Italy's Del Vecchio calls on Mediobanca to grow through M&A
MILAN (Reuters) - Mediobanca's third-biggest investor Leonardo Del Vecchio called for it to get bigger through acquisition on Friday, stepping up his questioning of the Italian merchant bank's strategy.
Brexit extension, election still most likely, says UBS
LONDON (Reuters) - UBS Wealth Management said on Friday it still expects the UK government to ask for an extension to the deadline for exiting the European Union and to hold a general election, though it acknowledged that chances of a Brexit deal have increased.
Elliott ranks as busiest activist hedge fund in third quarter, again
BOSTON (Reuters) - Elliott Management, Paul Singer's $35 billion hedge fund, kept up its blistering pace of pushing for corporate changes during the third quarter, outspending all rivals with campaigns at AT&T and Marathon Petroleum Corp , data released on Friday showed.
Exclusive: Wells Fargo beefs up mortgage division to cope with higher volumes
(Reuters) - Wells Fargo & Co
is boosting its teams that process mortgage loans to prepare for higher mortgage volumes, changing course after it laid off about 1,000 employees https://www.reuters.com/article/us-wells-fargo-layoffs/wells-fargo-plans-1000-u-s-job-cuts-idUSKCN1NK2P7 in the division in 2018, according to a memo viewed by Reuters.
Fidelity follows rivals in cutting online trading commissions to zero
(Reuters) - Fidelity Investments on Thursday eliminated commissions on online trades of U.S. stocks, exchange traded funds (ETFs) and options, becoming the latest brokerage to cut trading fees to compete with new entrants in the market.
Exxon names BAML to run Malaysia asset sales: sources
LONDON (Reuters) - Exxon Mobil Corp has appointed Bank of America Merrill Lynch to run the sale of its Malaysian oil and gas assets as the U.S. firm accelerates a vast disposal program, banking and industry sources said.
Fund investors dump U.S. stocks as recession worries mount
NEW YORK (Reuters) - Investors retreated from the U.S. stock market by unloading nearly $11.8 billion from mutual funds and exchange traded funds that hold domestic equities last week, as concerns about the strength of the U.S. economy mounted, according to data released by the Investment Company Institute on Wednesday.
Yields rise on heavy supply at auction and trade hopes
NEW YORK (Reuters) - U.S. Treasury yields rose on Wednesday, a day that saw a flood of supply and on optimism for progress in U.S.-China trade negotiations that begin in Washington on Thursday.
KKR seeks $1.5 billion for third special situations fund: sources
(Reuters) - U.S. private equity firm KKR & Co Inc is seeking to raise $1.5 billion for its third special situations fund, people familiar with the matter said on Friday.
Wall Street Week Ahead: Bruised U.S. banks expected to report third quarter earnings decline
NEW YORK (Reuters) - The biggest U.S. banks are expected to kick off the earnings season on a sour note next week due to falling interest rates, which may have pressured net interest margins enough to cause the sector's first year-over-year earnings per share decline in three years.