The 20 best performing hedge fund managers earned $22.4 billion for investors in 2022, marking their slimmest gains since 2016 as many firms, including Tiger Global Management, struggled with slumping financial markets, LCH Investments data show.
The dollar was staring at a fourth straight session of losses against the euro on Monday as more hawkish comments on European interest rates contrasted with market pricing for a less aggressive Federal Reserve.
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Britain's trade surplus in financial and related professional services edged up in 2021 as the United States cemented its position as the top customer, while the European Union eased in importance following Brexit.
Bank of England Governor Andrew Bailey questioned the need for a digital pound on Monday just as euro zone finance ministers backed further preparatory work on a digital euro.
Bankers in New York and London are bracing for year-end bonuses that recruiters estimate are 30% to 50% lower, while some may receive none at all as dealmaking sputters and economic gloom sets takes hold.
Private equity funds are rethinking how they pull off large deals after a 40.4% contraction in global buyout activity amid a shortage of debt financing caused by rising interest rates and banks' reluctance to open their money taps.
Investment funds and other non-bank financial institutions face their first 'stress test' next year to apply lessons from the near-meltdown in Britain's pension fund sector, the Bank of England (BoE) said on Tuesday.
The Bank of England will test so-called shadow banking institutions such as pension funds, that played a key role in recent UK bond market chaos, it said Tuesday.
The dollar was firm on Tuesday leading in to the release of U.S. inflation data and the final Federal Reserve meeting of the year.
The International Monetary Fund's executive board on Monday discussed the surcharges it collects from mostly middle- and lower-income countries on larger loans that are not repaid quickly, but failed to agree to launch a formal review.
Britain proposed over 30 reforms on Friday to bolster the City of London's role as a global financial centre, now outside the European Union and facing competition from Amsterdam, Paris and Frankfurt, as well as New York and Singapore.
The first coins bearing the likeness of Britain's King Charles III entered circulation Thursday, The Royal Mint announced.
Deutsche Bank and Rabobank were charged by EU antitrust regulators on Tuesday of taking part in a government bond cartel, the latest move against a sector which has racked up millions of euros in fines for various competition violations.
As Chinese assets whipsaw around hopes and fears over the country's path out of the pandemic, big offshore investors are slowly leaving the sidelines as they plot a cautious return to one of the year's worst-performing equity markets.
Mastercard lost an appeal in a London court on Tuesday against a ruling in a 10 billion pound-plus ($12 billion-plus) collective action that allows the claims of around three million people who have died since the lawsuit began to continue.
Germany's Deutsche Bank has a stark warning to European companies borrowing from U.S. lenders: They will drop you when times get tough.
Credit funds at Blackstone, Apollo, DZ Bank and Astra Asset Management picked up bargains from UK pension funds during their scramble for cash, and some say pension schemes are still offloading assets as pressures persist.
Spanish banks need to preserve capital and keep a lid on mortgage loan costs to cope with a potential deterioration of the economic outlook, the Bank of Spain warned on Friday.
The Bank of England raised interest rates by the most since 1989 on Thursday but it also warned that Britain faced a long recession and told investors borrowing costs were likely to go up by less than they expect.
Britain, rattled by the recent near meltdown of some pension funds, is pressing ahead to tighten oversight of the so-called shadow banking sector, taking the lead ahead of possible co-ordinated international action.
Eurozone inflation stood at just under 10 percent in September, nearly five times the ECB's two-percent target.
Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges.
Turmoil in global sovereign bond markets is set to persist for another six months to a year as central banks carry on raising interest rates to bring down inflation, according to a Reuters poll of market strategists.
British banks are bracing for a potential tax hit to their profits as the government scrambles to plug an estimated 40 billion pound ($45 billion) hole in its finances.
International Monetary Fund Managing Director Kristalina Georgieva on Thursday rebuked the British government over its planned tax cuts, telling its finance minister and central bank chief that their policies should not be contradictory.
UK pension schemes are racing to raise hundreds of billions of pounds to shore up derivatives positions before the Bank of England calls time on support aimed at keeping them afloat.
The Bank of England moved to ease concerns about the expiry at the end of this week of its emergency programme to calm turmoil in the government bond market, including a doubling of the maximum size of its planned debt buy-back on Monday.
The dollar slid against most major currencies on Tuesday as the yield on the benchmark U.S.
Sterling's slide against the dollar to a rate last seen in 1985 has sparked talk of a dramatic spiral downwards that ends in a collapse in confidence in British assets and a balance of payments crisis.
