BOSTON (Reuters) – BNY Mellon Corp, the world’s largest custody bank, said on Friday it began earlier this month charging clients 0.20 percent on euro-denominated deposits that recently totaled about $33 billion.
BNY Mellon initiated the charge on Oct. 1, reflecting a recent move by the European Central Bank to charge 20 basis points on deposits in hopes of persuading banks to lend more money to businesses and consumers.
CHELSEA Mass (Reuters) – A third of the 37,000 people in this dense township near Boston didn’t graduate from high school, nearly half were born outside the United States and few own their own homes.
But it was here that Federal Reserve Chair Janet Yellen came on Thursday for insight on the U.S. economy, quizzing town officials and residents at a non-profit organization about the state of affairs in one working-class neighborhood.
BOSTON (Reuters) – Abigail Johnson has taken another big step toward being the next leader of Fidelity Investments after the company said she will add the title of chief executive to her duties.
Johnson already had day-to-day control over operations that include mutual funds, an online brokerage and the biggest U.S. administrator of 401(k) retirement plans.
NEW YORK/BOSTON (Reuters) – Fidelity Investments, the largest shareholder in Actavis Plc (ACT.N: Quote, Profile, Research, Stock Buzz), has increased its holdings in takeover-target Allergan (AGN.N: Quote, Profile, Research, Stock Buzz) in recent months and would be supportive of a potential merger between the two drugmakers, according to people familiar with the matter.
The Boston-based investment firm, which collectively owned 3.88 million Allergan shares through several of its funds as of end-June, had added roughly 2 million shares by the end of August, according to Thomson Reuters data based on Fidelity’s monthly filings.
NEW YORK/BOSTON, Oct 10 (Reuters) – Fidelity Investments,
the largest shareholder in Actavis Plc, has increased
its holdings in takeover-target Allergan in recent
months and would be supportive of a potential merger between the
two drugmakers, according to people familiar with the matter.
The Boston-based investment firm, which collectively owned
3.88 million Allergan shares through several of its funds as of
end-June, had added roughly 2 million shares by the end of
August, according to Thomson Reuters data based on Fidelity’s
BOSTON, Oct 9 (Reuters) – Fidelity Investments on Thursday
launched three bond exchange-traded funds that are actively
managed as the company seeks to capitalize on the army of
analysts, traders and portfolio managers that support its more
established mutual funds.
Fidelity’s Total Bond ETF, Limited Term Bond ETF
and Corporate Bond ETF will begin trading
Thursday morning on the New York Stock Exchange. Each of the
ETFs will have an expense ratio of 0.45 percent, the
Boston-based company said.
BOSTON (Reuters) – A man who says he was too high to remember the removal of a backpack from the college dorm room of the Boston Marathon bombing suspect was alert enough to win a video game that same night, a key prosecution witness testified on Wednesday.
Azamat Tazhayakov, 20, recounted how he lost an Xbox NBA video game to his friend Robel Phillipos, before they want to the dorm room of bombing suspect Dzhokhar Tsarnaev.
(Reuters) – Bond star Bill Gross will commence his new gig at Janus Capital Group Inc (JNS.N: Quote, Profile, Research, Stock Buzz) with modest needs – a trader and someone to deal with clients – as he takes over a tiny fund with the hopes of making a big splash.
One unanswered question is whether Gross will have the resources to match the success he had at Pacific Investment Management Co, which he left last week in a surprise move that rattled global bond markets.
BOSTON, Oct 1 (Reuters) – Vanguard Group’s global bond chief
said Wednesday the company has tightened controls at some of its
long-term bond funds to screen out “hot money” amid heavy cash
outflows from rival Pacific Investment Management Co.
Such controls, such as asking investors how long they plan
to invest their funds, aim to limit the flow of money moving
quickly from one fund to another.
BOSTON, Sept 23 (Reuters) – Harvard University said Tuesday
its $36 billion endowment posted a 15.4 percent return in fiscal
2014 as in-house bond managers and outside hedge funds teamed up
to easily beat the portfolio’s 14.6 percent benchmark return.
The endowment, overseen by Harvard Management Company Inc,
grew to $36.4 billion in the fiscal year ended June 30 from
$32.7 billion. That marked a near-full recovery from losses
posted during the financial crisis.