NEW YORK (MarketWatch) — Fidelity Investments said Thursday that it plans to lay off about 1,300 staff, starting later this month. The firm said that there will be a second round of layoffs in the first quarter of 2009, though details are still being finalized. “Global economic conditions and the unsettled nature of the world’s [...]
By Katherine Burton
Oct. 17 (Bloomberg) — Andrew Lahde, the hedge-fund manager who quit after posting an 870 percent gain last year, said farewell to clients in a letter that thanks stupid traders for making him rich and ends with a plea to legalize marijuana.
Lahde, head of Santa Monica, California-based Lahde Capital Management LLC, [...]
SAN FRANCISCO (MarketWatch) — Hedge funds saw a record $210 billion drop in assets under management during the third quarter as investors redeemed an unprecedented amount of money from the industry after poor performance, according to a survey released Friday.
“With losses continuing through October, it appears that 2008 will be the worst year on record [...]
PARIS (Dow Jones)–The European banking sector continues to be reshuffled at
breakneck speed, as several household institutions either fall into the hands of
more powerful rivals or are being nationalized by their governments.
While the dust hasn’t settled yet, a handful of banks seem to be benefiting from
the current turmoil and are emerging as winners: HSBC Holdings PLC [...]
Merrill Lynch agrees to $50 billion bid from B of A
Wary of the global financial storm, firm accepts $29-share all-stock proposal
By MarketWatch
Last Update: 9/15/2008 9:49:00 AM
NEW YORK (MarketWatch) — Merrill Lynch & Co., navigating in a global financial
storm, agreed to be bought by Bank of America Corp. in an all-stock deal the
companies valued at $50 [...]
State Street Corporation Announces Increase to Quarterly Dividend
BOSTON, Jun 19, 2008 (BUSINESS WIRE) — State Street Corporation today increased
its quarterly dividend $0.01 per share, to $.24 per share, payable July 15, 2008,
to stockholders of record as of the close of business on July 1, 2008. Following
today’s action, the quarterly dividend rate is 9% higher than [...]
UPDATE: Bank Of New York 1Q Net Up 71% On Yr-Earlier Merger
Last Update: 4/17/2008 7:16:52 AM
DOW JONES NEWSWIRES
Bank of New York Mellon Corp.’s (BK) first-quarter net income rose 71% on its
2007 merger as the company saw some benefits from market volatility.
The giant asset manager and securities servicer posted net income of [...]
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