Business & Economics :: Finance

Hedge-fund billionaire Klarman says Puerto Rico should pay its debts

cnbc.com

Hedge-fund billionaire Klarman says Puerto Rico should pay its debts


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Why buying 20 boxes of pasta can be a smart financial strategy

bostonglobe.com

Why buying 20 boxes of pasta can be a smart financial strategy


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World shares rise as investors await Japan vote, Fed pick

siouxcityjournal.com

World shares rise as investors await Japan vote, Fed pick


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Bank of England's 'unreliable boyfriend' needs to get message right

reuters.com

Bank of England's 'unreliable boyfriend' needs to get message right


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The Madison area joins the contest for Amazon's HQ2

madison.com

The Madison area joins the contest for Amazon's HQ2


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Boeing is buying into autonomous flight with another new investment

cnbc.com

Boeing is buying into autonomous flight with another new investment


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Waterloo man arrested in bank transfer fraud

wcfcourier.com

Waterloo man arrested in bank transfer fraud


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Two men sentenced to prison for investment scheme
Inofin executives bilked investors out of more than $50 million. . Two men sentenced to prison for investment scheme Inofin executives bilked investors out of more than $50 million WEBVTT GARY ANDERSEN HAS THE LATESTFROM FEDERAL COURT.>> THE JUDGE HAS THEINTERSECTION OF THIS CRIME ISN'TLOSING MONEY AND HOMES, BUTTHEIR SENSE OF TRUST.AFTER RING SENTENCED TO 3.5YEARS IN PRISON, MICHAEL CUOMOSENTENCED TO FOUR YEARS BEHINDBARS   Read More ...
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BRIEF-Timbercreek Investment Management announces proposed merger
Oct 20 (Reuters) - Timbercreek Global Real Estate Fund * Timbercreek Investment Management - intention to merge Timbercreek Global Real Estate Fund into Timbercreek Global Real Estate Income Fund Source text for Eikon: Further company coverage: Our Standards:   Read More ...
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NG Advantage appoints new chief financial officer
Before teaming up with NG Advantage in their Vermont headquarters, Hill most recently worked as the CFO of Woolrich, a $70-million-dollar classic wool outdoor clothing brand based in Pennsylvania. At Woolrich, he negotiated a new bank facility, was a prominent leader in strategic planning and annual budgeting, and worked through multiple lending arrangements. Hill earned his Bachelor of Science in Business Administration and Finance at Miami University in Ohio, and is a certified Chartered Financial Analyst   Read More ...
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Places: Americas |  North America |  United States |  Northeast |  New England |  Vermont | 
VFCU announces Robinson selected for Filene I3 Program
Jean Giard, President and CEO of Vermont Federal Credit Union, is pleased to announce that Doug Robinson has been selected to Filene Research Institutes Program. Out of hundreds who applied, sixteen employees from credit unions nationwide were selected for the prestigious i Program. Robinson shared that the application process was “rather rigorous” and included a personal essay, references, a personality test and a tryout period   Read More ...
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SoftBank says it could invest as much as $880 billion(!) in tech
SoftBank could commit as much as $880 billion to tech investments in the coming years, a gargantuan, unprecedented amount of cash that would amount to a seismic shift in tech-sector finance. "The Vision Fund was just the first step, 10 trillion yen ($88 billion) is simply not enough," CEO Masayoshi Son said in an interview with The Nikkei Asian Review that was published late Thursday   Read More ...
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Investors push into a resurging market: House flipping
House flipping, which declined after the financial crisis in 2008, is on the rise again, thanks to low interest rates and rising home prices. And with the renewed interest comes investors looking for a high return. But the real estate strategy — in which a home is bought, renovated and resold quickly — requires fast access to money, and developers are willing to pay higher interest rates for it   Read More ...
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Lyft, Exploring I.P.O., Raises $1 Billion Led by Google's Parent
In an escalation of its ride-hailing war against Uber, Lyft has begun to explore going public in 2018 and is trying to strengthen its position by raising more capital, including $1 billion in new financing led by an investment arm of Google's parent company. Lyft has had talks with investment banks about an initial public offering next year, according to two people briefed on the discussions, who asked to remain anonymous because the conversations are confidential   Read More ...
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This is the most bullish note on the stock market we've seen in a long time from a hedge fund manager
