Latest Investment management News
Smaller investors face down hedge funds, as GameStop soars
NEW YORK (AP) — A head-scratching David and Goliath story is playing out on Wall Street over the stock price of a money-losing video game retailer. An army of smaller-pocketed, optimistic investors is throwing dollars and buy orders at the stock of GameStop — in direct opposition to a group of...
Shakira sells music publishing rights to UK company
NEW YORK (AP) — The Board of Hipgnosis Songs Fund Limited, a U.K.-based investment company, has acquired 100% of Grammy-winning superstar Shakira’s music publishing rights. Hipgnosis made the announcement Wednesday. Shakira’s catalog includes 145 songs, including “Hips Don’t...
Chunky bootmaker Dr. Martens to sell shares to public
LONDON (AP) — The maker of Dr. Martens boots, the chunky-soled footwear once championed by rebellious young people but now favored by celebrities like Rihanna, plans to sell shares to the public as the existing owners seek to profit from growth of the iconic brand. Dr. Martens Ltd. said Monday that current...
Asian shares track Wall St rally on hopes for stimulus
Shares rose in Asia on Thursday after Wall Street rallied on expectations of more stimulus for the economy, despite chaotic scenes in Washington as Trump supporters stormed the U.S. Capitol. As Congress reconvened after disruptions to the process for recognizing the outcome of the U.S. presidential election,...
UnitedHealth to pay nearly $8B for technology company Change
UnitedHealth Group will spend nearly $8 billion in cash to add a health care technology company to its growing Optum business. UnitedHealth said Wednesday that it will add Change Healthcare to its OptumInsight segment and boost its ability to provide data analytics and revenue cycle management support, among...
Former head of China state asset firm sentenced to death
BEIJING (AP) — The former head of state-owned China Huarong Asset Management Co. Ltd. was sentenced to death Tuesday for bribe taking in one of the harshest punishments for economic crimes in recent years. Lai Xiaomin, 58, was also found guilty by the Second Intermediate People’s Court of Tianjin...
Painful as it was, patience paid off for investors in 2020
NEW YORK (AP) — Good things came to fund investors who waited in 2020. But, what a terrifying wait it was. Mutual funds and exchange traded funds of all stripes delivered strong annual returns, even better than usual. Consider the largest fund by assets, a core holding of many 401(k) accounts....
Lawyers seek relief for 'broken' convicted philanthropist
NEW YORK (AP) — Once worth nearly a billion dollars, opera-loving philanthropist Alberto Vilar is seeking financial relief from what his lawyers describe as a destitute existence following his 2018 release from prison. Vilar's lawyers told a Manhattan federal judge in a letter Thursday that Vilar is...
Australian firm to buy Kansas-based Waddell & Reed
OVERLAND PARK, Kan. (AP) — Waddell & Reed Financial, a Kansas investment and wealth management company, will be sold to an Australian firm for $1.7 billion. Macquarie Asset Management, an arm of Australia’s Macquarie Group, announced late Wednesday that it will buy all outstanding shares of...
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