Small Business Saturday Is the Loneliest Shopping Holiday

Small Business Administration chief Maria Contreras-Sweet was in New York City yesterday to promote Small Business Saturday, which is Main Street’s bid for post-Thanksgiving shopping dollars.

China Overtakes Japan as World’s Second-Biggest Stock Market

China surpassed Japan as the world’s second-largest stock market for the first time in three years amid growing investor confidence that policy makers in Beijing will revive the economy with monetary stimulus.

Low oil prices are a free-market victory

Seldom has so much good news been portrayed so negatively. Oil prices continue to fall in the U.S. and around the world, but near everyone in the media is grumpy about it.

Sovereign fund forum has no plan to include central banks - official

DOHA (Reuters) - The International Forum of Sovereign Wealth Funds (IFSWF) will not invite central banks to join its ranks as they do not fit the group's definition of such a fund, a board member said on Thursday.

Former Permal Managing Director Plans Asia Fund of Hedge Funds

Steve Zhang, a former head of emerging markets investments at the Permal Group, plans to raise as much as $40 million by February for his own company to invest in hedge funds in the Asia-Pacific region.

Canada Funds Said Nearing Telesat Deal Valued at $7 Billion

Ontario Teachers’ Pension Plan and Public Sector Pension Investment Board are nearing a $7 billion deal for Canadian satellite company Telesat Holdings Inc. after months of delays and discussion breakdowns, people with knowledge of the matter said.

China's benchmark money rate falls 48 bps after surprise easing

(Reuters) - China's benchmark money rate fell 48 basis points to 3.18 percent on Monday, after the central bank unexpectedly cut benchmark lending rates by 40 basis points on Friday.

Japanese stock funds worldwide attract $1.2 billion inflows - Bank of America

NEW YORK (Reuters) - Investors worldwide poured $1.2 billion (0.76 billion pounds) into Japanese stock funds in the week ended Nov. 19 on the Bank of Japan's increased stimulus and a delay to the country's planned sales tax hike, data from a Bank of America Merrill Lynch Global Research report showed on Friday.

China ‘triple bubble’ points to long slide for commodities

NEW YORK (MarketWatch) — The “commodity super cycle” is dead. Now, it’s time to get used to the “commodity super down cycle, and China is the biggest reason why, warn strategists at Credit Suisse in a Thursday note.

Retail sales rise in October amid widespread discounting

Shoppers gave George Osborne a pre-Christmas boost as they took advantage of falling prices in October to boost high street sales, according to official figures.

China wasted $6.9 trillion on bad investment post 2009: media

(Reuters) - China wasted an approximate 42 trillion yuan ($6.9 trillion) on "ineffective investment" in the five years from 2009, with the problem worsening in the past two years, a government official and an economist were quoted as saying in the local media.

Opinion: Where will public investors put their $29 trillion?

Sovereign investors around the world are raising their heads ever higher above the international financial parapet.

Hedge Funds Reversed or Reduced Losses With October Rally

Had October ended a week sooner, hedge fund manager Ken Tropin would have had much a tougher letter to write to his investors.

Property asking prices fall as keen sellers seek winter buyers

Homeowners keen to attract buyers in the quieter winter months are asking less for the properties than those that came onto the market in October, as high prices and new mortgage lending rules have put a temporary brake on the “mini-boom” in the housing market, Rightmove said on Monday.

Russia prepares to invest wealth fund in banks

(Reuters) - Russia has prepared legal changes that would enable the government to invest up to 20 percent of its National Wealth Fund (NWF) in subordinated debts of banks, according to a document published on a government website.

Iran to draw on sovereign fund to withstand oil price slide

(Reuters) - Iran will draw on its sovereign wealth fund to cope with damage to its economy from plunging global oil prices, Iranian Oil Minister Bijan Zanganeh was quoted by the ministry's news agency Shana as saying.

Italy’s Bonds Rise With Spain’s as Official Signals ECB Stimulus

Italian and Spanish bonds rose for the first time in three days as European Central Bank policy maker Christian Noyer said in an interview officials would consider buying government debt to stimulate euro-area growth.

Housing market dip only temporary, says Rics

A dip in activity in the UK housing market and slowing property prices will only be "temporary", surveyors say.

Next U.S. Senate budget chief wants short-term spending extension

(Reuters) - U.S. Senator Jeff Sessions, expected to chair the Senate Budget Committee next year, on Wednesday called on his fellow Republicans to press for a short-term spending extension that would give them leverage over President Barack Obama's immigration actions.

China and Qatar buying London properties

The city's real estate has attracted four times more capital than New York -- the Number 2 choice of foreign governments.

Putin says China, Russia to settle more trade in yuan

(Reuters) - Russia and China intend to increase the amount of trade settled in the yuan, President Vladimir Putin said on Monday in remarks that would be welcomed by Chinese authorities who want the currency to be used more widely around the world.

The wealth funds clinching the most deals are ...

Singapore's Temasek and GIC were the most active sovereign wealth funds last year, chasing investments even as deal-making by their peers, especially China, dropped sharply, according to a new report.

China’s Trust Assets Expand Least Since 2010

China’s trust assets grew the least since 2010 in the third quarter as regulators tried to limit shadow banking risks and investors grew more wary of defaults.

Germany disappoints with new investment pledge

(Reuters) - German Finance Minister Wolfgang Schaeuble announced 10 billion euros in additional public investments on Thursday but said Berlin would only splash out more money once it had achieved its goal of balancing the federal budget next year.

