Tuesday, December 15, 2020

State Street exploring options for asset management arm -Bloomberg News

State Street exploring options for asset management arm -Bloomberg News

(Reuters) -U.S. custodian bank State Street Corp is exploring options for its asset management business, including a merger with a competitor, as it seeks to gain scale, Bloomberg News reported on Friday, citing people familiar with the matter.

U.S. Labor Department finalizes limits on pension-fund voting on corporate proxies

The U.S. Department of Labor on Friday finalized a rule requiring pension funds to vote on shareholder proposals only when there is an economic reason, a change that would curb investors from casting their ballots on many corporate proxies.

Bank of America to join the Netherlands as a primary dealer in 2021: DSTA

Bank of America will join the Netherlands as a primary dealer in 2021, the Dutch State Treasury Agency said on Friday in its outlook for next year.

BofA says its clients increase equity allocation to near record levels

BofA said on Friday that its wealth management clients further increased allocation to equities in their portfolios last week, closing in on the record levels seen in March 2015, as they prepare for stronger returns in 2021.

Brexit: Morgan Stanley sees FTSE 250 down as much as 10% on no deal

Morgan Stanley said on Friday that it expects the FTSE 250 index to drop 6% to 10% if Britain fails to agree a trade deal with the European Union before the end of a transition period.

From romance scams to phantom PPE, banks battle coronavirus crimewave

Fraud risk analyst Rajendran Raj was used to the odd out-of-hours alert from authorities, but a call one Saturday in March heralded a new era, of tackling criminals seeking to cash in on coronavirus.

U.S. stock funds shed $7.7 billion, ending four-week inflow streak -Lipper

U.S.-based equity funds posted a $7.7 billion net outflow in the latest week, ending a four-week streak of inflows, according to Lipper.

Trust, equity and sustainability: VMware's Gelsinger on a 2030 Agenda

"Your generation has accomplished extraordinary things. But did you have to bankrupt this planet?"

Alkermes lifts shares with plan after Elliott pressure

Biopharmaceutical company Alkermes responded to pressure from activist investment firm Elliott Management on Thursday with a broad plan designed to boost returns.

Morgan Stanley to shift $120 billion to Germany in post-Brexit move: source

Morgan Stanley is planning to shift around 100 billion euros ($121 billion) in assets to Frankfurt from Britain next year as a consequence of Brexit, a person with knowledge of the matter said on Thursday.

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