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By Chibuike Oguh NEW YORK (Reuters) -Private equity firm TPG Inc said on Wednesday its after-tax quarterly distributable earnings fell more than 60% due to a plunge in asset sales across its private equity, growth, real estate and impact businesses. The Fort Worth, Texas-based firm said third-quarter after-tax distributable earnings, which represent the cash used …

Private equity firm TPG reports 60% drop in earnings as asset sales plummet Read More »

(Reuters) – More consumers opted for credit cards and unsecured loans in the third-quarter from a year earlier amid decades-high inflation, according to a report on Tuesday from global credit rating firm TransUnion. While delinquencies for most credit products are treading in line with pre-pandemic levels, they have risen in comparison to levels seen in …

Consumers turn to credit cards, loans as costs soar – report Read More »

By Chibuike Oguh NEW YORK (Reuters) -Carlyle Group Inc said on Tuesday its third quarter distributable earnings fell 12% year-on-year owing to a drop in income from asset sales primarily from its private equity division. This is the first quarter Carlyle is reporting its earnings since Kewsong Lee abruptly stepped down in August as chief …

Carlyle’s Q3 earnings drop 12% on slower asset divestments Read More »

NEW YORK (Reuters) – Global hedge funds posted a 2% gain in October, helped by a rally in stock markets and a combination of higher inflation and interest rates, data provider HFR said in a statement on Monday. Equities, event-driven and macro hedge fund indexes went up last month, according to HFR, adding two-thirds of …

Global hedge funds advance in October amid stocks rally Read More »

By Carolyn Cohn LONDON (Reuters) – The recent crisis in Britain’s government bond market means smaller UK pension schemes may fork out more money for a bespoke liability-driven investment (LDI) strategy in future to ensure better protection, industry sources say. LDI products, sold by asset managers such as BlackRock, Legal & General and Schroders to …

UK bond turmoil leaves smaller pension schemes with longer-term costs Read More »

(Reuters) -Wells Fargo is under pressure from the U.S. Consumer Financial Protection Bureau (CFPB) to pay more than $1 billion to settle a slew of investigations into customer mistreatment, Bloomberg News reported, citing people familiar with the matter. The fourth-largest U.S. bank declined to comment on the report, while the CFPB did not immediately respond …

Wells Fargo under pressure from CFPB to pay over $1 billion in fine- Bloomberg News Read More »

LONDON (Reuters) -Investors put money into cash at the fastest pace at the start of a quarter since the 2020 COVID crisis in the week to Wednesday, as heightened volatility and questions over the U.S. rate outlook triggered a safe-haven dash, BofA Global Research said on Friday. Cash funds saw inflows of $62.1 billion in …

Investors pile into cash at fastest rate since COVID crisis-BofA Read More »

(Reuters) – Sales at Qualcomm Inc are slowing as the smartphone market heads for its worst contraction in years, and Wall Street analysts don’t expect that to turn around anytime soon. At least 14 brokerages lowered their price targets on the largest maker of smartphone chips on Thursday after it gave a forecast $2 billion …

Wall Street sees little respite to Qualcomm’s smartphone gloom Read More »

By Simon Jessop and Ross Kerber LONDON/NEW YORK (Reuters) – BlackRock, the world’s biggest asset manager, said on Thursday it would expand the number of clients eligible to choose how to vote at company annual meetings on everything from executive pay to climate strategy. The “Voting Choice” program announced last year by the $8 trillion …

BlackRock expands corporate voting choice to more clients Read More »

By John McCrank and Chris Prentice (Reuters) -The U.S. Securities and Exchange Commission on Wednesday proposed new rules aimed at better preparing the mutual fund industry for distressed market conditions, including a new pricing mechanism that has drawn opposition from fund managers. The market disruptions of March 2020 reinforced the fact that liquidity can deteriorate …

U.S. SEC proposes new liquidity, pricing rules for mutual funds Read More »