Wednesday 6 June 2018

Wells Fargo pulls back from U.S. Midwest, selling 52 branches to Flagstar

Wells Fargo pulls back from U.S. Midwest, selling 52 branches to Flagstar

(Reuters) - Wells Fargo & Co is pulling back from retail banking in the U.S. Midwest, selling all of its branches in three states, as the bank embarks on a broader review of branch profitability across the country.

OppenheimerFunds, Carlyle launch new private credit interval fund

NEW YORK (LPC) - OppenheimerFunds, the asset manager that oversees about US$249bn, has launched a private debt interval fund in partnership with US private equity firm Carlyle Group, to bring retail investors access to less liquid alternative strategies.

SEC fines New York firm deVere $8 million over UK pension advice conflicts

NEW YORK (Reuters) - The New York investment adviser deVere USA Inc agreed on Monday to pay an $8 million civil fine to settle U.S. Securities and Exchange Commission charges it failed to disclose conflicts of interest to hundreds of clients with UK pensions.

U.S. hedge fund Hudson Bay to open London office: sources

LONDON (Reuters) - U.S. hedge fund Hudson Bay Capital is opening an office in Britain to expand its European trading book, two sources told Reuters on Tuesday.

Employers help pay student loans to attract workers

NEW YORK (Reuters) - For public relations manager Maggie McCuen, having help from her job to repay student loans is not priceless - it is worth every tangible penny of the $1,416 her company has added to chip away at her loan balance since December 2016.

Pershing Square's Fraidin to join Cadwalader as M&A lawyer

BOSTON (Reuters) - Stephen Fraidin, a prominent mergers lawyer who has been a top executive at billionaire investor William Ackman's hedge fund, is joining law firm Cadwalader, Wickersham & Taft LLP.

The rise of the apprentice: a European tradition comes to the U.S

NEW YORK (Reuters) - The growing number of apprenticeships in the U.S. has more to do with European companies importing the practice into their American operations than with the long-running NBC television reality show and its former host who now lives in the White House.

Insurer Lincoln National could see upside: Barron's

NEW YORK (Reuters) - U.S. insurer Lincoln National Corp could deliver shareholder returns of 20 percent or more in the coming year, as the market for the company's main product, variable annuities, recovers, Barron's reported.

All the right notes: First jobs of famous musicians

NEW YORK (Reuters) - Without music, life would be a mistake, according to the German philosopher Friedrich Nietzsche.

Why U.S. retirees are waiting longer to claim Social Security

CHICAGO (Reuters) - Fewer Americans are asking Social Security to "show me the money" as soon as possible.

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