Australia's CBA hit with lawsuit over pension investments

Reuters.com Newsletter

Australia's CBA hit with lawsuit over pension investments

Law firm Slater & Gordon Ltd has filed a class-action suit against Commonwealth Bank of Australia seeking damages of more than A$100 million ($71 million) after the bank allegedly invested the retirement savings of thousands of customers into low, uncompetitive interest-returning products.

Wall Street dealers absorb rising U.S. Treasury supply

Wall Street's bond firms are sopping up a growing amount of Treasury debt as the U.S. government seeks to fund a rising budget deficit stemming from the massive tax cut enacted last December, Treasury Department data released on Tuesday showed.

Ackman's Pershing Square unveils $900 million stake in Starbucks

William Ackman said on Tuesday his activist hedge fund Pershing Square Capital Management LP has built a roughly $900 million position in Starbucks Corp , betting the world's biggest coffee chain can overcome stagnant sales in its home market.

Your Money: When strangers spill their financial secrets

One recent Monday night in New York City, seven strangers sat around a dinner table sharing the biggest money secrets of their lives.

Canada's CDPQ, Al Gore's Generation buy majority stake in fintech firm FNZ

Canada's second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion pounds ($2.09 billion).

Australia's CBA to refund fees to dead client accounts in inquiry fallout

Commonwealth Bank of Australia said on Tuesday it will refund fees taken out of dead client accounts and unwind a controversial system of charging customers commissions on financial products.

Column: Unfazed by record short U.S. bonds position, hedge funds gun for 3.50 percent - McGeever

Hedge funds may have trimmed their record bet against U.S. Treasuries, as the latest data show, but the 10-year yield's spike to fresh multi-year highs in the days since suggests that short position will now be even greater.

Column: How to create a healthcare safety net for retirement

(This version of the October 3 column was refiled to correct "Has" to "HSA" in paragraph 5)

Related Videos

Why your next glass of wine might be English

Google+ shuts down after user data leak

Introducing the all-new
Reuters News app

The new Reuters News app is here, redesigned from the ground up to fit your busy life.

Get it now on iOS