Third Point's Dan Loeb, who nearly doubled the return over the last two decades and manages $18 billion, just put out the most bullish note on the stock market we've seen in a long time from a top hedge fund manager. Loeb noted that economic growth is improving due to the weak U.S. dollar and looser-than-expected monetary policy from the Federal Reserve   Read More ...
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There’s something in the charts that’s making me nervous about tech: Trader
As the Dow climbs to all-time highs, one indicator shows it is seeing one of its most overbought conditions since 1900. Apple shares have fallen more than 5 percent from its recent high, but one technician says investors shouldn't worry. Investors may be wise to pump the brakes on the Nasdaq as we head into big tech earnings, according to one technician   Read More ...
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Here’s how bond markets could react to the ECB next week
European Central Bank President Mario Draghi will return to the spotlight next Thursday with the focus firmly on how he plans to trim the bank's asset purchase policy. So far, the ECB has said its purchases are intended to run at their current pace of 60 billion euros ($70.1 billion) per month until December 2017 "or beyond, if necessary," and that there would be a winding-down phase after that   Read More ...
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UK denies that it’s increased its cash offer to leave the EU
Prime Minister Theresa May denied reports Friday morning that the U.K. had increased its financial offer to the European Union as part of its steps to leave the bloc. "What I've made clear to my EU counterparts in relation to financial contribution is what I set out in my Florence speech, which is that I've said nobody need be concerned for the current budget plan that they would have to pay more or receive less as a result of the U   Read More ...
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Hedge-fund billionaire Klarman says Puerto Rico should pay its debts
Seth Klarman, the value investing giant who draws comparisons to Warren Buffett, is telling his clients it is in Puerto Rico's interest to pay its debt. Klarman's hedge fund, Baupost, owned $911 million of the island's bonds through Decagon Holdings entities, according to a July public court filing. The bonds were issued by the Puerto Rico Sales Tax Financing Corp., which goes by the acronym COFINA   Read More ...
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Places: Americas |  North America |  United States |  Caribbean |  Puerto Rico | 
Wells Fargo Execs, Currency Trader Out In Possible Fallout From Consumer Investigations
NEW YORK (CBSLA/AP) — Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
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Trump considers Fed's Powell, economist Taylor to lead central bank
WASHINGTON (Reuters) - President Donald Trump is considering nominating Federal Reserve Governor Jerome Powell and Stanford University economist John Taylor for the central bank’s top two jobs, in an apparent bid to reassure markets and appease conservatives hungry for change. Under that scenario, either Powell or Taylor would take the reins from Fed Chair Janet Yellen early next year, with the other filling the vice chair position left vacant when Stanley Fischer retired this month   Read More ...
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BRIEF-Voya Financial says AUM of co's investment management​ segment was $222 bln as of Sept 30
Oct 20 (Reuters) - Voya Financial Inc: * Voya Financial Inc says as of September 30, 2017, AUM of company's investment management segment was $222 billion - sec filing Source text - Further company coverage: Our Standards:   Read More ...
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BRIEF-Fairfax Financial Holdings files final short form base shelf prospectus with Canadian regulators​
Oct 20 (Reuters) - Fairfax Financial Holdings Ltd * Fairfax Financial Holdings Ltd - has filed a final short form base shelf prospectus with Canadian securities regulatory authorities * Fairfax Financial Holdings - shelf prospectus allows co to offer over a 25-month period up to CDN$8.0 billion of debt, equity or other securities Source text for Eikon: Further company coverage:   Read More ...
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BRIEF-Cormorant Asset Management reports 5.02 pct passive stake in Anaptysbio as of Oct. 19 ‍​
Oct 20 (Reuters) - Cormorant Asset Management LLC: * Cormorant Asset Management, LLC reports 5.02 percent passive stake in Anaptysbio Inc as of October 19 - SEC filing Source text () Further company coverage: Our Standards:   Read More ...
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Tisdel, who led fierce banking fight, passes away
Prominent Portland bank executive Donald Lawson Tisdel, who led a headline-making legal battle against federal banking regulators, died Sept. 9 after suffering a stroke. He was 83. Tisdel was one of the dominant bankers in Portland for much of the 1970s and '80s. He led Oregon Bank when it was a strong No. 3 behind market leaders U.S. Bancorp and First Interstate   Read More ...
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Wells Fargo: 4 currency executives no longer work at bank
NEW YORK (AP) — Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
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Places: Americas |  North America |  United States | 
