Pimco Total Return Loses $3.9 Billion in August Outflows
Bill Gross’s Pimco Total Return Fund (PTTRX) had $3.9 billion of net investor withdrawals in August, the 16th straight month of redemptions that began in May 2013 as performance faltered at the world’s biggest bond fund.
Russia-China Prove Cheap to Investors as Money Flows Rise
“It appears that investors don’t believe that the situation in Russia will worsen much further from where we are now and expect the indices to bounce again from oversold levels,” Elena Ogram, a Zurich-based investor at Bank Bellevue AG, said by e-mail yesterday. The Chinese stocks are buoyed by the prospect of economic stimulus from the government, she said.
France caves and cancels €600m warship deal with Russia
In a significant escalation of European sanctions on Moscow, France has announced that it will be suspending the controversial delivery of a state-of-the-art €600m warship to the Russian navy.
Opponents of mandatory labeling for foods made with genetically modified organisms spent more than $27m in the first six months of this year on GMO-related lobbying, roughly three times their spending in all of 2013, according to an analysis released Wednesday.