Gulf Region Investment in U.S. Real Estate Surges 51%

Persian Gulf investors from sovereign wealth funds to rich individuals increased spending on U.S. real estate, attracted by the pace of economic growth, a survey by Jones Lang LaSalle Inc. showed.

GIC’s Blackstone Warehouse Pursuit Signals Appetite for Property

GIC Pte’s planned purchase of Blackstone Group LP’s U.S. industrial property company signals the Singapore sovereign wealth fund’s appetite for real estate as investments by other state funds wane.

Living wage increases to £7.85 an hour

The living wage has increased by 20p an hour to £7.85, boosting the pay of 35,000 low-paid workers in the UK.

Evercore Private Funds Group Strengthens Asia Pacific Presence

Evercore (EVR) announced today that its Private Funds Group has made two new hires in its Hong Kong office, expanding the team’s current activities in the Asia Pacific region.

Many top sovereign funds fail on governance, transparency - report

LONDON, Oct 28 (Reuters) - A majority of the world's largest sovereign wealth funds lack transparency and adequate governance, with those in the Gulf region scoring particularly low, according to a report published by political risk group GeoEconomica.

U.S. consumer spending falters; wage gains highest since 2008

(Reuters) - U.S. consumer spending fell for the first time in eight months in September, suggesting the economy lost some momentum heading into the fourth quarter.

Singapore's GIC takes 20% stake in Turkish real estate firm

Singapore sovereign wealth fund GIC will inject 250 million euro ($314.3 million) to acquire a strategic stake in Turkey's leading commercial real estate developer Ronesans Gayrimenkul Yatirim (RGY), both firms said Thursday.

Pimco Replaced by BlackRock at $6 Billion Prudential Fund

Pacific Investment Management Co., seeking to stem redemptions after its co-founder Bill Gross left unexpectedly, was dropped as manager of a $6.16 billion strategy offered by a unit of Prudential Financial Inc.

Capital spending softens, but consumer confidence rises

(Reuters) - Demand for U.S.-made capital goods recorded its biggest drop in eight months in September, a cautionary note for an economy that otherwise seems to be moving forward at a steady clip.

ECB's Praet says risk of price deflation limited: paper

(Reuters) - The risk of price deflation in the euro zone is limited and ECB figures suggest a much lower probability than those of the International Monetary Fund, ECB chief economist Peter Praet told two Belgian newspapers.

Record Bets Against Japan Stocks Tell Investors Time to Buy

As bets pile up against Japanese stocks, investors with $293 billion in client assets see the pessimism as a signal to buy. History is on their side.

Market jolt is reality check for investors

NEW YORK (AP) -- Sometimes a little fear is healthy for stock investors. Nine days ago, after a series of sharp sell-offs, the Standard & Poor's 500 index was down 7.4 percent from its September record as fears of a global economic slowdown intensified.

Goldman Asset Snaps Up Aussie Banks as Concerns Overdone

A selloff in Australian bank shares was too good to miss for Goldman Sachs Asset Management.(GSGEPPA)

UK GDP: Service sector slowdown drags on recovery hopes

Slower growth in the dominant services sector sapped the recovery’s momentum in the latest quarter, according to official figures today.

Fed lays out scenarios for 2015 bank stress tests

(Reuters) - The U.S. Federal Reserve said on Thursday it would assume wider corporate bond spreads and a higher oil price in the most strenuous scenario it will use in next year's run of its annual check of banks' health.

Argentina Hedge Fund Startup Leverages Rich Client Money

Three years ago, Daniel Melhem was kicked off a government delegation from Argentina that was trying to drum up investors from the Middle East after he said no one would be interested.

Price comparison sites accused of hiding best energy deals from customers

Comparison sites have been accused of misleading consumers by not showing them the best deals.The warning comes from a collective bargaining website, which claims the big five switching firms filter out energy tariffs that don’t pay commission.

Hedge Funds Cut Bullish Bets on Crude as Prices Tumble

Plunging oil prices spurred hedge funds to cut bullish wagers by the most in six weeks, losing confidence in the willingness of producers to constrict supply. Money managers cut net-long positions in West Texas Intermediate by 8.1 percent in the week ended Oct. 14.

Chinese investors bet on first rate cut in two years as growth slows

(Reuters) - A dramatic fall in Chinese interest rate swaps (IRS) this week suggests markets are betting a run of weak economic data will force the central bank to cut its benchmark deposit rate for the first time in over 2 years to support growth.

Fed lists problems with banks' stress test submissions

(Reuters) - Banks' reliance on poor risk models is among the problems the Federal Reserve found in its health check of the largest U.S. financial institutions, as the Fed explained for the first time on Friday what it thinks of this year's industry submissions.

Family farms produce 80 percent of world's food, speculators seek land

ROME (Thomson Reuters Foundation) - Despite renewed interest in industrial agriculture by investment banks and sovereign wealth funds, more than 80 percent of the world's food is still produced by family farmers, according to new U.N. research published on Thursday.

Seven reasons the world's stock markets are falling

European markets are in panic mode with all major indices down sharply. It follows a widespread sell-off on both sides of the Atlantic on Wednesday.Here are seven reasons why investors are so nervous:

Global wealth soars to $263 trillion, as inequality swells: study

Global wealth skyrocketed 8.3 percent over the past year to a record $263 trillion, but the distribution of the riches has also become increasingly unequal, a Credit Suisse (NYSE: CS - news) report said Tuesday.

