Reuters - Money

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Monday, May 1, 2017

U.S. economic growth slower than France, 'terrible': BlackRock's Fink

CHICAGO (Reuters) - BlackRock Inc Chief Executive Officer Larry Fink on Friday sounded another warning on the U.S. economy after the government reported anemic growth in the first quarter.

NRG director wins strong shareholder support despite NYC opposition

BOSTON (Reuters) - A director at NRG Energy Inc was elected to its board with a strong margin of votes cast, a securities filing showed on Friday, overcoming concerns about his comments on climate change and the intentions of the activist investors who backed him at the New Jersey power company.

BlackRock's Fink a 'big believer' in Wells Fargo CEO

CHICAGO (Reuters) - BlackRock Inc Chief Executive Officer Larry Fink said on Friday he is a "big believer" in Wells Fargo & Co Chief Executive Tim Sloan and that the scandal-hit bank is now on a good path.

UBS's U.S. wealth business sees profits rise on client activity, lower recruiting

NEW YORK (Reuters) - Swiss bank UBS AG reported Friday that profits for its Wealth Management Americas business rose 8 percent over last year as higher operating income, client activity and cuts to recruiting offset higher employee pay doled out to top brokers.

Pimco shutters RAE Worldwide Fundamental Advantage PLUS Fund

NEW YORK (Reuters) - Pacific Investment Management Co on Friday liquidated its RAE Worldwide Fundamental Advantage PLUS Fund, a global-neutral fund which had more than $4 billion in assets under management in 2014, according to the Newport Beach, California-based firm's website.

Goldman hopes high rates will lure consumers to online bank

(Reuters) - Goldman Sachs Group Inc plans to promote its high-interest bearing deposit products in a marketing push to consumers later this year as it looks to grow its online bank, Chief Strategy Officer Stephen Scherr said in an interview on Thursday.

International stock funds attract $1.8 billion post-French election

NEW YORK (Reuters) - Investors ramped up their exposure to U.S.-based international-focused stock funds on relief that centrist Emmanuel Macron took the first round of voting in the French presidential election, reducing the prospect of an anti-establishment market shock.

More U.S. Social Security claimants see patience as a virtue

CHICAGO (Reuters) - Good things come to those who wait, the old saying goes. And more Americans are getting the message when it comes to claiming Social Security benefits.

Big hedge funds' assets edge lower in 2016: Billion Dollar Club survey

BOSTON (Reuters) - Assets managed by the largest hedge funds slipped in 2016 in their first calendar-year decline since the financial crisis, according to a survey released on Thursday by data and news provider Hedge Fund Intelligence.

Activist ValueAct says invested in private equity pioneer KKR

NEW YORK (Reuters) - ValueAct Capital said it has invested in asset management group KKR & Co, as the $16 billion activist investment fund deepens its reach into the financial sector.