Big problem for fund managers: liking Apple too much
NEW YORK (Reuters) – At more than 15 percent of his fund’s assets, John Burnham, manager of the $136 million Burnham Fund, has a larger stake in Apple Inc than any other diversified fund.
Weak euro powers European stocks to new highs
LONDON (Reuters) – The euro struck a fresh 12-year low on Monday and euro zone stocks reached new peaks on bets that the currency’s relentless fall will boost corporate earning prospects just as the rising dollar hits those of U.S. firms.
Boeing production czar says planemaker won’t repeat errors
SEATTLE (Reuters) – Boeing Co is well-positioned to hit record production targets for its popular 737 jetliner by 2018, having learned from past mistakes, the head of its industrial system told Reuters.
Standard Chartered adds three advisors to financial crime risk panel
LONDON (Reuters) – Asia-focused bank Standard Chartered named a former president of Interpol and two other people as external advisors to its financial crime risk committee on Monday.
China consumer show targets Volkswagen, Nissan, Mercedes
SHANGHAI (Reuters) – Car makers, including Volkswagen AG , Nissan Motor Co and Daimler AG’s Mercedes Benz, said they are probing allegations aired late on Sunday by Chinese state TV that the firms oversold repairs and spare parts to drivers.
Activist investor Elliott seeks boardroom shakeup at Alliance Trust
LONDON (Reuters) – Activist Elliott Advisors, the largest individual shareholder in Alliance Trust PLC , is seeking support from fellow investors for a boardroom reshuffle following a phase of unsatisfactory engagement with executives over poor perform…
KKR, Varde, Deutsche seek to securitize $5.3 billion of GE Capital debt: sources
SYDNEY (Reuters) – A group comprising KKR & Co, Varde Partners and Deutsche Bank are looking to securitize about A$7 billion ($5.33 billion) of debt they acquired from a unit of GE, three sources with knowledge of the matter said.
Greek finance minister says liquidity problems ‘insignificant’: German TV
FRANKFURT (Reuters) – Greece’s liquidity problems are “insignificant”, the country’s finance minister said on German television on Sunday, pledging that the Greek government would take all steps necessary to repay its debts.
Tesla to reveal software update for Model S range on Thursday
(Reuters) – Tesla Motors Inc will present a software update to its Model S vehicle at a news conference on Thursday that is designed to quell fears that drivers will run out of power for their cars, company Chief Executive Elon Musk said on Sunday.
Investors in ‘patient panic’ over Fed language
U.S. stock markets are in the midst of a “‘patient’ panic” ahead of Wednesday’s Federal Reserve statement, when many investors expect a change in the Fed’s language that would send the clearest signal yet that a rate hike is coming soon.
