LONDON, July 8 (Reuters) – Partners in private equity and
other alternative investment funds based in Britain face giving
up a bigger slice of their performance fee to the government in
tax after changes announced on Wednesday.
Finance minister George Osborne said they would have to pay
full capital gains tax on carried interest as part of a series
of measures to tackle tax avoidance.
MONACO, July 1 (Reuters) – BTG Pactual Global Asset
Management’s chief executive said on Wednesday the firm had cut
its exposure to Greece in the past few months but remained
positioned in Greek assets and was confident of a positive
outcome to the Greek crisis.
Greek markets and banks are shut and global markets have
yo-yoed since Greece last weekend unexpectedly called a
referendum on its bail-out package. It failed to repay a loan to
the International Monetary Fund on Tuesday.
MONACO (Reuters) – The recent sell-off in European debt due to the Greek crisis offers buying opportunities in Italian and Spanish bonds and European corporate debt, Franklin Templeton’s head of European fixed income said on Tuesday.
The head of the European Commission made a last-minute offer on Tuesday to try to persuade Greek Prime Minister Alexis Tsipras to accept a bailout deal he has rejected before a referendum on Sunday, which EU partners say will be a choice of whether to stay in the euro.
MONACO, June 30 (Reuters) – Fund managers have already
shifted Greece into emerging market portfolios, offloaded shares
in all but the most robust of Greek companies and shed billions
of euros of bond investments by moving “underweight” against
But those at the FundForum conference in Monaco say there is
little else to do except sit and wait for the outcome of
Greece’s referendum on its bail-out, which could trigger its
exit from the euro zone.
LONDON, June 18 (Reuters) – World Cup insurers are likely to refuse to pay out on many cancellation contracts if Russia and Qatar lose the rights to hold the tournaments because of fraud, industry experts said.
Russia and Qatar could be stripped of their World Cup hosting rights if evidence emerges of bribery in the bidding process, the head of the audit and compliance committee of soccer’s governing body FIFA has said.
ZURICH/LONDON (Reuters) – Tidjane Thiam starts work as CEO of Credit Suisse (CSGN.VX: Quote, Profile, Research, Stock Buzz) next month with investors optimistic he can bring about a major change of strategy at the bank, even if he has to raise cash to do it.
An expectation that the 52-year-old will successfully switch Credit Suisse’s focus to lucrative Asian wealth management and shrink its cash-intensive investment bank has propelled the Zurich-based lender’s shares around 12 percent since Thiam’s appointment was announced in March.
LONDON, June 4 (Reuters) – Most investors need to make a
significant behavioural shift and start factoring climate change
into their portfolio risk management, a study on its impact on
financial market returns found on Thursday.
Government officials are meeting in Germany this month to
work on a global deal to cut greenhouse gas emissions due to be
agreed in six months’ time in Paris. There is increasing debate
about the impact of climate change on investments, particularly
in fossil fuels.
LONDON, June 4 (Reuters) – Insurers are getting nervous
about the possibility Britain may leave the European Union,
fearing it would curb their ability to sell policies across the
continent and jeopardise years of work on a common regulatory
Britain’s new Conservative government has committed to
holding a referendum on EU membership by the end of 2017. The
threat of a British exit, or “Brexit”, has particularly alarmed
the City of London financial district, which fears a loss of
Britain’s clout in European and global markets.
ZIGUNICHOR, Senegal, May 29 (Reuters) – A mix of locals and
music fans were watching silently or dancing, framed by the
branches of the giant “fromager” tree that marks the centre of
the Senegalese village of Diembering, as hip-hop band
Tirailleurs started to sing about me.
Or at least apparently they did – if only I could understand
their Wolof language.
LONDON, May 26 (Reuters) – Britain has created an expert
group to put forward proposals on how the country can become a
centre for catastrophe bonds, used by insurers as a hedge
against disasters and other costly events from hurricanes to
The British government wants to tap into the fast-growing
$22 billion market for catastrophe bonds as low-tax hubs such as
Bermuda steal a march on London.