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Reuters: Money
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Reuters: Money
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Wells Fargo pays $65 million to settle 'cross-sell' fraud claims with New York
Wells Fargo & Co will pay $65 million to settle claims that it misled investors about its "cross-selling" business strategy, the New York Attorney General's office said on Monday.
REUTERS
Barington pushes for independent chair at Bloomin' Brands
Activist investor Barington Capital Group L.P. on Monday turned up the heat on Outback Steakhouse owner Bloomin' Brands Inc's board by urging it to hire an independent chair to push management to...
REUTERS
Freudenberg picks JP Morgan, Morgan Stanley for Vibracoustic IPO: sources
German technology group Freudenberg picked JP Morgan and Morgan Stanley to act as so-called global coordinators for a planned 2019 stock market flotation of its Vibracoustic unit, people close to...
REUTERS
Danske Bank was behind large share of Estonian cross-border payments in 2008-2015: central bank
Danske Bank, which is involved in a 200 billion euro ($230 billion) money laundering scandal in Estonia, processed a large share of the country's cross-border payments between 2008 and 2015, its...
REUTERS
Global banks curb China travel after UBS banker stopped from leaving
Global banks including Citigroup and Standard Chartered have asked their private banking staff to postpone or reconsider travel to China after authorities there prevented a UBS banker from leaving the country, sources said.
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REUTERS
Speculators trim U.S. 10-year T-note net shorts: CFTC
Speculators' net bearish bets on U.S. 10-year Treasury note futures fell a tad earlier this week before Federal Reserve's release of minutes from its policy meeting last month, according to Commodity...
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REUTERS
China to allow bank wealth-management funds to be invested in stocks
China's banking regulator said on Friday it plans to start letting funds from products publicly sold by banks' wealth management subsidiaries be directly invested in shares.
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REUTERS
Bank Vontobel buys Lombard Odier business in North America
Bank Vontobel on Friday said it was acquiring the international portfolio for US-based clients from Lombard Odier for an undisclosed price.
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REUTERS
U.S. fund investors pull most cash since June from stocks: Lipper
Investors slammed U.S.-based stock funds during the latest week, pulling $17.5 billion, the most cash from such investments since June, according to Lipper data on Thursday.
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Column: U.S. probe shines light on Medicare Advantage claims denials
A growing number of U.S. seniors are choosing Medicare Advantage, the popular private insurance alternative to traditional coverage. But a new report by federal investigators finds that Advantage...
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REUTERS
UPDATE 2-U.S. Senator Warren urges Fed to require removal of Wells Fargo CEO
U.S. Senator Elizabeth Warren said on Thursday the Federal Reserve should not allow Wells Fargo & Co to grow in size until the bank replaces Chief Executive Officer Tim Sloan.
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REUTERS
Column: Loans could drain U.S. retirement plans by $2.5 trillion
Americans could dig a $2.5 trillion hole in the country's retirement system as they fail to pay back loans taken from workplace retirement plans over the next 10 years, according to a new study from...
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REUTERS
Middle class parents paying least for college: study
As U.S. high school seniors pare down their college wish lists and parents sweat over the bills, a new study by student loan lender Sallie Mae illustrates the gulf between the sticker price of...
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REUTERS
Rising rates knock U.S. mortgage activity to lowest since 2014: MBA
U.S. consumers filed the fewest requests for a mortgage since late 2014 last week as most home borrowing costs reached their highest levels in more than seven years, the Mortgage Bankers Association...
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REUTERS
Insurers call for delay in prising open 'black box' accounts
Insurers from across the world have called for amendments and a two-year delay to a change in accounting rules aimed at increasing visibility of how they earn their money.
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REUTERS
Shades of 2014 lurking in CBOT soybean market: Braun
When the Chicago Board of Trade closed for business on Monday, November soybean futures ended up 24 cents on the day, and nearly 80 cents off the contract’s all-time low from a month earlier.
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REUTERS
China Treasury holdings in August fall to lowest since June 2017: Treasury data
China's holdings of U.S. Treasuries fell for a third straight month in August to their lowest in more than a year, Treasury Department data showed on Tuesday, in what was likely a move to support its...
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REUTERS
Martin Currie appoints portfolio manager for global emerging markets
Legg Mason Inc affiliate Martin Currie said on Tuesday Colin Dishington would join its global emerging markets team as portfolio manager.
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YOUR MONEY - Comic heroes teach kids about finance
As any parent knows, getting children to focus can be challenging - even more so when it involves topics like monetary systems.
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PIMCO taps Erin Browne as managing director and portfolio manager
PIMCO, one of the world's largest fixed-income managers, on Monday named Erin Browne, previously of UBS Asset Management and Steve Cohen's Point72 Asset Management, as managing director and portfolio...
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REUTERS
Gray divorces and tax changes complicate retirement
When people over the age of 50 get divorced, retirement accounts become a key asset, even more so sometimes than the house or alimony. Lawyers and feuding couples are bracing for big changes at the...
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UPDATE 1-Englander's Millennium hires portfolio manager from Citadel -sources
Millennium Management, the $36 billion hedge fund run by Israel Englander, has hired a portfolio manager from rival Ken Griffin's Citadel, two people familiar with the situation said on Friday.
REUTERS
Speculators lift net long U.S. dollar bets to highest since mid-Dec 2016: CFTC, Reuters
Speculators' net long bets on the U.S. dollar climbed to their highest since mid-December 2016 in the latest week, according to calculations by Reuters and the Commodity Futures Trading Commission...