Investors With Over A$15 Million Targeted in New Australian Visa

Australia will offer a new visa to foreigners with more than A$15 million ($13 million) to invest and who want to make the country home.

Bank of Italy says budget delay justified to spur growth

(Reuters) - Italy would be justified in delaying its balanced budget target by a year if the resources freed up were used to help stimulate growth, a senior Bank of Italy official said on Monday.

Fed's Tarullo: global downside risks are policy factor

(Reuters) - Downside risks to the global economy are a factor the Federal Reserve will have to consider even as the U.S. economy recovers from the 2007-2009 financial crisis, Fed Governor Daniel Tarullo said on Saturday.

Fitch Affirms Kazakhstan's Sovereign Wealth Fund Samruk-Kazyna at 'BBB+'; Outlook Stable

MOSCOW/MILAN/LONDON, October 10 (Fitch) Fitch Ratings has affirmed Kazakhstan's Joint Stock Company Sovereign Wealth Fund Samruk-Kazyna's (SK) Long-term foreign currency Issuer Default Rating (IDR) at 'BBB+', Long-term local currency IDR at 'A-', National Long-term rating at 'AAA(kaz)' and Short-term foreign currency IDR at 'F2'.

India close to allowing Euroclear settlements for sovereign funds - sources

NEW DELHI/MUMBAI (Reuters) - India is close to allowing sovereign wealth funds to settle government bonds on Euroclear, the world's largest securities settlements system, and is likely to set aside up to $3 billion for these long-term investors, according to two officials aware of the discussions.

German exports plunge by largest amount in five-and-a-half years

(Reuters) - German exports slumped by 5.8 percent in August, their biggest fall since the height of the global financial crisis in January 2009, in yet another sign that Europe's largest economy is faltering amid broader euro zone weakness and crises abroad.

Calpers Boosts Property Investments as Hedge Funds Shrink

The California Public Employees’ Retirement System, the biggest U.S. fund, is increasing investments in real estate by about $6 billion within a year as it begins to exit hedge funds.

Wall Street profits weighed down by fines in 2014: New York State Comptroller

(Reuters) - Wall Street's profits fell in the first half of the year due to fines related to the 2008-2009 financial crisis, a trend that will likely continue for the remainder of the year, New York state's top financial watchdog said on Tuesday.

Boris Johnson: Britain needs 'gigantic' pension funds to help build new roads

Britain's public sector pensions should be merged to create "gigantic" sovereign wealth fund which can invest in the roads, railways and airports that "this country is crying out for", Boris Johnson has said.

German central bank chief criticises ECB asset purchase plan

Berlin (AFP) - Germany's central bank chief Jens Weidmann voiced concern about the European Central Bank's latest asset purchase plan to stimulate the eurozone's moribund economy, in an interview published Sunday.

Janus Set to Disappoint Even With Gross, Citigroup Says

Janus Capital Group Inc. (JNS), which last week hired Pacific Investment Management Co.’s Bill Gross to boost assets, may not attract as much as traders and analysts expect, according to a research report by Citigroup Inc.’s William Katz.

Weak yen positive for economy if synchs with fundamentals: BOJ's Kuroda

(Reuters) - Bank of Japan Governor Haruhiko Kuroda said on Friday that the yen's weakening is broadly positive for the Japanese economy as long as it reflected the underlying fundamentals.

ECB's Draghi says ready to do more to fight low inflation

(Reuters) - The European Central Bank is ready to use further unconventional policy tools if needed to stave off the risk of inflation remaining too low for too long, ECB President Mario Draghi said on Thursday.

Nigeria’s Opposition Wants to Scrap Sovereign, Oil Funds

Nigeria’s main opposition party said it will scrap the country’s sovereign wealth fund and a separate excess crude account if it wins elections in February.

IMF sees diminished risk from global economic imbalances

(Reuters) - Global imbalances in trade and investment flows have shrunk by more than a third since peaking eight years ago and are likely to stay lower in the future, diminishing their threat to the global economy, the International Monetary Fund said on Tuesday.

Euro Drop to $1.20 Seen by Nomura on No Crisis: Chart of the Day

The euro will weaken more than 5 percent against the dollar by June in a slide that option traders forecast will be slower than the tumble during Europe’s debt crisis in 2012, according to Nomura Holdings Inc.

Consumerism booms as Cambodia embraces once-forbidden capitalism

(Reuters) - Chy Sila has come a long way since he invested his $500 life savings in a small shop in Cambodia's capital to sell bootleg music and pirated movies.

GIC’s RAC Investment Signals More Private-Equity Deals to Come

GIC Pte’s investment in U.K. roadside assistance company RAC Ltd. shows the state fund’s commitment to private equity, an asset class that will attract more sovereign funds, according to IHS Global Insight. (INSDHYS)

House prices in England and Wales stagnate in September: Hometrack

(Reuters) - Asking prices for houses in England and Wales flatlined in September for the first time in 19 months, according to a survey on Friday that showed a small fall in prices in London.

Draghi raises QE hopes again

The European Central Bank is ready to use a bigger bazooka to jump start growth and inflation in the euro-area should its existing measures fail to have an effect, said Mario Draghi.

Biggest Wealth Fund CEO Sticks to Norway in Own Investments

As head of the world’s biggest sovereign wealth fund Yngve Slyngstad has invested in more than 80 countries. Yet when placing his own money, he sticks to his home country Norway.

