Latest Investment management News

Parsley Energy, Blackstone Group fall; Aecom rises

Oct. 14, 2019 4:39 PM EDT

NEW YORK (AP) — Stocks that moved substantially or traded heavily on Monday. Parsley Energy Inc., down $1.79 to $15.18 The oil and gas company is buying Jagged Peak Energy in an all-stock deal. Aecom, up $2.34 to $39.50 The provider of technical and management-support services is considering selling its...

Joe Biden's son Hunter stepping down from Chinese board

Oct. 14, 2019 1:08 PM EDT

NEW YORK (AP) — Facing intense scrutiny from President Donald Trump and his Republican allies, Hunter Biden says he will step down from the board of directors of a Chinese-backed private equity firm at the end of the month as part of a pledge not to work on behalf of any foreign-owned companies should his...

Michigan ends pension contract over investor's comments

Oct. 14, 2019 1:03 PM EDT

LANSING, Mich. (AP) — The state of Michigan's retirement systems have ended a contract with an investment company that managed more than $600 million in pension funds after the CEO made "completely unacceptable" comments at a conference. The Michigan Department of Treasury's Bureau of Investments fired...

The Latest: Joe Biden lays out ethical markers should he win

Oct. 13, 2019 7:18 PM EDT

WASHINGTON (AP) — The Latest on Hunter Biden, son of Democratic presidential candidate Joe Biden (all times local): 7 p.m. Joe Biden is laying out some ethical markers should he become president. He says that in a Biden White House, his family members would not be allowed to have any business relationships...

Hunter Biden to step down from Chinese board

Oct. 13, 2019 6:36 PM EDT

NEW YORK (AP) — Facing intense scrutiny from President Donald Trump and his Republican allies, Hunter Biden said Sunday he will step down from the board of directors of a Chinese-backed private equity firm at the end of the month as part of a pledge not to work on behalf of any foreign-owned companies...

China announces timetable for opening finance industries

Oct. 11, 2019 7:51 AM EDT

BEIJING (AP) — China announced a timetable Friday for carrying out a promise to allow full foreign ownership of some finance businesses, starting with futures traders on Jan. 1, as Beijing tries to make its slowing economy more competitive and efficient. Ownership limits will be ended for mutual fund...

Insider Q&A: Venturing in the Midwest with a VC founder

Oct. 7, 2019 2:21 PM EDT

SAN FRANCISCO (AP) — Jan Garfinkle is not your typical VC founder, and not just because she's a rare woman running a venture capital firm she founded nearly two decades ago. Though she hails from the Bay Area, she started Arboretum Ventures, a health care VC firm, in Ann Arbor, Michigan. She also serves as...

Big money urges governments to tackle climate change

Sep. 19, 2019 12:47 AM EDT

A group of more than 500 major institutional investors called Thursday for governments to boost efforts to tackle climate change, warning that failure could have serious economic consequences. The banks, insurance companies and pension funds said in a joint statement ahead of next week's U.N. climate summit in...

UK blocks aerospace takeover by US investor over security

Sep. 18, 2019 8:29 AM EDT

LONDON (AP) — The British government is halting the takeover of a U.K. aerospace company by a U.S. private equity firm to assess whether it affects national security. Business Secretary Andrea Leadsom said Wednesday that the competition watchdog would look into the security implications of the sale of...

Kraft Heinz shares fall after key investor dumps holdings

Sep. 17, 2019 11:04 AM EDT

NEW YORK (AP) — Kraft Heinz Co. shares are sliding after one of the company's top investors sold 25 million shares. 3G Capital — a Brazilian private equity firm — reduced its stake in the company by 9%. 3G remains the company's second-largest shareholder. 3G partnered with Berkshire Hathaway...