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...Blackstone said foreign investors were temporarily put off by the turmoil, but pent up demand and cheaper prices for sterling assets could reel in buyers this year....
...Binance, one of the world’s biggest crypto platforms, said its users could “now deposit [sterling] . . . via [the] Faster Payment Service”, a key UK payments network, after it reached an agreement with payments...
...Those income streams are now worth much more than they were last year, as the value of sterling has slipped to multi-decade lows....
...“Otherwise we’ll start seeing more turbulence for sterling.”...
...Private credit co-heads James Reynolds and Kevin Sterling have also been named global head of direct lending and global head of investment-grade private credit and asset finance, respectively....
...Partner Joshua Sussberg is representing three major crypto exchanges that have filed for bankruptcy protection — Voyager, Celsius Network, and BlockFi....
...Fortress Investment Group managing partners Drew McKnight and Joshua Pack will replace co-founders Pete Briger and Wes Edens as co-CEOs of the firm following its sale by SoftBank to Mubadala Capital and...
...Combined with inflation and sterling moves, investors across the market will therefore be confronting big losses in real terms....
...In particular, if sterling weakens, assets overseas are worth more in sterling terms....
...He added that FTX’s demise would not alter plans by the BoE and Treasury to create a “digitally native pound sterling”, with a consultative report setting out the next steps due to be published at the end...
...Sterling steadied against the dollar following the BoE’s intervention, but analysts warned any respite would probably be shortlived. Read more about markets here....
...The meeting between Kwarteng and the heads of companies including Aviva, Legal & General, Royal London, BlackRock, Schroders and Fidelity, came the day after sterling hit a record low against the US dollar...
...For instance, if they look like they’re getting lax on fighting inflation, it could put sterling under more pressure. And sterling obviously had a terrible time already this year....
...Sterling gained 1.4 per cent to $1.09 following the BoE’s intervention on Wednesday, but analysts warned the relief would probably be shortlived....
...If it maintains its current level for the rest of the year, sterling is set to have its worst ever year against the dollar....
...A poorly-received “mini” Budget from the UK government last Friday added to the volatility and sent sterling to a record low against the dollar earlier this week....
...Five Shearman & Sterling energy and infrastructure partners have joined Ashurst days after their former firm announced a tie-up with Allen & Overy....
...Reporting by Mary McDougall, Joshua Oliver, James Pickford, Josephine Cumbo and Chris Tighe...
...Job moves Shearman & Sterling has elected its New York-based co-global managing partner and head of disputes Adam Hakki as senior partner, succeeding David Beveridge....
...Guy Hayward-Cole, head of Europe, Middle East and Africa advisory at Nomura, said the sharp drop in sterling in recent weeks creates an opportunity for many US buyers....
...This would require stablecoin issuers to hold equal reserves of pounds sterling for the tokens issued, which could not be used for purposes such as lending....
...Additional reporting by Emma Dunkley, Siddharth Venkataramakrishnan, Harriet Agnew, Stephen Morris and Joshua Franklin...
...Vanguard’s £34bn UK Lifestrategy funds range has performed exactly the opposite of the way many retail buyers would expect, writes Joshua Oliver....
...Before its deal with JPMorgan Global Growth and Income, the Scottish Investment Trust appointed consultants to review its management, as its board said that their returns had underperformed the sterling...
...This week, reporter Joshua Chaffin visited the area which is normally a dwelling place for sunseekers and retirees....
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