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...Twenty of the world’s biggest banks cut at least 61,905 jobs in 2023, according to Financial Times calculations....
...The precipitating moment came in May 2021 when start-up hedge fund Engine No 1 won three board seats at ExxonMobil by arguing that the energy giant needed to do more to diversify away from oil and gas....
...US mutual funds suffered more than $1tn in net outflows from January 2021 to December 2023....
...5.2 per cent in October 1993 to 8.1 per cent in November 1994....
...Job moves Deutsche Bank’s Alex Ham will lead the bank’s newly created global private growth capital team. Ham will continue in his role as co-chief executive of Deutsche Numis in London....
...It was clear from the start that Mnuchin’s firm, Liberty Strategic Capital, whose backers include SoftBank and Saudi Arabia’s sovereign wealth fund, would anchor the deal by putting in $450mn....
...Data from Sweden’s statistical agency show that there are 1.33mn registered enterprises in the country....
...GQG holds 700,000 Goldman shares, worth about $260mn at Wednesday’s closing price, for its US fund. Goldman is the only US bank in its portfolio....
...Letter in response to this article: Miami’s property boom has wreaked havoc / From Fernando Montes-Negret, Miami Beach, Florida, US...
...The central bank also sharply raised its forecast for US economic growth this year — from 1.4 per cent to 2.1 per cent — while saying inflation would be slightly higher than expected....
...Overall, the global ETF industry recorded net inflows of $965bn last year, according to data from BlackRock, up from $867bn in 2022. This was the second-highest figure on record, behind 2021’s $1.3tn....
...Brazil’s central bank also announces its latest monetary policy decision and the Bank of Canada releases minutes from its March 6 policy meeting....
...The Florida governor was quick to endorse the Trump campaign after announcing his withdrawal from the race for the Republican nomination for the White House....
...“If money comes back in and there is demand — whether it’s [from] banks, institutional investors or money managers seeing bond fund inflows — that could help to drive spreads tighter.”...
...Five more top stories 1....
...Five more top stories 1. US hedge fund billionaire Bill Ackman and his wife Neri Oxman have acquired a stake in the Tel Aviv Stock Exchange....
...And while the richest 1 per cent owned just 40 per cent two decades ago, their share stood at 54 per cent in the most recent data from 2022....
...Morgan Stanley had been the “dominant” bank in block trades, and the business was making bucketloads of money — $1.4bn from January 2018 to August 2021....
...Indeed the economists calculate that there was “more than $1.2 billion of [offset] transactions in regional markets from 1995 — 2018” and these “offsets led to substantial private gains from trade” for both...
...Unlike in the US, ETFs do not offer tax advantages in Europe. Ark has recently highlighted to its US investors the expected capital gains tax write-offs given the losses its funds have accumulated....
...One scoop to start: Bill Ackman, the billionaire founder of hedge fund manager Pershing Square Capital Management, made a profit of about $200mn from his high-profile bet against US 30-year Treasury bonds...
...During a fraught weekend on Capitol Hill, lawmakers omitted additional money for Ukraine from the bipartisan bill that will fund the US government until November 17, in a surprise eleventh-hour compromise...
...According to deal data provider PitchBook, 61 per cent of North American investors applied environmental, social and governance (ESG) criteria to at least part of their portfolio in 2022, up from 58 per...
...(Gillian Tett) Smart read Some of the world’s largest investment banks have been lobbying to exclude chunks of their underwriting activity from net zero targets, in a debate that threatens to slow their...
...On July 3, Bank of America published its latest figures for ESG bond fund flows....
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