Compensation pledge as funds tighten security after data hack claims

Australians who have had their super accounts drained by crime gangs will be fully compensated as some of the country's biggest funds ramp up cyber-security in the wake of an alleged $10 million international identity theft scam. It was revealed on Wednesday that several of Australia's largest funds had been affected by the alleged fraud when police charged 21-year-old Melbourne […]

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Climate change pushes U.S. fund managers to bet on AC makers

NEW YORK (Reuters) – Record heatwaves in Europe and Asia this summer are leading fund managers to buy shares of air conditioning manufacturers, betting that the public health risks of rising temperatures will compel businesses and apartment building owners to install cooling systems. Shares of Johnson Controls International Plc, United Technologies Corp, and Ingersoll-Rand Plc, are all up 25% or […]

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Trump looking at possible tax cuts amid economic jitters

WASHINGTON (Reuters) – President Donald Trump said on Tuesday his administration was considering potential tax cuts on wages as well as profits from asset sales, and sought to play down market anxieties that the world’s top economy could be heading for a recession. Speaking to reporters during a White House visit by Romanian President Klaus Iohannis, Trump said “we’re looking […]

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'Perfect environment' seen keeping gold above $1,400/oz in 2020: Reuters poll

LONDON (Reuters) – Lower interest rates and resurgent investor and central bank buying are expected to help gold prices cement recent gains and hold above $1,400 an ounce next year, but silver is seen struggling to catch up, a Reuters poll showed on Thursday. Fears about the health of the global economy have sent investors flooding to bullion, traditionally seen […]

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UPDATE 1-Hsu will join Gundlach as co-manager of DoubleLine Total Return Bond Fund

(Adds DoubleLine declined to comment, byline) By Jennifer Ablan July 29 (Reuters) – Andrew Hsu, who heads the global infrastructure and asset-backed securities (ABS) group at Jeffrey Gundlach’s DoubleLine Capital, will join Gundlach and Philip Barach as co-manager of the DoubleLine Total Return Bond Fund, an SEC filing said on Monday. The addition of a co-portfolio manager at DoubleLine Total […]

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