tuesday that its finances improved significantly in the last fiscal year, mainly due to strong investment returns. In its 2014 Comprehensive Annual Financial Report, or CAFR, Calpers says it had an estimated funding level of 77 percent by June 30.

  • MONTREAL, Jan 13- Canada's second-largest pension fund will finance, develop and operate major infrastructure projects for the cash-strapped province of Quebec under a deal announced on Tuesday that highlights the appetite of such funds for long-term revenue generating assets. Caisse de depot et placement du Quebec, which manages funds for Quebec's...

  • MONTREAL, Jan 13- Quebec's largest pension fund said on Tuesday it struck a deal with the cash-strapped provincial government to finance, develop and operated major infrastructure projects, highlighting the appetite of such funds for unconventional assets.

  • *Oil importer Egypt outperforms; GB Auto soars again. Brent crude fell to its lowest level in almost six years and traded below $46 per barrel on Tuesday as the United Arab Emirates defended OPEC's decision not to cut output to tackle a glut in the market. "The markets fell very steeply in the fourth quarter and hence investors think there is value in this market," said...

  • NEW YORK, Jan 12- Pacific Investment Management Co has named Marc Seidner, chief investment officer for non-traditional strategies, lead portfolio manager of the Pimco Unconstrained Bond Fund, the firm said in a regulatory filing on Monday. However, the Pimco Unconstrained Bond Fund, which co-founder Bill Gross took over in December 2013 up until his stunning...

  • Jan 12- A group of hedge fund creditors of Caesars Entertainment Corp sought on Monday to force its main operating unit into bankruptcy and to appoint an independent examiner to investigate what they allege was the plundering of the company. The involuntary bankruptcy petition was filed by affiliates of Appaloosa Management, Oaktree Capital Management and...