Bloomberg Business

New York again topped the list of the world’s wealthiest cities, boasting some 340,000 millionaires last year, according to investment migration firm Henley & Partners.

Grasshopper Club Zurich’s Chinese owner is considering a sale of the Swiss football team, people with knowledge of the matter said.

Deutsche Bank AG aims to double private-banking revenue from Asia in five years by ramping up efforts to attract the region’s ultra-wealthy, joining other firms seeking to pounce on opportunities created by the near-collapse of Credit Suisse Group AG.

Hong Kong fell behind rival Singapore in a ranking of the world’s wealthiest cities.

BlackRock Inc. said it expects institutional investors to increase allocations to private equity and private credit funds this year even amid recession fears and rising interest rates.

China’s economy grew at the fastest pace in a year in the first quarter, putting Beijing on track to meet its growth goal for the year without adding major stimulus, while also helping to cushion the global economy against a downturn.

A Japanese insurer with $65 billion of assets plans to offload all its currency-hedged foreign debt holdings, foreshadowing what may become a renewed wave of selling by some of the biggest investors in global bond markets.

Fund managers are further cutting exposure to British equities, according to Bank of America Corp., as the country’s cheaper, so-called value shares lose favor along with banking stocks.