Global

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Richard Buxton: ‘There is no bubble in equities’

Old Mutual Global Investors chief executive Richard Buxton has defied fears of a market bubble in equity markets. The veteran manager has joined other investors in warning over systemic risks within exchange trading funds, however. Influential investors such as Neil Woodford have recently warned that there are many bubbles in the market that could soon […]

FCA looks to ban Libor trader for rate rigging

The FCA has sought to ban former Libor trader Tom Hayes over rate rigging. The former UBS and Citigroup trader was jailed for 11 years in 2015 for rigging the Libor rate. The FCA said yesterday it had decided to prohibit Hayes from “any regulated activity”, as it did not see him a “fit and […]

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US banking giants warn of imminent City exodus

Large US banks including JPMorgan Chase, Goldman Sachs and HSBC have told the US commerce secretary that the UK’s beleaguered Government and the slow-moving Brexit plans may lead to them moving thousands of jobs out of the City imminently. Several financial institutions met with US commerce secretary Wilbur Ross last week at a private lunch […]

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Mifid II job vacancies grow fourfold in a year

Asset managers and brokers have been rushing to add Mifid II-related specialists over the past year, research shows. Data compiled by LinkedIn on behalf of the Financial Times, shows that 1,300 Mifid II-related jobs were advertised on the website at the end of October. LinkedIn said the number of Mifid II jobs advertised by asset […]

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Baillie Gifford cuts management fees on 20 funds

Baillie Gifford has slashed annual management charges by up to 10 basis points across its UK Oeics and Irish Ucits funds. Key changes include the Baillie Gifford European fund, reduced from 0.65 per cent to 0.55 per cent, and the Baillie Gifford Japanese fund down from 0.65 per cent to 0.60 per cent. The asset […]