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Aviva, NatWest to join 'Brexodus' of business to EU

2 days ago DieselGasoil Comments Off on Aviva, NatWest to join 'Brexodus' of business to EU
LONDON (Reuters) – England’s High Court on Tuesday gave Aviva, Britain’s second largest insurer, approval to transfer around 9 billion pounds ($11.69 billion) in assets to a new Irish company just before the starting gun is fired on Brexit. FILE PHOTO: A man walks past an AVIVA logo outside the company’s head office in the Read More

A career secret weapon: Thank-you notes

2 days ago DieselGasoil Comments Off on A career secret weapon: Thank-you notes
NEW YORK (Reuters) – In a world of extremely rapid change, we have seen plenty of things vanish, from rotary phones to electric typewriters to 8-track music cartridges. FILE PHOTO: A coil of USA First Class postage stamps, bearing an image of the Statue of Liberty and U.S. flags, is shown in Washington, April 15, Read More

Jeff Vinik offers fee cuts to help bring in cash for new fund

7 days ago DieselGasoil Comments Off on Jeff Vinik offers fee cuts to help bring in cash for new fund
NEW YORK (Reuters) – Prominent U.S. investor Jeffrey Vinik is promising potential clients a cut in fees and said that it had been tougher to raise money than he initially thought, as he prepares to relaunch Vinik Asset Management after six years on the sidelines. Vinik, who once ran Fidelity’s Magellan mutual fund and then Read More

U.S. fund investors charge into money market funds: Lipper

7 days ago DieselGasoil Comments Off on U.S. fund investors charge into money market funds: Lipper
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., February 13, 2019. REUTERS/Brendan McDermid NEW YORK (Reuters) – U.S. fund investors added another $18.7 billion to money market funds during the latest week, likely putting the low-risk funds on track for a third straight quarter of positive demand, Read More

Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle

7 days ago DieselGasoil Comments Off on Berkshire trims Apple stake, adds Suncor and Red Hat, exits Oracle
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc said it trimmed its stake in iPhone maker Apple Inc, its largest stock investment, and added positions in Canada’s Suncor Energy Inc and software company Red Hat Inc. FILE PHOTO: The logo of Apple is seen at a store in Zurich, Switzerland January 3, 2019. REUTERS/Arnd Wiegmann Berkshire Read More

Charlie Munger targets active managers, Elon Musk; praises China

1 week ago DieselGasoil Comments Off on Charlie Munger targets active managers, Elon Musk; praises China
(Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Thursday criticized active fund managers, bankers and even Elon Musk as he urged investors to court simplicity and temper expectations for future returns. FILE PHOTO: Charlie Munger, vice chairman of Berkshire Hathaway Inc arrives at the company’s annual meeting Read More

Big hedge funds dumped China stocks, Apple as market tumbled

1 week ago DieselGasoil Comments Off on Big hedge funds dumped China stocks, Apple as market tumbled
NEW YORK (Reuters) – Prominent hedge fund managers sold out of Chinese technology stocks and dumped Silicon Valley giants like Apple Inc and Facebook Inc while global stock markets cratered during the fourth quarter, according to securities filings released on Thursday. FILE PHOTO: An investor watches a board showing stock information at a brokerage office Read More

U.S. tax refunds down nearly 9 percent vs year ago: IRS data

1 week ago DieselGasoil Comments Off on U.S. tax refunds down nearly 9 percent vs year ago: IRS data
WASHINGTON (Reuters) – The average U.S. tax refund under President Donald Trump’s tax overhaul is down nearly 9 percent so far in this year’s tax filing season, according to Internal Revenue Service data released on Thursday. FILE PHOTO: The new Form 1040 tax form for individuals, released by U.S. Treasury Department, is shown in this Read More

New York fund manager pleads guilty to Belize airport scam

1 week ago DieselGasoil Comments Off on New York fund manager pleads guilty to Belize airport scam
NEW YORK (Reuters) – A New York investment manager pleaded guilty on Wednesday to running a $21.9 million fraud in which he falsely told dozens of investors their money was being used to build an international airport in Belize, the U.S. Department of Justice said. Brent Borland, 48, a principal at Borland Capital Group, pleaded Read More

Slower growth no reason to quit China: Epoch's Van Valen

1 week ago DieselGasoil Comments Off on Slower growth no reason to quit China: Epoch's Van Valen
NEW YORK (Reuters) – Slower overall growth is the new normal for China, but the globe’s second largest economy still holds much promise for choosy foreign investors, according to U.S. portfolio manager Kera Van Valen, who helps manage over $17 billion in assets. FILE PHOTO: Kera Van Valen, managing director and portfolio manager at Epoch Read More