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Friday, October 20, 2017

Ackman urges ADP to consider acquiring Ceridian amid proxy fight

BOSTON (Reuters) - Activist investor William Ackman, currently battling for board seats at Automatic Data Processing Inc , on Thursday said the human resource software company should buy rival Ceridian, in a move that could woo customers with a better product.

Column: With U.S. elder abuse in spotlight, a look at guardians

CHICAGO (Reuters) - Are unsuspecting seniors around the United States being scooped up without warning from their homes, placed in nursing homes and having their possessions taken away?

Third Point takes stake in Dover Corp, urges changes: letter

BOSTON (Reuters) - Billionaire investor Daniel Loeb's hedge fund Third Point LLC bought a stake in Dover Corp during the third quarter and is urging the industrial conglomerate to sell off its energy business among other things.

Fidelity retirement funds warm to Canada, cool to emerging markets

BOSTON (Reuters) - Fidelity Investments has cut exposure to red-hot emerging markets stocks in its age-based retirement funds while putting more money into Canadian stocks and U.S. government bonds.

U.S. fund investors regain risk appetite as Dow breaches 23,000

NEW YORK (Reuters) - U.S. fund investors regained an appetite for risk over the last week, rushing into U.S. and emerging-market stocks, according to data on Thursday from Lipper.

E*Trade to buy custody firm in growth push as profits remain dull

NEW YORK (Reuters) - E*Trade Financial Corp plans to spend $275 million to acquire a firm that provides custody services and technical support to financial advisers, the discount brokerage firm said on Thursday.

LPC: JDA, Surgery Partners add flexibility for future without Libor

NEW YORK (Reuters) - Companies are preparing for a future without a crucial lending benchmark, adding language to their leveraged loan documents that allow them to choose an alternative rate, sometimes without input from lenders.

Exclusive: Baupost's Klarman resists calls to wipe out Puerto Rico debt

BOSTON (Reuters) - Billionaire investor Seth Klarman on Wednesday resisted calls for Puerto Rico's debt to be wiped out and said the island's residents will be better off in the long run if obligations are honored.

Kenneth Chenault to step down as AmEx CEO after nearly 17 years

(Reuters) - American Express Co said its chairman and chief executive Kenneth Chenault would step down early next year, ending a nearly 17-year tenure at the helm of the No. 1 U.S. card issuer by spending.

New ETF has robots pick investments

The AI Powered Equity Exchange-Traded Fund , which launched in the United States on Wednesday, will use IBM Corp's Watson artificial intelligence technology to pick several dozen stocks with potential to beat the market, the fund's backers say.