Reuters - Money

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Friday, November 17, 2017

China sets sweeping new rules to regulate $15 trillion asset management products

BEIJING (Reuters) - China's central bank on Friday issued sweeping guidelines to tighten rules on asset management business, the latest step by Beijing to fend off systemic risks in the country's rampantly growing shadow banking sector.

Wells Fargo dismisses consumer lending head Franklin Codel

(Reuters) - Wells Fargo & Co has fired its head of consumer lending over an inappropriate interaction with a former team member, the bank said on Friday, the latest bout of upheaval at a lender roiled by scandals over its culture and treatment of customers.

Barnes & Noble says investor's plan to take it private not 'bona fide'

(Reuters) - Barnes & Noble Inc said on Thursday a deal proposed by an activist investor to take the bookstore chain private was not "bona fide" as its chairman and founder, Leonard Riggio, would not participate and raising the required funds was highly unlikely.

Mistrial in NY corruption case against union chief, hedge fund executive

NEW YORK (Reuters) - A U.S. judge on Thursday ordered a mistrial in the corruption case against the former head of New York City's correction officers' union and a co-founder of the now-defunct hedge fund firm Platinum Partners, after jurors said they were deadlocked.

U.S. junk bond funds post fourth-biggest week of outflows ever: Lipper

NEW YORK (Reuters) - U.S. fund investors walloped high-yield funds with their biggest week of withdrawals since March, Lipper data showed on Thursday.

Ex-banker Otting confirmed as U.S. Comptroller of the Currency

WASHINGTON (Reuters) - A former banking executive and associate of U.S. Treasury Secretary Steve Mnuchin was confirmed by the Senate on Thursday to be U.S. Comptroller of the Currency, serving as the leading regulator of national banks.

Killing medical tax break will hammer U.S. middle-class seniors

(The writer is a Reuters columnist. The opinions expressed are his own.)

U.S. fund investors snub domestic stocks

NEW YORK (Reuters) - U.S. investors dashed into funds that buy stocks outside the country at the fastest pace since July, while pulling money out of domestic equities, Investment Company Institute (ICI) data showed on Wednesday.

Ackman sells Air Products, Nomad Foods positions, makes strong profit

NEW YORK (Reuters) - Activist investor William Ackman told his hedge fund clients on Wednesday that he liquidated positions in Air Products and Chemicals Inc and Nomad Foods Ltd, investments that earned them a lot of money.

Trian's Peltz claims win in proxy fight, P&G says not yet

(Reuters) - Activist hedge fund manager Nelson Peltz claimed victory in his fight to win a seat on Procter & Gamble Co's board after a preliminary tally of votes was released on Wednesday, but P&G refused to concede and said it wants to see a certified result before declaring a winner.