NEW YORK–(BUSINESS WIRE)–Oct. 1, 2003–Fox-Pitt, Kelton (“FPK”), the only investment bank specializing in financial institutions worldwide, today announced the appointment of Joseph C. Duwan asU.S. Director of Research and a senior member of the U.S. Bank Research Team. Mr. Duwan […]

xfdce NIGHTLY-BUSINESS-REPO-00 Show: NIGHTLY BUSINESS REPORT> Date: October 1, 2003> Time: 18:30:00> Tran: 100100cb.118> Type: SHOW> Head: Nightly Business Report> Sect: Business> Byline: Paul Kangas, Susie Gharib> Guest: Barry Griswell, Kevin McCormally> Spec: Business; Economy> Time: 00:00:00> PAUL KANGAS, NIGHTLY […]

GLASGOW-BASED housing firm Clan Homes said it was still considering voluntary liquidation as it turned a marginally wider full-year loss of GBP 51,473. The company gained shareholder approval at anextraordinary general meeting in August for plans to sell its property […]

The branch manager at Prudential Securities’ Boston office and five brokers there were forced out Monday, sources said yesterday, after the office was targeted by state and federal probes intoimproper mutual fund trading. The manager, Robert E. Shannon, was asked […]

The FTSE 100 Index continued its retreat towards the 4,000 mark yesterday as gloomy economic data from the United States rocked sentiment. Weaker-than-expected consumer confidence figures were largely to blame as the Dow Jones Industrial Average fell 100 points by […]

HEDGE fund guru Stanley Fink reckons some of his Man Group funds are safer for punters than shares. Man’s multimillionaire chief executive says: ‘We have certain funds that, mathematically, are safer than equities.’ He admits hedge funds are more complicated […]

DON’T PANIC, don’t panic. The City’s dealers were rushing to keep up with the Corporal Joneses yesterday, as disappointing economic data and turmoil on the foreign exchange markets sent share pricesinto a last-minute dive. The trigger was renewed fears for […]

<body.content> <block> <p>PHILADELPHIA, Oct. 1 /PRNewswire/ — Counsel for Class Plaintiffs, Barrack, Rodos &amp; Bacine, today issued the following:</p> <p>A classaction has been commenced in the United States District Court for the Southern District of New York on behalf of […]

ROYAL & SUNALLIANCE, the insurer trying to raise pounds 960m to plug a hole in its reserves, saw its shares plunge yesterday as investors sold their rights to buy new shares in the company. The company’s shares fell sharply for […]

Man Group, the world’s biggest manager of hedge funds, continued its remarkable growth, forecasting a 40% rise in under- lying earnings this year. Stanley Fink, chief executive, estimated Man hadmore than $30bn (pounds 18bn) under management and forecasts it will […]

WHEN ROYAL & SunAlliance announced a pounds 1bn rescue rights issue a month ago, I lambasted the company and its advisers for unnecessarily incurring more than pounds 30m in underwriting costs.Given that the issue was deeply discounted, it seemed incredible […]

The government investigation into mutual fund wrongdoing expanded to Alliance Capital Management on Tuesday, and the fallout from the scandal began to spread to retirement plans. Alliance Capital, the 25th-largest fund complex, said it has suspended two executives after finding […]