George Osborne likely to miss deficit reduction target as UK borrowing rises

The chancellor is on course to miss his deficit-cutting target this year, according to the latest figures, giving him a headache in the run up to the 2015 election when the economy takes centre stage.

Bundesbank says German economy robust but cautions on August

(Reuters) - Germany's economy remains robust, the country's central bank said on Monday, predicting a generally positive end to the year despite a slowdown so far.

What will make stocks go even higher?

Stocks hit fresh records last week after the Federal Reserve soothed investors' concerns by indicating that it's probably not going to raise interest rates anytime soon.

China to give foreign banks easier market access

In a major bid to liberalise its banking sector, China has announced that it will lift a ban on foreign banks from opening more than one branch in a Chinese city, a move which could lead to Indian banks setting up more branches in the country.

Fed's Fisher: wages rise when joblessness drops below 6.1 percent

(Reuters) - The United States could be on the verge of a worrisome surge in wages if unemployment continues its downward trend, based on research Dallas Federal Reserve Bank President Richard Fisher presented to his colleagues at the Fed's policy-setting meeting this week.

Europe shares close higher on Fed relief, ECB

European shares closed higher on Thursday after an announcement from the European Central Bank (ECB) on how it will make key decisions in the future.

EBRD bank slashes outlook for Russian economy

London (AFP) - Russia's economy will contract next year as a result of the crisis with Ukraine, the EBRD development bank forecast on Thursday after slashing its prediction for growth.

Sovereign fund code seeks new members among central banks

LONDON, Sept 12 (Reuters) -Signatories to an international set of guidelines on governance and transparency for sovereign wealth funds are exploring whether to take in a wider pool of state-backed investors including central banks.

A Scottish currency is still likely to be the toughest test for Holyrood

There is no doubting the emotional appeal of independence. For many Scots the positive lure of self-determination is perhaps matched only by the satisfaction of banishing control from Westminster.

AFRICA INVESTMENT-Africa sovereign funds tread tricky path on investments

LONDON, Sept 11 (Reuters) - As the oil producers of sub-Saharan Africa rush to create sovereign wealth funds, competing pressures to boost living standards now while saving for the future can throw up as many problems as they solve.

Europe's big banks in tentative return to growth mode

LONDON, Sept 12 (Reuters) - Europe's big banks returned to growth mode in the first half of this year, expanding their books by 530 million euros ($685 million), in a sign they are starting to get back on their feet after the financial crisis.

Scottish 'Yes' vote poses significant risk to UK growth forecasts

(Reuters) - If Scotland votes for independence next week, existing consensus forecasts predicting Britain will enjoy some of the best economic growth in the developed world could well be scuppered, a Reuters poll found.

Number of £1m homes sold in London 'to rise by almost half in five years'

The number of homes sold in London for £1m or more will go up by almost half by 2018 as house prices and prosperity soar in the capital, an estate agency has said.

Analysis: Tsunami of sovereign funds threatens world markets, say investors

LONDON (Reuters) - With returns on government bonds at rock-bottom prices, sovereign wealth funds are muscling into stock markets and other higher-yielding assets like real estate at a rate that private investors warn could destabilize the world economy.

Schaeuble proposes scrapping Germany's 'solidarity tax': regional press

(Reuters) - German Finance Minister Wolfgang Schaeuble has proposed scrapping the "solidarity tax" that supports the country's poorer eastern states when it expires in 2019, a German newspaper reported on Tuesday.

Russia's PM signals $40 billion state help for Rosneft possible: Vedomosti

MOSCOW (Reuters) - Russian Prime Minister Dmitry Medvedev said that the state oil champion Rosneft , in need of funds to service its huge debt, may receive 1.5 trillion roubles ($40.6 billion) from state coffers over time, Vedomosti newspaper said on Monday.

Searching for growth in Europe, clarity in China

BRUSSELS (Reuters) - The euro zone's struggle to avoid another recession will take center stage in the coming week in the absence of major U.S. data, as investors mull whether the ECB's new asset-buying plan is a prelude to even more radical steps.

U.S. Fed should end guidance on timing of policy change: Rosengren

(Reuters) - Given the "significant" slack in U.S. labor markets, the Federal Reserve should be patient about reducing monetary policy stimulus and refrain from telling markets exactly when it may raise rates, a top Fed official said on Friday.

GIC gives private equity firms run for their money

Singapore – In the first half of this year, Singapore’s GIC agreed to pay up to $310 million for minority stakes in two unlisted Philippine companies: Food producer Century Canning Corp. and hospital group Metro Pacific Investment Corp.

Brigade, Singapore's GIC to invest $248 mln in Indian property sector

NEW DELHI (Reuters) - Indian developer Brigade Enterprises (BRIG.NS) and Singapore's sovereign wealth fund GIC Pte Ltd have agreed to jointly invest 15 billion rupees ($248 million) in residential real estate projects in south India, the companies said.

UN urged to swoop on vulture funds

More than 130 developing countries have called on the UN to stop so-called vulture funds undermining debt restructuring deals like those at the centre of Argentina's US court battle.

Putin says spending from Russia's sovereign fund can't be raised: Interfax

(Reuters) - Russia cannot spend more of the $83 billion parked in its National Wealth Fund (NWF), President Vladimir Putin said on Monday, after the government recently raised the cap on how much of the fund can be used for domestic investments.

