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Credit Suisse subpoened in tax-evasion probe

A New York regulator probing Credit Suisse's role in enabling tax evasion has demanded a trove of additional documents from the bank, a person familiar with the situation said Tuesday. Benjamin Lawsky, New York's superintendent of financial services, last week subpoenaed Credit Suisse for banker's emails, hard drives, personnel records, travel records, expense records and calendar entries. The probe is investigating "whether any misrepresentations were made to the department, as well as the potential evasion of New York taxes," the source said.

Fairfax-led group to invest in Eurobank in bet on Greek turnaround

By George Georgiopoulos ATHENS (Reuters) - International investors are to invest 1.3 billion euros ($1.8 billion) in Eurobank <EURBr.AT> to become the bailed-out Greek bank's biggest shareholders in another sign of growing market confidence in Greece. The country's bank bailout fund HFSF has picked an investment group led by Canada's Fairfax <FFH.TO> as anchor investors in a share sale needed to plug Eurobank's 2.86 billion euro capital shortfall.

Lloyds FX chief leaves bank: market sources

LONDON (Reuters) - Lloyds Bank's <LLOY.L> head of foreign exchange spot trading has left the bank, citing personal reasons unrelated to the investigation into manipulation of the global currency market, sources with direct knowledge of the matter said on Tuesday. Darren Coote had been with Lloyds in London since December 2011, having previously worked for more than a decade for Swiss bank UBS <UBSN.VX>, one of the foreign exchange market's biggest players.

US suit accuses CME of favoring high-speed traders

A group of traders has sued exchange giant CME Group, alleging that its policies favored high-frequency traders and defrauded other investors. Three traders filed the complaint Friday in federal court in Illinois, accusing CME and its subsidiary the Chicago Board of Trade of falsely labeling as "real-time" price data that was sold to "the entire financial world." In reality, the complaint argues, CME charged high-frequency traders to see key data and trade upon that information before the rest of the market.

Hot IPO market may face cooler reception as stock swings make investors nervous

NEW YORK, N.Y. - A hot market for initial public offerings may soon face a cooler reception from investors. IPOs are having their best start to a year since 2000. Eighty-nine companies have raised $19 billion through sales of new stock so far in 2014, according to Dealogic. But demand for more offerings depends largely on the health of the broader market, and after last week's sell-off, the clamour from buyers may quiet down. Auto financing company Ally Financial and hotel operator La Quinta Holdings had lukewarm receptions for their IPOs last week.

TIAA-CREF to buy Nuveen Investments for $6.25 billion

By Greg Roumeliotis and Mike Stone (Reuters) - TIAA-CREF, an insurer and asset manager focusing on workers at non-profit organizations, said it would acquire fund manager Nuveen Investments for $6.25 billion, seeking to expand its mutual fund and municipal bond offerings. The deal will add more than $221 billion in assets to TIAA-CREF's roughly $569 billion in assets under management, broadening its portfolio with closed-end municipal bond funds that offer regular, annuity-type payouts.

Mobius' emerging market dominance weakens as fund suffers record outflows

By Nishant Kumar HONG KONG (Reuters) - Mark Mobius' Templeton Asian Growth Fund, Asia's biggest equity mutual fund, suffered record outflows in the March quarter in a sign investors are losing faith with the emerging markets guru. Returns from Mobius' $11.7 billion fund from Franklin Templeton Investment missed the benchmark last year by the most in 14 years, after some of the stocks Mobius selected fell as a result of political unrest in Thailand and waning appetite for commodities in China.

Carlyle sees private-equity focus on emerging markets

By Guillermo Parra-Bernal RIO DE JANEIRO (Reuters) - The global private equity industry will focus more on emerging markets in coming years as Brazil and China become the leading global recipients of capital from the sector, a senior industry executive said on Monday.

Citi posts higher income as troubled assets perform better

By David Henry and Tanya Agrawal (Reuters) - Citigroup Inc posted better-than-expected quarterly income as losses on troubled assets narrowed, but revenue declined in many of its major businesses and operating expenses remained stubbornly high. The biggest boon to Citigroup's first-quarter results came from Citi Holdings, the unit that houses the assets it's looking to shed. But echoing JPMorgan Chase & Co's results on Friday, Citigroup was hurt overall by a decline in revenue from bond trading and home mortgage lending.

How to avoid the trouble coming to the tech sector

By John Wasik CHICAGO (Reuters) - A resounding shot across the bow has been fired at the tech sector in recent weeks. The tech-heavy Nasdaq Composite Index is down nearly 5 percent in April through Friday's close and the Nasdaq Biotechnology Index is off 21 percent from its record closing high on February 25. Many of the sector's flagships and newcomers have been in the crosshairs. The latest tech stock falterings could be a sign of trouble ahead.
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