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May 13- Michigan's biggest city is "clearly insolvent" and needs to restructure its debt and renegotiate its labor contracts to address its problems, Detroit's emergency financial manager said on Monday.
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NEW YORK, May 13- An activist hedge fund's nominees to the Hess Corp board of directors said they were waiving their right to receive a controversial pay package under which the fund will pay them extra if the oil and gas company outperforms its peers under their watch.
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NEW YORK, May 13- An activist hedge fund's nominees to the Hess Corp board of directors said they were waiving their right to receive a special pay package from the fund if the oil and gas company outperforms its peers under their watch.
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Last week Icahn and Southeastern Asset Management Inc offered $21 billion in cash for Dell, challenging founder Michael Dell's $24.4 billion bid to take the company private.
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May 13- The special committee of Dell Inc's board of directors on Monday asked Carl Icahn for more details on the activist investor's proposed offer for the computer maker. Last week Icahn and Southeastern Asset Management Inc challenged Michael Dell's $24.4 billion bid to take Dell private with an offer of $21 billion in cash.
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HONG KONG, May 13- Hong Kong shares suffered their worst loss in almost a month on Monday as Ping An Insurance fell sharply after regulators slapped a three-month ban on its brokerage unit for helping list a fraudulent Chinese company. The China Enterprises Index of the top Chinese listings in Hong Kong slid 2.1 percent.
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HONG KONG, May 13- Hong Kong shares were knocked off a near three-month high on Monday with Ping An Insurance falling sharply after a three-month ban was imposed on its brokerage unit for helping list a fraudulent Chinese company.
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HONG KONG, May 13- China shares posted a second loss in three sessions, as Ping An Insurance fell sharply after a three-month ban was imposed on its brokerage unit for helping list a fraudulent Chinese company. The CSI300 index of the leading Shanghai and Shenzhen A-share listings closed down 0.4 percent on Monday.
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TOKYO, May 13- Oil and gold prices fell on Monday as the dollar strengthened, weighing on Asian shares, but Japanese equities outperformed on the back of the yen's slide to a fresh 4-1/ 2- year low against the U.S. currency.
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*China due to post more April data in afternoon trade. HONG KONG, May 13- Hong Kong shares were knocked off a near three-month high on Monday as China's biggest underwriter by revenue, Ping An Insurance, fell sharply after a three-month ban was imposed on its brokerage unit for helping list a fraudulent Chinese company.
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*Managed money net longs at $63 bln for week ended May 7. The net long money held by money managers across 22 U.S.-traded commodities rose by about $1.4 billion, or 2 percent, to around $63 billion for the week ended May 7, according to Reuters calculations of data released by the Commodity Futures Trading Commission.
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*Dish may face difficulty securing financing for Sprint bid. May 10- SoftBank Corp has asked investment banks not to finance a rival bid for Sprint Nextel Corp by Dish Network Corp, saying this could hurt the banks' chances of gaining a role in the highly anticipated public offering of Alibaba Group Holding Ltd, according to two people with knowledge of the matter.
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LAS VEGAS, May 10- In Las Vegas this week, hedge fund investors rubbed shoulders with big-name managers, Hollywood heavies and political swells against a Bellagio hotel backdrop of glitz and gambling.
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LONDON, May 10- Most investors see the yen's latest lunge as a byproduct of the rich world's money printing gambit and not a deliberate escalation in a notional currency war, but it is raising concerns about possible new ructions.
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May 10- Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's biggest shareholders, have proposed an alternative to a $24.4 billion buyout led by founder Michael Dell that will take private the world's No. 3 PC maker.
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May 10- Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's biggest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell. Additionally, they would have the option of receiving a distribution of $12 a share in cash or $12 a share in stock valued at $1.65 a share.
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May 10- A British pension fund adviser has joined the calls for Jamie Dimon, chief executive and chairman of the board of JPMorgan Chase& Co, to surrender the chairmanship.
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The CFTC is prepared to adjust a new rule stemming from the Dodd-Frank financial reform law, a sign that the regulator might bow to industry criticism.
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May 10- Activist investor Carl Icahn and Southeastern Asset Management Inc, two of Dell Inc's largest shareholders, have proposed an alternative to a $24.4 billion buyout deal led by founder Michael Dell.
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LONDON, May 10- Silver prices swung wildly in the wake of extreme losses seen in gold last month, but while investors fled bullion-backed funds in droves, holdings in the less glamorous precious metal are remarkably robust, for now.