LONDON (Reuters) – U.S. President Joe Biden did not discuss the leak of intelligence documents with British Prime Minister Rishi Sunak when the two men met in Northern Ireland this week, White House press secretary Karine Jean-Pierre said on Thursday. “It did not come up, the leaked documents, in that conversation,” she told reporters in…
WASHINGTON (Reuters) – The United States arrested Air National Guard employee Jack Teixeira on Thursday in connection with transmission of classified defense information, U.S. Attorney General Merrick Garland said. “FBI agents took Teixeira into custody earlier this afternoon without incident,” Garland said at a brief statement at the Justice Department. (Reporting by Sarah N. Lynch…
LONDON (Reuters) – British finance minister Jeremy Hunt said on Thursday there was no room for complacency in tackling low growth and high inflation after data showed the economy stagnated in February, hurt by strikes among public workers. “The growth numbers show there is absolutely no room for complacency. Inflation is higher than we want,…
By Simon Jessop LONDON (Reuters) -Britain’s biggest asset manager, Legal & General Investment Management (LGIM), said on Thursday it would back a number of climate-focused shareholder resolutions at the annual meetings of eight leading U.S. and Canadian banks. LGIM, insurer Legal & General’s fund arm, which manages around $1.5 trillion, said it was going public…
By Nell Mackenzie, Carolina Mandl and Summer Zhen LONDON/NEW YORK/HONG KONG (Reuters) – March’s market turmoil has forced many macro and trend-following hedge funds to cut bait on bad portfolio bets and caused at least one bank that lends to them to scrutinize its clients’ exposure, according to sources and preliminary data reviewed by Reuters….
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop splitting assets across multiple managers, as it tries to cut the complexity and risks of a strategy that imploded last year. Asset managers worry new rules to make LDI investing more robust could render the…
LONDON (Reuters) – Financial markets have been thrown a fresh curve ball by the decision to write down 16 billion Swiss francs ($17.5 billion) of Credit Suisse bonds, known as Additional Tier 1 or AT1 debt, to zero as part of a forced rescue merger with UBS. Under the deal, holders of Credit Suisse AT1…
By John Revill ZURICH (Reuters) – The fall of Credit Suisse has dealt a serious blow to Switzerland’s credentials as the world’s leading wealth management centre, experts warn, calling into question its reputation for stability, regulation and corporate governance. Battered by years of scandals and losses, Credit Suisse had been fighting a crisis of confidence…
By Nell Mackenzie and Pablo Mayo Cerqueiro LONDON (Reuters) -Investment managers Bridgewater Associates, Millennium Management and Marshall Wace added to short positions on European banking shares after the collapse of Silicon Valley Bank sparked contagion fears across global banks, according to data from Breakout Point. Hedge funds including Citadel, Wellington Management, Capital Fund Management and…
By Noele Illien, John Revill and Tom Sims (Reuters) – Swiss regulators pledged a liquidity lifeline to Credit Suisse in an unprecedented move by a central bank after the flagship Swiss lender’s shares tumbled as much as 30% on Wednesday. In a joint statement, the Swiss financial regulator FINMA and the nation’s central bank sought…