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Diversified Financials Capital Markets

  • NEW YORK, April 4- BlackRock Inc, the world's biggest asset manager, slashed the amount it paid out in commissions to Wall Street firms for research by more than half for its largest mutual fund over the last two years, according to filings. The cuts show the immense power large asset managers have to curb fees they pay banks and the diminishing role of sell-side...

  • LONDON, April 4- Global investment banking fees reached a 10- year high in the first quarter of 2017 with more than half of the $24 billion in total takings coming from North America, Thomson Reuters data showed on Tuesday. Wall Street banks took the top five places last quarter, led by JP Morgan, which earned $1.7 billion in fees, followed by Goldman Sachs with $1.5...

  • LONDON, April 4- Global investment banking fees reached a 10- year high in the first quarter of 2017 with more than half of the $24 billion in total takings coming from North America, Thomson Reuters data showed on Tuesday. Wall Street banks took the top five places last quarter, led by JP Morgan which earned $1.7 billion in fees, followed by Goldman Sachs with $1.5...

  • SAO PAULO, April 4- Fundação Cesp is betting on equities and hedge fund investments to offset the impact of a faster-than-expected decline in Brazilian interest rates that may lead dozens of fellow pension funds to miss their return targets this year, Chief Executive Officer Martin Glogowsky said in an interview. His comments underscore how Brazil's...

  • LONDON/ NEW YORK, April 4- British hedge fund manager Alan Howard has raised more than $700 million from outside investors for a new fund that he will solely manage, two sources with knowledge of the matter told Reuters. The AH Fund seeks a minimum $50 million investment from each investor, documents filed with U.S. regulator the Securities and Exchange Commission...

  • SAO PAULO, April 4- Morgan Stanley and Banco Bradesco BBI SA topped Brazil's mergers and acquisitions rankings in the first quarter, buoyed by advisory roles in the $21 billion corporate reorganization of Vale SA, the world's No.1 iron ore producer. New York- based Morgan Stanley and Bradesco BBI, the investment-banking arm of Brazil's No. 3 listed lender Banco...

  • TOKYO, April 4- Japan's Nikkei share average fell on Tuesday as the safe-haven yen rose and as automakers tumbled on weaker-than-expected U.S. sales. Treasury notes overnight fell to the lowest level since Feb. 27. "Stock investors are becoming nervous about U.S. yields," said Isao Kubo, equity strategist at Nissay Asset Management, adding that markets are focused...

  • LONDON, April 3- Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds net position in Brent and WTI has been cut to 642 million barrels, down from a record 951 million barrels on Feb. 21. The result is that the ratio of long to short positions in Brent and WTI...

  • DETROIT, April 3- General Motors Co on Monday outlined in a regulatory filing contacts with billionaire hedge fund manager David Einhorn who went public last week with a plan to boost GM's value and announced its slate of board nominees, all of whom currently serve on the board. Einhorn, who runs hedge fund Greenlight Capital, has proposed that GM create two...

  • LONDON, April 3- Hedge funds have continued liquidating their large bullish position in crude amid doubts about the pace and timing of any rebalancing in the oil market. Hedge funds net position in Brent and WTI has been cut to 642 million barrels, down from a record 951 million barrels on Feb. 21. The result is that the ratio of long to short positions in Brent and WTI...

  • DUBAI, April 3- The head of corporate and investment banking at Dubai's Mashreq is leaving to become chief executive of Noor Bank, sources familiar with the matter told Reuters on Monday. Mashreq, Dubai's third-biggest bank by assets, said John Iossifidis was leaving to pursue other opportunities, adding he had made a significant contribution to the bank's...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • LONDON, April 3- Nine years after the beginning of a 45- billion-pound bailout by the British government, Royal Bank of Scotland is emerging from its restructuring process a shadow of what was once the biggest lender in the world. RBS had a balance sheet of 2.4 trillion pounds in 2008- almost double Britain's annual economic output at the time- having staged a...

  • NEW YORK, March 31- Third Avenue Management and its founder Martin Whitman have reached a $14.25 million settlement of a lawsuit by investors who accused the well-known value investment firm of mismanaging a junk bond mutual fund that collapsed in December 2015. The preliminary all-cash settlement was filed on Friday with the U.S. District Court in Manhattan,...

  • ZURICH, March 31- Credit Suisse is conducting an internal investigation over whether staff breached compliance rules after three of its offices were searched in tax evasion probes, the head of its International Wealth Management division said on Friday. "The investigation will be executed by compliance, it will not be executed by the business," Iqbal Khan, who is...

  • NEW YORK/ BOSTON, March 31- BlackRock Inc's decision to revamp part of its stock-picking business puts further pressure on active U.S. equity managers to cut fees, change products and merge to stem a relentless, 12- year decline in assets. The moves affect about 11 percent of its $275 billion active stock fund business but are a drop in the ocean for the company, the...

  • TORONTO, March 31- Victor Li, co-chairman of Husky Energy Inc and son of one of Asia's richest men, has agreed to acquire Reliance Home Comfort, a Canadian provider of heating and cooling systems, from U.S. investment firm Alinda Capital Partners for C $2.8 billion, Reliance said on Friday. Li's acquisition comes through his CKP Canada vehicle, a unit of Hong Kong...

  • JOHANNESBURG, March 31- Brian Joffe, the founder of South Africa's Bidvest, will list a 2 billion rand investment firm, Long4Life, on the Johannesburg Securities Exchange next week, the firm said in a pre-listing statement on Friday. Joffe will provide 100 million rand of the capital himself and institutional investors will subscribe for the rest before listing...