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Diversified Financials Capital Markets

  • HONG KONG, March 2- A subsidiary of BlackRock Inc has become the first United States- based asset manager to be awarded a Renminbi Qualified Foreign Institutional Investor quota to invest in China's capital markets. On Thursday, BlackRock said that an 11 billion yuan quota was granted to BlackRock Fund Advisors by China's State Administration of Foreign...

  • NEW YORK, March 1- The world's largest hedge fund manager, Bridgewater Associates, is once again changing its leadership structure as part of a 10- year transition plan led by founder Ray Dalio. Dalio, a billionaire with influential macroeconomic views, will no longer serve as co-chief executive officer of the Westport, Connecticut- based firm, according to a note...

  • March 1- If you want to understand an industry you have to understand how employees get paid, and for what. A new study using the publicly available tax returns of mutual fund managers in Sweden portrays a mutual fund industry in which the interests of fund company owners and their managers are aligned, but those of fund managers and investors only kind of bump...

  • Canada's sixth-largest bank said net income in its personal banking and commercial business rose 18.3 percent to C $213 million, helped by higher personal mortgage lending. Net income in its wealth management business rose to C $101 million in the first quarter ended Jan. 31 from C $77 million. National Bank of Canada, which was the top adviser on Canadian debt...

  • FRANKFURT, March 1- Drugmaker Bayer has sold 1.46 billion euros of shares in its chemicals subsidiary Covestro, cutting its stake to 53.3 percent as it raises cash for its takeover of seeds maker Monsanto. The sale of 22 million shares, or 10.9 percent of Covestro's capital, at 66.50 euros each to institutional investors, puts the chemicals maker on track to enter...

  • BOSTON, March 1- Hedge fund giant Citadel on Wednesday became the latest U.S. investment firm to join the Hedge Fund Standards Board, the industry's global standard-setting body said in a newsletter. The London- based group said hedge fund managers Citadel plus Bermuda- based Hiscox Re Insurance Linked Strategies Ltd and Hong Kong- based Myriad Asset Management...

  • HONG KONG/ SHANGHAI, March 1- China's move to open its derivatives market to foreign bond investors could help counter outflows but lingering concerns about capital controls are keeping offshore investors cautious. Such measures could potentially help China win inclusion on global bond indexes, but investors say market accessibility and concerns about...

  • Feb 28- President Donald Trump opened the door on Tuesday to a broad overhaul of the U.S. immigration system and vowed to pursue massive tax relief for the middle class in a speech to Congress as he sought to rebound from a chaotic start to his presidency. 1/ 2 nL2N1GD0FO 3/ 8. BUCKY HELLWIG, SENIOR VICE PRESIDENT, BB&T WEALTH MANAGEMENT, BIRMINGHAM, ALABAMA:.

  • NEW YORK/ BOSTON, Feb 28- Fidelity Investments Inc and Charles Schwab Corp made moves in quick succession on Tuesday to slash trade commissions, accelerating the race to zero and foreshadowing a more important battle to win clients for potentially more lucrative services. Fidelity cut its commissions to trade stocks and exchange-traded funds to $4.95 from...

  • MADRID, Feb 28- Spain's Banco Sabadell said late on Tuesday it had agreed to sell its Florida- based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami. The sale, expected to close in the second half of 2017, will generate a net capital gain of 447 million euros for Sabadell, the bank said in a...

  • MADRID, Feb 28- Spain's Banco Sabadell said late on Tuesday it had agreed to sell its Florida- based retail banking unit to Iberiabank Corp for $1 billion, leaving it with corporate and private banking operations in Miami.

  • BOSTON, Feb 28- Investors disappointed by hedge funds' poor returns and managers eager to pull in fresh money are seeing eye to eye: the industry's once-hefty fees are being rolled back. In the United States, home to the bulk of the world's hedge funds, the number is even higher with 78 percent of polled managers saying they are ready to negotiate on fees, underscoring...

  • BOSTON, Feb 28- Investors disappointed by hedge funds' poor returns and managers eager to pull in fresh money are seeing eye to eye: the industry's once-hefty fees are being rolled back. In the United States, home to the bulk of the world's hedge funds, the number is even higher with 78 percent of polled managers saying they are ready to negotiate on fees, underscoring...

  • NEW YORK/ BOSTON, Feb 28- Fidelity Investments Inc and Charles Schwab Corp made moves in quick succession on Tuesday to slash trade commissions, accelerating the race to zero and foreshadowing a more important battle to win clients for potentially more lucrative services. Fidelity cut its commissions to trade stocks and exchange-traded funds to $4.95, from...

  • NEW YORK/ BOSTON, Feb 28- Fidelity Investments Inc and Charles Schwab Corp made moves in quick succession on Tuesday to slash trade commissions, accelerating the race to zero and foreshadowing a more important battle to win clients for potentially more lucrative services. Fidelity cut its commissions to trade stocks and exchange-traded funds to $4.95, from...

  • BOSTON, Feb 28- Fidelity Investments said on Tuesday it cut the price on trades for stocks and exchange-traded funds by 38 percent for retail brokerage clients. Boston- based Fidelity's price reduction to $4.95 from the previous commission of $7.95 a trade was swiftly followed by news that competitor Charles Schwab Corporation would also lower fees on...

  • BOSTON, Feb 28- Fidelity Investments said on Tuesday it cut the price on trades for stocks and exchange-traded funds by 38 percent for retail brokerage clients. Boston- based Fidelity's price reduction to $4.95 from the previous commission of $7.95 a trade will probably put pressure on the rest of the U.S. brokerage industry. Discount brokers TD Ameritrade...

  • *EPS C $1.58 vs forecast C $1.57. However, Barclays analyst John Aiken said that earnings were boosted by a gain of around C $40 million on the sale of real estate in Canada and an unquantified gain on an investment in Colombia. "Therefore, the view of earnings is either C $1.55 or a low quality C $1.58 and will likely be viewed disappointing against consensus forecast...

  • NEW YORK, Feb 28- Wells Fargo& Co's wealth management business said on Tuesday it would launch its new robo-adviser Intuitive Investor later this year in a bid to develop a new revenue stream from existing Millennial customers who may be looking to open their first investment account in a crowded online market. Devon McConnell, Wells Fargo Advisors' head of...

  • A pedestrian walks past a stock ticker at a Fidelity Investments office in Boston, Massachusetts.

    Fidelity Investments said on Tuesday it cut the price on trades for stocks and exchange-traded funds by 38 percent for retail brokerage clients.