Reuters - Money

Click to View in Browser

Wednesday, May 31, 2017

BlackRock expects windfall from insurers after new ETF regulations

NEW YORK (Reuters) - BlackRock Inc expects $300 billion in new money from insurers to flood into the already booming bond exchange-traded fund sector over the next five years, a spokeswoman said on Tuesday, following a move by regulators to adjust some requirements on how the investments are valued.

Wells Fargo makes more personnel changes in retail banking unit

(Reuters) - Wells Fargo & Co has made more executive changes in its retail banking unit as it tries to recover from a sales scandal that harmed its once-enviable reputation.

Your Money: Strategies to cope with permanent debt

NEW YORK (Reuters) - Most people think of debt as a temporary condition: Something you accumulate early in life, chip away at during prime earnings years, and say good riddance to well before retirement.

Investment funds urge shareholders to vote down Mylan board, pay

NEW YORK (Reuters) - The New York City and State pension funds and the California State Teachers' Retirement System are fighting the re-election of six board members at drugmaker Mylan Inc and its 2016 executive pay including Chairman Robert Coury's compensation of more than $97 million.

Bank customers overwhelmingly reject robo-advisers: survey

LONDON (Reuters) - The vast majority of bank customers in Europe would not let a computer program make and act upon financial decisions on their behalf, a survey showed on Wednesday, in a sign of caution over the rising so-called robo-advice industry.

U.S. insurer FM Global approved for EU hub amid Brexit concerns

(Reuters) - U.S. commercial property insurer FM Global has approved to run a European hub in Luxembourg, a move allowing it to issue policies in the European Union and other countries following Britain's decision to leave the bloc, the company said on Tuesday.

Ex-N.Y. brokerage executive pleads guilty to pension bribe scheme

NEW YORK (Reuters) - A former managing director at broker-dealer Sterne Agee pleaded guilty on Tuesday to bribing a former portfolio manager at New York state's retirement fund in exchange for tens of millions of dollars' worth of business, federal prosecutors said.

Funds to cut fixed income research as EU rules shake up sector

LONDON (Reuters) - New rules on pricing investment research are shaking up the European fixed income, currency and commodity (FICC) industry, with many funds planning to scale back or ditch a service that banks use to drum up business.

Israel's Netafim draws interest from private equity, Chinese bidders

FRANKFURT/LONDON (Reuters) - International buyout groups and Chinese investment funds are expected to submit bids for Israeli irrigation firm Netafim, which could fetch around $1.5 billion, within the next few weeks, two banking sources said on Friday.

Traders trim view on U.S. rate hikes after Fed minutes

NEW YORK (Reuters) - U.S. interest rate futures ended higher on Wednesday as traders scaled back bets on two more rate increases by the end of 2017 following the Federal Reserve's release of its May 2-3 policy meeting minutes.