US Online Report Money Automatic

U.S. judge says Wells Fargo insider trading case may fall short

By Tom Brown NEW YORK (Reuters) - An administrative judge hearing an insider trading case against a former Wells Fargo & Co managing director cautioned on Monday that U.S. regulators may have fallen short of tough new requirements for proving insider trading...

Monday, April 20, 2015 - 4:50pm

Exchanges, SIFMA go to SEC trial in battle over market data fees

By Sarah N. Lynch WASHINGTON (Reuters) - Wall Street's leading trade group went to battle on Monday against two top U.S. stock exchanges, arguing they should not have leeway to hike the fees they charge traders to access crucial proprietary equity market data. In a...

Monday, April 20, 2015 - 2:45pm

BlackRock to pay $12 million in SEC conflict of interest case

By Sarah N. Lynch (Reuters) - BlackRock Inc, one of the world's largest asset managers, agreed to pay $12 million to resolve civil charges that one of its unit failed to disclose a conflict of interest created by one of its top portfolio managers. The U.S....

Monday, April 20, 2015 - 2:19pm

GE in talks to sell lending, leasing portfolio to Wells Fargo: source

By Mike Stone and Lewis Krauskopf (Reuters) - General Electric Co is in early-stage talks with Wells Fargo & Co about selling its entire $74 billion U.S. commercial lending and leasing (CLL) portfolio to the bank, according to a source familiar with the situation...

Monday, April 20, 2015 - 12:49pm

Two-year degrees can really pay off

By Liz Weston LOS ANGELES (Reuters) - Steven Polasck of Corpus Christi, Texas, liked math and science in high school. He considered attending a four-year college but ultimately decided to use his strengths to get a two-year degree in instrumentation from Texas State Technical...

Monday, April 20, 2015 - 11:42am

Supreme Court rejects Rajat Gupta's insider trading appeal

By Lawrence Hurley WASHINGTON (Reuters) - The U.S. Supreme Court on Monday left intact the 2012 insider trading conviction of formerGoldmanSachsGroup Inc<GS.N>director Rajat Gupta. Gupta is the highest-ranking corporate official to be convicted in the U.S....

Monday, April 20, 2015 - 9:37am

Morgan Stanley posts highest profit since financial crisis

By Anil D'Silva and Avik Das (Reuters) - Wall Street investment bank Morgan Stanley reported its most profitable quarter since the financial crisis on Monday, boosted by higher revenue from trading bonds and equities. The bank's trading business, like those of...

Monday, April 20, 2015 - 7:32am

Exclusive: Carlyle to shutter its two mutual funds

By Greg Roumeliotis (Reuters) - Carlyle Group LP has decided to liquidate the two mutual funds it launched last year, regulatory filings showed this week, as the private equity firm seeks other ways to gain more traction with so-called liquid alternative funds....

Saturday, April 18, 2015 - 1:55pm

Exclusive: TPG appoints Sisitsky head of North American private equity - sources

By Greg Roumeliotis and Olivia Oran (Reuters) - TPG Capital LP has named Todd Sisitsky its new North American private equity head, people familiar with the matter said on Friday, as the firm seeks to secure money from investors for its next flagship private equity fund with a...

Friday, April 17, 2015 - 2:27pm

U.S. companies use more of their bank credit lines in sign of confidence

By David Henry and Lauren Tara LaCapra NEW YORK (Reuters) - U.S. banks are reporting that companies are tapping more of their credit lines to fund hiring and expand their businesses, a promising sign for the economy. Commercial borrowers are using two or three...

Friday, April 17, 2015 - 1:50am

U.S.-based non-domestic stock funds attract 10th week of inflows: Lipper

By Sam Forgione NEW YORK (Reuters) - Investors poured $6 billion into U.S.-based non-domestic stock funds in the week ended April 15, marking their 10th straight week of inflows into the funds, data from Thomson Reuters' Lipper service showed on Thursday. U.S.-based...

Thursday, April 16, 2015 - 5:24pm

U.S. judge finds Wells Fargo breached 2010 mortgage settlement

By Dena Aubin NEW YORK (Reuters) - Wells Fargo Bank breached a nationwide 2010 legal settlement involving adjustable-payment mortgages, a federal judge ruled, finding that the bank did not properly evaluate homeowners who applied for help to avoid foreclosures. In an...

Thursday, April 16, 2015 - 5:06pm

Everyone (only) complains about bubbles: James Saft

By James Saft (Reuters) - Bubbles are a bit like the weather: everyone complains but no one does anything about them. That's one interpretation of the most recent survey of fund managers by Bank of America Merrill Lynch, which found growing conviction that both...

Thursday, April 16, 2015 - 4:37pm

U.S. pensioners risk overestimating Social Security benefits

By Mark Miller CHICAGO Reuters) - Some U.S. workers who have paid into the Social Security system are in for a rude awakening when the checks start coming: Their benefits could be chopped up to $413 per month without advance warning. That is the maximum potential...

Thursday, April 16, 2015 - 3:35pm

Curb your microfinance addiction and still feel good

By Chris Taylor NEW YORK (Reuters) - I was lending money to a grocery store owner in Mozambique and a cosmetics saleswoman in Haiti when I realized I was addicted. I really enjoy microfinance sites like Kiva.org, maybe a little too much. If you have $25...

Thursday, April 16, 2015 - 3:34pm

Hedge fund Engaged Capital seeks to replace three Rovi directors

By Subrat Patnaik (Reuters) - Engaged Capital LLC has written to Rovi Corp, which sells television guide programs to cable providers, seeking changes to the company's board. Engaged Capital, which owns a 0.49 percent stake in Rovi, is seeking to replace three of Rovi...

Thursday, April 16, 2015 - 2:02pm

BlackRock's Fink favors equities in Europe over U.S.: CNBC

By Jessica Toonkel (Reuters) - BlackRock Inc's chief executive officer Larry Fink said on Thursday that he is bullish on European equities and believes that Europe's GDP will beat that of the U.S. in the first quarter. "Europe is going to be the surprise for the...

Thursday, April 16, 2015 - 7:34am

GE points way for 'too big to fail' peers

By James Saft (Reuters) - If shedding its financing arm did wonders for General Electric’s stock price, maybe too-big-to-fail bank peers like Citibank and JP Morgan should consider similar moves. Not that banks will become industrials, but rather the biggest...

Thursday, April 16, 2015 - 4:02am

GE points way for 'too big to fail' peers

By James Saft (Reuters) - If shedding its financing arm did wonders for General Electric’s stock price, maybe too-big-to-fail bank peers like Citibank and JP Morgan should consider similar moves. Not that banks will become industrials, but rather the biggest banks...

Wednesday, April 15, 2015 - 4:42pm

Madoff trustee seeks to free up $1.25 bln for fraud victims

By Jonathan Stempel NEW YORK (Reuters) - The trustee recouping money for victims of Bernard Madoff's Ponzi scheme on Wednesday sought court approval to release $1.25 billion from legal reserves, potentially boosting the total payout to $8.22 billion. Irving Picard,...

Wednesday, April 15, 2015 - 2:54pm