Quebec pension fund ups stakes in infrastructure test case

FILE PHOTO - Polices officers watch a train pass in a subway station in Montreal, May 10, 2012. REUTERS/Olivier Jean

Here is the latest Financial News from Reuters.

Quebec pension fund ups stakes in infrastructure test case
TORONTO (Reuters) – Quebec’s public pension fund, the Caisse, is about to take on one of its toughest investment challenges yet – helping the commuters of Montreal.

U.S. financials ETF investors face tax bill after index revamp
NEW YORK (Reuters) – Investors who own some bank sector funds may be in for an unwanted surprise: a tax bill.

In afterglow of Wells case, U.S. consumer agency faces fight for its life
WASHINGTON (Reuters) – The U.S. watchdog for consumer finance scored a major victory last week when it was part of the government group that forced Wells Fargo & Co into a $190 million settlement of…

Long-term care insurer SHIP works to dump Platinum Partners
NEW YORK (Reuters) – A U.S. insurance company that works with more than 70,000 elderly policy holders to meet their healthcare needs is aiming to cut all of its financial ties to troubled hedge fund…

Column: Automatic Medicare Advantage enrollment draws scrutiny
CHICAGO (Reuters) – The Medicare enrollment process is fraught with complicated choices – but one big decision could be made for you automatically by a health insurance company if you are not on your…

Top U.S. bank regulator says Wells Fargo case shows sales risks
CAMBRIDGE, Mass. (Reuters) – The U.S. Comptroller of the Currency said a recent case against Wells Fargo & Co concerning phantom accounts highlights the risks other banks face in their efforts to…

Column: Eight years on from Lehman, finance remains a tax on us all
(Reuters) – Eight years to the day after the fall of Lehman Brothers and one thing has not changed: finance remains a private tax levied on the rest of us.

BlueCrest investors wait on cash nine months after shut-down
LONDON (Reuters) – An $8 billion hedge fund run by billionaire Michael Platt has yet to give investors all their money back nine months after the fund was shuttered, a spokesman for the fund and…

Hunt for yield leads U.S. mutual fund managers to private assets
NEW YORK (Reuters) – With traditional dividend-paying stocks such as utilities and telecom companies trading near record highs, U.S. mutual fund managers desperate for income are increasingly taking…

House committee to hold hearing on Wells Fargo sales practices
WASHINGTON (Reuters) – The U.S. House Financial Services Committee has opened a probe into Wells Fargo’s sales practices and plans to call the company’s chief executive before lawmakers at a hearing…

Fannie Mae elects Ryan Zanin to the board
(Reuters) – Fannie Mae , the largest U.S. home funding source, elected Ryan Zanin to its board of directors.

Wells Fargo faces proposed class action over bogus accounts
NEW YORK (Reuters) – Wells Fargo & Co, embroiled in a scandal over the opening of sham accounts, was sued on Friday by customers who accused the bank of fraud and recklessness for its behavior.

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