BRIEF-Third Point confirms Nestle stake
* Activist investor third point llc says nestle should be able to improve margins by as much as 400 basis points
ZURICH, March 13 Private bank and asset manager LGT, owned and managed by Liechtenstein's royal family, on Monday reported a 9 percent rise in 2016 net profit to 230 million Swiss francs ($228.4 million).
Based in Liechtenstein's capital Vaduz, LGT also reported record net new money of 11.7 billion francs. Assets under management totalled 152.1 billion francs.
The bank is optimistic about its business development in 2017 despite market uncertainties, LGT said in a statement.
($1 = 1.0070 Swiss francs)
(Reporting by Joshua Franklin; editing by Jason Neely)
June 25 Nestle SA, is being targeted by activist investor Daniel Loeb's hedge fund Third Point LLC, Bloomberg reported, citing people familiar with the matter.
HAMILTON, Bermuda, June 25 Although there is no Italian America's Cup team in Bermuda after Luna Rossa withdrew in anger over a rule change, Italy is having an impact on the final and could influence the cup's future.