IShares MSCI Malaysia ETF (EWM) Declines 0.03% for Feb 23
Analyst's Predictions on Discovery Communications, Inc. (DISCK), Valley National Bancorp (VLY)
Knuckling Down on Shares of Occidental Petroleum Corporation (NYSE:OXY)
Lloyds pulls £109bn in funds from Standard Life Aberdeen on competition concerns
15 February 2018, 06:43 | Hattie Nash
The Standard Life Aberdeen PLC (LON:SL) Stock Rating Reaffirmed by Citigroup Inc.
Royal Bank Of Canada upped their target price on shares of Standard Life Aberdeen PLC from GBX 500 ($6.60) to GBX 520 ($6.86) and gave the stock an "outperform" rating in a report on Monday, August 14th.
"Aberdeen has delivered good service and performance and Scottish Widows and Wealth would welcome their participation in the review if Standard Life Aberdeen is able to resolve the competition issue".
The bank had agreed to delay its decision for six months after the merger completed, an arrangement that only expired on Wednesday.
Scottish Widows and Lloyds said in a statement they had given notice to SLA of their plans to terminate the deal, kick-starting a 12-month process to find a replacement provider or providers. "I think that what we now do is sit down and work out what strategic advantages there might be in working. more closely with Lloyds or whatever it might be".
The asset management tie-up created a "material competitor", Scottish Widows chief executive Antonio Lorenzo said, adding "It is now appropriate to review our long-term asset management arrangements to ensure they remain up-to-date and that customers continue to receive good service and investment performance. We will be discussing the implications of this with Lloyds and Scottish Widows".
Professional Pensions' sister publication Investment Week understands the majority of assets Aberdeen Standard Investments manages for Scottish Widows are invested in strategies such as passive equity and buy and hold United Kingdom fixed income.
When no agreement had been reached, Scottish Widows made a decision to walk away from their partnership with Standard Life Aberdeen and review their long-term asset management arrangements.
Commenting on the news, Laith Khalaf, senior analyst at Hargreaves Lansdown said: "This is a blow for Standard Life Aberdeen, but has been on the cards ever since the merger".
The Edinburgh-based company was managing the funds because Lloyds had sold the fund management...
"Losing this book of business would strike a sour note for the Standard Life Aberdeen merger, and undermines some of the rationale for joining forces, which was built on scale".
"There is a possibility Standard Life Aberdeen may retain this chunk of assets, subject to further negotiations".
The decision to terminate the deal comes a week before Lloyds updates the market on its next three-year strategic plan on February 21 and SLA's full-year results on February 23.
Winter Olympics 2018: Svindal claims downhill gold
Svindal stopped the clock at 1min 40.25 sec in the one-run shootout to secure his second Olympic title eight years after his last. He went wide at one turn and fought through the air off one jump while posting the eventual eighth-fastest time at the mid-point.
Uber lost $3.7 billion during its last three quarters
The latest financial report shows the company continues to increase its revenue while making progress on cutting its loss. The company shared the numbers with technology news site the Information after the call and confirmed them to Bloomberg .
The Goodyear Tire & Rubber Company (NASDAQ:GT)
Cooper Tire & Rubber Company (NYSE:CTB) shares have experienced a recent steady downtrend, causing some concern for shareholders. Finally, M&T Bank Corp acquired a new stake in Cooper Tire & Rubber during the second quarter valued at approximately $243,000.
Aaron Rodgers will be at Daytona to support Danica Patrick
For those who don't know it by now, Green Bay Packers quarterback Aaron Rodgers and race auto champion Danica Patrick are a thing. Patrick's longtime sponsor, GoDaddy, has signed on for the two races, America's best-known motorsports events.
Rockets dump Kings for 10th consecutive win
Derrick Favors had 18 points and 12 rebounds, and Rudy Gobert added 14 points and 17 rebounds for Utah. "That's how fast it was". Ask anyone on the team if they believe they can get better after the break and the answer comes quickly - and often in one word.
What's The Story Behind Devon Energy Corporation (NYSE:DVN)
A company that manages their assets well will have a high return, while if manages their assets poorly will have a low return. Analysts believe that the company has the potential to earn average revenue of $3.52 Billion for the current quarter.
"Dream come true" as Hirscher finally wins Olympic gold
As a racer: what to do? "(Greatest of all time), I'd say he's up there", five-time British Olympic skier Graham Bell told the BBC. There was a time when Ligety and Hirscher had a burgeoning rivalry - the two of them often trading wins on the World Cup circuit.