REUTERS
GRAPHIC-U.S. banks enjoy benefits of a growing economy, lower taxes
The U.S. banking industry is enjoying the benefits of a growing economy and lower taxes, if the double-digit profit growth posted by three major lenders on Friday is any indication.
REUTERS
PNC expects small rise in quarterly loan growth, shares fall
U.S. regional bank PNC Financial Services Group Inc on Friday reported disappointing quarterly loan growth and said it expected only a small improvement in lending for the final three months of the...
REUTERS
Your Money: What is the best play for your money right now?
When the stock market has suffered a couple of really big slides in a row, like it did this week, the financial advice to those who are freaking out is always: Do not look at your account balances....
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Citigroup profit beats on higher bond trading, lower costs
Citigroup Inc reported a better-than-expected quarterly profit on Friday, helped by lower expenses, higher bond trading revenue and strength in its consumer banking business in Mexico.
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RPT-EXPLAINER-What are risk-parity funds?
The market's quick and hard-to-explain declines this week led some investors to point fingers at number-crunching fund strategies designed to control and balance risk.
REUTERS
Rising interest rates cast shadow on Chicago pension bond plan
A continued surge in interest rates could sink a plan under consideration by Chicago Mayor Rahm Emanuel's administration for a massive bond sale to boost pension funding, a city official said on...
REUTERS
Machines take the blame as U.S. stock market sells off
Investors searching for perpetrators and victims in this week's U.S. stock market selloff pointed to a familiar source: number-crunching fund managers and machines.
REUTERS
U.S. retirees to get welcome bump in Social Security benefits
Come January, most U.S. retirees will get some welcome news when they check their bank accounts - the biggest inflation adjustment to Social Security benefits in eight years.
REUTERS
Column: 'Restricted application' can boost Social Security benefits
Waiting until age 70 to claim Social Security benefits is one of the most popular financial strategies for retirement, but it can put couples that retire in their 60s in a bind if they then must wait...
REUTERS
Deutsche Bank Wealth Management names two managing directors
Asset management company Deutsche Bank Wealth Management named Wendy McMillan and Richard Aguiar as managing director and private banker. McMillan and Aguiar will be based in San Francisco and Los...
REUTERS
Smith & Williamson Holdings, Deutsche Bank Wealth Management
The following financial services industry appointments were announced on Wednesday. To inform us of other job changes, email moves@thomsonreuters.com.
REUTERS
Ackman reveals $900 million bet on Starbucks
Bill Ackman said on Tuesday his hedge fund Pershing Square Capital Management has taken a roughly $900 million position in Starbucks as he sees a chance for the world’s biggest coffee chain to reignite growth even as it struggles with stagnant sales in its home market.
REUTERS
Australia's CBA hit with lawsuit over pension investments
Law firm Slater & Gordon Ltd has filed a class-action suit against Commonwealth Bank of Australia seeking damages of more than A$100 million ($71 million) after the bank allegedly invested the...
REUTERS
Wall Street dealers absorb rising U.S. Treasury supply
Wall Street's bond firms are sopping up a growing amount of Treasury debt as the U.S. government seeks to fund a rising budget deficit stemming from the massive tax cut enacted last December,...
REUTERS
Your Money: When strangers spill their financial secrets
One recent Monday night in New York City, seven strangers sat around a dinner table sharing the biggest money secrets of their lives.
REUTERS
Canada's CDPQ, Al Gore's Generation buy majority stake in fintech firm FNZ
Canada's second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion...
REUTERS
Australia's CBA to refund fees to dead client accounts in inquiry fallout
Commonwealth Bank of Australia said on Tuesday it will refund fees taken out of dead client accounts and unwind a controversial system of charging customers commissions on financial products.
REUTERS
Column: Unfazed by record short U.S. bonds position, hedge funds gun for 3.50 percent - McGeever
Hedge funds may have trimmed their record bet against U.S. Treasuries, as the latest data show, but the 10-year yield's spike to fresh multi-year highs in the days since suggests that short position...
REUTERS
Commonwealth Bank of Australia, hit by inquiry, to reform wealth business
Commonwealth Bank of Australia on Tuesday announced moves to improve its wealth management business, which has come under fire from a high-profile inquiry on the financial sector that revealed...
REUTERS
Column: How to create a healthcare safety net for retirement
(This version of the October 3 column was refiled to correct "Has" to "HSA" in paragraph 5)
REUTERS
Jason Karp to shut hedge fund Tourbillon, focus on health and wellness
Hedge fund Tourbillon Capital Partners is shutting down after several years of poor returns, making it the third well-known fund to announce plans to close its doors within a week.
REUTERS
Schroders targets British wealth boost with Lloyds tie-up
Schroders could soon help manage the money of people with significantly less in their bank accounts than the super-rich it has targeted so far, if talks with Lloyds about a wealth management tie-up...
REUTERS
Britain's Schroders gains on potential Lloyds wealth deal
A wealth management tie-up between Schroders and Lloyds would give the asset manager access to the distribution network of Britain's biggest bank, which would gain investment skills and greater...
REUTERS
Emerging market stocks' descent to 17 month lows entices U.S. investors
The steep decline in emerging market stocks since early this year are attracting some U.S. fund managers who think they may find long-term bargains amid the sell-off.
REUTERS