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Reuters Money

Below please find daily updates pertaining to the latest in financial, business, and tax news:

Reuters Money

Ackman apologizes for Valeant losses, calls bet a mistake

Thu, Mar 30, 2017

BOSTON (Reuters) - Billionaire hedge fund manager William Ackman has apologized to clients for betting on Valeant Pharmaceuticals International Inc , telling them he was "deeply and profoundly sorry"... ...

Of pretentious hedge fund names and bad results: James Saft

Wed, Mar 29, 2017

(Reuters) - You probably already knew that hedge fund names are intended to impress, or even better to confuse just enough to make you stop asking questions, but most of all to inspire confidence. ...

U.S. money market assets increased in latest week: iMoneyNet

Wed, Mar 29, 2017

NEW YORK (Reuters) - U.S. money market fund assets increased by $5.47 billion to $2.632 trillion in the week ended March 28, the Money Fund Report said on Wednesday. ...

BlackRock cuts fees and jobs; stockpicking goes high-tech

Tue, Mar 28, 2017

NEW YORK (Reuters) - BlackRock Inc on Tuesday said it would overhaul its actively managed equities business, cutting jobs, dropping fees and relying more on computers to pick stocks in a move that... ...

Wells Fargo to pay $110 million to settle lawsuit over account abuses

Tue, Mar 28, 2017

(Reuters) - Wells Fargo & Co said it agreed to pay $110 million to settle a lawsuit by customers challenging its opening of accounts without their permission, a practice that led to a scandal that... ...

SEC denies a second application to list bitcoin product

Tue, Mar 28, 2017

NEW YORK (Reuters) - The U.S. Securities and Exchange Commission on Tuesday denied for the second time this month a request to bring to market a first-of-its-kind product tracking bitcoin, the... ...

Bacardi family spirit: Remember your roots and be frugal

Tue, Mar 28, 2017

NEW YORK (Reuters) - Facundo L. Bacardi had little interest in joining the family business, which happens to be the largest privately held spirits company in the world, with a portfolio of more than... ...

Your Money - Being 26: A money checkup for biggest U.S. age group

Tue, Mar 28, 2017

NEW YORK (Reuters) - Callan Olive is about as adult as you can get for a 26-year-old. ...

Morgan Stanley rates Banco BTG Pactual stock 'overweight'

Tue, Mar 28, 2017

SAO PAULO (Reuters) - Grupo BTG Pactual SA's stock is undervalued based on its ability to outperform peer banks in Latin America, where investment-banking and asset management activities remain... ...

Citadel rehires Yeh as head of its quant unit

Tue, Mar 28, 2017

BOSTON (Reuters) - Hedge fund Citadel said it is making changes at the top of its global quantitative division by bringing back James Yeh to replace the current head who is retiring. ...