By Chris Taylor NEW YORK (Reuters) – If scoring your dream job seems impossible, meet Priyanka Naik. Not long ago the tech executive was successfully helping to lead partnerships for social media site Twitter, now called X. Her dream, though, was to be a vegan chef. Now Naik is a Food Network champion and author …
By Svea Herbst-Bayliss and Laura Sanicola (Reuters) – Elliott Investment Management has taken a $1 billion stake in Phillips 66 and is urging the U.S. oil refiner and pipeline operator to revamp its board to boost lagging performance. The activist investment firm in a letter to the Houston energy company’s board on Wednesday said Phillips …
Elliott takes $1 billion stake in US oil refiner Phillips 66, urges board revamp Read More »
By David Shepardson (Reuters) -General Motors said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33% dividend increase and “substantially lower” spending at its robotaxi unit Cruise. The buyback is the equivalent at Tuesday’s closing price to …
GM sees $9.3 billion hit from labor deals, outlines $10 billion buyback Read More »
By Ross Kerber BOSTON (Reuters) – State Street’s asset-management arm will give retail investors an option to fully back corporate boards as it brings online features to allow fund shareholders to control their proxy voting rights, executives said. The option comes as State Street and rivals move to devolve proxy voting powers to shareholders on …
State Street adds option to fully back corporate boards Read More »
By Nell Mackenzie LONDON (Reuters) – Investors pulled a net $7.6 billion from the hedge fund industry in October, particularly from low performing stock pickers as many of these funds failed to improve their performance from last year, Nasdaq research firm eVestment said on Wednesday. This was after investors pulled a net $19.2 billion from …
Hedge funds suffer net $7.6 billion outflows in October – eVestment Read More »
By Bansari Mayur Kamdar (Reuters) – The biggest U.S. ETF tracking clean energy shares was on track for record annual outflows as a rapid rise in interest rates, surging raw materials costs and supply chain disruptions make the fund less attractive to investors. The iShares Global Clean Energy ETF has reported over $1 billion in …
Investors exit clean energy funds as higher interest rates bite Read More »
By Marc Jones LONDON (Reuters) – Amundi, Europe’s largest asset manager and among the top 10 in the world, has started dipping its toe back into the Turkish lira having been impressed by the country’s turnaround efforts since its mid-year elections. The Paris-based firm, which has $2 trillion worth of assets under management, is yet …
Exclusive-European fund giant Amundi dips toe back into Turkey’s lira Read More »
LONDON (Reuters) – Symphony, the markets infrastructure and tech firm, is teaming up with Google to ramp up its voice analytics offering to banks and investment firms, executives told Reuters, as regulators get tough on communications compliance. The U.S. Securities and Exchange Commission has imposed more than $2 billion in fines for missteps in this …
Google, Symphony unveil AI JV to help banks manage voice calls compliance risk Read More »
By Kylie Madry MEXICO CITY (Reuters) – Latin American venture capital firm NXTP has raised $98 million for a fund targeting technology startups largely in Brazil and Mexico, it said on Tuesday. Despite current macroeconomic headwinds, there is an “enormous” opportunity to invest in Latin American startups, said NXTP managing partner Darly Bendo. “We’re seeing …
Venture capital firm NXTP to target Brazil, Mexico tech startups with $98 million fund Read More »
By Victoria Klesty and Terje Solsvik OSLO (Reuters) -Norway’s $1.5 trillion sovereign wealth fund, the world’s largest, should include private equity investments in its portfolio, allocating up to $70 billion, the country’s central bank recommended on Tuesday. The Norwegian finance ministry in March asked the executive board of Norges Bank, which manages the fund, to …
Norway wealth fund could invest $70 billion in private equity Read More »
