Boutique asset managers from Europe, Latin America and Asia have launched a self-help group to lead a fightback against the growing dominance of “powerful, well-resourced, global players”.
I was pleased to hear the City grandee lawyer Anthony Salz, right, in his independent review of Barclays' corporate culture last week, echo a point that I've been making for some time about bankers' pay.
"The developed world, in general, has more challenges fiscally than the developing world,"
As a child of the bear market, I have been used to changing trends, but the stark underperformance of Emerging Market (EM) equities versus developed world equities is not something we have become used to in rising markets.
“So many people are taking advantage of government support that they probably feel like, why shouldn’t they take advantage of it, too?” said George Walper Jr., president of the Spectrem Group
Pope Francis, who has said he wants the Catholic Church to be a model of austerity and honesty, could restructure or even close the Vatican's scandal-ridden bank as part of a broad review of its troubled bureaucracy, Vatican sources say.