The majority of hedge funds are passing on charges for investment research to investors under new European Union rules, despite years of poor average performance and as many large traditional asset managers absorb the cost themselves. Billing clients, however, could prove increasingly untenable for
British insurer Legal & General is aiming for annual operating profit growth of 8 to 10 percent at its fund management business as part of a broader overhaul that includes plans to expand internationally. Legal & General Investment Management (LGIM), one of the world's largest asset managers with
The U.S. cafe chain on Tuesday same-store sales would be flat to slightly negative in its second-biggest market in April-June, versus 7 percent growth a year earlier. The announcement was followed by a 9 percent drop in Starbucks' share price. China has been a sweet spot for Starbucks for the past
Jun.21 -- Analysts expect the Bank of England to vote in favor of keeping rates unchanged today after a run of mixed economic data. Daniela Russell, head of U.K. rates strategy at HSBC, previews the policy decision on "Bloomberg Daybreak: Europe."
The five heavyweight stocks also powered the Nasdaq Composite to a record high and helped the broader S&P 500 shrug off concerns over tariffs between the United States and China. Trade war worries have limited the benchmark S&P 500's gain to about 3.5 percent this year, but the FAANG group, whose
The European Central Bank is confident inflation is on the right track although the spectre of protectionism and other risks including Brexit are adding to broader economic uncertainty, ECB policymaker Francois Villeroy de Galhau said on Thursday. Speaking at a conference at the French central bank
Malaysia said on Thursday it will provide up to 2.8 billion ringgit (530 million pounds) to complete an integrated financial district from which more than 3 billion ringgit was diverted to pay debts of scandal-plagued 1Malaysia Development Berhad (1MDB). Finance Minister Lim Guan Eng said the decision
Dixons Carphone (Frankfurt: CWB.F - news) has reported a 28% fall in annual profits, with its new chief executive admitting "we have plenty of work to do" as the firm battles back from a damaging hack on customer bank details. The company, which employs more than 40,000 staff and is behind
Megafon, Russia's No.2 mobile phone operator, reported a 57 percent jump in its telecom segment first-quarter net profit to 6 billion roubles helped by smaller foreign exchange losses and a switch to new ...
LONDON (Reuters) - Autos stocks were the outlier in a continued relief rally in European shares on Thursday, sinking after German carmaker Daimler warned profit would be hit by higher tariffs.
Dixons Carphone has been hit by the lack of technical innovation in mobile phones, meaning customers are updating their handsets less frequently. The new Dixons Carphone boss, Alex Baldock, has underlined his warning that fixing the retailer’s problems will take time, as he reported a 24% plunge in
Jun.21 -- Khalid Howladar, the founder and managing director of ratings advisory firm Acreditus, talks about this week's OPEC meeting, and credit spreads in the Middle East. He spoke on June 18 with Manus Cranny on "Bloomberg Daybreak: Middle East."
VIENNA (Reuters) - An increase in oil supply would be acceptable if justified from the demand side and agreed upon by all OPEC members, a source familiar with Iranian thinking said on Thursday.
Jun.21 -- Daimler AG became the first prominent company to cut its profit outlook due to escalating trade tensions between the U.S. and China, claiming Chinese customers will now buy fewer cars after Beijing has slapped tariffs on U.S. auto imports. James Athey, an investment manager at Aberdeen Standard
At least three U.S. coal shipments on their way to China may end up casualties of the escalating trade dispute after Beijing said it would impose steep tariffs that may kick in before the ships reach their destinations. The addition of coal to the list of more than 650 items facing higher tariffs came
RIYADH (Reuters) - Saudi Arabia could attract 150 billion riyals (30.38 billion pounds) worth of foreign inflows from both passive and active funds, a Saudi official said, after index provider MSCI decided to add the Saudi bourse to its emerging markets benchmark.
KUALA LUMPUR, Malaysia (AP) — Malaysia says it will not cancel a skyscraper project billed as the tallest in the region even though 3 billion ringgit ($747 million) from the venture has been misappropriated by the 1MDB state fund linked to former premier Najib Razak.
Those scouring the FTSE 250 (INDEXFTSE: MCX) for big-paying dividend shares need to give this collection of stocks more than a passing glance.
TOKYO (Reuters) - Around a quarter of Japanese firms have made progress on meeting some of the easier requirements under Europe's new data privacy regulations while another 20 percent plan to do so - but very few are prepared for more onerous rules, a Reuters poll found.
Around a quarter of Japanese businesses have made progress on meeting some of the easier requirements under Europe's new data privacy regulations while about another 20 percent plan to do so, a Reuters poll found. The results of the Reuters Corporate Survey, conducted June 4-15, shows only modest