Money

'Dr. Doom', Marc Faber, removed from more boards after comments on race

11 hours ago DieselGasoil Comments Off on 'Dr. Doom', Marc Faber, removed from more boards after comments on race
NEW YORK (Reuters) – Marc Faber, the markets prognosticator known as “Dr. Doom,” has been dismissed from three more company boards after comments in his latest newsletter this week suggested the United States had only prospered because it was settled by white people. FILE PHOTO: Dr. Marc Faber, publisher of investment newsletter “The Gloom Boom Read More

Nestle CEO praised by Third Point but hedge fund still wants more

12 hours ago DieselGasoil Comments Off on Nestle CEO praised by Third Point but hedge fund still wants more
LONDON/BOSTON (Reuters) – Nine months into leading the world’s biggest packaged food company, Nestle SA (NESN.S) Chief Executive Mark Schneider got a tentative thumbs-up from a prominent investor, who praised his early steps on Friday but said there was more work to be done. FILE PHOTO: Nestle CEO Ulf Mark Schneider speaks during the Nestle Read More

Third Point takes stake in Dover Corp, urges changes: letter

18 hours ago DieselGasoil Comments Off on Third Point takes stake in Dover Corp, urges changes: letter
BOSTON (Reuters) – Billionaire investor Daniel Loeb’s hedge fund Third Point LLC bought a stake in Dover Corp during the third quarter and is urging the industrial conglomerate to sell off its energy business among other things. If the company heeds the hedge fund’s advice, “we believe there is significant additional upside in the investment,” Read More

Column: With U.S. elder abuse in spotlight, a look at guardians

22 hours ago DieselGasoil Comments Off on Column: With U.S. elder abuse in spotlight, a look at guardians
CHICAGO (Reuters) – Are unsuspecting seniors around the United States being scooped up without warning from their homes, placed in nursing homes and having their possessions taken away? Sometimes, yes – according to a recent article in the New Yorker magazine. The investigation by journalist Rachel Aviv shines a light on problems in the Nevada courts Read More

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

1 day ago DieselGasoil Comments Off on Ackman urges ADP to consider acquiring Ceridian amid proxy fight
BOSTON (Reuters) – Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc (ADP.O), on Thursday said the human resource software company should buy rival Ceridian, in a move that could woo customers with a better product. Ackman said Minnesota-based Ceridian could be acquired for roughly $4 billion, adding, “This may Read More

E*Trade to buy custody firm in growth push as profits remain dull

1 day ago DieselGasoil Comments Off on E*Trade to buy custody firm in growth push as profits remain dull
NEW YORK (Reuters) – E*Trade Financial Corp (ETFC.O) plans to spend $275 million to acquire a firm that provides custody services and technical support to financial advisers, the discount brokerage firm said on Thursday. Its agreement to buy privately held Trust Company of America (TCA) came as E*Trade reported disappointing third-quarter results. On a conference Read More

U.S. fund investors regain risk appetite as Dow breaches 23,000

1 day ago DieselGasoil Comments Off on U.S. fund investors regain risk appetite as Dow breaches 23,000
NEW YORK (Reuters) – U.S. fund Investors regained an appetite for risk over the last week, rushing into U.S. and emerging-market stocks, according to data on Thursday from Lipper. Stock mutual funds and exchange-traded funds (ETFs) overall attracted $5.4 billion in the week ended Oct. 18, while emerging markets pulled in $2.3 billion, the most Read More

U.S. fund investors regain their risk appetite

1 day ago DieselGasoil Comments Off on U.S. fund investors regain their risk appetite
NEW YORK (Reuters) – U.S. fund Investors regained an appetite for risk in the most recent week, rushing into U.S. and emerging-market stocks, according to data on Thursday from Lipper. Stock funds overall attracted $5.4 billion, while emerging markets pulled in $2.3 billion, the most cash since March, according to the research service. Reporting by Read More

Fidelity retirement funds warm to Canada, cool to emerging markets

1 day ago DieselGasoil Comments Off on Fidelity retirement funds warm to Canada, cool to emerging markets
BOSTON (Reuters) – Fidelity Investments has cut exposure to red-hot emerging markets stocks in its age-based retirement funds while putting more money into Canadian stocks and U.S. government bonds. The shift, reflected in a Morningstar Inc report released on Thursday, shows how the $200 billion-plus Fidelity Freedom Funds franchise is taking a slightly more defensive Read More

LPC: JDA, Surgery Partners add flexibility for future without Libor

2 days ago DieselGasoil Comments Off on LPC: JDA, Surgery Partners add flexibility for future without Libor
NEW YORK (Reuters) – Companies are preparing for a future without a crucial lending benchmark, adding language to their leveraged loan documents that allow them to choose an alternative rate, sometimes without input from lenders. JDA Software, Surgery Partners and LPL Financial are among companies that have recently added such language. Some of these new Read More