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Diversified Financials Capital Markets

  • Oct 12- Citigroup Inc's quarterly earnings beat Wall Street expectations on Thursday as cost-cutting, a unit sale and a gain in investment bank fees compensated for weak bond trading and a jump in provisions for consumer bad debts. Chief Executive Michael Corbat has pledged to grow profits from consumer lending to stock trading, and return tens of billions of...

  • PARIS, Oct 12- AXA's asset management arm said on Thursday that it had been in talks with a number of players interested in a potential transaction, but the business remained strategic for its parent insurance group, its chief executive said in an Email to staff. "I know that there have been a lot of press reports and rumours over the past weeks concerning possible...

  • NEW YORK— Financial conglomerate Citigroup said its third-quarter profits increased 8 percent from a year earlier, helped by a boost in its investment banking division. Citigroup said it earned $4.13 billion, or $1.42 per share, compared with a profit of $3.84 billion, or $1.24 per share, in the same period a year earlier. In a statement, Citigroup CEO Michael...

  • LONDON, Oct 12- A group of investors including buyout firm Apollo and pension fund Canada Pension Plan is bidding for coal assets put up for sale by mining giant Rio Tinto, which could fetch $2 billion, sources familiar with the matter told Reuters. They added that Anglo American had expressed an interest but the deteriorating outlook for met coal, whose...

  • LONDON, Oct 12- HSBC has appointed John Flint as its next chief executive the bank said on Thursday, sticking with a tradition of promoting company insiders to run the firm. Flint, who currently runs HSBC's retail and wealth management business, will start in his new role on Feb 21 2018, taking over from current chief executive Stuart Gulliver, who is retiring after...

  • LONDON, Oct 12- HSBC has named John Flint as its next chief executive the bank said on Thursday, sticking with its model of always promoting company insiders to run the firm. Flint, who currently runs HSBC's retail and wealth management business, will start his new role on Feb 21 2018, Europe's biggest bank said, taking over from outgoing Chief Executive Stuart...

  • In that time he has withdrawn the United States from the Trans-Pacific Partnership, threatened to withdraw from the North American Free Trade Agreement and chided Germany for its huge trade surplus. Last month Paris and Rome said they will explore the creation of a Franco-Italian naval defence group, merging French military shipyards company Naval Group...

  • In that time he has withdrawn the United States from the Trans-Pacific Partnership, threatened to withdraw from the North American Free Trade Agreement and chided Germany for its huge trade surplus. Last month Paris and Rome said they will explore the creation of a Franco-Italian naval defence group, merging French military shipyards company Naval Group...

  • In that time he has withdrawn the United States from the Trans-Pacific Partnership, threatened to withdraw from the North American Free Trade Agreement and chided Germany for its huge trade surplus. Last month Paris and Rome said they will explore the creation of a Franco-Italian naval defense group, merging French military shipyards company Naval Group...

  • In that time he has withdrawn the United States from the Trans-Pacific Partnership, threatened to withdraw from the North American Free Trade Agreement and chided Germany for its huge trade surplus. Last month Paris and Rome said they will explore the creation of a Franco-Italian naval defense group, merging French military shipyards company Naval Group...

  • NEW YORK— U.S. stock indexes retreated from their record highs Thursday as retailers and media companies declined and investors shrugged at quarterly reports from a few big banks. AT&T had its worst one-day loss since 2008 after it said lost more satellite and cable TV subscribers in the third quarter. JPMorgan Chase and Citigroup both did better than analysts...

  • NEW YORK/ LONDON, Oct 11- BlackRock Inc will consider paying out-of-pocket for the investment research the world's largest asset manager consumes from banks globally, Chief Executive Larry Fink said on Wednesday. Yet a sweeping set of European Union rules due to take effect in January include a requirement for asset managers to agree on a price for research...

  • NEW YORK, Oct 11- UBS Group AG will hire fewer trainees in 2018 but spend two to three times more on teaching them to be financial advisers, a senior executive said, in the latest sign of industry efforts to satisfy wealthier clients and grapple with an aging workforce. UBS Wealth Management Americas President Tom Naratil said the company would hire 30 percent...

  • The world's biggest asset manager reported an 8.2 percent rise in quarterly profit on Wednesday, beating Wall Street estimates on almost every count as it attracted $96 billion, with about half of that moving into relatively low-cost exchange-traded funds. The increase in assets under management to $5.98 trillion, a figure on par with Japan's gross domestic...

  • Yet results also will reflect a hit from storms in the southern United States and Puerto Rico in a broad range of industries including energy, transportation, chemicals manufacturing and retail. "For both macro data and earnings, create more uncertainty," said Bob Doll, chief equity strategist at Nuveen Asset Management in Princeton, New Jersey.

  • NEW YORK, Oct 11- BlackRock Inc Chief Executive Larry Fink on Wednesday warned that strong demand for investments such as long-dated government bonds could push their prices to a risky point. The head of the world's largest asset management company said investors' appetite for those assets could move long-dated yields below those of shorter-term debt.

  • Oct 11- Wall Street was sluggish at the open on Wednesday, as strong results for BlackRock, the world's biggest asset manager, and an upbeat mood in Europe failed to offset caution about third quarter corporate results. The Dow Jones Industrial Average rose 3.99 points, or 0.02 percent, to 22,834.67. The S&P 500 lost 0.56 points, or 0.02 percent, to 2,550.08.

  • Oct 11- BlackRock Inc closed in on $6 trillion in assets under management as investors stormed into their index funds and the bull market in U.S. stocks raged on, it said on Wednesday. BlackRock, the world's biggest asset manager, reported an 8.2 percent rise in quarterly profit, beating Wall Street estimates as it attracted $96 billion into its funds, about half of...

  • *FOMC releases minutes from Sept policy meeting at 2:00 p.m. ET. Oct 11- Wall Street's main indexes were set to inch down at opening on Wednesday, strong results for the world's biggest asset manager, BlackRock and an upbeat mood in Europe failing to offset caution about third quarter corporate results. "Third quarter results of large banks are expected to be...

  • Oct 11- BlackRock Inc, the world's biggest asset manager, reported a 8.2 percent rise in quarterly profit that beat Wall Street estimates on Wednesday, helped by higher fees as investors moved more money into low-cost exchange traded funds. BlackRock's iShares exchange-traded funds business took in $52.3 billion in new money, up from $51.26 billion, a year...