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Thursday, October 19, 2017

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.

ADP is already making changes Ackman wants: CEO

NEW YORK (Reuters) - Automatic Data Processing Inc is already making many of the changes activist shareholder William Ackman is advocating, but it will take time to see results, Chief Executive Officer Carlos Rodriguez said in an interview on Wednesday.

Lofty Align Tech shares may rise more on U.S. tax cut, index inclusion

NEW YORK (Reuters) - Prospects for steep U.S. tax cuts are raising the ceiling for already-frothy shares of Wall Street-favorite Align Technology Inc even as patents expire for some of the technology that has helped its braces gain favor with orthodontists.

Fund investors wary of greed amid U.S. stock rally

NEW YORK (Reuters) - U.S. fund investors stockpiled more cash abroad and in bonds during the latest week, Investment Company Institute data showed on Wednesday, resisting the temptation to chase further returns from a bull market that has lasted the better part of a decade.

Deductibles hold the key to the best health plan picks

NEW YORK (Reuters) - As you pick health insurance during open enrollment at work this fall, you will probably be spared the painful premium increases that shocked American families earlier this decade.

Q&A: Jewel learned her life lessons from nature, books and pain

NEW YORK (Reuters) - Jewel's rise in the music world from the Alaska frontier to first-name-only star is almost unbelievable: Girl endures an abusive environment, becomes homeless - and then not only survives, but reaches the pinnacle of her profession.

George Soros foundations now control $18 billion: reports

NEW YORK (Reuters) - Investor George Soros has transferred about $18 billion, the majority of his estimated fortune, to his Open Society Foundations, making them the second largest philanthropic grant-making group in the United States, according to media reports on Tuesday.

Ackman, ADP board nominees to discuss plans for company Thursday

(Reuters) - Activist investor William Ackman's dissident director candidates for board seats at Automatic Data Processing Inc will answer questions about their plans for the company on Thursday ahead of November's proxy vote.