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  • The Securities Investor Protection Corp said it is aware of two websites that it believes are falsely claiming to help protect U.S. and non-U.S. brokerage customers, whether by posing as SIPC or claiming its powers. SIPC said such "phishing" scams involve con artists who trick people into paying up-front fees, providing access to. "It seems to come and go in waves,"...

  • LONDON, Nov 5- Sales at Anglo-South African financial services group Old Mutual fell in the third quarter due to weakness in the rand and outflows from institutional investors, though funds under management rose on the year, the London- listed firm said in a trading statement on Wednesday. Old Mutual has been restructuring its business, selling off some European...

  • HONG KONG, Nov 5- Asset managers in Hong Kong are scrambling to figure out how to meet growing demand for yuan assets after they were hit by a double blow- a shortage of China investment quotas and the delay of a scheme linking the Hong Kong and Shanghai stock exchanges. China's State Administration of Foreign Exchange allocated a total of 11.1 billion yuan in RQFII...

  • NEW YORK, Nov 4- At least three oil companies are still actively bidding for Citgo Petroleum Corp, the U.S. refining arm of Venezuela's PDVSA, even after the country's finance minister said that the auction was no longer going ahead, according to three people familiar with the situation. The investment bank hired by PDVSA to conduct the sale, Lazard Ltd, has not ended...

  • SAO PAULO, Nov 4- Grupo BTG Pactual SA missed third-quarter profit estimates on Tuesday as Latin America's largest independent investment bank grappled with an unexpected jump in taxes and a shortfall from proprietary investments that weighed on revenue. Net income at the São Paulo-based bank, controlled by billionaire financier André Esteves, declined...

  • NEW YORK, Nov 4- Pacific Investment Management Co suffered a record $27.5 billion in withdrawals from its flagship Pimco Total Return Fund in October, extending large net outflows following Bill Gross' surprise resignation from the firm. The redemptions surpassed the $23.5 billion reported in September, according to a statement on Tuesday from Newport Beach,...

  • FORT LAUDERDALE, Fla., Nov 3- A former top banker who headed global wealth management at UBS AG was found not guilty on Monday on U.S. charges of conspiring with wealthy Americans to hide $20 billion in secret offshore accounts. Raoul Weil, the highest-ranking Swiss banker to stand trial in the United States, was accused in South Florida federal court of conspiracy...

  • FORT LAUDERDALE, Fla., Nov 3- A former top banker who headed global wealth management at UBS AG was found not guilty on Monday in South Florida federal court of conspiracy to defraud the IRS. Raoul Weil, 54, is the highest-ranking Swiss banker to stand trial in the United States and was accused by prosecutors of conspiring to help wealthy U.S. tax cheats hide $20...

  • William Ackman's Pershing Square Capital Management, which has not yet finalized monthly numbers, was off 0.60 percent for the month through Oct. 28, leaving it up 30.9 percent for the year, an investor in the private fund said. "As a group hedge funds performed very poorly in October," said Adam Blitz, chief investment officer at Evanston Capital which invests...

  • BEIJING/ DUBAI, Nov 3- China's central bank has signed a 35 billion yuan currency swap deal with its Qatari counterpart, in a step towards expanding use of the Chinese yuan in a region long dominated by the U.S. dollar. The United Arab Emirates signed a three-year currency swap arrangement with China in 2012 that was similar in size to Qatar's. Gulf Arab countries...

  • FRANKFURT, Oct 31- Deutsche Boerse is counting on its new chief executive to raise both the profile and prospects of the German exchange operator, which has seen its efforts at strategic mergers repeatedly stymied. Appointed on Oct. 27, Carsten Kengeter, a former head of investment banking at Swiss lender UBS, will join Deutsche Boerse next April and become CEO on...

  • TOKYO, Oct 31- Japan's Nikkei share average jumped on Friday as the government prepared to approve new allocation targets for the world's largest pension fund that are expected to sharply increase its purchases of domestic stocks. Tokyo will approve on Friday targets for the $1.2 trillion Government Pension Investment Fund which aim to increase the ratio of...

  • TOKYO, Oct 31- Japan's government will approve new allocation targets for the world's biggest pension fund on Friday, aiming to raise its holding of Japanese shares to 25 percent of its portfolio from the current 12 percent, two government sources said. The $1.2- trillion Government Pension Investment Fund is under pressure from Prime Minister Shinzo Abe to...

  • NEW YORK, Oct 30- A large group of creditors of MF Global Holdings Ltd's bankrupt brokerage unit will soon receive their first payout, as $518.7 million of checks start to be mailed out on Friday, the third anniversary of the company's Chapter 11 filing. James Giddens, the trustee liquidating the MF Global Inc brokerage unit, on Thursday said the payout to unsecured...

  • SAFT ON WEALTH -In praise of the cockroach portfolio Thursday, 30 Oct 2014 | 3:53 PM ET

    Oct 30- Everyone wants to be an eagle in investing and most fail, but the important thing to remember is: everyone can be a cockroach. This is best exemplified, among large long-term investors, by the widespread adaption of the Endowment Model, sometimes called the Yale Model because it was pioneered there with great success by David Swensen. This approach, in...

  • Oct 30- An early warning last week from LPL Financial Holdings Inc that unexpectedly high regulatory costs would hurt third-quarter earnings failed to placate investors on Thursday, as shares tumbled after the brokerage firm reported actual results. LPL Financial, the largest independent brokerage firm with almost 14,000 brokers that use its products and...

  • LONDON, Oct 30- The recent fall in oil prices will put a nascent recovery in oil sector mergers and acquisitions on hold, senior bankers told an industry conference on Thursday. Until around six to eight weeks ago, there was a sense that the market was recovering and a pickup in deal-making activity, Michael O'Dwyer, co-head of EMEA natural resources at Morgan...

  • *ECB hires Deutsche, ING, State Street, Amundi. By Kathrin Jones and Eva Taylor. FRANKFURT, Oct 30- The European Central Bank hired four major asset managers to carry out from November its purchases of securitised private debt, one of the stimulus measures the bank hopes will stave off deflation in the euro zone.

  • Oct 30- Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday, as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets. A halt to the stock market rally weighed on the earnings of all of Apollo's publicly listed peers, with KKR& Co LP and...

  • Oct 30- Apollo Global Management LLC reported a bigger-than-expected 91 percent drop in third-quarter profit on Thursday as its private equity funds depreciated, in stark contrast to its peers, and the firm generated less cash from selling assets. Economic net income after taxes was $48 million versus $550.9 million a year earlier. This translated into ENI...