Wall Street lenders beat earnings estimates as investment banks rebound October 16, 2024 Morgan Stanley, Goldman Sachs, Bank of America and Citigroup all surpassed analysts' estimates for their third-quarter earnings, helped by renewed strength in their investment banks.
Bellevue Healthcare hit by ‘surprise’ shareholder exodus October 15, 2024 The £670m Bellevue Healthcare trust has been plunged into turmoil today after more than a third of its shareholders said they wanted to pull their cash from the fund. As the fund launched its annual redemption scheme, which allows investors to cash out for the price of the trust’s underlying assets, some 36 per cent [...]
Fundsmith Equity plummets down most bought list as passives dominate October 15, 2024 Fundsmith Equity, the largest investment fund in the UK, fell 12 places down Interactive Investor’s most bought list in the third quarter of 2024, as passives cemented their majority on the list. The £23.8bn fund, run by star fund manager Terry Smith, fell from eighth on the list to 20th, the biggest movement of any [...]
Investment Summit: Industrial strategy is ‘not picking winners’, Starmer insists October 14, 2024 The UK is “not in the business of picking winners” but is focused on “building on our strengths”, Sir Keir Starmer has said, as he unveiled the government’s industrial strategy at its flagship investment summit in London. The Prime Minister told the conference in the City of London today that the government’s focus was on [...]
Bosses at world’s biggest banks: Britain is ‘ready for investment’ October 14, 2024 Bosses at five of the world’s biggest banks, along with a host of insurers, private equity firms and tech giants, have backed a push to invest in the UK ahead of the government’s flagship investment summit today. More than a dozen executives signed a letter stating that they were optimistic about the future of the [...]
Polar Capital shakes off August’s market meltdown October 10, 2024 Polar Capital has reported an uptick in assets under management after the specialist fund manager shook off a hit from August's market meltdown.
City regulator: Concentration poses risk to markets October 8, 2024 The boss of the Financial Conduct Authority (FCA) said “herding behaviour” and “market concentration” were posing new risks to the financial markets today as he warned investors to brace for volatility in the long term. Speaking at the regulator’s market conference in Westminster, Nikhil Rathi said excessive daily swings had become a bigger concern to [...]
Social impact investors demonstrate ‘stability’ as market hits £10bn October 8, 2024 Britain’s social impact investment market has “once again” grown, as investors show confidence within impactful investments, a new report has revealed. According to an annual assessment by one of the UK’s largest impact investors, Better Society Capital, the social impact investment market jumped seven per cent in 2023 to £10bn, up from £9.4bn in 2022. [...]
Don’t turn the City into the ‘best regulated graveyard’, pension funds told October 7, 2024 A group of pension funds has been warned against turning the City into the “best regulated graveyard” today after they called for the boss of the London Stock Exchange to stop lobbying for reform of financial services rules. In the latest of a series of letters to the London Stock Exchange Group (LSEG), a coalition [...]
3i Infrastructure set to exit stake in French green energy firm October 7, 2024 FTSE 250 investment trust 3i Infrastructure is poised to sell its stake in French independent green energy operator Valorem in a deal worth roughly €309m (£258m).