Neil Woodford sells all his HSBC stock due to 'fine inflation'

One of the UK's best-known investors has sold all his stock in HSBC, warning that "fine inflation" means the bank is too risky an investment.

Divisions Grow as a Downturn Rocks Europe

PARIS — Six years after being struck by economic crisis, Europe is facing a fresh downturn, with few new ideas on the table for reigniting growth and deepening political divisions over the austerity policies that many blame for worsening the malaise.

Economic sanctions spare Western-tied Russian fund

WASHINGTON (AP) — Western business connections are complicating efforts to bring economic sanctions against executives and companies closely aligned with Russian President Vladimir Putin's inner circle.

China funds cut suggested equity allocations as hopes for recovery evaporate: Reuters poll

(Reuters) - Chinese fund managers will cut the proportion of their portfolios invested in stocks over the next three months, following July's upward trend, as hopes for a quick economic recovery falter, a Reuters poll shows.

Weaker corporate tax receipts worsen U.S. budget picture

(Reuters) - The U.S. budget picture will likely worsen this year as companies wait to see what actions Congress will take on taxes in coming months, a report from the Congressional Budget Office showed on Wednesday.

Singapore's GIC in final talks to buy Tokyo building for $1.6 bln -sources

TOKYO, Aug 25 (Reuters) - Singapore's sovereign wealth fund GIC Pte is in final talks to buy a Tokyo office tower for about 170 billion yen ($1.6 billion), three people with direct knowledge of the deal said, in what would be Japan's biggest property transaction since the global financial crisis.

Zimbabwe economy: Investments plunging, says bank governor

Foreign investment in Zimbabwe more than halved in the first six months of the year, the country's central bank chief John Mangudya has said.

Foreign investors flock to India to meet debt issuers as outlook turns rosier

MUMBAI: A host of foreign investors and funds will be meeting corporate leaders in India next month, the first time since the global financial crisis, signifying changing perception about the country's growth potential.

Home and Jobs Data Suggests Momentum

WASHINGTON — Sales of existing homes in the United States rose in July to a 10-month high, and the number of Americans filing new claims for unemployment benefits fell last week, signaling strength in the economy early in the third quarter.

Canada Stocks Fall as Oil Drops, Royal Bank Slips After Earnings

Canadian stocks fell a second day, retreating from a record, as energy producers slumped with crude posting the longest losing streak in nine months and investors weighed earnings from Royal Bank of Canada.

Mum's the word on soaring Swedish household debt as poll nears

(Reuters) - Johan and Alejandra are the kind of Swedes the IMF has been warning about - piling up debt to keep up with an ever-rising property market and fund a lifestyle of travel, maids and nights out.

As Fed debates rate path, focus on jobs data stirs its own debate

(Reuters) - The Federal Reserve's intensive focus on a wide range of labor market data to guide policy-making is driving a wedge between its core decision-makers and others who feel the central bank is straying from traditional guideposts.

Traders Keep Calm and Carry on Through BOE’s Rate Debate

Confused by the seemingly contradictory signals from the Bank of England on interest rates?

London hedge fund executives see pay packets halve as bonuses plummet

Hedge fund executives in London saw bonuses plummet last year, resulting in their pay packets being less than half of what they were 12 months ago.

Goldman Halts Efforts to End $1B Libya Fund Lawsuit

The Goldman Sachs Group, Inc. (GS) stopped its attempt to dispose a $1billion lawsuit filed by the Libyan Investment Authority (:LIA), a sovereign wealth fund at London’s High Court.

What hedge funds are buying

The 50 largest funds snapped up shares of big health care names such as Allergan (AGN), Actavis (ACT), and Covidien (COV) in the second quarter in an effort to capitalize on the wave of mergers and acquisitions in the sector, according to data from FactSet.

CVC Looks To Cement Deal With Sovereign Funds

The private equity firm CVC Capital Partners is joining forces with some of the world's biggest sovereign wealth funds to bid for £4bn of cement assets that would make it a major player in the building materials sector.

London housing boom shows signs of cooling as sales stumble

The London housing market stumbled in July as sales dropped and inquiries fell at their fastest rate since the onset of the credit crisis, in a further sign that the UK property market is cooling.

U.S. retail sales pause, seen rebounding in months ahead

(Reuters) - U.S. retail sales unexpectedly stalled in July, pointing to some loss of momentum in the economy early in the third quarter.

Hedge Fund Myriad Increased Herbalife Stake in Second Quarter

Myriad Asset Management Ltd., the Hong Kong-based hedge fund led by a former Asia head of Highbridge Capital Management LLC, raised its stake in Herbalife Ltd. (HLF) in the second quarter, according to a filing.

UK retailers say sales rose in July, driven by furniture

(Reuters) - British retail sales growth rose in July, driven by an upturn in furniture spending and other non-food purchases, according to figures from the British Retail Consortium (BRC) on Tuesday.

Traders brace for research crackdown as easy money dries up

(Reuters) - Regulatory pressure to undo the traditional way brokers sell research alongside share dealing is alarming traders in Europe, who fear a further drop in business and more cost-cutting in an already tough environment.

Apollo Pushing Short Credit Fund Amid ’Danger Signs’

Leon Black’s Apollo (APO) Global Management LLC is raising a new fund to bet against corporate credit as concerns grow over deteriorating debt markets.

