US funds bruised by bond losses
Every one of the most popular class of US mutual funds investing in bonds lost money in May, highlighting the risks for investors as interest rates rise. Bond yields around the world soared from some of the lowest levels in decades last month as investors anticipated an end to the extraordinary measures the Federal Reserve has used to stimulate the US economy.
BlackRock plans cross-border ETF
BlackRock is leading an ambitious plan to create a single market for exchange traded funds in Europe by launching a new ETF that bypasses the existing system.
Carlyle takes over Dutch fund
Carlyle Group has offered to buy the 40 per cent stake in Dutch fund of funds manager AlpInvest, giving the US private equity group greater control of a large investor in many of its rivals’ funds.
Jamie Oliver gets bigger pizza base
The Jamie’s Italian restaurant chain will today unveil plans to open 25 to 30 overseas outlets within three years
Strike threat over O2 call centre
O2 is set to be the target of the first industrial action to hit the British telecoms industry in more than 25 years over its plan to outsource thousands of jobs to Capita.
The Daily Telegraph
Personal loans at record low of 4.9pc
Personal loan rates have fallen below 5 per cent for the first time as lenders intensify their price war. Hitachi, the financial arm of the giant Japanese conglomerate, has undercut other lenders.
Holiday firm Iglu buys Planet Cruise
Iglu.com has bought Planet Cruise to create a firm with sales of £135m.
THE WALL STREET JOURNAL
BP budgets $1bn for Alaska drilling
BP will spend at least $1bn to increase its drilling activity in Alaska over the next five years, the company said yesterday.
SUVs and pickups push auto sales up
Strong demand for new pickup trucks and sport-utility vehicles boosted US sales in May for major auto makers, but some analysts questioned whether the market’s recovery is starting to level off.