Emerging-market borrowers are piling back into global bond markets, selling about $20 billion in dollar notes in just a few days, all too aware that the window of opportunity may snap shut as suddenly as it opened. Countries from Colombia to Indonesia and developing-nation companies rushed to lock in lower...
Cyber catastrophe bonds may be about to move out of the shadows of private deal-making and into the public debt markets. So-called cat bonds, which farm out hard-to-insure risks to capital market investors in exchange for double-digit returns, have typically been built around natural disasters such as hurricanes. But as...
A $290 million settlement between JPMorgan Chase & Co. and victims of Jeffrey Epstein was approved by a federal judge, who rejected a last-minute challenge from a group of state attorneys general that could have delayed the payout to almost 200 victims. US District Judge Jed Rakoff said the pact,...
Allianz SE reported a third-quarter profit that beat analysts’ estimates as its giant bond manager Pacific Investment Management Co. continued to attract new money. Group operating profit fell 15% to €3.47 billion ($3.7 billion), better than the €3.26 billion analysts had expected. Pimco attracted €10 billion from outside clients in...
There’s been an unwritten rule during the past decade of climate diplomacy: Good things can happen when the world’s two biggest economies are aligned. If the US and China can again come together in the quest to slash greenhouse gas emissions, there’s hope that progress can be made at COP28 in...
Goldman Sachs Group Inc. hired a trio of Credit Suisse private bankers as it builds up its presence in a swath of the Middle East that’s increasingly becoming a destination for the world’s rich. Fahad Alebrahim is joining the Wall Street firm to focus on Kuwait after previously working a Learn more...
The Federal Reserve is scrutinizing whether Morgan Stanley’s wealth management business is taking adequate measures to prevent potential money laundering by wealthy clients from outside the U.S. The New York-based bank’s top regulator is pressing the firm to improve controls and processes, ac Learn more about reprints and licensing for this...
Bitcoin rose to an 18-month high as expectations of an approval for exchange traded funds to invest in the largest crypto token intensified. Bitcoin gained as much as 3.6% to $36,856 on Thursday in Asian hours, the highest level since May 2022. Smaller tokens Ether rose as much as 2.2%...
The bad year that a lot of ESG investors are having may be about to get even worse. James Penny, chief investment officer of TAM Asset Management and a veteran of ESG investing, said the dramatic sell-off that’s torn through green stocks may soon morph into a “slow burn” that...
Nearly three quarters of consumers are delaying holiday purchases for discount shopping events such as Black Friday or Singles Day, and more than half plan to reduce spending to save money, according to a study from Ernst & Young. The report underscores how consumer spending patterns ar Learn more about reprints...