Fidelity boosts valuation of WeWork Companies by 53 percent

BOSTON (Reuters) - Fidelity Investments, one of the largest investors in pre-IPO companies, boosted the value of office space provider WeWork Companies Inc by 53 percent in December, the mutual fund...

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Photos of the week

Our top photos from the past week.

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Klarman's Baupost fund posts 2015 losses due to energy firms

NEW YORK/BOSTON (Reuters) - Billionaire investor Seth Klarman, whose Baupost Group hedge fund ranks among the world's largest and most admired, told clients he lost money last year, in part because...

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Hedge fund clients look to global macro funds for profit in 2016

BOSTON (Reuters) - As 2016 shapes up to be even more unpredictable than last year, wealthy investors are planning to allocate more of their money to hedge funds focusing their bets on rates,...

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SEC to scale back broker exams to focus more on advisers: sources

WASHINGTON (Reuters) - U.S. securities regulators plan to scale back examinations of brokers so they can shift resources to improve oversight of investment advisers, which have traditionally faced...

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Vanguard plans to charge fees as low as 0.01 percent

(Reuters) - Vanguard Group Inc, the world's biggest mutual fund company, has applied to create a new share class for some funds that would charge investors as little as 0.01 percent, or $1 for every...

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Labor Department moves forward on retirement advice proposal

WASHINGTON (Reuters) - The U.S. Labor Department on Friday took the next step toward requiring brokers who provide retirement advice to follow a "fiduciary" standard of putting clients' interests...

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El-Erian says countries weakening currencies in fight for global growth

NEW YORK (Reuters) - Mohamed El-Erian, the chief economic advisor at Allianz, said on Friday the Bank of Japan's shocking move to take one of its main interest rates into negative territory...

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BlackRock switches benchmarks on U.S. bond ETFs

NEW YORK (Reuters) - BlackRock Inc said on Friday it will change the benchmarks on four iShares Treasury exchange-traded funds (ETFs) from Barclays' Treasury bond indexes to ICE's Treasury bond...

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Why millennials want to quit their jobs

NEW YORK (Reuters) - Twenty-eight year old Margaret Davis was making nice money as a writer in the legal department of a big pharmaceutical company in New York.

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Wells Fargo, BofA look to integrate Apple Pay into ATMs: TechCrunch

(Reuters) - Wells Fargo & Co and Bank of America Corp are working to integrate mobile payment system Apple Pay into their ATMs, technology news website TechCrunch reported.

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Investors pull $1.2 billion from stock funds during weekly period: Lipper

NEW YORK (Reuters) - U.S.-based stock funds posted $1.2 billion in outflows during the week that ended Jan. 27, Lipper data showed on Thursday, as investors shied away from risky financial assets for...

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Federal Reserve releases scenarios for 2016 bank stress tests

WASHINGTON (Reuters) - Large financial firms will have to show how they would survive a "severely adverse scenario", including a global recession where U.S. unemployment shoots up to 10 percent and...

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Politics to blame for China stocks' lost decades: James Saft

(Reuters) - The huge and puzzling gap between China’s great long-term economic growth and the terrible performance of its stock market is significantly explained by politics.

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Toronto fund manager, NY firm settle SEC charges they misled investors

(Reuters) - A Toronto hedge fund manager and his New York firm agreed to reimburse $2.88 million to investors who were misled about the firm's strategy and performance, and suffered losses after...

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Here comes the sun - and with it, U.S. earnings excuses

NEW YORK (Reuters) - U.S. companies are singing the warm weather blues this corporate earnings season.

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NY regulator extends comment period for anti-money laundering plan

(Reuters) - New York State's financial regulator has extended by nearly two months the comment period for a proposal requiring banks to strengthen measures to prevent money laundering and the...

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Bearish views abound at elite hedge fund conference

PALM BEACH, Fla. (Reuters) - Hedge funds are starting the year off negative.

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When not to save for retirement

CHICAGO (Reuters) - Everyone should save for retirement - that is a mantra we have all heard endlessly.

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Palm Beach hedge fund glitz fails to impress some investors

PALM BEACH, Fla. (Reuters) - Some of the largest investors in the world jetted home underwhelmed on Wednesday from a three-day blitz of meetings with hedge fund managers, unimpressed by their bearish...

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Ackman's Pershing Square Holdings down 11.2 percent so far in 2016

BOSTON (Reuters) - Billionaire investor Bill Ackman's Pershing Square Holdings lost 11.2 percent since the start of the year, beginning 2016 with the same kind of double-digit losses that plagued the...

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U.S.-based bond funds post $1.9 billion outflows in latest week: ICI

NEW YORK (Reuters) - Investors in U.S.-based mutual funds pulled $1.9 billion out of bond funds in the latest week, potentially on concerns that stubbornly low oil prices could continue to hurt...

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Big client hits State Street with large withdrawals

BOSTON (Reuters) - Shares of State Street Corp fell about 5 percent on Wednesday after the custody bank reported a decline in fourth-quarter revenue and heavy withdrawals by a large institutional...

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Simply not cricket: Pakistan man faces jail for flying India flag

ISLAMABAD (Reuters) - A Pakistani man has been arrested for hoisting the flag of arch rival India on his roof, an act police described as "anti-state" but which the accused says was a tribute to Indian cricket captain Virat Kohli, officials said on Wednesday.

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