By David Randall and Carolina Mandl NEW YORK (Reuters) – “Big Short” investor Michael Burry, Farallon Capital Management, and Coatue Management were among the prominent hedge fund managers who took large bets on Chinese companies ahead of the reopening of the country’s borders in January after nearly three years of restrictions, securities filings showed on…
By Huw Jones LONDON (Reuters) -Britain on Tuesday set out draft legislation to regulate “buy now pay later” (BNPL) credit, saying the sector posed potential harm to consumers without thorough affordability checks. BNPL companies are largely unregulated and typically offer on-the-spot interest-free short-term loans that spread payments for retail goods like clothing. The sector nearly…
By Tom Sims and John O’Donnell FRANKFURT (Reuters) – For years, Allianz, one of the world’s biggest investors, piled billions into property, wind farms and even London’s sewage system, but now it is moving to shun such “alternative” investments for plain vanilla bonds, people with knowledge of the matter said. The German company’s new approach…
By Richa Naidu LONDON (Reuters) -This Valentine’s Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. COVID-era supply chain logjams and Russia’s invasion of Ukraine have meant that Britons paid a record 16.7% more for food…
By Carolina Mandl NEW YORK (Reuters) – Soros Fund Management, the family office of billionaire George Soros, added to its portfolio new shares in financial and healthcare companies and a bonds exchanged-traded fund in the fourth quarter, according to a regulatory filing on Monday. Soros disclosed a $325.3 million stake, or 2.9 million shares, in…
By Svea Herbst-Bayliss NEW YORK (Reuters) -Bath & Body Works named a veteran consumer products executive as a new director on Monday as the specialty retailer faces pressure from hedge fund Third Point LLC to cut costs and refresh its board. Lucy Brady, a senior executive at Conagra Brands, expands the board to 11 from…
(Reuters) – Finnish insurer Sampo on Friday reported a bigger-than-expected drop in fourth-quarter earnings citing challenging capital markets environment, sending its shares falling more than 5%. The group’s profit before tax fell 67% to 390 million euros ($418.43 million) in the quarter, missing analysts’ 553-million-euro estimate in a company-provided poll. Sampo also said it expected…
By Laura Matthews (Reuters) – Concerns that last year’s wild swings in stocks and bonds will resurface in 2023 are boosting the appeal of investments less dependent on upside in either asset class, such as managed futures and private markets. Soaring interest rates sparked a rare lockstep tumble in equity and fixed income last year,…
By Mark Miller (Reuters) – The old line that “you can’t take it with you” does not apply when it comes to your 401(k). When you change jobs or retire, you have three basic choices: leave your retirement account where it is, roll it over to a new employer or move it to a standalone…
By Chris Taylor NEW YORK (Reuters) – Sorry to break it to you, but your romantic partner may be sharing a secret relationship. With guess who? JPMorgan Chase. Or Citibank, or Wells Fargo. Whether it is a big purchase, a hidden debt or an unknown account, 39% of us have committed some form of “financial…
