Global

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Brian Tora: Is the market pricing in future risks properly?

With the general election campaign now in full swing, our domestic market is displaying the sort of nervousness that might be expected when the final outcome is so uncertain. Building a base above 7,000 for the FTSE 100 is now looking a tough challenge. While the success or otherwise of the majority of those companies […]

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Industry calls for clarity on IMF asset manager stress tests

More clarity is needed on why asset managers should be subjected to bank-like stress tests as the industry is at risk of overregulation, say industry experts. The International Monetary Fund is the latest organisation to call for asset managers to be subject to stress tests, in a similar way to banks, in a bid to […]

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BlackRock Q1 profit up 9% helped by ETFs inflows

BlackRock has reported a 9 per cent rise in net income in the first quarter of 2015 compared to the same period last year, helped by large inflows into its exchange-traded funds. Net income was £551m in the first quarter of 2015, up from £507m in the same period last year. The company saw $70.4bn […]

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Shell agrees £47bn deal to buy BG Group

Royal Dutch Shell has agreed a takeover of oil and gas exploration company BG Group in a deal which values the business at £47bn. Under the terms of the deal, investors would receive a premium of about 50 per cent on BG’s closing share price of 910.4 pence as at 7 April. BG shareholders will […]

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Asset allocation: McInroy & Wood cuts equities in favour of ‘healthier’ government bonds

The team behind discretionary investment manager McInroy & Wood reduced the equity weight in its balanced fund from 80 per cent to 70 per cent “as a first step” strategy. East Lothian-based chief executive Tim Wood made this “significant change” to the portfolio in response to concerns about earnings growth. “We were becoming nervous about […]

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UBP to buy RBS’ Coutts International

Swiss private bank Union Bancaire Privée has confirmed it is to acquire Coutts International, RBS’ international private banking and wealth management arm. The sale, which follows RBS’ decision to create a UK-focused bank, includes business managed from Switzerland, Monaco, the Middle East, Singapore and Hong Kong, and assets under management of over CHF30bn (£22bn). RBS commercial and […]

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New York beats London as top finance centre, again

New York, London, Hong Kong and Singapore remain the four leading global financial centres, according to researchers. The latest Global Financial Centers Index shows that New York continues to be the leading global financial centre, but only beat second-place London by one point on the 1,000 point scale. Both cities moved up seven points compared […]

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Oil prices ‘unlikely’ to return to previous highs

Oil prices dropped around a percentage point in early Asian trading after Saudi’s Opec governor said it would be hard to recover to previous oil price highs. Saudi’s Opec governor Mohammed al-Madi believes that hitting the $100 to $120-a-barrel mark again would be “difficult”, the BBC reports. He also said Saudi Arabia would not ’unilaterally’ cut its output to […]

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M&G to close £81m Global Real Estate Securities fund

M&G Investments is winding-up its £81m Global Real Estate Securities fund as it is no longer commercially viable. M&G says it has been reviewing the fund after Gillian Tiltman left the firm in August last year to join Neuberger Berman. The fund managed £135m of assets on 31 July 2014 but this slumped to just […]