Reuters - Money

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Wednesday, November 8, 2017

Billionaire investor Ackman loses bitter ADP proxy battle

ROSELAND, N.J. (Reuters) - William Ackman got what Automatic Data Processing Inc's chief executive called an "ass-whipping" on Tuesday as the activist hedge fund manager lost an acrimonious fight to win seats on the payroll company's board.

Guns, ammo lumped with hospitals, greeting cards in U.S. fund filings

BOSTON (Reuters) - U.S. investors who want to divest from firearms and ammunition makers may find it not so straightforward: They are hidden among the stocks and bonds of hospitals, toymakers and greeting card companies.

U.S. investors target 'buyback stocks' in bet on Trump tax plan

NEW YORK (Reuters) - Rather than waiting to see how the Republican tax bill will fare in Congress, some investors are already picking out gingerly technology, healthcare and consumer companies they expect to use potential tax savings to buy back more of their own stock.

China plans easing foreign holding, partner choice for securities ventures - sources

HONG KONG (Reuters) - China plans to allow global banks to take a stake of up to 51 percent in their onshore securities ventures for the first time and tie up with local non-financial firms, people familiar with the matter said.

One-year since Trump's win, U.S. funds enjoy strong growth

LONDON (Reuters) - Assets managed by U.S.-based funds have grown substantially, led by equity funds, since Donald Trump won the U.S. presidential elections a year ago.

Custos seeks Johnston Press shareholder meeting for board shake-up

(Reuters) - Newspaper publisher Johnston Press Plc said it received a letter from its biggest shareholder and activist investor Custos Group, demanding a shareholder meeting for the removal of interim Chairman Camilla Rhodes.

Trial of ex-NYC union head, Platinum Partners co-founder winds down

NEW YORK (Reuters) - The federal corruption trial of Norman Seabrook, the former head of New York City’s correction officers’ union, and Murray Huberfeld, a co-founder of defunct hedge fund Platinum Partners, came to a close on Tuesday, with arguments focusing on the credibility of prosecutors' star witness.

San Francisco fund manager gets 2-1/2 years for fraud conspiracy

NEW YORK (Reuters) - A San Francisco investment fund manager was sentenced to 2-1/2 years in prison on Tuesday after he pleaded guilty to conspiring to defraud investors by fabricating an impressive investing track record.

Your Money: Splitting retirement accounts is tricky for DIY divorce

NEW YORK (Reuters) - If you are trying to have a low-cost, do-it-yourself divorce, it may seem reasonable to just split up the retirement assets and each go your separate ways.

Wells Fargo targets post-boomer customers with robo-adviser

(Reuters) - Wells Fargo Inc on Monday launched a new robo-adviser to give first-time investors a low-cost option to invest, joining other financial firms in the hunt for tech-savvy customers looking to enter the markets.