Who were 2020’s highest-paid hedge fund managers? February 22, 2021 While other parts of the economy took a kicking amid the pandemic, the hedge fund elite seemed to weather the storm. Institutional Investor’s 20th edition of its Rich List reveals the top 25 hedge fund managers banked a cool $32bn last year. Overall hedge funds returned 11.6 per cent last year, their best performance in [...]
Are politicians tech-savvy enough to tackle social media giants? February 22, 2021 The news has been full of tech stories in what little we’ve seen of 2021: Facebook’s decision to ban news content on its site in Australia, Google’s threat to withdraw its service altogether from Australian users in light of legislation which would oblige tech platforms to pay for news, and Twitter’s intervention by suspending former [...]
Citadel billionaire questions economic value of Bitcoin February 22, 2021 Ken Griffin - a key player in the financial world - says Bitcoin isn't something he thinks about.
Tom Hayes Libor conviction being examined for miscarriage of justice February 22, 2021 Tom Hayes’ conviction for rigging Libor interest rates is being examined by the Criminal Cases Review Commission, a body set up to review allegations of miscarriages of justice. The former UBS trader was found guilty of manipulating Libor in 2015, making him the first trader convicted by jury of rigging Libor global interest rates. He [...]
A wealth tax could raise as much as £55bn – but is it really the answer? February 22, 2021 Our friends at Tortoise are hosting an all-day summit on the Future of Money this coming Thursday. They’ve opened up the exclusive event to a small number of City A.M. readers, who can register here with the code GUESTOFCITYAM. Here, Tortoise’s Kim Darrah and Giles Whittell look at what a mooted wealth tax could mean [...]
Tory MPs push for Easter reopening of hospitality in lockdown roadmap February 22, 2021 The Tories’ group of lockdown sceptic MPs are pushing Boris Johnson to reopen hospitality by Easter in his roadmap out of the current Covid lockdown. The forty-strong Covid Recovery Group (CRG) of Conservative MPs want the Prime Minister to outline a full reopening for the sector by 4 April, with the UK’s pubs lobby backing [...]
Student housing firm Scape signs £500m joint venture with pension investor APG to fund expansion February 22, 2021 Student accommodation developer Scape has secured a £500m joint venture with pension investor APG to fund its expansion into mainstream housing. The joint venture is seeded with around 1,000 student rooms in London and the south east, a £250m mixed use residential and student development in Canada Water and the first Scape mainstream project in [...]
Global dividend payments fared better than expected due to strong fourth quarter February 22, 2021 Global dividend payouts fared better than expected last year after a strong fourth quarter kept total cuts to $220bn. Janus Henderson’s latest Global Dividend Index reveals that although payments fell 12.2 per cent over the year, it was better than the previously forecasted $1.2 trillion. This was largely because fourth quarter cuts were less severe, [...]
Forget grants, scrap VAT on green products for to supercharge the renewable revolution February 22, 2021 There’s a lot of talk about lowering carbon emissions and reaching ‘net zero’ ahead of the UK hosting COP26, the UN climate conference later this year. Businesses are committing to ambitious targets, renewables have overtaken coal, and there’s record investment in green technology. At the same time, the production of new jargon and acronyms in [...]
City A.M. TV: Daily Market Snapshot (video) February 22, 2021 After a false breakout to the upside in equity markets early last week, momentum has shifted sharply to the downside. With that, there has been further weakness in key equity index futures markets in Asian trading overnight. As a result, there are now two key factors that we are watching to judge when the downside has played out and, therefore, when to reinstate LONG positions. Those [...]
