Monthly Archives: November 2003
Worries mount over future of Abbey funds unit
FEARS are mounting over the future of Abbey National Asset Managers, the (pounds) 28bn funds operation in Glasgow, and Abbey yesterday provided a less-than-reassuring response to a rumour that thedivision could be axed by Christmas. Asked about a claim made […]
ZAP CEO Says Electric Cars Bridge Gap to Hydrogen Infrastructure on WallSt.net
SANTA ROSA, Calif., Nov 11, 2003 /PRNewswire via COMTEX/ — Battery-powered cars are available today and can help drive the world towards a hydrogen fuel economy, says Steve Schneider, CEO for ZAP(OTC Bulletin Board: ZAPZ), during an interview scheduled to […]
Amvescap denies it is Spitzer target
AMVESCAP ATTEMPTED to shore up its reputation yesterday by issuing a denial that Eliot Spitzer, New York’s high-profile investigator of Wall Street murky practices, had threatened legal proceedingsagainst the giant Anglo-American fund manager. The company’s statement that it had “received […]
Chairman of Wisconsin-Based Strong Capital Seeks Consideration amid Scandal
Nov. 11–In his first interview since the New York attorney general in early September raised questions about improper trading at his firm, Richard S. Strong told Fortune magazine he is through”grieving” over the problems he and his investment company face. […]
Central Florida Brokerage Acknowledges After-Hours Trading by Employees
Nov. 11–A Central Florida securities brokerage has become one of the first stock firms in the country to acknowledge that some of its employees were involved in after-hours trading of mutual funds,an illegal practice at the heart of a nationwide […]
Milliman USA Will Acquire Evaluation Associates Consulting; Top-Ranked Firm to Strengthen Institutional Investment Consultancy
SEATTLE–(BUSINESS WIRE)–Nov. 10, 2003–Milliman USA, a Seattle-based consulting firm, announced today that it has signed an agreement to acquire Evaluation Associates, the consulting division ofNorwalk, CT-based EAI Partners, LP. Evaluation Associates is a top ten-ranked full-service investment consulting firm serving […]
Russell to Hold Investment & Governance Symposium for Endowments & Foundations in Los Angeles
TACOMA, Wash.–(BUSINESS WIRE)–Nov. 10, 2003–Russell Investment Group: One-Day Educational Forum Will Address Critical Issues Facing Both Trustees and Staff of Non-Profit Organizations and Foundations Agenda Will Focus on Investment and Spending Issues, Governance and Fiduciary Responsibilities, and Philanthropy in the […]
Cogency Software Licenses Cogency Wisdom to StoneHedge Partners for Enterprise Risk Monitoring and Alerting
SAN MATEO, Calif.–(BUSINESS WIRE)–Nov. 10, 2003–Cogency Software, Inc., the provider of enterprise risk reduction applications, today announced that it has licensed its Cogency Wisdom(TM) forHedge Funds to StoneHedge Partners, Inc., an integrated hedge fund services organization, based in New York […]
Funds’ fears and fees led to timing scandal
NEWS ANALYSIS Funds’ fears and fees led to timing scandal By GRETCHEN MORGENSON New York Times Monday, November 10, 2003 In the early 1990s, mutual fund companies occasionally allowed select institutional clients to trade fund shares rapidly, a practice known […]
Tokyo Stocks Retreat in Morning
Tokyo, Nov. 10 (Jiji Press)–Stocks headed lower on the Tokyo Stock Exchange Monday morning, following a downturn in U.S. stocks last Friday. The market little reacted to Sunday’s general election in which Prime Minister Junichiro Koizumi’s ruling coalition retained power […]
Tokyo Stocks Fall on Wall St. Setback, Banks Sold Heavily
Tokyo, Nov. 10 (Jiji Press)–Stocks retreated on the Tokyo Stock Exchange Monday, as banks and other high-fliers in the key Nikkei average met with selling after strong employment data failed toboost U.S. stocks on Friday. Players said the results of […]
Nikkei Gets No Boost, with Koizumi’s Victory Narrow
By Yuka Yamamori Tokyo, Nov. 10 (Jiji Press)–A narrow victory of Japanese Prime Minister Junichiro Koizumi’s ruling coalition in Sunday’s general election left the stock market with little positive surprise Monday, leading bearish sentiment to prevail. The benchmark Nikkei average […]