State Bank and Trust Company

Chinese state banks are lenders to Thames Water’s parent company

...The lenders, which have so far refused to extend the loan without an injection of fresh equity from Thames Water’s owners, are Chinese state-owned Bank of China and Industrial and Commercial Bank of China...

April 4, 2024

Singapore

Singapore gives top-level briefings to reassure foreign banks on stability

...Banks have since significantly tightened up scrutiny of clients, with approvals for setting up private banking accounts and new family offices in the city-state now stretching into months and in some cases...

April 21, 2024

FT Live

Bank of the Year Awards 2024

Recognising the best in banking globally

Charity

England’s charities watchdog hits out at high street lenders over debanking

...The think-tank noted that Britain’s rich donate much less than peers in countries with comparable welfare states, such as Canada and New Zealand, and found that half of all donations from the wealthiest...

March 7, 2024

FirstFT

FirstFT: US investors consider their TikTok options

...The insurance arrangements potentially expose coastal states in Europe and Asia to huge potential clean-up costs in the event of a spill. 4....

March 15, 2024

LexInvestment trusts

Green investment trusts’ woes harm renewable energy groups Premium

...Green investment trusts say privately that investors now question the accuracy of some of their trusts’ NAVs and the discount rates used....

March 25, 2024

Vietnam

Vietnamese property tycoon sentenced to death over $12bn fraud

...Her actions had also eroded the public’s trust in the leadership of the ruling Communist party and the state, it said....

April 12, 2024

FT Live

Infrastructure Investment in Latin America and the Caribbean

Identifying opportunities for investors and asset managers

LexBarclays PLC

Barclays boss needs more than tweaks to regain shareholder trust Premium

...This unit generated one of the lowest ROTE’s among European banks last year. That lower ROTE may be due to less income productivity and lower leverage relative to peers, thinks Jason Napier at UBS....

February 13, 2024

Elliott Management Corp

Elliott builds stake in Scottish Mortgage Investment Trust

...They are commonly used by hedge funds to build positions in companies and are typically facilitated by big banks....

March 22, 2024

Brexit

Brexit has ‘exacerbated’ UK drug shortages, research finds

...The Nuffield Trust report said Brexit had “exacerbated” the “underlying fragilities at a global and UK level” in drug supply chains....

April 17, 2024

Investment trusts

Hedge funds circle struggling UK investment trusts

...These positions include a £70mn stake in Baillie Gifford’s US Growth Trust, an $88mn stake in JPMorgan’s European Discovery Trust and a £62mn stake in the BlackRock Smaller Companies Trust, according to...

April 5, 2024

World33 min

Eskom: how corruption and crime turned the lights off in South Africa | FT Film

...At the same time there is a countervailing force within the ANC, which looked at state companies as Eskom, as primary drivers of the economy, and also the engines to create transformation to increase black...

December 20, 2023

Scottish Mortgage Investment Trust PLC

Scottish Mortgage launches £1bn buyback to prop up share price

...Since then, it has suffered from a sell-off in growth companies prompted by aggressive interest rate rises from central banks to fight inflation....

March 15, 2024

Camilla Cavendish

Boosting civil society takes more than schmoozing the National Trust

...But its default rates are far below those of traditional banks, and it has helped millions to start small businesses....

January 26, 2024

Jacky Lumarque

Haiti has good reason not to trust the international community

...dysfunction of state institutions....

March 28, 2024

European banks

Ireland’s AIB could be fully privatised by 2025 after bumper profits

...The state, which exited the country’s largest lender, Bank of Ireland, in 2022, holds less than 40 per cent of AIB....

April 21, 2024

FT Live

US Decarbonization and Industrial Transition Summit

Securing the resources to build and finance America's clean energy future

Letter

Letter: UK needs to create a level playing field for investment trusts

...Currently, there are several investment trust vehicles that allow retail investors to invest in unlisted companies....

April 11, 2024

JPMorgan Chase & Co

Russian court orders seizure of $440mn from JPMorgan

...JPMorgan and VTB declined to comment on the ruling. Last summer, a Russian court froze about $36mn worth of assets owned by Goldman Sachs following a lawsuit by state-owned bank Otkritie....

April 24, 2024

Russian business & finance

Sberbank posts record profits on Russian mortgage rush

...“Of course, every shareholder would like the company to pay 110 per cent as dividends, and we can afford it — but not for long . . . Our task is to develop the company....

February 28, 2024

Renewable energy

Green investment trusts face vote on future as shares slide

...Companies....

March 25, 2024

Private investing

Investment trust purchases down 28% in 2023

...Global, flexible investment, infrastructure, UK equity income and UK smaller companies were the most popular sectors among those who did buy....

February 23, 2024

News updates from March 15: US home fees set to fall; Foxconn boosts outlook on AI hopes

Scottish Mortgage Investment Trust launches £1bn buyback in bid to prop up share price

...Shares in the £14bn trust, which is managed by Baillie Gifford and invests in high growth companies such as Nvidia and Tesla, are at a 13 per cent discount to net asset value, according to the company’s...

March 15, 2024

Perella Weinberg Partners

Perella Weinberg banker had €1mn tied up in secret ‘breakfast trust’ trading scheme, court told

...The Perella Weinberg banker died by suicide days after police raided the bank’s offices and his home in London early last year....

February 7, 2024

Lex PopuliIPOs

Lex Populi — NatWest’s quest to shake off state ownership

...State sell-offs in the 1980s and 1990s promised a whole new way of doing business, bringing in (at least theoretically) cost efficiencies and productivity gains....

February 9, 2024

Investor activism

US state leads pushback against company moves to thwart proxy fights

...Oregon has demanded nine US companies halt their efforts to undermine activist shareholders from pursuing proxy fights, becoming the first state to intervene in an intensifying legal cat-and-mouse game between...

January 9, 2024

FT Asset Management

The rugby lawyer turned corporate raider

...Investment trusts make up 27 per cent of the companies in the FTSE 350 index....

April 8, 2024

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