Dec 6- Struggling U.S. retailer Sears Holdings Corp, led by hedge fund manager Edward Lampert, said it would spin off its Lands' End clothing business. The spinoff will be through a prorata distribution of Lands' End shares to shareholders, Sears said in a regulatory filing on Friday.» Read More
June 21- Morgan Stanley said it will buy the rest of its wealth-management joint venture with Citigroup Inc by the end of the month, completing a deal started during the financial crisis that was designed to stabilize both banks.
June 21- Morgan Stanley said on Friday it will buy the rest of Citigroup Inc's retail brokerage holdings in the coming weeks for $4.7 billion after regulators signed off on the purchase. The deal will complete a process that started in 2009, when Morgan Stanley said it was effectively buying Citigroup's Smith Barney brokerage business over time.
LONDON, June 21- European shares rose on Friday, led by food and beverages as investors cautiously bought defensive sectors after the previous session's market rout on the prospect of reduced stimulus from the U.S. The FTSEurofirst 300 was up 0.8 percent at 1,153.08 by 1054 GMT, having slid 3.1 percent on Thursday suffering its biggest one-day fall in 19 months.
MILAN, June 21- Mediobanca, under pressure to improve returns for shareholders, plans to sell almost all of its stakes in major companies, ending half a century of influence at the heart of Italian business to focus on banking.
NEW YORK, June 20- The rich are getting richer. That's the conclusion of the World Wealth Report, the landmark annual study of the world's millionaires, which was released this week by RBC Wealth Management and Capgemini Financial Services.
Historically speaking, the list of winners is short and the list of losers long in a rising interest rate investing climate.
*Banks will spend $471 bln on IT this year and $563 bln in 2017. Stuck with dwindling profits in an era of poor returns and heavy regulation, the likes of Goldman Sachs, JP Morgan Chase and HSBC are battling to hire the best software programmers, systems engineers and data analysts, to help them get ahead via new technology and cost-cutting.
MONTE CARLO, Monaco, June 20- Former chess grandmaster-turned hedge fund manager Patrick Wolff is betting on a stock market crash in China, where he says corruption and bad debts have spiraled to dangerous levels.
LONDON/ MADRID, June 19- U.S. private equity firm Warburg Pincus is trying to persuade European banks to sell it more of their businesses by buying minority stakes that allow them to share in any future upside, a senior executive told Reuters on Thursday.
*Bahrain underperforming Gulf bonds by large margin. DUBAI, June 20- Bahrain faces a dilemma in coming days as it decides whether to issue a sovereign bond at a time of extreme volatility in global markets.
BOSTON, June 19- Harvard University said on Wednesday that it had hired Wall Street veteran Jake Xia as its chief risk officer to analyze and monitor investment exposure in its $30.7 billion endowment.
SAO PAULO, June 19- American Trading Systems Brasil, the company seeking permission to open a financial exchange in Brazil, said talks with global and local banking and asset management firms are at "an advanced stage."
SANTIAGO, June 19- Chilean president Sebastian Pinera is seeking to reform the Andean country's private pension funds to boost competitiveness and increase pensions for workers, he told a local radio station on Wednesday. The pension funds, Chile's biggest institutional investors, have been crucial in developing the country's local stock market.
TOKYO, June 19- Japanese government bonds were mixed on Wednesday in a move characteristic of low liquidity as many investors refrained from trading, looking to how the U.S.
Industrial and tech shares rally, 3 M at 52- week high. *Boeing shares hit 5 1/ 2- year high. NEW YORK, June 18- U.S. stocks advanced for a second straight day on Tuesday as investors bet the Federal Reserve would temper statements which were interpreted to mean a sooner-than-expected winding down of stimulus efforts.
TORONTO, June 18- Canada's Tim Hortons Inc is under mounting pressure from activist investors to boost shareholder value a few weeks before a new CEO takes over after a second hedge fund said it had amassed a big stake in the coffee and doughnut chain.
MONACO, June 18- Hedge funds, once seen as a quick route to riches for managers and investors alike, are trying to reinvent themselves as more socially conscious and make money all the same.
June 18- Over the past few years, Citigroup Inc has been grappling with an unusual problem- how to incur more U.S. taxes.
*Third Point's stake in Sony rises to 7 pct from 6.3 pct. TOKYO, June 18- New York- based hedge fund Third Point said it has raised its stake in Sony Corp and urged the Japanese company to create an independent board to run a partially spun-off entertainment arm with Sony's CEO, Kazuo Hirai, as its chairman.
PARIS, June 17- Transport financier Doric Lease Corp said it would buy 20 Airbus A380 aircraft in a deal worth $8 billion at list prices and could snap up more, putting the planemaker on track to hit its full-year order target for the superjumbo.