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(Reuters) – U.S. equity funds posted enormous outflows in the week to December 7 as investors fretted over the Federal Reserve’s rate hikes, with data showing a rebound in employment and a pick up in the services sector. According to data from Refinitiv Lipper, U.S. equity funds recorded withdrawals of $26.66 billion, the biggest weekly …

U.S. equity funds register biggest weekly outflow in about 1-1/2 years Read More »

(Reuters) – Outflows from global equity funds in the week ended Dec. 7 hit a three-month high on fears that interest rates could stay higher for longer than expected amid mounting worries about a recession next year. According to Refinitiv Lipper data, investors offloaded a net $22.03 billion worth of global equity funds, marking their …

Global equity funds record biggest weekly outflows in three months Read More »

By Svea Herbst-Bayliss NEW YORK (Reuters) -Hedge fund Third Point has built a stake of just over 6% in Bath & Body Works and is pushing for new board members at the retailer, the fund said in a regulatory filing on Thursday, laying the foundation for a possible board challenge. The stock price climbed in …

Hedge fund Third Point adds Bath & Body Works stake, seeks board changes Read More »

By Mark Miller (Reuters) – Call the Social Security toll-free number for assistance these days, and this is the message you will hear: “We are experiencing service issues including poor call quality, dropped calls and long wait times. We apologize in advance if you encounter disruptions.” That pretty well sums up the state of customer …

Column-Funding cuts have put U.S. Social Security customer service in crisis mode Read More »

LONDON (Reuters) – Britain’s Financial Conduct Authority said on Thursday it has fined inter-dealer brokers BGC Brokers LP, GFI Brokers Limited, and GFI Securities Limited 4.77 million pounds ($5.80 million)for failing to ensure they had appropriate controls to detect market abuse. “Between July 2016 and January 2018, BGC/GFI had manual, automatic and communications surveillance processes …

UK financial watchdog fines brokers over market abuse controls Read More »

By Medha Singh (Reuters) – Total funding at crypto startups this year is set to exceed investments in 2021, research firm Pitchbook said on Thursday though the pace of capital deployment is slowing as a series of crypto blowups sapped private equity investment appetite. Crypto projects globally attracted $19.9 billion in venture capital (VC) investments …

Slowing crypto startup funding may still surpass 2021 record – Pitchbook Read More »

By Chibuike Oguh NEW YORK (Reuters) – Blackstone Inc Chief Executive Stephen Schwarzman said on Wednesday that redemptions in his firm’s $69 billion non-traded real estate income trust (REIT) were driven by investors roiled by market volatility rather than dissatisfaction with the fund. Blackstone shares have lost 15% of their value since Dec. 1, when …

Blackstone CEO says financially distressed investors driving REIT redemptions Read More »

(Reuters) – BNP Paribas SA has appointed several senior executives to its Global Markets Americas division, the European bank said on Wednesday, in a move to further consolidate its presence in the United States. The French bank appointed former Morgan Stanley executive Kunal Maini as the co-head of Global Macro – Americas and he will …

Europe’s BNP Paribas appoints senior executives to Global Markets Americas division Read More »

(Reuters) – Asset manager Blackrock on Wednesday said that a new regime of greater macroeconomic and market volatility means that investors should demand more compensation for taking the same levels of risk and should increase their strategic allocations in inflation-linked bonds, high yield and investment grade credit. A week after it released its 2023 global …

Blackrock says calls for increased overweight in inflation-linked bonds Read More »