Gains by banks, technology firms lead US stocks higher
Technology companies and banks led U.S. stocks higher in late-afternoon trading Friday, placing the market on course to extend its gains for the week. Investors cheered a crop of strong company earnings. They also drew encouragement from the Senate's passage of a budget bill, a move expected to ease the path for the White House's tax cut proposal. Consumer products companies lagged the most   Read More ...
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Places: Americas |  North America |  United States | 
Wells Fargo names regional bank president for central and eastern Virginia
A reorganization at Wells Fargo & Co. earlier this year led to leadership shake-up at the San Francisco-based bank, resulting in changes in Virginia and elsewhere. “With her more than 30 years of banking and finance experience, she will serve the company well in her new role," said Rick Redden, president of Well Fargo’s Community Bank division for Virginia, North Carolina, Maryland and Washington D   Read More ...
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Places: Americas |  North America |  United States |  Virginia | 
Wells Fargo: 4 currency executives no longer work at bank
NEW YORK (AP) - Three high-level foreign exchange executives and a currency trader have left Wells Fargo, the bank that has been through several investigations after a scandal over millions of fake accounts and another over auto insurance practices. Wells Fargo confirmed Friday that the employees from the investment bank side of the business were no longer with the firm but would not say if they were fired   Read More ...
Categories: Business | 
Places: Americas |  North America |  United States |  West |  Pacific |  California | 
BRIEF-Fair secures offers for nearly $1 bln capital from investment banks, Sherpa Capital-led entity‍​‍​
* Secures offers for nearly $1 billion in capital from investment banks, and Sherpa capital-led entity * Closing strategic funding round led by BMW i ventures that includes investments from Penske Automotive Group and other strategic investors Source text for Eikon: Our Standards:   Read More ...
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BRIEF-Empery Asset Management reports 5.63 pct passive stake in Tandem Diabetes Care
Oct 20 (Reuters) - Empery Asset Management Lp: * Empery Asset Management Lp reports 5.63 pct passive stake in Tandem Diabetes Care Inc as of Oct 13 - SEC filing Source text: () Further company coverage: Our Standards:   Read More ...
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Tags: Finance |  Investments |  Asset Management | 
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Activist investor RBR wants to build $1 bln stake in Credit Suisse
* Investor RBR wants to split Credit Suisse into 3 parts * RBR CEO says trying to raise at least $1 bln to buy more shares * Fund also wants Credit Suisse to build new IT platform * RBR CEO speaking at a conference in New York By Joshua Franklin and Oliver Hirt RBR has so far invested almost half its 250 million francs in assets to buy roughly 0   Read More ...
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Gains by banks, technology firms lead US stocks higher
U.S. stocks notched modest gains in afternoon trading Friday as investors cheered a crop of strong company earnings. Technology companies posted some of the biggest gains. Banks and bond yields jumped after the Senate passed a budget bill that eases the path toward passing tax cuts sought by the Trump administration. Consumer products companies lagged the most. KEEPING SCORE: The Standard & Poor's 500 index rose 10 points, or 0   Read More ...
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BRIEF-Wells Fargo has fired 4 foreign-exchange bankers amid an investigation- WSJ‍​
* Wells Fargo & Co has fired 4 foreign-exchange bankers amid an investigation into that business by both bank and regulators- WSJ, citing sources Source text: on.wsj.com/2yvqDpN Further company coverage:   Read More ...
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Wells Fargo fires forex bankers, investigates unit: WSJ
(Reuters) - Wells Fargo & Co (), the third-largest U.S. bank by assets, has fired four foreign-exchange bankers amid an investigation into that business by both the bank and regulators, the Wall Street Journal reported, citing people familiar with the matter and the bank. The foreign-exchange investigation now shows there is also trouble in Wells Fargo's investment-banking arm, the WSJ reported   Read More ...
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Wells Fargo faulted by U.S. regulator for auto insurance abuses -NYT
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Tags: Banks & Banking |  Insurance | 
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Axon Enterprise shares tumble as regulators scrutinize company's financial reports
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Tags: Enterprises |  Finance | 
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BRIEF-Bank of the James reports Q3 EPS $0.23
Oct 20 (Reuters) - Bank of the James: * Bank of the James announces third quarter, nine months 2017 financial results and declaration of dividend * Says Q3 earnings per share $0.23 * Says net interest income increased to $5.28 million for three months ended September 30, 2017 from $4.87 million Source text for Eikon: Further company coverage: Our Standards:   Read More ...
