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Diversified Financials Capital Markets

  • BOSTON, Oct 23- Marcato Capital Management sued Deckers Outdoor Corp on Monday to force the maker of Ugg boots to hold its annual meeting and classify the hedge fund's board nominees so the company could avoid millions of dollars in financial penalties. The lawsuit filed in Delaware Chancery Court heightens tensions between Deckers and the hedge fund, which...

  • BOSTON, Oct 23- Proxy advisory firm Glass Lewis recommended on Monday that Automatic Data Processing Inc shareholders vote for all three dissident directors proposed by activist investor Bill Ackman. Glass Lewis, which advises large institutional investors, is the first advisory firm to issue its findings before the Nov. 7 vote, where shareholders will...

  • BOSTON, Oct 23- Proxy advisory firm Glass Lewis said on Monday that it recommends Automatic Data Processing shareholders vote for all three dissident directors, giving activist investor Bill Ackman a boost in a bitter proxy battle with the company. Glass Lewis, which advises large institutional investors, is the first advisory firm to issue its findings...

  • NEW YORK, Oct 23- BlackRock Inc, the world's largest asset manager, is lambasting the architects of market indexes like the S&P 500 for ostracizing companies that deny equal voting rights to shareholders, saying that doing so could limit the opportunities of investors in index funds. Snap Inc, the parent company of messaging app Snapchat, made waves when it went...

  • HONG KONG, Oct 23- Chinese firms Primavera Capital Group and CITIC Private Equity plan to raise new dollar-denominated funds totalling around $5 billion in a bid to bolster their firepower for offshore investments, six sources told Reuters. Primavera, run by former Goldman Sachs Greater China Chairman Fred Hu, aims to raise around $2.8 billion in its third fund...

  • LONDON, Oct 23- Britain's financial watchdog has fined Bank of America's Merrill Lynch investment banking arm 34.5 million pounds for its third transaction reporting failure in just over a decade. The Financial Conduct Authority said the bank failed to have adequate oversight arrangements, undertake testing or allocate enough staff to properly meet...

  • Prolonged ultra-loose monetary policy has squeezed margins of financial institutions in many advanced economies including Japan, where its central bank caps borrowing costs at zero percent through aggressive money printing to reflate growth. But global comparisions show profitability is particularly low in Japan, "the central bank said in a...

  • BOSTON, Oct 22- Less than a year into her tenure as chairman of Fidelity Investments, Abigail Johnson faces a crisis amid allegations that the mutual fund giant has a men's club mentality. Johnson is addressing inappropriate workplace conduct such as sexual harassment by hiring a consulting firm to review employee behavior stretching back years, the Wall...

  • NEW YORK, Oct 22- JPMorgan Chase& Co has partnered with data analytics start-up Mosaic Smart Data to help its fixed-income sales and trading business become more profitable. The London- based start-up has developed technology that aggregates and analyzes vast amounts of data from the fixed-income trading division of investment banks to help them make more...

  • Deltic had said in August that it would work with investment bank Goldman Sachs Group Inc and law firm Davis Polk& Wardwell LLP to review its options after activist shareholder Southeastern Asset Management Inc pressured it to explore a sale. The Wall Street Journal, which first reported the news, cited sources as saying Potlatch would offer 1.8 of its common...

  • NEW YORK, Oct 22- Fidelity Investments has hired a consulting firm to review employee behavior amid allegations of sexual harassment at the U.S. money manager stretching back years, the Wall Street Journal reported on Sunday. Brian Hogan, president of Fidelity's stock-picking division, held an emergency meeting on Monday afternoon with his staff to stress the...

  • *RBR CEO speaking at a conference in New York. ZURICH, Oct 20- Activist investor RBR Capital Advisors wants to expand its stake in Credit Suisse to 1 billion Swiss francs, as the hedge fund pushes to spin off the Swiss lender's investment bank and asset management business. RBR Chief Executive Rudolf Bohli is trying to drum up fresh cash to take a larger position in...

  • Oct 20- Procter& Gamble Co disappointed Wall Street with sales on Friday, hurt by continuing weakness in its Gillette business, a week after it claimed to have fought off hedge-fund manager Nelson Peltz's move to muscle onto the board. Net sales in the firm's first quarter results rose just 1 percent to $16.65 billion, missing analysts' expectations of $16.69...

  • Oct 20- Procter& Gamble Co disappointed Wall Street with sales on Friday, a week after it claimed to have fought off hedge-fund manager Nelson Peltz's move to muscle onto the board and force more dramatic change at the consumer goods giant. Net sales in the firm's first quarter results rose just 1 percent to $16.65 billion, missing analysts' expectations of $16.69...

  • Oct 20- Consumer goods giant Procter& Gamble Co, which recently declared victory against hedge-fund manager Nelson Peltz's attempt to muscle his way onto the board, reported tepid sales that missed Wall Street estimates. Sales in the grooming business fell more than analysts' had anticipated despite P&G cutting prices on tough competition from upstarts like...

  • The maker of Tide detergent and Pampers diapers said net income attributable to the company rose to $2.85 billion or $1.06 per share in the first quarter ended Sept. 30, compared with $2.71 billion, or 96 cents per share, a year ago. Net sales for the company, which recently won an historic proxy fight battle with hedge fund manager Nelson Peltz who tried to muscle...

  • NEW YORK, Oct 19- U.S. stocks were flat on Thursday, pausing after their recent run of record highs, as technology shares dragged and some earnings disappointed. There was also profit-taking in the tech sector, said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York. "There's not a strong downside case right now to shake up the narrative and get...

  • *Apple dips amid concerns over iPhone 8 demand, FAANG stocks down. Oct 19- Losses in Apple stalled Wall Street's record run on Thursday as worries over slack demand for iPhone 8 sent its shares down 2.5 percent. "Apple has its impact across the board," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York.

  • *Apple dips amid concerns over iPhone 8 demand. Oct 19- Wall Street pulled back from record highs on Thursday with Apple leading a decline in technology stocks and a bunch of weak corporate results adding to the dour mood. "Apple has its impact across the board," said Phil Blancato, head of Ladenburg Thalmann Asset Management in New York.

  • ZURICH, Oct 19- Activist investor RBR Capital Advisors wants Credit Suisse to float its asset management business and investment bank, valuing them at more than 20 billion Swiss francs when split from the rest of the bank, according to a presentation reviewed by Reuters. The Swiss hedge fund went public this week with a campaign to break up Switzerland's...