NEW YORK, Sept 29- CNO Financial Group Inc on Thursday said that two of its subsidiaries were terminating agreements with reinsurer Beechwood Re, after regulators in two states said that many assets managed by Beechwood were not compliant with insurance company guidelines because of exposure to troubled hedge fund manager Platinum Partners.
The world stockpile of platinum is shrinking as investors hold off on selling and the threat of a miners strike looms, experts have said.
NEW YORK, Aug 15- CNO Financial Group reinsurance provider Beechwood Re sought on Monday to minimize damage from its links to Platinum Partners, the hedge fund manager embroiled in dual federal probes. New York- based Platinum is being investigated by the Department of Justice and the U.S. Securities and Exchange Commission. Beechwood said Monday that it was in...
LONDON, Aug 10- The London Metal Exchange has announced the launch next year of a suite of precious metals contracts, starting with gold and silver and eventually encompassing platinum and palladium. It's not the first time the LME has ventured into the opaque world of London's bullion trade. The London bullion market remains a fractured and fractious...
Norman Seabrook, the Correction Officers' Benevolent Association's ex-president, and Murray Huberfeld, a longtime associate of hedge fund manager Platinum Partners, pleaded not guilty to conspiracy and honest services wire fraud charges in Manhattan federal court. Prosecutors said Seabrook, 56, accepted a $60,000 bribe in 2014 orchestrated by Huberfeld,...
NEW YORK, June 22- Agents from the Federal Bureau of Investigation and the U.S. Postal Inspection Service raided the New York headquarters of hedge fund firm Platinum Partners Wednesday morning, according to a person familiar with the situation. Kelly Langmesser, an FBI spokeswoman, confirmed a "law enforcement action" was undertaken at the hedge fund firm's...
NEW YORK, June 14- U.S. hedge fund Platinum Partners is returning the majority of its assets to clients following the arrest of a longtime associate on allegations he orchestrated a $60,000 cash bribe to secure an investment from a New York city union. New York- based Platinum told investors on a conference call on Tuesday that recent negative media attention and...
NEW YORK, June 14- Platinum Partners, the hedge fund firm linked to a New York City corruption scandal, is returning a majority of its assets to clients, according to a person familiar with the situation. New York- based Platinum told investors on a conference call on Tuesday that recent negative media attention and requests for the return of capital had forced it...
JOHANNESBURG, June 13- South Africa's National Union of Mineworkers has secured exclusive union rights for workers at platinum producer Royal Bafokeng Platinum, it said on Monday. The deal will keep out the hardline Association of Mineworkers and Construction Union at RBPlat, a mid-level producer which made a loss last year due to weak commodities prices.
*Palladium lagging gains in gold, silver, platinum. LONDON, May 17- Investor appetite for palladium-backed exchange-traded funds is failing to pick up after a dismal 2015, pointing to another difficult year for the metal despite the prospect of a deepening supply deficit. "It is a big concern," Julius Baer analyst Carsten Meneke said.
Andrei Bugrov, senior vice president at Norilsk Nickel, talks about the health and future outlook of the nickel, palladium and platinum market.
Andrei Bugrov, senior vice president at Norilsk Nickel, says the firm doesn’t see China’s competition as bitter or lethal, but is instead “blessed” by having a “neighbor” like China.
Following Lonmin’s latest earnings report, its CEO, Ben Magara breaks down the key factors behind the figures.
Small businesses are feeling the negative affects in the South African tourism industry after a 27 percent drop in the rand.
Mark Cutifani, CEO of Anglo American, discusses the plans to sell its iron ore producer and says it will focus on diamonds, platinum and copper.
David Wilson, director of metals research and strategy for Citi, says he expects demand for platinum from the autos industry to pick up.
One famed analyst says this might be the perfect time for commodities investors to pounce.
James Cordier, founder of OptionSellers.com, discusses the impact that the Volkswagen emissions scandal has on the prices of platinum and palladium.
Marc Elliott, mining analyst at Investec, discusses the job cuts at Lonmin and other mining companies, as commodity prices, hit record lows.
Lonmin CEO, Ben Magara, discusses the effect of low platinum prices on business, saying the precious metal will eventually see a rebound.