Monthly Archives: February 2004
Tokyo Stocks Further Down in Morning on Weaker Dollar
Tokyo, Feb. 4 (Jiji Press)–Stocks ceded further ground on the Tokyo Stock Exchange Wednesday morning, as the dollar’s continued weakness weighed on shares of major high technology firms andautomakers. At the morning close, the 225-issue Nikkei average stood down 128.16 […]
Janus Reports $63M in Fourth-Quarter Costs
Janus Capital Group Inc. reported $62.8 million in fourth-quarter costs related to mutual fund investigations Wednesday, putting a slight crimp in earnings for the period that surged on a one-timegain. The Denver-based company reported net income of $812.9 million, or […]
Franklin Funds Parent Accused of Fraud
BOSTON (AP) – State regulators accused the parent company of mutual fund firm Franklin Templeton of fraud Wednesday for allegedly allowing a Las Vegas businessman to market time $45 million in mutualfunds in exchange for a $10 million investment in […]
Hedge Watch
A NEW index of hedge funds is to join the FTSE 100 and the FTSE All Share among the barometers of investment returns. FTSE Group announced plans to launch FTSE Hedge, an index reflecting theperformance of 40 hedge funds worldwide, […]
Shell gets jitters ahead of crunch day for chairman ; Market Report
THE City fears tomorrow could be D-Day for oil giant Shell when it unveils fourth-quarter and full year results. Fourth-quarter earnings are expected to be down by almost a third after a previously announced write-off totalling Pounds 1 billion. Analysts […]
Nightly Business Report
xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: February 4, 2004> Time: 18:30:00> Tran: 020400cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Susie Gharib, Jeff Yastine> Guest: Ronald Sugar, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> SUSIE GHARIB, NIGHTLY […]
CORRECTION: SEC Probes Fund Tied to U.S. Bancorp
Feb. 4–The Milwaukee Journal Sentinel has moved a correction for the story slugged MW-MUTUAL filed by Knight Ridder/Tribune Business News for Feb. 4. The new version deletes the penultimate grafbeginning “Milwaukee’s Artisan Partners …” to remove the company from the […]
Amvescap sets aside pounds 20m for US market timing investigation
AMVESCAP, THE Anglo-American fund manager, yesterday revealed that it had set aside more than pounds 20m to cover the costs of an investigation by US authorities into examples of controversial markettiming trading within its business. The company included a pounds […]
SHARES AND MARKET REPORT: US hedge fund stake building puts spark into British Energy
SHARES IN the electricity generator British Energy have been set alight in the past week by news that the US hedge fund Appaloosa has taken a 4 per cent stake in the company. The shares rose afurther 21 per cent, […]
Ex-bank official charged in fund case
A former executive at Canadian Imperial Bank of Commerce was arrested Tuesday and faces criminal and civil charges by U.S. regulators in an illegal mutual fund trading scheme. New York Attorney General Eliot Spitzer’s office arrested Paul Flynn, a former […]
Employers, Taxpayers Face Rising Subsidies to Fund Guaranteed Pensions
Feb. 4–Like a sunny morning after a bleak February storm, the stock market’s recovery has eased some of the strain on U.S. pension plans. But corporations and taxpayers still face years of rising subsidies to fund the checks promised to […]
Former CIBC Executive Arrested in Probe of Mutual Fund Trading
Feb. 4–Former CIBC managing director Paul Flynn was arrested outside his Larchmont home yesterday and led off in handcuffs to face criminal charges in the expanding probe of improper mutual fundtrading. Flynn, 46, pleaded not guilty to five felony counts […]