Singapore economy expands 3.5% in first half: PM

Singapore's trade-sensitive economy grew 3.5 percent in the first half and was on track for 2.5-3.5 percent expansion this year, Prime Minister Lee Hsien Loong said Friday.

European Bond Traders Suffer High-Yield Anxiety on Losses

Warning signals are starting to flash for Europe’s biggest money managers as a selloff in the U.S. high-yield bond market shows signs of crossing the Atlantic.

Foreigners Expanding Australian Property Options, Invesco Says

Foreign investors, who traditionally focus on Sydney and Melbourne office buildings, are turning to properties in other cities amid rising competition for assets, according to Invesco Ltd.

U.S. Treasury to conduct test bond buyback operations

(Reuters) - The United States will buy back debt in the coming quarter for the first time since 2002 to make sure its computer infrastructure is adequate for any future buyback operations, the U.S. Treasury said on Wednesday.

Kazakhstan Grapples With Reform of Sovereign-Wealth Fund

When Astana launched its sovereign-wealth fund in 2008, authorities asserted that Samruk-Kazyna would modernize Kazakhstan’s economy and help attract foreign investors.

UK bank lending lags G7, more help needed: survey

(Reuters) - British bank lending to the corporate sector lagged lending in other Group of Seven leading economies last year, despite government attempts to boost the availability of credit, a survey showed on Monday.

Institutions shift to exchange-traded funds as futures grow costly

Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.

RBS warns of risks of foreign exchange inquiry and Scottish independence

Royal Bank of Scotland has warned that the ongoing investigation into potential manipulation of the foreign exchange markets could hit profits.

August anxiety: Stocks slumping again

The calendar may have changed to August but stocks have resumed their late July tumble. The market opened flat Friday in response to another healthy jobs report, but by midday the Dow was down more than 100 points.

Ukraine conflict: New EU sanctions hit top Putin aides

A former judo sparring partner of Vladimir Putin is among three of the Russian president's close aides on a new EU sanctions list.

Institutions shift to exchange-traded funds as futures grow costly

NEW YORK, July 29 (Reuters) - Institutional investors, like endowments and sovereign wealth funds, are trading some of their stock futures contracts for exchange-traded funds, an action they say saves them money and effort while providing comparable returns.

Global Holdings of Indian Bonds Jump to a Record as Limits Eased

Global holdings of Indian bonds surged to a record after the nation eased investment rules for foreigners buying government notes last week.

Ireland to give green light for hedge funds to lend

(Reuters) - Ireland, one of the biggest hubs for funds in Europe, will allow hedge funds based in the country to lend to companies under new rules drawn up by the central bank, the bank said.

Lloyds Banking Nears Libor Settlement With Regulators

Lloyds Banking Group Plc (LLOY) said it’s nearing a settlement with regulators on fines following the manipulation of key benchmark interest rates such as Libor.

China's bad loan ratio rises, adding to bank sector worries

(Reuters) - Chinese banks' bad loan ratio rose to 1.08 percent at the end of June from 1.04 percent in March, the banking regulator said on Friday, adding to concerns a slow economy and cooling property market could weigh on banks and brew up financial risks.

World’s Biggest Wealth Fund Among Reach Energy Investors

Malaysia’s Reach Energy Bhd. has attracted investors including Norway’s $890 billion sovereign wealth fund in an initial public offering to fund its acquisitions of oil and gas fields.

IMF predicts Britain's GDP growth rate will surge to 3.2% by year end

The International Monetary Fund has raised its forecast for Britain's economic growth rate for the second time this year.

Hedge Fund Dromeus Turns Greek Tragedy to Triumph With 160% Gain

Dromeus Capital Management SA is turning Greek tragedy into triumph.

Argentina asks U.S. judge to put debt payment order on hold

(Reuters) - Argentina asked a U.S. judge on Monday to put on hold an order requiring it to pay bondholders who did not participate in debt restructurings following the country's 2002 default, while it seeks a "global resolution."

Reforming Egypt's black market - high hurdles, big rewards

(Reuters) - The economist behind a plan to unlock at least $380 billion worth of assets from Egypt's black market says President Abdel Fattah al-Sisi must first restore another asset that has depreciated over the years: the trust of a wary public.

Dollar Rallies Most in 8 Weeks on Fed, Ukraine Turmoil

A dollar gauge rallied the most in eight weeks as the Federal Reserve acknowledged surprise in the improvement in the U.S. labor market and amid heightened geopolitical turmoil.

UK first-time home-buyers reach highest level since 2007

(Reuters) - The number of first-time homebuyers in Britain hit its highest level since the start of the financial crisis in the first half of 2014, helped by the recovering economy and policies such as Help to Buy, a survey showed on Saturday.

EU Banks Seen Bowing to U.S. on Russia Bans as Fines Rise

European banks, contending with escalating U.S. fines for sanctions violations, will likely bow to fresh bans imposed by the U.S. on financing Russian companies as the risks of dealing with the nation mount.

Rising employment fails again to boost wages

Unemployment fell last month as Britain's economy added jobs at an unprecedented pace, according to official figures. But the recovery failed to lift wages by more than a fraction, leaving workers suffering another real-terms cut in living standards.

BRICS aim to set up infrastructure fund, Russian investment fund says

MOSCOW (Reuters) - The Russian Direct Investment Fund together with sovereign wealth funds from its peers among the BRICS developing nations aim to form a joint fund to invest in infrastructure projects, the RDIF said on Tuesday.

