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Friday, November 10, 2017

U.S. begins $4.05 billion Madoff fund payout, thousands to recoup losses

NEW YORK (Reuters) - The U.S. government said it has begun distributing $772.5 million from a $4.05 billion fund to compensate victims of Bernard Madoff's Ponzi scheme, ending a nearly nine-year wait for thousands of people to start recouping their losses.

Is tax reform the final straw for alimony?

NEW YORK(Reuters) - As soon as the House of Representatives' proposed tax reform bill had hit the news, divorce lawyer Malcolm Taub's phone started to buzz.

U.S. fund investors snap up international stocks: Lipper

NEW YORK (Reuters) - U.S. investors favored international stock markets, pushing $4.1 billion into equity funds focused abroad during the most recent week, dodging risks at home, Lipper data showed on Thursday.

For U.S. Republicans, tax reform math hinges on cutting Medicare

CHICAGO (Reuters) - U.S. retirement savers dodged a speeding train last week when Republican lawmakers racing toward tax reform dropped their plan to sharply reduce allowable tax-deferred contributions to 401(k) plans. That idea is off the table - at least for now.

Investment veterans launch real estate, hospitality buyout vehicle

NEW YORK (Reuters) - The former chairman of fund manager Man GLG and the ex-president of Vornado Realty Trust are behind a buyout vehicle that will seek deals in the real estate and hospitality sectors, according to marketing materials seen by Reuters on Thursday.

Icahn subpoenaed by U.S. on biofuels dealing: filing

NEW YORK (Reuters) - Billionaire investor Carl Icahn has been subpoenaed by the U.S. Justice Department over his efforts to overhaul the U.S. biofuels program during his time as an unpaid adviser to President Donald Trump, his company said in a securities filing.

Merrill Lynch to raise pay for top-performing brokers in 2018

NEW YORK (Reuters) - Bank of America Merrill Lynch said on Wednesday that it will increase the pay of brokers each month who grow their business in 2018 and will cut the monthly pay of those who do not, in a bid to the Wall Street brokerage's own growth.

Investors size up U.S. tax reform after Democrats gain in elections

NEW YORK (Reuters) - If the election of Donald Trump as U.S. president was a big catalyst behind a 23 percent rally in the S&P 500 over the past year, Tuesday’s first wide-scale retesting of his agenda with voters could signal the clock is ticking for Republicans to deliver on a range of so-far unkept promises before a much larger ballot showdown next year.

Proxy advisers back Vanguard, smoothing path in fund votes

BOSTON (Reuters) - Proxy advisers Institutional Shareholder Services and Glass Lewis & Co each recently backed Vanguard Group Inc's management on fund trustee nominees and administrative items set for a rare shareholder vote next week, according to recommendations seen by Reuters.

Exclusive: Baring Private Equity Asia raising new $6 billion fund - sources

HONG KONG (Reuters) - Hong Kong-based Baring Private Equity Asia is aiming to raise $6 billion in a new Asian fund, as investors hungry for growth in emerging markets fuel a regional fund-raising bonanza, five people with knowledge of the matter said.