Tag Archives: money

Ackman apologizes for Valeant losses, calls bet a mistake

BOSTON (Reuters) – Billionaire investor William Ackman told investors that betting on Valeant Pharmaceuticals International Inc was a “huge mistake” and apologized “deeply and profoundly” for losing so much of his shareholders’ money on the investment.

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Ackman apologizes for Valeant losses, calls bet a mistake

BlackRock cuts fees and jobs; stockpicking goes high-tech

NEW YORK (Reuters) – BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market.

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BlackRock cuts fees and jobs; stockpicking goes high-tech

BlackRock cuts fees, jobs; stockpicking goes high-tech

NEW YORK (Reuters) – BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market.

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BlackRock cuts fees, jobs; stockpicking goes high-tech

Wells Fargo to pay $110 million to settle lawsuit over account abuses

(Reuters) – Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank’s chief executive his job.

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Wells Fargo to pay $110 million to settle lawsuit over account abuses

Once golden, Robert Rubin’s hedge fund proteges lose some luster

BOSTON/NEW YORK (Reuters) – Learning to invest on Goldman Sachs’ risk arbitrage desk, made famous by leader Robert Rubin, was once seen as a fast track to fortune. But the band of hedge fund protégés who mastered their trade under the former Wall Street star and U.S. Treasury Secretary have stumbled in recent years.

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Once golden, Robert Rubin’s hedge fund proteges lose some luster

For Goldman Sachs, a rare pass from shareholder resolutions

NEW YORK/BOSTON (Reuters) – For the first time in more than a decade, Goldman Sachs Group Inc has managed to avoid any proxy battles with activist shareholders by convincing investors and securities regulators that voting on several proposed corporate policy changes were unnecessary.

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For Goldman Sachs, a rare pass from shareholder resolutions

If healthcare vote fails, would jeopardize ‘Trump trades’: Gundlach

NEW YORK (Reuters) – If the U.S. healthcare legislation overhaul is not passed, or is postponed, it will put “a lot of doubt” on the “Trump trades,” which include higher U.S. equities and bond yields, DoubleLine Capital Chief Executive Jeffrey Gundlach said on Wednesday.

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If healthcare vote fails, would jeopardize ‘Trump trades’: Gundlach

SEC shortens settlement cycle for securities trades

WASHINGTON (Reuters) – U.S. securities regulators moved on Wednesday to modernize regulations that require stock and bond trades to settle within three business days, a step the industry has urged the government to take for years.

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SEC shortens settlement cycle for securities trades

U.S. bank stocks fall as investor hope wanes for policy boosts

(Reuters) – Shares in U.S. banks tumbled on Tuesday as investors shrunk back from a post-election rally on worries that President Donald Trump would not be able to live up to his promises for large-scale relief on tax and regulation.

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U.S. bank stocks fall as investor hope wanes for policy boosts

U.S. investor, CEO groups set for lobbying battle over proxy challenges

WASHINGTON (Reuters) – Shareholder activists are pushing back against a major business trade group’s request that the White House use its influence on the U.S. securities regulator to make it harder to get governance, political or environmental issues onto corporate ballots, according to a letter seen by Reuters on Monday.

U.S. investor, CEO groups set for lobbying battle over proxy challenges

Goldman building robo-adviser to give investment advice to the masses

(Reuters) – Goldman Sachs Group Inc , known for advising the world’s richest and most powerful, is building a so-called robo-adviser geared to mass affluent customers, according to a job listing posted Monday on the bank’s website.

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Goldman building robo-adviser to give investment advice to the masses

MoneyGram board says Euronet offer could result in superior proposal

(Reuters) – U.S. electronic payments company MoneyGram International Inc said on Monday that peer Euronet Worldwide Inc’s offer could result in a superior proposal compared to the one from China’s Ant Financial Services Group.

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MoneyGram board says Euronet offer could result in superior proposal

MoneyGram offers to give Euronet confidential info to firm up bid: sources

(Reuters) – U.S. electronic payments company MoneyGram International Inc has offered to share confidential information with peer Euronet Worldwide Inc , after the latter made a $1 billion acquisition offer, people familiar with the matter said.

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MoneyGram offers to give Euronet confidential info to firm up bid: sources

MoneyGram offers to give Euronet confidential info to firm up bid-sources

(Reuters) – U.S. electronic payments company MoneyGram International Inc has offered to share confidential information with peer Euronet Worldwide Inc , after the latter made a $1 billion acquisition offer, people familiar with the matter said.

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MoneyGram offers to give Euronet confidential info to firm up bid-sources

MoneyGram to give Euronet confidential info to firm up bid: sources

(Reuters) – U.S. electronic payments company MoneyGram International Inc will share confidential information with peer Euronet Worldwide Inc , after the latter made a $1 billion acquisition offer, according to people familiar with the matter.

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MoneyGram to give Euronet confidential info to firm up bid: sources