By Saeed Azhar, Niket Nishant and Lananh Nguyen NEW YORK (Reuters) – U.S. banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co, Bank of America Corp, Citigroup…
By Summer Zhen and Samuel Shen HONG KONG/SHANGHAI (Reuters) – Bridgewater has doubled its fund assets in China to more than 20 billion yuan ($2.93 billion) over the past year, according to two sources and government data, a feat that cements its position as the biggest foreign hedge fund in the country. The jump was…
(This Jan. 9 story has been corrected to fix AUM of Nuvama Wealth Management in the fourth paragraph after the fund issued a correction) By Bhakti Tambe MUMBAI (Reuters) – Indian investors are looking to increase the proportion of debt in their portfolios on expectations of a peak in policy tightening, a desire to lock…
(Refiles to fix typos in paragraphs 2 and 4) NEW YORK (Reuters) -D.E. Shaw’s largest hedge fund gained 24.7% last year after fees, outperforming average gains for the industry in a high-volatility environment, according to a source familiar with the matter. D.E. Shaw, one of the industry’s biggest managers, saw gains in its D.E. Shaw…
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 Lananh Nguyen, Saeed Azhar and Lawrence White NEW YORK/LONDON (Reuters) -Bankers in New York and London are bracing for year-end bonuses that recruiters estimate are 30% to 50% lower, while some may receive none at all as dealmaking sputters and economic gloom sets takes hold. Financiers face disappointment when their compensation awards land…
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 Chris Taylor NEW YORK (Reuters) – When Jenny Rosenberger’s daughter started thinking about college, she felt what a lot of parents in America do: Totally overwhelmed. The senior vice president for Bank of America in Newark, Delaware, took one look at the application process – with its mountains of options, paperwork, and opaque admissions…
By Medha Singh (Reuters) – Retail investors are doubling down on Exchange Traded Funds (ETFs) as rising interest rates and volatile markets curb their appetite for risky assets such as meme stocks, SPACs and cryptocurrencies. Global financial markets have taken a beating as central banks try to combat runaway inflation with aggressive rate hikes, thereby…