By Marc Jones LONDON (Reuters) – Heavy falls in stock and bond markets over the last year have cut the combined value of the world’s sovereign wealth and public pension funds for the first time ever – and to the tune of $2.2 trillion, an annual study of the sector has estimated. The report on…
By Andres Gonzalez and Pablo Mayo Cerqueiro LONDON (Reuters) – Private equity funds are rethinking how they pull off large deals after a 40.4% contraction in global buyout activity amid a shortage of debt financing caused by rising interest rates and banks’ reluctance to open their money taps. Blackstone’s acquisition of Emerson’s Climate Technologies business…
By Arriana McLymore NEW YORK (Reuters) – With three days to go before Christmas, retailers across the United States and Europe face a turbulent end to a drawn-out, mostly disappointing holiday shopping season. Friday, Dec. 23, is slated to be the second-busiest U.S. shopping day of this year behind Black Friday, according to data firm…
By Rae Wee SINGAPORE (Reuters) – Private equity holdings are being sold at a record clip in an opaque secondary market, investors say, as asset managers cash out to cover losses elsewhere and rebalance portfolios. The wave of selling is the latest of several signs of stress in private markets and is another signal of…
By Yoruk Bahceli AMSTERDAM (Reuters) – The Netherlands expects to borrow 101.5 billion euros ($107.8) on the debt markets next year, the most since 2012, and its funding needs are “extremely uncertain” as much depends on the energy price outlook, the country’s debt agency said on Friday. Around 50 billion euros will be raised from…
(Reuters) – Global equity funds attracted their first inflow in six weeks in the week ended Dec. 14, with investors optimistic that easing inflation levels would prompt central banks to scale back the pace of interest rate hikes. Still, the Federal Reserve raised its benchmark rate by half a percentage point on Wednesday and said…
By Sinead Cruise, Kate Holton and Dhara Ranasinghe LONDON (Reuters) – Major investors are rethinking their support for Britain’s economy following months of political turmoil and persistent Brexit uncertainties, as experts predict its recovery from a global recession will be slow and painful. While governments worldwide are grappling with high inflation and low growth, UK…
By Nell Mackenzie LONDON (Reuters) – Well-known activist short-selling hedge funds expect to find more companies squeezed by tough economic conditions in 2023, potentially increasing instances where balance-sheet sinkholes are hidden. Some $321 billion worth of U.S. and European speculative-grade debt is due for refinancing over the next 12-14 months. Defaults may double in 2023,…
By Valentina Za MILAN (Reuters) – The European Central Bank has slightly increased the amount of capital UniCredit must hold as it takes a fresh look at banks’ assets given risks from the economic downturn and war in Ukraine. The ECB raised UniCredit’s minimum threshold for best quality capital to 9.20% of risk-weighted assets for…
LONDON (Reuters) – Britain’s biggest domestic bank Lloyds has hired ING’s technology chief to run its operations, Lloyds said on Thursday. Ron van Kemenade will join Lloyds as group chief operating officer in June next year, the British bank said. Van Kemenade will be charged with helping Lloyds CEO Charlie Nunn deliver his strategy to…
