By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Institutional investors rushed to crypto products that bet on price declines, posting record inflows, as the collapse of digital asset exchange FTX rippled across the industry and significantly weighed on market sentiment, according to weekly data from digital asset manager CoinShares released on Monday. Crypto products and funds …
By Virginia Furness LONDON (Reuters) – Morgan Stanley Investment Management said on Monday it had launched a new $1 billion private equity strategy to invest in companies which will remove 1 gigaton of carbon dioxide emissions from the atmosphere by 2050 or prevent that amount entering the atmosphere. Companies need trillions of dollars of investment …
Morgan Stanley IM launches $1 billion climate-focused private equity strategy Read More »
(Reuters) – Texas-based fintech firm GloriFi is shutting down and laid off most of its employees, the Wall Street Journal reported on Monday, citing people familiar with the matter. The company’s decision comes after it failed to secure funding needed to carry its operations through the first quarter, the report said, citing an email from …
Texas-based fintech firm GloriFi to shut down – WSJ Read More »
NEW YORK (Reuters) -Asset manager BlackRock said on Monday it had increased its strategic overweight on investment grade credit due to attractive valuations and the income potential coming from corporate bonds’ higher yields. “We go more overweight investment grade (IG) credit on attractive yields and healthy corporate balance sheets that can withstand the mild recession …
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By Svea Herbst-Bayliss NEW YORK (Reuters) -Hestia Capital Partners LP, which scored big gains on its GameStop bet, is pushing shipping and mailing company Pitney Bowes Inc to re-evaluate its capital allocation and e-commerce strategy, sources familiar with the matter said. The hedge fund, which owns a 6.9% stake in the company that leases postal …
LONDON (Reuters) -JP Morgan remains the world’s most systemically important bank according to the latest rankings from the G20’s Financial Stability Board published on Monday. The FSB began the annual rankings after the global financial crisis over a decade ago, requiring the world’s biggest lenders to hold an extra buffer of capital, calibrated across five …
JP Morgan remains world’s biggest systemically important bank Read More »
By Chiara Elisei (Reuters) -Default rates on U.S. leveraged loans will hit a near-record high of 11.3% in 2024, while defaults on euro leveraged loans will hit 7.1%, as the global economic outlook deteriorates, Deutsche Bank said on Monday. For 2023, however, Deutsche Bank expects default rates to be kept in check given the lack …
Deutsche Bank sees U.S. leveraged loan defaults near record highs in 2024 Read More »
By David Shepardson (Reuters) – Lawyers for the U.S. Justice Department said American Airlines Group’s alliance with JetBlue Airways Corp would harm travelers while the airlines pushed back during closing arguments on Friday in the government’s bid to dissolve the partnership. The department, six states and the District of Columbia have called the “Northeast alliance …
American Airlines, JetBlue alliance will harm travelers, U.S. argues Read More »
By Selena Li and Samuel Shen HONG KONG (Reuters) – Canada’s Manulife Financial Corp has become the first foreign financial firm to receive regulatory approval in China to take full control of a funds joint venture, paving the way for it to expand its presence in the country’s $3.8 trillion fund market. Manulife, Canada’s largest …
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(Reuters) – FTX founder Sam Bankman-Fried sold a stake in the company worth $300 million when the crypto exchange raised capital last year, the Wall Street Journal reported on Friday, citing the firm’s financial records and people familiar with the transaction. At the time, Bankman-Fried told investors it was a partial reimbursement of money he’d …
FTX’s Sam Bankman-Fried cashed out $300 million during funding spree – WSJ Read More »
