Top UBS shareholder pins rebound hopes on private wealth

LONDON (Reuters) - UBS's wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat to...

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Top UBS shareholder pins rebound hopes on private wealth

LONDON (Reuters) - UBS's wealth management business will help it bounce back from a $1.5 billion rap for rigging interest rates, one of its largest investors said, although fears of costly civil lawsuits could cast a pall over its shares for some time.Paras Anand, European equities head at Fidelity Worldwide Investment, said legal action sparked by the Libor scandal posed an unpredictable threat to...

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Drugs group Lundbeck's shares hit by profit warning

COPENHAGEN (Reuters) - Shares in Danish drugs firm Lundbeck fell to their lowest level in over 12 years on Wednesday after it cut its profits forecast for the next two years as European sales slow and spending on new products rise to combat generic competition.The company has already warned that earnings would stall until 2015 due to cheap generic competition for its existing drugs, meaning new products...

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New Mauritius Hotels posts 25 pct drop in full-year profit

PORT LOUIS (Reuters) - Luxury hotels group New Mauritius Hotels (NMH) reported a 25 percent fall in full-year pretax profit, citing higher finance costs and fewer tourists, and forecast a 15 percent drop in first-quarter earnings.Ranked among the Indian Ocean island's most-traded stocks, NMH said on Wednesday that pretax profit for the year to September 30 fell to 603 million Indian rupees, with earnings...

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FedEx: cost plan can counter sluggish growth

NEW YORK (AP) — FedEx is more pessimistic about the U.S. economy than it was three months ago, but more assured of its own ability to grow earnings.The world's second-largest package delivery company lowered its economic forecast for the U.S., saying that there remains a lot of uncertainty for the company and the country.Its forecast for the current quarter, which incorporates the critical holiday...

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Participant Media plans cable TV network targeting millenials

LOS ANGELES (Reuters) - Entertainment company Participant Media, one of the backers of the hit historical drama "Lincoln", will launch a cable TV network next summer with programming that focuses on social issues of interest to the millenials generation of teens and young adults.The channel's original programming, films and documentaries will be aimed at viewers age 18 to 34 in the large demographic...

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Participant Media starts cable network for millenials

NEW YORK (TheWrap.com) - Participant Media, the company behind films including "Lincoln" and "The Help," is starting a new cable network targeting millenial viewers, with content from Davis Guggenheim and The Jim Henson Company, among others.It will be led by Evan Shapiro, who joined Participant in May after serving as President of IFC and Sundance Channel.Participant has bought The Documentary Channel...

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Amazon adds episodes of alt-comedy show "UnCabaret"

LOS ANGELES (TheWrap.com) - Amazon Instant Video has added four exclusive episodes of "UnCabaret," an alt-comedy showcase for the likes of Margaret Cho and Andy Dick, to its Prime Instant Video service.The show was created and hosted by comedian and entertainer Beth Lapides and features performances by such comedy stars as Sandra Bernhard, Garfunkle and Oates, Greg Fitzsimmons and Rob Delaney. Instead...

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Family Guy," "Haven" episodes pulled due to Newtown shootings rescheduled

LOS ANGELES (TheWrap.com) - In a possible sign that the nation - or at least network programmers are beginning to regain their composure after Friday's horrific school shootings in Newtown, Conn., episodes of Fox's "Family Guy" and Syfy's "Haven" have been rescheduled. The "Family Guy" episode "Jesus, Mary and Joseph," which was initially scheduled to run on Sunday before being...

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Leah Remini sued by former managers over "Family Tools" commissions

LOS ANGELES (TheWrap.com) - Leah Remini's new TV gig is already giving her a headache, months before it even starts. Former "King of Queens" star Remini is being sued by her former managers, the Collective Management Group, which claims that it's owed $67,000 in commissions relating to her upcoming ABC comedy "Family Tools," which debuts May 1.In a complaint filed with Los Angeles Superior Court on...

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