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Reuters: Wealth

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Your Money: Charitable granting soars even as tax changes transform giving

PersonalFinance

Wed, 16 Oct 2019 19:13:58 -0400

Despite tax reforms that changed an important incentive for giving to charities last year, Americans are still giving away record amounts - just from funds they had put aside for donations in...

Boston pension votes to fire money manager Fisher, withdrawals surge toward $1 billion

PersonalFinance

Wed, 16 Oct 2019 17:03:57 -0400

The City of Boston's retirement board on Wednesday voted unanimously to end its relationship with money manager Kenneth Fisher, whose firm has lost almost $1 billion in assets after allegations he...

Fidelity criticizes money manager Fisher, who loses Philadelphia as client

PersonalFinance

Tue, 15 Oct 2019 22:36:32 -0400

Fidelity Investments on Tuesday said it was reviewing its relationship with money manager Ken Fisher while Philadelphia's board of pensions terminated its business with his firm after he allegedly...

Buffett's Berkshire seeks Fed leeway to boost BofA bet: Fed

PersonalFinance

Tue, 15 Oct 2019 18:46:01 -0400

Warren Buffett's Berkshire Hathaway Inc is seeking permission from the Federal Reserve to boost its stake in Bank of America Corp above the 10% level, according to an application document provided by...

Hedge fund D.E. Shaw raises pressure on Emerson, calls for breakup

PersonalFinance

Tue, 15 Oct 2019 13:45:10 -0400

Hedge fund D.E. Shaw on Tuesday increased the pressure on Emerson Electric Co by publicly urging a breakup of the U.S. industrial conglomerate, a move it says could unlock more than $20 billion worth...

Wall Street Week Ahead: Bruised U.S. banks expected to report third quarter earnings decline

PersonalFinance

Sat, 12 Oct 2019 00:12:54 -0400

The biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates, which may have pressured net interest margins enough to cause the sector's...

Italy's Del Vecchio calls on Mediobanca to grow through M&A

PersonalFinance

Fri, 11 Oct 2019 10:28:54 -0400

Mediobanca's third-biggest investor Leonardo Del Vecchio called for it to get bigger through acquisition on Friday, stepping up his questioning of the Italian merchant bank's strategy.

Brexit extension, election still most likely, says UBS

PersonalFinance

Fri, 11 Oct 2019 10:27:25 -0400

UBS Wealth Management said on Friday it still expects the UK government to ask for an extension to the deadline for exiting the European Union and to hold a general election, though it acknowledged...

Elliott ranks as busiest activist hedge fund in third quarter, again

PersonalFinance

Fri, 11 Oct 2019 10:25:01 -0400

Elliott Management, Paul Singer's $35 billion hedge fund, kept up its blistering pace of pushing for corporate changes during the third quarter, outspending all rivals with campaigns at AT&T and...

Fidelity follows rivals in cutting online trading commissions to zero

PersonalFinance

Thu, 10 Oct 2019 13:43:26 -0400

Fidelity Investments on Thursday eliminated commissions on online trades of U.S. stocks, exchange traded funds (ETFs) and options, becoming the latest brokerage to cut trading fees to compete with...

Exclusive: Wells Fargo beefs up mortgage division to cope with higher volumes

PersonalFinance

Thu, 10 Oct 2019 13:41:27 -0400

Wells Fargo & Co is boosting its teams that process mortgage loans to prepare for higher mortgage volumes, changing course after it laid off about 1,000 employees...

Yields rise on heavy supply at auction and trade hopes

PersonalFinance

Wed, 09 Oct 2019 15:45:06 -0400

U.S. Treasury yields rose on Wednesday, a day that saw a flood of supply and on optimism for progress in U.S.-China trade negotiations that begin in Washington on Thursday.

Fund investors dump U.S. stocks as recession worries mount

PersonalFinance

Wed, 09 Oct 2019 13:36:11 -0400

Investors retreated from the U.S. stock market by unloading nearly $11.8 billion from mutual funds and exchange traded funds that hold domestic equities last week, as concerns about the strength of...

Exxon names BAML to run Malaysia asset sales: sources

PersonalFinance

Wed, 09 Oct 2019 13:34:01 -0400

Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources...

Consulting firm Sionic hires Monahan to run asset servicing unit

PersonalFinance

Tue, 08 Oct 2019 11:13:32 -0400

NEW YORK (Reuters)<?xml version="1.0" encoding="utf-16"?> - Sionic has hired James Monahan from Morgan Stanley to run the consulting firm's new global asset servicing team, according to a...

Swiss banks see growth shifting to EU if no treaty is struck

PersonalFinance

Tue, 08 Oct 2019 11:11:43 -0400

Swiss banks will have to shift more operations to the European Union if Switzerland fails to secure a treaty with the trading bloc, Geneva private bankers said on Tuesday.

Asset manager Schroders appoints Marc Brookman as CEO of North America division

PersonalFinance

Tue, 08 Oct 2019 11:09:42 -0400

British asset manager Schroders Plc on Tuesday appointed Marc Brookman as chief executive officer of its North America division.

Germany's Aareal conducts strategic review following calls from investor

PersonalFinance

Mon, 07 Oct 2019 12:04:55 -0400

German real estate lender Aareal said on Monday it had embarked on a strategic review following calls from an activist investor to consider the sale of its software unit Aareon.

Schroders, Lloyds wealth venture appoints former IG Group boss as CEO

PersonalFinance

Mon, 07 Oct 2019 10:25:00 -0400

Schroders Personal Wealth (SPW), a joint venture between Schroders and Lloyds Banking Group, said on Monday it has appointed former IG Group executive Peter Hetherington as chief executive officer.

KKR seeks $1.5 billion for third special situations fund: sources

PersonalFinance

Fri, 04 Oct 2019 17:11:40 -0400

U.S. private equity firm KKR & Co Inc is seeking to raise $1.5 billion for its third special situations fund, people familiar with the matter said on Friday.