Wednesday, 12 May 2021

Reuters Global Investor: BlackRock expands China footprint with wealth management licence

BlackRock expands China footprint with wealth management licence

BlackRock Inc (BLK.N) has received a licence in China for a majority-owned wealth management venture, expanding its footprint in the country's fast-growing asset management market.

What happened when a U.S. state required details on corporate diversity

Aerospace company Boeing Co (BA.N) was explicit, naming who among its dozen directors were women, Asian and African American. Agricultural giant Archer Daniels Midland Co (ADM.N) offered a more general accounting, saying its board was 55% diverse.

Global big banks plot back-to-office plans as vaccines roll out

The biggest banks in the world plan to re-open their offices, emboldened by aggressive vaccination drives and falling case numbers in major financial hubs, after sending most employees home early last year to help stem the spread of the virus.

Investor Legal & General backs activist in Exxon proxy battle

Britain's biggest asset manager, Legal & General, on Tuesday said it will vote for an activist hedge fund's board slate at Exxon Mobil's (XOM.N) shareholder meeting later this month, fueling a pitched fight over the oil major's future.

Activist Honest Capital opposes $2.8 bln sale of At Home Group

Hedge fund Honest Capital said on Tuesday that it opposes a $2.8 billion deal that At Home Group Inc (HOME.N) signed last week to sell itself to private equity firm Hellman & Friedman, even as the U.S. home goods retailer searches for a higher bid.

Bitcoin's march towards the mainstream

Bitcoin hit a record high just shy of $65,000 last month, the latest landmark on its march to wider acceptance. A growing embrace by major companies and financial firms, particularly in the United States, have fuelled its gains.

Britain lowers NatWest stake with $1.5 billion share sale

The British government has completed the sale of 1.1 billion pounds ($1.55 billion) in shares of NatWest (NWG.L), lowering its stake to below 55% in the lender it bailed out over a decade ago.

EXCLUSIVE Lufthansa aims for 3 bln euro capital increase to repay bailout - sources

Lufthansa (LHAG.DE) is working with Deutsche Bank (DBKGn.DE) and Bank of America (BAC.N) to sound out investors about a capital increase worth roughly 3 billion euros ($3.7 billion), possibly as soon as June, people close to the matter said.

Fund managers see value, cyclical stocks running further despite slow U.S. jobs recovery

While some technology stocks got a boost Friday after a disappointing U.S. jobs report, some portfolio managers say that blow-out earnings from several large technology companies over the last few weeks are not enough to keep making outsized bets on the sector.

Investor group pushes Exxon board for new leadership to challenge CEO

An investor group on Thursday called on Exxon Mobil's (XOM.N) board to recruit directors and senior executives with energy and clean fuels experience, echoing calls at the center of an ongoing proxy fight.

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