Much of the fossil fuel industry may be facing an era of credit downgrades if producers prove too slow to adapt to a low-carbon future, according to Fitch Ratings. Oil and gas companies stand out as the most vulnerable issuers in an analysis by Fitch, which sought to gauge how...
Macro trades have bounced back to become the best performing hedge fund strategy in the third quarter, turning a page on a dismal first half that saw economic uncertainty weigh on managers. Asset-weighted returns for macro funds hit 3.07% in the three months through September, according to data from fund...
The Swiss franc is back on track to be the strongest performing G-10 currency against the dollar this year, beating all of its peers in October. Investors including Amundi and J.P. Morgan Private Bank say its rally has scope to run and options recently showed the highest bets for franc...
Global funds are offloading emerging Asia equities outside of China in droves as broader risk appetite cools amid concerns over a stronger dollar, higher borrowing costs and geopolitical tensions. Foreign investors have dumped nearly $11 billion of shares in October, taking the three-month sell-off to about $27 billion, according to...
Central banks have loaded up on more gold than previously thought this year, offering crucial support to prices that have faced pressure from global monetary tightening. Countries expanded bullion reserves by 337 tons in the three months through September, the World Gold Council said in a report Tuesday. That follows...
Morgan Stanley’s decision to award $20 million special bonuses to its runners-up for chief executive officer points to a governance risk, raising questions about their commitment to the company, according to Wells Fargo & Co. analyst Mike Mayo. The Wall Street bank named Ted Pick its next CEO last week, saying his...
Just a few years ago, Glen Point Capital co-founder Neil Phillips was celebrated as an aggressive but canny trader in the mold of one of his macro hedge fund’s main investors, George Soros. As of last week, Phillips is a convicted felon. Phillips, 53, was found guilty of commodities fraud on...
KKR & Co. is raising a second Asia real estate fund, targeting $2 billion to $2.5 billion to spend across the region, according to people familiar with the matter. The new fund has amassed about $600 million since late 2022, and the US investment firm is seeking to finish fundraising...
Employers in the US probably tempered their pace of hiring this month after beefing up payrolls by the most since the start of the year, consistent with a sturdy labor market that’s powering economic expansion. Government data on Friday are projected to show payrolls in the world’s largest economy increased...
JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon plans to sell shares currently worth about $141 million, the first such transaction since he took the helm at the Wall Street giant almost 18 years ago. Starting next year, Dimon and his family will dispose of 1 million of the...