Hedge fund manager Marko Dimitrijevic is closing his largest hedge fund, Everest Capital's Global Fund, having lost almost all its money after the Swiss National Bank (SNB) scrapped its three-year-old cap on the franc against the euro, Bloomberg news reported on Saturday.
Investors
Who's afraid of China's economy slowing? Not Alibaba's Jack Ma
Jack Ma, executive chairman of Chinese e-commerce giant Alibaba Group Holding, isn't worried about slowing Chinese economic growth, he told a meeting of business and political leaders in Davos, Switzerland.
Wall Street falls on miners, UPS; indexes up for week
U.S. stocks fell modestly on Friday, pressured by underwhelming corporate news including guidance from economic activity bellwether UPS and as materials stocks fell after bearish notes.
Asia equities surge on ECB boost, euro near 11-year low
Asian stocks extended a global rally on Friday after the European Central Bank launched a landmark bond-buying stimulus program that buoyed investors' risk appetite, drove bonds higher and kept the euro pinned near 11-year lows.
Japan to study impact of falling interest rates on mortgage lenders: sources
Japan's financial regulators are set to investigate the financial soundness of banks' mortgage operations as a further decline in interest rates threatens to squeeze margins, sources familiar with the plan said this week.
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The chief executive of Deutsche Bank's (DBKGn.DE) retail arm Postbank (DPBGn.DE) strongly advocates having Deutsche sell a large portion of Postbank's shares on the stock market rather than to another bank, a German magazine reported on Saturday.
The Obama administration is asking Wall Street to explain why the yields investors are demanding to compensate them for inflation have dropped since August, the U.S. Treasury said on Friday.
Citigroup Inc said its quarterly profit dropped 86 percent, hurt by legal settlements and falling bond trading revenue, sending the bank's shares down more than 4 percent.
Goldman Sachs Group Inc (GS.N) reported a 7 percent drop in fourth-quarter profit as sharp market moves in December hit its bond-trading business.
Asian shares stumbled on Friday and the dollar skidded against the safe-haven yen after Switzerland's central bank unexpectedly scrapped its currency cap - jolting markets already roiled by plunging commodities prices.
Asian stocks mostly edged up on Thursday after a significant rebound in oil and copper prices brought a semblance of calm, while the dollar regained ground lost on disappointing U.S. retail sales.
Senior executives at JPMorgan Chase & Co (JPM.N) are pressuring managers across the bank to cut costs, after disappointing revenue growth has hurt profits, a person familiar with the matter told Reuters on Wednesday.
Mexican billionaire Carlos Slim has become the largest shareholder of New York Times Co (NYT.N) after exercising warrants to double his stake in the publisher to 16.8 percent.
U.S. stocks slumped shortly after the opening bell on Wednesday to extend recent declines, as worries over weak economies globally continued to pressure commodities and as U.S. retail sales for December fell short of expectations.