U.S. CBO forecasts 2039 public debt at 106 percent of GDP

(Reuters) - U.S. public debt remains on an unsustainable path and will reach 106 percent of economic output in 25 years versus about 74 percent currently, the Congressional Budget Office said on Tuesday, marking a slight increase from projections made last September.

No plan to set up sovereign wealth fund for now: Mayaram

New Delhi, July 12: India is not looking to set up any sovereign wealth fund (SWF) for now, the Finance Secretary, Arvind Mayaram has said.

GIC Said to Have Backed Out of Lone Star’s Tokyo Property Sale

GIC Pte, Singapore’s sovereign wealth fund, backed out of buying a Tokyo property from Lone Star Funds, according to people familiar with the transaction.

S&P raises Ukraine's outlook as IMF bailout boosts economy

(Reuters) - Standard & Poor's revised its outlook on Ukraine to stable from negative, saying that the International Monetary Fund program adopted in April has helped improve the economic situation in the country.

Yemen government curbs travel, recruitment in austerity drive

DUBAI, July 10 (Reuters) - Yemen's president has ordered a raft of austerity steps, including a review of state-owned companies' viability and curbs on foreign travel by government officials, to ease pressure on the impoverished state's crumbling public finances.

Bank of England expected to keep interest rates on hold

Interest rates are expected to remain on hold on Thursday as policymakers weigh up the mounting arguments for a first change in more than five years.

Abu Dhabi Wealth Fund Adds Stocks in Europe to South Africa

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said internal money managers allocated more assets to European and South African equities last year.

Temasek Invests in Health-Care, Consumer Firms to Tap New Growth

Temasek Holdings Pte is increasing investments in consumer, technology and health-care companies as Singapore’s state-investment firm becomes less reliant on financial assets.

Euro stragglers may be tempted to borrow their troubles away

If, faced with a turbulent decade for family finances, you could fix the interest rate on your massive mortgage debt at 3.5-4 percent for the next 10 years, you might well be tempted to grab it with both hands.

Labour row clouds French job-creation summit

Paris (AFP) - French President Francois Hollande on Monday kicks off a summit with business leaders aimed at creating half a million vitally-needed jobs in return for lower taxes, but a labour row threatens to mar the event.

Bombay Stock Exchange resumes trading

India's main stock market, Bombay Stock Exchange (BSE), has resumed trading after being disrupted due to a network problem.

More Americans are stuck in part-time work

In the new landscape of the American labor market, jobs are easier to come by but hours remain in short supply.

A capital markets union could be next thing in EU's in-tray

LONDON (Reuters) - The European Union may seek to tighten its grip over financial markets to help find funds to boost economic growth, a move that could stoke anti-EU sentiment in Britain, the EU's largest financial centre.

Arabtec assurances revive Dubai stock market

Dubai's stock market bounced back almost 8% after weeks of volatility surrounding construction giant Arabtec.

Abu Dhabi Wealth Fund Adds Stocks in Europe to South Africa

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, said internal money managers allocated more assets to European and South African equities last year.

Argentina faces vulture funds in countdown to default

Buenos Aires (AFP) - Argentina risks technical default by the end of Monday in its combat with so-called vulture funds over a US court ruling that it must settle unpaid debts to bondholders.

EU sets economic priorities for next five years

BRUSSELS — Leaders of the European Union (EU) said that they have set economic priorities for the next five years, media reported Saturday.

Steady job growth boosts US consumer confidence despite economy's slowdown

WASHINGTON – Strong job growth lifted U.S. consumer confidence this month, as Americans looked past the economy's dismal first quarter performance.

KKR Joins Sovereigns Seeking Seoul Skyline Yields: Korea Markets

KKR & Co. bought an skyscraper in downtown Seoul, within walking distance from blocks owned by wealth funds of Azerbaijan and Singapore, as falling bond yields and a revived economy spurs a search for higher returns.

How to tame your property bubble

But that's the challenge officials took on Thursday in the face of mounting evidence of a property bubble in London and concerns that reckless lending could leave U.K. borrowers struggling when interest rates inevitably rise.

Norway’s Frontier Gamble Will Bolster Market, HSBC Says

Norway’s decision to have its $890 billion sovereign wealth fund boost investments in frontier markets will probably attract more institutional investors to the asset class, according to HSBC Holdings Plc.

China's sovereign fund mismanaged some investment: audit

BEIJING (Reuters) - China's $575-billion sovereign wealth fund mismanaged some of its overseas investments between 2008 and 2013 that led to losses, the country's top auditor said on Wednesday, without specifying the size of the loss.

Investors counting on property boom despite house price warning

Global investors are betting on a substantial property boom despite warnings that housing in many countries is already overvalued.

No clash between ECB and IMF on extra steps to boost inflation: Benoit Coeure

LUXEMBOURG: There is no disagreement between the European Central Bank and the International Monetary Fund on the possibility of additional steps to boost euro zone inflation, in case the current steps are ineffective, ECB executive board member Benoit Coeure said.

EU's Rehn says reforms should precede more time for deficit cuts

(Reuters) - European governments should first get structural reforms under way and only afterwards expect to be granted more time to reduce their budget deficits to within European Union limits, EU Economic and Monetary Affairs Commissioner Olli Rehn said.

UK retail sales fall despite World Cup boost to sports shops

UK retail sales fell for the first time since January last month despite World Cup fever which drove higher sales of football shirts.