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Europe's easy money taps to be tightened — very slowly
FRANKFURT, Germany (AP) — The economy of the 19 countries that use the euro currency is growing ever stronger, and it's time for the European Central Bank to start telling the public how it will phase out its extraordinary stimulus measures. But rest assured: The era of easy money isn't ending just yet in Europe, say analysts. The bank will ease off its month bond-buying stimulus slowly — and interest rates likely won't be raised for nearly another two years   Read More ...
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Places: United States |  Europe |  Hesse |  Frankfurt | 
PLCB hires advisers for Wolf's $1.25 billion borrowing proposal
The Pennsylvania Liquor Control Board on Friday voted to hire financial and legal advisers to help pursue Gov. Wolf’s proposal to borrow $1.25 billion against future profits of the state’s alcoholic beverage control arm. PFM Financial was hired to provide financial advice. The law firm is Eckert Seamens. Each have a $300,000 cap on their contracts. The vote was 2-1, with board member Mike Negra voting against the proposal, though he said he would work with the board’s two other members on the plan   Read More ...
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Tags: Finance | 
Places: Americas |  North America |  United States |  Northeast |  Atlantic |  Pennsylvania | 
Saudi Aramco seeks local, foreign investors for construction arm
KHOBAR, Saudi Arabia, Oct 20 (Reuters) - National oil firm Saudi Aramco plans to set up a construction company with local and international partners to build non-oil infrastructure in Saudi Arabia, industry sources familiar with the plan said. Saudi and foreign companies have expressed interest in the project, and will form consortiums which apply to take part at a later date, one of the sources said   Read More ...
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Tags: Finance |  Investments |  Investors |  Foreign investors | 
Places: United States |  Asia |  Mideast |  Saudi Arabia | 
Tech, bank stocks lift Wall Street; tax-cut plan back in focus
(Reuters) - Technology and bank stocks lifted Wall Street on Friday and investor optimism received a fresh boost from Washington, where the Trump administration inched a step closer to implementing tax-cut plan. Bank of America () jumped 1.8 percent and Goldman Sachs () rose 1 percent, trailing a rise in U.S. Treasury yields and Apple’s () 0.8 percent gain led the recovery in technology stocks   Read More ...
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Places: North America |  United States | 
US STOCKS-Tech, bank stocks lift Wall St; tax-cut plan back in focus
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Tags: Taxes |  Banks & Banking | 
Places: North America |  United States |  United Kingdom | 
Investors Push Into a Resurging Market: House Flipping
Photo House flipping, which declined after the financial crisis in 2008, is on the rise again, thanks to low interest rates and rising home prices. And with the renewed interest comes investors looking for a high return. But the real estate strategy — in which a home is bought, renovated and resold quickly — requires fast access to money, and developers are willing to pay higher interest rates for it   Read More ...
Categories: Business | 
Tags: Markets |  Finance |  Investments |  Investors | 
Places: Americas |  North America |  United States | 
Billionaire Bill Gates announces a $1.7 billion investment in U.S. schools
Microsoft co-founder Bill Gates announced Thursday that his foundation will invest more than $1.7 billion in public education, money that will go to support schools interested in developing and testing new approaches to teaching. “Every student should get a great public education and graduate with skills to succeed in the marketplace,” said Gates, who delivered the keynote address before about 1,000 school officials at the Council of the Great City Schools conference in Cleveland   Read More ...
Categories: Business |  Education | 
Places: Americas |  North America |  United States | 
BRIEF-First Financial declares special dividend of $1.50/share
Oct 20 (Reuters) - First Financial Corp: * First Financial Corporation declares special dividend * First Financial - co’s directors declared special dividend of $1.50/share payable on Dec 1 to shareholders of record at close of business Nov 17, 2017 Source text for Eikon: Further company coverage: Our Standards:   Read More ...
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Tags: Finance | 
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ECB under pressure to soften crackdown on bad loans: sources
The ECB’s Single Supervisory Mechanism is due to come up with a new set of rules by March for how much money banks should set aside against their stock of bad loans, a thorny issue in Italy, where lenders are sitting on more than a quarter of the euro zone’s 865 billion euros ($1.0 trillion) unpaid loans. But the sources said the strong Italian backlash against the SSM’s latest proposals on how lenders should deal with new bad loans meant supervisors were having to reassess their approach to tackling already soured debts   Read More ...
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