Asian Stocks Climb on U.S. Economic Stimulus Plan; Banks Gain
By Chen Shiyin and Patrick Rial
Jan. 25 (Bloomberg) — Asian stocks rose, driving the
regions benchmark to its biggest gain in almost a decade, after
South Koreas economy expanded faster than estimated [...]
NEW YORK�(CNNMoney.com) — A household name among mutual funds, Fidelity Investments’ Magellan Fund, is opening to investors again after a decade, the Boston-based company announced Monday. The fund, made famous by investing guru Peter Lynch, was closed in 1997 to prevent the fund from becoming unwieldy to manage. It reached a peak of $102 billion [...]
NEW YORK (Reuters) - Regulators are investigating whether several current and former employees at Merrill Lynch %26amp; Co Inc (MER.N: Quote, Profile, Research) improperly placed trades for the brokerage house’s own account ahead of client orders, The Wall Street Journal reported on Monday.
A Merrill Lynch representative was not immediately available for comment.
The report, quoting people [...]
Mutual fund firm Fidelity Investments has sold 32 percent of its stake in US Airways Group Inc.
Fidelity remains the Tempe, Ariz.-based carrier’s largest shareholder, with an 8.65 percent stake in US Airways.
The Boston-based firm has reduced its holding in the airline to 7.9 million shares, according to a filing with the [...]
Fidelity Investments named Rodger A. Lawson as as president of FMR Corp., the holding company for Fidelity%26#39;s businesses.
Lawson, most recently a vice chairman at Prudential Financial Inc., will oversee sales and retirement services and report to Chairman and CEO Edward %26quot;Ned%26quot;%26#39; Johnson III, Boston-based Fidelity said Tuesday in a statement.
The appointment [...]
Mutual fund firm Fidelity Investments has sold 32 percent of its stake in US Airways Group Inc.
Fidelity remains the Tempe, Ariz.-based carrier%26#39;s largest shareholder, with an 8.65 percent stake in US Airways.
The Boston-based firm has reduced its holding in the airline to 7.9 million shares, according to a filing with the [...]
Fidelity Investments has opened a new office at the Cool Springs Galleria Mall at 2035 Mallory Lane.
The 7,500-square-foot stand-alone building offers personalized service and financial guidance for investors. Company officials say they decided to open the office after conducting extensive site analysis, surveys and focus groups to identify the best design for interacting [...]
Fidelity Investments President Abigail Johnson has joined the Massachusetts Institute of Technology%26#39;s board of trustees.
Johnson, granddaughter of Fidelity%26#39;s founder, was elected to the MIT Corp. earlier this year to fill an 18-month opening on the board, the result of an unexpired term. Johnson earned a bachelor%26#39;s degree from Hobart and William Smith Colleges [...]
At Fidelity Investments, insiders say there is a popular adage embraced by the company’s rank and file: %26quot;Change is our only constant.%26quot; Judging by the recent turnover among its top investment professionals, it seems the company is sticking to its word.
A Boston Business Journal sampling of 241 Fidelity mutual funds shows that [...]
A former compliance officer at Fidelity Investments has accused the mutual fund giant of engaging in %26quot;willful blindness%26quot; to sidestep and in some cases violate the Patriot Act and other laws aimed at tracking money laundering and funding for terrorists.
The accusations triggered a flurry of lawsuits in courtrooms from Boston to Plymouth [...]
