Discovery Capital Management LLC, the fund of separately managed accounts firm that was last year acquired by Direct Access Group LLC, plans to add as many as five emerging managers for allocations by year end, according to Donald Motschwiller, a partner at the New York-based firm. Click here to continue reading.
Municipal-bond investors are among the biggest losers from the Justice Department’s suit to block a planned $11.5 billion merger between US Airways Group Inc. and AMR Corp., parent of American Airlines. Click here to continue reading.
Currency traders should be paying more attention to the middle and the long end of the U.S. Treasury curve than the short end. To continue reading click here
by Elizabeth Krutoholow Total knee replacement surgery is a cost-effective treatment and should not be restricted for appropriate patients by payers looking to save money as demand for the procedure increases, said Dr. Joshua Jacobs, president of the American Academy of Orthopaedic Surgeons. This rise in demand is driven by the fact that total knee [...]
U.S. investors are increasingly losing attractive terms on structured notes as banks redeem more of the securities this year because of their improving health and soaring stock markets. Issuers have called $5.74 billion of notes in 2013, 42 percent more than the $4.05 billion through the same period last year, according to data compiled by [...]
Investors’ insistence on a yield 14 times higher than the AAA benchmark on $92 million of Detroit school notes is the latest example of bond market contempt for Michigan after the city’s bankruptcy. Click here to continue reading.
Detroit’s bankruptcy mediator appointed a team of current and former judges to help him settle disputes between the insolvent city and creditors as the parties try to negotiate cuts in about $18 billion of debt. Click here to continue reading.
Investors in Asia face a pending withdrawal of Federal Reserve liquidity and simultaneous stresses in the region’s three largest economies. China is slowing investment to rebalance its economy toward consumption, while Japan is debasing its currency to stoke exports, and India is caught in a vicious circle of weaker investment and growth. Click here to continue reading.
U.K. financial-services firms paid an “unusually high” amount of bonuses in April, the ONS says, as the top rate of income tax was cut that month to 45 percent from 50 percent. Bonus payments in finance were 1.3 billion pounds in April compared with 600 million pounds a year earlier. All bonuses totaled 38.6 billion pounds between 2012 [...]
Entercom Communications Corp. may seek to reduce interest costs on its term loan after Nov. 27, when it no longer has to pay a premium to refinance, according to the company’s chief financial officer. Click here to continue reading