SAO PAULO, Aug 20- Shares in Brazilian telecoms carrier Oi SA posted heavy losses on Tuesday, after media reports that its largest shareholder, GoldenTree Asset Management, is seeking to replace Oi's Chief Executive Officer Eurico Teles. According to the media outlet, Oi Chairman Eleazar de Carvalho has proposed Rodrigo Abreu, a member of Oi's board since...
HEDGE FUND MANAGER KYLE BASS SAYS WE ARE GOING TO HAVE A "SHALLOW RECESSION" POTENTIALLY IN 2020- CNBC INTERVIEW.
In the three years since Saudi Crown Prince Mohammed Bin Salman first proposed a stock market listing, climate change and new green technologies are putting some investors, particularly in Europe and the United States, off the oil and gas sector. "Saudi Aramco is a really interesting test as to whether the market is getting serious about pricing in energy...
Commerce Secretary Wilbur Ross company has been flourishing in China, even as he marshals billions of dollars' worth of punishing tariffs in America's deepening trade war. U.S. money manager Invesco Ltd- for which Ross was a senior executive from 2006 until he joined Trump's cabinet in February 2017- has become the top foreign manager of Chinese money in China...
Aug 13- Asset manager Brookfield Business Partners LP said on Tuesday it would buy 57% in Genworth Financial Inc's Canadian mortgage insurance unit for about C $2.4 billion.
*H1 headline earnings per share 918.4 cents vs 877.8 last year. JOHANNESBURG, Aug 13- A drop in earnings at Absa's South African corporate and investment bank took the shine off progress at its core domestic retail business as the lender reported a 5% rise in first-half profit on Tuesday. Its drive to regain retail banking market share at home and grow sales...
LONDON, Aug 13- Hedge fund managers remain deeply divided about what matters more for the future direction of oil intensifying fears about a global recession or Saudi Arabias production cuts and other supply disruptions. Position changes have probably been dampened by the seasonal absence of senior trading staff during the summer holidays across North...
LONDON, Aug 13- Hedge fund managers remain deeply divided about what matters more for the future direction of oil intensifying fears about a global recession or Saudi Arabias production cuts and other supply disruptions. Position changes have probably been dampened by the seasonal absence of senior trading staff during the summer holidays across North...
LONDON, Aug 12- Hedge fund managers remain deeply divided about what matters more for the future direction of oil intensifying fears about a global recession or Saudi Arabias production cuts and other supply disruptions. Position changes have probably been dampened by the seasonal absence of senior trading staff during the summer holidays across North...
Wee May Ling, a Singapore- based investment manager at Janus Henderson Investors, said sentiment changed swiftly this week as China's currency fell and Chinese firms stopped purchases of U.S. farm products. Outstanding contracts of put equity options in China- a form of insurance against a drop in Shanghai's SSE50 index- rose to a record 1.5 million this week.
BOSTON, Aug 7- Hedge fund Hoplite Capital is returning money to outside clients after a period of sluggish returns, the firm's founder, John Lykouretzos, told investors in a letter on Wednesday. The New York- based firm's decision to shut down marks the latest in a string of hedge fund closures and illustrates how difficult it has become to run a profitable firm at a...
NEW YORK, Aug 7- Big U.S. banks are under pressure again, as policymakers around the globe have dashed any hopes that the industry might finally be able to earn more money on loans, after more than a decade of rock-bottom interest rates. On Wednesday, central banks in New Zealand, India and Thailand slashed their benchmark rates to prop up their economies and stave off...
BOSTON, Aug 7- Investor Jeffrey Tarrant, whose firm Protege Partners backed billionaire managers including William Ackman and Marc Lasry early in their careers and made a bet with Warren Buffett that hedge funds would outperform a passive index fund, has died at age 63.. Over 17 years, Tarrant turned Protege Partners into a powerful backer of small hedge funds,...
*FTSE 100 up 0.4%, FTSE 250 up 0.5%. Aug 7- London's FTSE 100 snapped a six-day losing streak after a topsy-turvy session on Wednesday as investors composed themselves after sell-offs triggered by worries over the U.S.- China trade dispute and a weaker sterling supported exporter stocks. The FTSE 100 has tumbled more than 5% in just a week, after having gained in...
*FTSE 100 up 0.5%, FTSE 250 up 0.6%. Aug 7- London's FTSE 100 gained on Wednesday after a run of six losing sessions triggered by worries over the U.S.- China trade dispute, though poor earnings for global commodities trader Glencore and a handful of other companies limited gains. The blue-chip FTSE 100 added 0.5%, supported by broad gains in shares of heavyweight...
BRUSSELS, Aug 6- HSBC's Swiss private banking arm has agreed to pay nearly 300 million euros to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday, the latest blow for the Alpine state's banking sector from the EU. UBS, which is under investigation in Belgium for a similar case, denies the charges. Swiss banks have been exposed to such legal...
BRUSSELS, Aug 6- HSBC's Swiss private banking arm, has agreed to pay nearly 300 million euros to settle a tax fraud case in Belgium, Belgian prosecutors said on Tuesday. They alleged that HSBC helped and encouraged tax fraud by creating off-shore companies in Panama and other tax heavens in the Caribbean for wealthy Belgian clients "with no other purpose but to...
NEW YORK, Aug 6- Many Wall Street workers will see their pay stay flat or decline this year, as big banks and money managers continue to cut costs, according to a report on Tuesday by compensation consultancy Johnson Associates. Those in equities trading and underwriting will be hardest hit, with annual pay packages down 10-15%, Johnson Associates predicted.
*Asset managers increasingly outsource their trading. LONDON, Aug 6- It's 10 o'clock at night, and Benjamin Arnold's day is just beginning. The former Goldman Sachs trader is gearing up to trade equities in Asia from his small office thousands of miles away in Park City, Utah.
LONDON, Aug 5- Hedge fund managers were deeply divided over the future direction for oil prices, until the United States announced fresh tariffs on China and sent prices plunging late last week. But hedge fund buying came when trade talks between the United States and China appeared to be back on track and before the announcement on Aug. 1 of new tariffs.
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