Reuters - Money

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Wednesday, November 1, 2017

Ackman says his fund has restructured Herbalife position

(Reuters) - Billionaire investor William Ackman, who has been betting for five years that Herbalife Ltd's stock price would tumble to zero, said on Wednesday that his firm recently restructured its position in the nutrition and supplements maker.

Fundsmith launching sustainable equity fund after charity success

LONDON (Reuters) - Fundsmith, the asset management company run by British stock-picker Terry Smith, said on Wednesday it was launching a fund to tap growing demand from institutional clients in sustainable investment.

Prudential's U.S. life business enters private wealth market

(Reuters) - Prudential Plc's U.S. life insurance business Jackson has set up a private wealth and trust arm to manage the investments and finances of very wealthy clients.

First jobs: How to prepare for a life of giving away money

NEW YORK (Reuters) - From multiple hurricanes to earthquakes, wildfires and refugee crises, it seems there was a new humanitarian crisis at every turn in 2017.

ADP, ISS reject Ackman's claims they exchanged non-public data

(Reuters) - Automatic Data Processing Inc rejected as "false and misleading" on Tuesday the accusation by billionaire investor William Ackman that the company gave proxy adviser Institutional Shareholder Services non-publicly disclosed information.

Ex-Merrill Lynch broker to plead guilty to securities fraud

NEW YORK (Reuters) - A former Bank of America Merrill Lynch broker has agreed to plead guilty to a criminal charge of securities fraud for billing clients excessive commissions, according to federal court documents unsealed on Tuesday.

Exclusive: China's CDH, SenseTime raising about $450 million AI fund - sources

HONG KONG (Reuters) - China's CDH Investments and Hong Kong-based start-up SenseTime Group are raising about 3 billion yuan ($453 million) to invest in firms working on artificial intelligence (AI) technology, two sources with knowledge of the matter told Reuters.

Morgan Stanley quits brokerage industry pact on recruiting

NEW YORK (Reuters) - Morgan Stanley is quitting a pact it signed with rival securities brokerages over a decade ago agreeing not to sue one another when brokers quit to join rivals and take clients with them.

Proxy adviser ISS sides against five Twenty-First Century Fox directors

BOSTON (Reuters) - Proxy adviser Institutional Shareholder Services on Monday recommended investors vote against the re-election to the board of five Twenty-First Century Fox Inc directors, mainly citing concerns over a lack of action on executive pay.

U.S. investigating forex trading at Wells Fargo: WSJ

(Reuters) - Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.