By Yadarisa Shabong and Elisa Anzolin (Reuters) -Saudi Arabia’s PIF sovereign wealth fund will buy a 49% stake in luxury hotel group Rocco Forte Hotels and help to support its expansion, the owner of Britain’s Balmoral hotel said on Monday. PIF’s purchase gives the hotel group an enterprise value of around 1.4 billion pounds ($1.8 …
Saudi wealth fund to buy 49% of luxury hotel chain Rocco Forte Read More »
By Suzanne McGee (Reuters) – Investors have been piling into an exchange-traded fund (ETF) designed to track U.S. natural gas prices, in spite of the commodity’s dismal performance in 2023. The U.S. Natural Gas Fund’s (UNG) price, tied to the performance of futures contracts on the commodity, has plunged 60.7% so far this year, falling …
Investors flock to US natural gas ETF despite price slump Read More »
NEW YORK (Reuters) – BNY Mellon will increase its minimum wage next year to $22.50 an hour from $20 and expand mental health benefits for employees, the bank said in a statement on Friday. The pay boost takes effect in March and is the company’s third in the last three years. The oldest U.S. bank …
BNY Mellon to raise minimum wage, add mental health benefits Read More »
(Reuters) -Canada’s Brookfield Asset Management said on Friday it had raised $28 billion for its largest-ever fund, wagering on infrastructure assets the company believes would benefit from a shift to “deglobalization”, given recent geopolitical tensions. Infrastructure investments typically offer better protection from market volatility and economic turbulence. Since last year, a dearth of opportunities for …
Canada’s Brookfield raises record $28 billion for infrastructure fund Read More »
LONDON (Reuters) – November was the best month in over three decades for a classic stock and bond portfolio, as both markets posted their best returns in years, according to a Bank of America Global Research report on Friday. A typical 60/40 portfolio – one that holds 60% in stocks and 40% in bonds – …
Average 60/40 portfolio has best month in November since 1991 – BofA Read More »
By Svea Herbst-Bayliss, Dawn Chmielewski and Samrhitha A (Reuters) -Activist investor Nelson Peltz is pushing ahead with plans to seek at least three board seats at Disney as the firm is not satisfied with Disney CEO Bob Iger’s changes, several people familiar with the matter said. During a conversation on Thursday morning with Iger, Disney …
Nelson Peltz’s Trian to seek at least three Disney board seats, sources say Read More »
By Jonathan Stempel NEW YORK (Reuters) -Bank of America has been fined $24 million after two former traders placed phony “spoof” trades to try to influence the market for U.S. Treasuries, the Financial Industry Regulatory Authority said on Thursday. Spoofing involves placing orders traders intend to cancel, hoping to create a false sense of market …
US regulator fines Bank of America $24 million for Treasuries spoofing Read More »
By Suzanne McGee (Reuters) – GraniteShares plans to increase the amount of leverage on most of its single-stock exchange-traded funds (ETFs) to 200%, allowing investors to make bigger bets on daily movements in a handful of widely traded stocks, a Thursday filing with the Securities and Exchange Commission showed. In the filing, GraniteShares said the …
GraniteShares plans to boost leverage levels on US single-stock ETFs Read More »
By Tomo Uetake TOKYO (Reuters) – Harris Associates is finding plenty of investment opportunities in Europe, while taking a more cautious stance on Japan, its vice chairman and chief investment officer of international equities told Reuters. Harris Associates is a Chicago-based investment company that had $95 billion in assets under management as of the end …
Harris Associates says cautious on Japan, all in on Europe Read More »
LONDON (Reuters) – Global public pension fund assets dropped slightly to $25.9 trillion in 2023 from $26 trillion a year earlier, as inflation dented returns from bond investments, according to a report published on Thursday. The slippage follows two years of strong asset growth, with the funds also grappling with a rise in real interest …
Global public pension assets dip to $25.9 trln in 2023 -report Read More »
