Gross’ sudden Pimco exit may quicken outflows to rivals
Bill Gross, who built Pimco into a $2 trillion asset manager and became one of the world’s best-known bond investors, quit the firm he co-founded on Friday after his flagship fund suffered its 16th straight month of outflows and amid a Securities and E…
Exclusive: DoubleLine’s Gundlach says met with Gross on role at his firm
NEW YORK (Reuters) – Jeffrey Gundlach, who runs bond firm DoubleLine Capital, an investment firm that has been a major competitor of Pimco, told Reuters on Friday that he and Bill Gross met last week to discuss a possible role for Gross at DoubleLine.
Exclusive: Plan for U.S. securities audit trail seen delayed again
NEW YORK (Reuters) – U.S. exchange officials are seeking more time to submit a plan for building a massive database for storing all equity and options transactions, a project designed to better monitor trading activity that took on urgency after the Fl…
GM’s Opel says compact cars need checks for faulty steering
FRANKFURT (Reuters) – General Motor’s Opel business said on Friday that 8,000 of its Adam and Corsa compact cars delivered to customers in Europe since May 2014 need to be checked for faulty steering parts.
Activist investor takes stake in Yahoo, urges AOL combination
SAN FRANCISCO (Reuters) – Activist investor Starboard Value LP said on Friday it has acquired a significant stake in Yahoo Inc and urged the struggling Internet company to cut costs, monetize its Asian assets and seek a “strategic combination” with AOL…
Ivascyn to be new Pimco chief investment officer: source
(Reuters) – Pimco’s Deputy Chief Investment Officer Daniel Ivascyn is expected to succeed Bill Gross as the new chief investment officer of the giant bond fund, after Gross’ departure, a source familiar with the situation said.
BlackBerry cuts loss and sees rising sales; shares jump
TORONTO (Reuters) – BlackBerry Ltd reported a smaller quarterly loss on Friday and flashed encouraging signals about its hard-pressed smartphone business as well as its software and services sales, spurring a 7 percent jump in its shares.
China official PMI seen steady at 51.2 in September but pressures remain
BEIJING (Reuters) – Growth in China’s manufacturing sector probably steadied in September as factory orders held up, a Reuters poll showed, providing some welcome relief for those who worry the Chinese economy is quickly losing steam.
Bank stocks, seen as cheap, still attract caution
NEW YORK (Reuters) – U.S. stock investors, despite finding few areas of the market that appear cheap with indexes near records, appear reluctant to jump into what could be the biggest bargain out there.
Apple says ‘Shellshock’ no risk to vast majority of Mac users
BOSTON (Reuters) – Apple Inc said the vast majority of Mac computer users are not at risk from the recently identified “Shellshock” computer bug, which security experts have warned affect operating systems, including Mac’s OS X.
