Reuters Money: March 29, 2017

Click to View in Browser Wednesday, March 29, 2017 BlackRock cuts fees and jobs; stockpicking goes high-tech NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that highlights how difficult it has become for humans to beat the market. Wells Fargo to pay $110 million to settle lawsuit over account abuses (Reuters) - Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that cost the bank's chief executive his job. SEC denies a second application to list bitcoin product NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the digital currency. Bacardi family spirit: Remember your roots and be frugal NEW YORK (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than 200 brands, including Bombay Sapphire, Grey Goose and Dewar's. Your Money - Being 26: A money checkup for biggest U.S. age group NEW YORK (Reuters) - Callan Olive is about as adult as you can get for a 26-year-old. Morgan Stanley rates Banco BTG Pactual stock 'overweight' SAO PAULO (Reuters) - Grupo BTG Pactual SA's stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-banking and asset management activities remain underpenetrated, analysts at Morgan Stanley & Co said on Tuesday. Citadel rehires Yeh as head of its quant unit BOSTON (Reuters) - Hedge fund Citadel said it is making changes at the top of its global quantitative division by bringing back James Yeh to replace the current head who is retiring. Snap surges after IPO banks give flurry of 'buy' ratings (Reuters) - Shares of Snap Inc jumped nearly 5 percent on Monday after several of the Snapchat owner's IPO underwriters handed it badly needed "buy" ratings. Once golden, Robert Rubin's hedge fund proteges lose some luster BOSTON/NEW YORK (Reuters) - Learning to invest on Goldman Sachs' risk arbitrage desk, made famous by leader Robert Rubin, was once seen as a fast track to fortune. But the band of hedge fund protégés who mastered their trade under the former Wall Street star and U.S. Treasury Secretary have stumbled in recent years. When shareholders join the populist revolt: James Saft (Reuters) - Some day, perhaps soon, the populist revolt will spread to another group badly served in recent decades: shareholders. Related Video Nick Colas on how the jobs report impacts the markets Art Hogan on why the market is in a tug of war Related News Global stocks slip, sterling steadies as Brexit becomes real After crippling cost overruns, Toshiba's Westinghouse files for bankruptcy Counterparties is a curated snapshot of the best finance news and commentary around the web. Register Today A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today » » MORE NEWSLETTERS - 3 Times Square New York, NY 10036 USA © Copyright 2017 Thomson Reuters Ensure delivery of Reuters Newsmails, add newsletters@email.reuters.com to your address book. Subscribe to other Reuters newsletters. Unsubscribe from this newsletter. Follow us on Twitter Friend us on Facebook