Money Headlines

Merrill Lynch fires brokers for promoting outside hedge fund: source


NEW YORK - Merrill Lynch fired two veteran brokers from its Private Banking and Investment Group two weeks ago for guiding clients to invest in a hedge fund outside of the brokerage firm.

7:30pm EDT

Wall Street regulator unveils proposals for dark pools, bond markets

WASHINGTON - Wall Street's self-funded regulator unveiled a list of proposals on Friday to bolster rules governing alternative trading platforms like "dark pools," computerized high-speed trading, and price transparency in the corporate bond market.

Bond funds worldwide post biggest weekly outflows of 2014: BofA

NEW YORK - Investors worldwide pulled a net $3.8 billion out of bond funds in the week ended Sept. 17 on rising fears of an early rate hike from the Federal Reserve, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

11:24am EDT

Swiss begin bankruptcy proceedings against Espirito Santo private bank

ZURICH - Switzerland's financial regulator, FINMA, said on Friday it had initiated bankruptcy proceedings against Banque Privee Espirito Santo SA (BPES), part of the Portuguese Espirito Santo family's troubled business empire.

Thu, Sep 18 2014

As women earn more, fund managers buy shares of U.S. daycare company


NEW YORK - U.S. fund managers are finding a lot to like about finger-painting and naptime.

18 Sep 2014

Gluskin Sheff profit rises more than 150 percent

Canadian asset manager Gluskin Sheff + Associates Inc said its quarterly profit more than doubled as assets under management rose 21.5 percent and performance fees increased.

18 Sep 2014

ETFs outpacing retail stock funds by wide margin: Lipper

NEW YORK - Investors in U.S.-based funds added a net $6.7 billion into stock funds in the week ended Sept. 17, data from Thomson Reuters' Lipper service showed on Thursday.

18 Sep 2014

Schwab expands commission-free ETF platform, putting focus on cost

CHICAGO - Charles Schwab Corp said on Thursday it added 65 exchange-traded funds to its commission-free trading platform, including a handful of alternative funds, citing demand from customers who want to invest in ETFs without paying online trade commissions.

18 Sep 2014

The low-vol anomaly, or doing well out of others’ mistakes

- Sometimes in life you really can get more for less, but usually only when someone else is a) acting foolishly, or b) taking advantage of a client.

18 Sep 2014

Britain's City Financial to double HK staff with new fund: CEO

HONG KONG - British asset manager City Financial Investment Co Ltd aims to double its Hong Kong staff and launch a second hedge fund to take advantage of increased investment in the region, Chief Executive Andrew Williams said in an interview.

18 Sep 2014

Key retirements mean a changing of the guard next year in U.S. Congress

Regardless what voters decide in the November elections, there will be a major changing of the guard next year in the U.S. Congress as result of a number of key retirements.