Sectors News Results

  • Correction to Report About Fund Redemption Penalty Wednesday

    Alma Capital, the manager of a fund sub-managed by Selwood Asset Management, has imposed a levy on redemptions from the fund. The subhead of "European Fund's Investors Face Redemption Penalty Amid Losses" at 17:39 ET April 1 incorrectly stated that Selwood imposed the levy. (END) Dow Jones Newswires 04-02-20 1149 ET Copyright (c) 2020 Dow Jones& Company, Inc..

  • UK Watchdog Asks Lenders to Offer Relief to Loan, Credit Card Customers

    The Financial Conduct Authority said Thursday that it is proposing a number of measures aimed at offering relief to loan and credit card customers during the coronavirus pandemic. The British financial regulator said that it will support customers hit by the pandemic through a short-term package for a period of up to three months, asking lenders to offer a temporary payment freeze on loans and credit cards to those who are struggling. Lenders should offer up to 500 pounds at...

  • European Fund's Investors Face Penalty Amid Losses -- Update

    A roughly EUR458 million European mutual fund with investments managed by Alma Capital, the manager of a fund sub-managed by London-based Selwood Asset Management LLP has imposed a levy on shareholders trying to exit from the fund, showing how reduced liquidity in credit markets continues to hurt investors. The credit-focused fund instituted the penalty on redemptions in order to protect shareholders who opt to stay invested, according to a notice sent to investors...

  • Mall Giant Simon Property Is Furloughing Workers

    Mall giant Simon Property Group (SPG) is furloughing part of its staff, adding to the growing number of companies shedding workers as businesses shut down to fight the coronavirus pandemic. The largest mall owner in the U.S., which has around 200 malls, open-air centers and shopping outlets, has closed all its U.S. properties since March 18, and retail analysts expected that a worker furlough or layoffs could follow. As of December 31, Simon Property (SPG) and its affiliates employed around...

  • Stock Investors Buy Into Corporate Bond Surge -- Update

    Companies ranging from Oracle Corp. (ORCL) to Nike Inc. (NKE) are borrowing record amounts in the investment-grade bond market to build cash before the full impact of the novel coronavirus hits the U.S. economy. Much of the new debt is being purchased by an unusual type of buyer: stock investors. "There is a rotation from a number of nontraditional investors out of other asset classes like high yield, distressed debt and equities into investment grade," said Andrew Karp, head of investment-grade...

  • Stock Investors Buy Into Corporate Bond Surge

    Companies ranging from Oracle Corp. (ORCL) to Nike Inc. (NKE) are borrowing record amounts in the investment-grade bond market to build cash before the full impact of the novel coronavirus hits the U.S. economy. Much of the new debt is being purchased by an unusual type of buyer: stock investors. "There is a rotation from a number of nontraditional investors out of other asset classes like high yield, distressed debt and equities into investment grade," said Andrew Karp, head of investment-grade...

  • Stock Investors Buy Into Corporate Bond Surge

    Companies ranging from Oracle Corp. (ORCL) to Nike Inc. (NKE) are borrowing record amounts in the investment-grade bond market to build cash before the full impact of the novel coronavirus hits the U.S. economy. Much of the new debt is being purchased by an unusual type of buyer: stock investors. "There is a rotation from a number of nontraditional investors out of other asset classes like high yield, distressed debt and equities into investment grade," said Andrew Karp, co-head of U.S....

  • Adidas to Pay Rent to Private German Landlords -FAZ

    --Adidas (ADDYY) will continue to pay rent to private landlords but is planning to defer payment for its corporate and institutional landlords, Chief Executive Kasper Rorsted says in an interview with Frankfurter Allgemeine Zeitung. --The comments are a response to reports in the German press over the weekend, which said the sporting goods maker would stop paying rent for shops that are currently closed, a move enabled by emergency government measures aimed at protecting tenants amid...

  • Fed Says It Will Maintain Aggressive Debt Purchases Next Week

    The Federal Reserve will continue its aggressive purchases of Treasury and mortgage-backed securities next week, very slowly lowering its unprecedented buying of government debt. The central bank said Friday it would buy $345 billion in Treasury securities next week, down from $375 billion this week but up from $250 billion last week. It will buy $200 billion in mortgage-backed securities, down from $250 billion this week but up from $67 billion last week.

  • Retreat From Risk Boosts Treasurys

    Treasurys rallied and corporate bonds slumped Friday, reflecting investors' caution following a three-day rally in stocks and other riskier assets. The yield on the benchmark 10- year U.S. Treasury note settled at 0.744%, according to Tradeweb, compared with 0.806% Thursday.

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