Law firm Slater & Gordon Ltd has filed a class-action suit against Commonwealth Bank of Australia seeking damages of more than A$100 million ($71 million) after the bank allegedly invested the retirement savings of thousands of customers into low, uncompetitive interest-returning products.
Wall Street's bond firms are sopping up a growing amount of Treasury debt as the U.S. government seeks to fund a rising budget deficit stemming from the massive tax cut enacted last December, Treasury Department data released on Tuesday showed.
William Ackman said on Tuesday his activist hedge fund Pershing Square Capital Management LP has built a roughly $900 million position in Starbucks Corp , betting the world's biggest coffee chain can overcome stagnant sales in its home market.
Canada's second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion pounds ($2.09 billion).
Commonwealth Bank of Australia said on Tuesday it will refund fees taken out of dead client accounts and unwind a controversial system of charging customers commissions on financial products.
Hedge funds may have trimmed their record bet against U.S. Treasuries, as the latest data show, but the 10-year yield's spike to fresh multi-year highs in the days since suggests that short position will now be even greater.
