The Legg Mason Inc unit run by star fund manager Bill Miller sold off a number of financial stocks in the second quarter, filings on Friday showed.
Billionaire Warren Buffett's Berkshire Hathaway Inc reported on Friday a new 1.2 million share investment in Becton Dickinson & Co and an increased stake in Johnson & Johnson , as it boosted exposure to some health-care companies.
Billionaire investor and philanthropist George Soros' Soros Fund Management reported holdings of $4.2 billion at the end of the second quarter after cutting its stake in a number of retailers.
Latin American stocks and currencies posted losses on Friday after U.S. consumer sentiment weakened unexpectedly in August, raising questions about the strength of the economic recovery and increasing global aversion to risk.
BB&T Corp. and the Federal Deposit Insurance Corp. have reached an agreement to take over Colonial BancGroup in Alabama the Wall Street Journal and Bloomberg reported citing anonymous sources. Colonial is Alabama's second-largest bank with $26.4 billion in assets and 355 branches in Florida, Alabama, Georgia, Nevada and Texas. The takeover would make BB&T the ninth-biggest U.S. bank by assets.
Private equity firm Blackstone Group LP plans to launch a 5-billion-yuan ($732 million) fund that will primarily invest in the city of Shanghai, the city said in a statement on Friday.
Blackstone's chief executive officer, Stephen Schwarzman, tops the list of top 10 highest-paid executives in the U.S. last year with a staggering package of $702 million according to reports from the Corporate Library.
A landmark settlement that will spare UBS a lengthy and damaging U.S. tax trial is set to be signed next week and will involve the disclosure of the biggest holders of secret Swiss accounts.
Investors lured by healthier stock markets and private equity firms eager to unload stakes in their portfolio companies are setting the stage for the return of billion-dollar-sized initial public offerings to the United States.
BB&T Corp. and the Federal Deposit Insurance Corp. have reached an agreement to take over Colonial BancGroup in Alabama the Wall Street Journal and Bloomberg reported citing anonymous sources.
U.S. Southeast regional bank BB&T Corp will buy deposits and branches of Colonial BancGroup Inc following a move by regulators to take the struggling lender into receivership, media reports said, citing people familiar with the matter.
A former Credit Suisse Group AG broker used bait-and-switch tactics in fraudulently steering corporate clients into risky mortgage investments they did not want, federal prosecutors said on Friday.
The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc into receivership and will sell the struggling lender's branches and deposits to BB&T Corp , Dow Jones said, citing a person familiar with the situation.
The Federal Deposit Insurance Corp is taking Colonial BancGroup Inc into receivership and will sell the struggling lender's branches and deposits to BB&T Corp , Dow Jones said, citing a person familiar with the situation.
Activist investor Carl Icahn is under fire from a hedge fund that accuses the billionaire investor of enriching himself at the expense of minority shareholders in XO Holdings Inc , a company he controls.
U.S. stocks fell more than 1 percent on Friday as investors retreated from a recent rally after data showing weak consumer sentiment fueled doubts about an economic recovery.
Radiation detection provider Mirion Technologies Inc on Thursday became the latest private-equity backed company to file for an initial public offering, as more buyout firms try to unload some of their portfolio companies in the public markets.
Ping An Insurance (Group) Co of China Ltd, the world's No. 2 life insurer by market value, posted a 34 percent jump in second-quarter earnings as China's stock market boom boosted investment returns.
Hedge fund firm Man Group Plc sold its remaining stake in U.S.-listed futures and options broker MF Global in a deal that will earn it an initial $112 million.
Bank of America Corp has promoted Cathy Bessant to president of global corporate banking, as the largest U.S. bank shuffles management in the wake of its acquisition of Merrill Lynch & Co.
For banks looking to seize market share in the lucrative Asian equities business, all eyes are on China.
U.S. stock index futures pointed to a higher open on Friday ahead of key data on inflation and consumer sentiment and quarterly results from major retailer JC Penney .
