Reuters - Money

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Friday, November 3, 2017

New SEC guidance could raise bar for some shareholder measures

BOSTON (Reuters) - Companies may have new grounds to keep shareholder proposals on social or ethical matters from coming to a vote at their annual meetings under guidance published late on Wednesday by the U.S. Securities and Exchange Commission.

Republican tax plan would deal financial hit to U.S. universities

WASHINGTON (Reuters) - The Republican tax plan unveiled on Thursday stirred anger at U.S. universities, which said its proposals to tax endowments of private institutions and repeal a deduction for student-loan interest payments would hurt institutions and students.

Near miss on 401(k) tax grab marks a new low for U.S. retirement policy

CHICAGO (Reuters) - U.S. Republican lawmakers came close to staging a damaging raid on retirement savers this week to pay for a massive tax cut for corporations and the wealthy. Their recklessness brings to mind that old saying - "This is no way to run a railroad." But in this case, using that expression would be grossly unfair to incompetent railroad managers.

U.S.-based stock funds take in most cash since May: Lipper

NEW YORK (Reuters) - Reluctant investors warmed to stocks in October, stockpiling $19.3 billion in U.S.-based equity funds, marking the first month of positive inflows for the funds since May, when they took in $31.8 billion, Lipper data showed on Thursday.

New York regulator to quiz senior Barclays staff over whistleblowing scandal: source

NEW YORK/LONDON (Reuters) - New York state's banking regulator will be interviewing senior Barclays executives from New York and London over a whistleblowing scandal in the coming weeks, a source familiar with the situation said.

Mercer steps down from helm of $50 billion hedge fund

BOSTON (Reuters) - Hedge fund manager Robert Mercer, a major backer of conservative causes, said on Thursday he plans to step down as co-chief executive of hedge fund firm Renaissance Technologies and will sell his stake in right-wing news outlet Breitbart News to his daughters.

Investors parse impacts on multinationals from House tax bill

NEW YORK/SAN FRANCISCO (Reuters) - A U.S. Republican tax bill unveiled on Thursday offers big multinational companies more benefits than minuses, and could free up extra cash for investments, dividends or improving balance sheets.

Pimco Income Fund hits $102.4 billion in assets under management

NEW YORK (Reuters) - Pimco Income Fund, run by group Chief Investment Officer Dan Ivascyn, reached $102.4 billion in assets under management (AUM) as of the end of October, Pacific Investment Management Co said late Thursday.

TransferWise raises $280 million from Old Mutual, IVP and others

NEW YORK (Reuters) - London-based startup TransferWise has raised $280 million in a funding round led by asset manager Old Mutual Global Investors and Silicon Valley venture capital firm IVP.

Employee stock funds loom large in close proxy battles

BOSTON (Reuters) - ADP Inc's decision in 2015 to liquidate an employee stock fund with nearly 5 million company shares could undermine the payroll processor's efforts to defeat hedge fund manager William Ackman in a bitter proxy battle.