China's sovereign fund mismanaged some investment: audit

BEIJING (Reuters) - China's $575-billion sovereign wealth fund mismanaged some of its overseas investments between 2008 and 2013 that led to losses, the country's top auditor said on Wednesday, without specifying the size of the loss.

Fed insists economy can withstand stimulus cut despite rising prices

The Federal Reserve insisted that the US economy is strong enough to withstand a cut to its stimulus program, despite being forced once again to cut its growth forecasts.

Mideast Funds to Boost Property Buys Fivefold Over Decade

Middle East investors, including some of the world’s largest sovereign-wealth funds, may increase commercial real estate purchases to $180 billion over the next decade, broker CBRE Group projected.

China sets ownership limits on Hong Kong-Shanghai cross-border stock investment

SHANGHAI, June 16 (Reuters) - China has specified ownership limits for overseas investors buying shares in companies listed in China via the recently announced Hong Kong-Shanghai cross-border stock investment pilot programme.

Households braced for first rise in borrowing costs in more than five years

Households are bracing themselves for the first rise in borrowing costs since the Bank of England cut interest rates to a record low more than five years ago.

China Sovereign Fund Managing Director Said to Plan Fund

Yu Bin, a former managing director at China’s sovereign wealth fund, plans to start a fund focused on Greater China equities, said three people with knowledge of the matter.

U.S. retail sales rise less than expected in May

(Reuters) - U.S. retail sales rose less than expected in May, but that probably will do little to change expectations of an acceleration in growth this quarter as data for the prior months was revised higher.

Morgan Stanley Turns Aussie Bull to Predict Parity: Currencies

Morgan Stanley is breaking from the pack, becoming the first forecaster to predict Australia’s dollar will regain parity with its U.S. counterpart.

Qatar Central Bank Adds 7 Year T-Bond to Extend Yield Curve

Qatar’s central bank has begun selling seven-year debt to extend the yield curve it’s developing for local companies to issue debt, the governor said.

Investors look to China and U.S. after ECB fights deflation risk

(Reuters) - This week's light calendar gives investors room to digest the European Central Bank's radical moves to avert deflation and look beyond U.S. data which, in more normal times, might imply higher interest rates.

Overheated housing market worries British finance executives

Leading British banks, hedge funds and asset managers are increasingly worried about the impact of the housing market on Britain's financial system, according to the Bank of England.

Saudi Arabia to discuss proposal for sovereign wealth fund

DUBAI, June 8 (Reuters) - Saudi Arabia's Shura Council, an influential advisory body to the government, will discuss a proposal for the country to establish a sovereign wealth fund that would invest some of its vast oil earnings, local media reported.

U.S. Credit Rating Affirmed by S&P With Stable Outlook

The U.S.’s AA+ credit rating was affirmed by Standard & Poor’s, which cited the resiliency and diversity of the economy, almost three years after downgrading the nation for the first time amid political wrangling.

Foreign investment in government bonds surges to 82 percent of limit

Reuters Market Eye - Foreign investors have exhausted 82.47 percent of the available limit of $20 billion in government bonds, according to data published by National Securities Depository Ltd on Thursday.

China confident it has done enough to keep growth above 7 percent

(Reuters) - China has stepped up efforts to stop quarterly economic growth falling towards 7 percent and thinks it has been successful for now after preliminary signs that a rapid slowdown has been arrested, sources involved in policy discussions say.

Singapore's GIC buys stake in anti-plagiarism software maker

Singapore sovereign wealth fund GIC and a US-based private equity firm will acquire anti-plagiarism software maker iParadigms for $752 million, the firms said Tuesday.

Top 500 hedge funds control 90 pct of industry assets - Preqin

LONDON (Reuters) - The 505 largest hedge fund managers in the world, each with more than $1 billion under management, control 90 percent of the industry's assets, research by Preqin showed on Thursday.

Further ECB easing to have little to no money market impact: poll

(Reuters) - If the European Central Bank lives up to expectations for interest rate cuts and a liquidity operation on Thursday, such moves would only lower near-term money market rates slightly, a Reuters poll found on Monday.

Retirement: How to invest wisely to live comfortably

Financial advisers often encourage people to save aggressively for retirement and invest in stocks for the long term, but many people struggle with retirement saving and investing.

Mozambique mulls sovereign wealth fund

Maputo (AFP) - Mineral-rich Mozambique is considering the establishment of a sovereign wealth fund, the country's finance minister said Thursday.

Revised US GDP figures show shrinking economy over harsh winter

The US economy contracted for the first time in three years in early 2014 after a much worse performance than originally feared.

China's move to speed spending seen a sign of growth concerns

(Reuters) - Chinese authorities are stepping up efforts to ward off a sharper economic slowdown, analysts said after Beijing called on local governments to speed up their spending over the next month to boost activity.

Draghi flags ECB action next Thursday

FORTUNE -- European Central Bank President Mario Draghi dropped his clearest hint yet that the bank will take action next Thursday to ward off the threat of deflation and support the euro zone's faltering economic recovery.

Asian shares waver, euro steady but ECB talk weighs

(Reuters) - Asian stocks erased early modest gains on Tuesday, while the euro steadied but remained vulnerable after overnight comments from the European Central Bank chief heightened expectations of easing steps in the euro zone.

Exclusive hedge funds crack open door to Main Street

LAS VEGAS (Reuters) - As a $14.8 billion hedge fund with a reputation for savvy mortgage trades and a record of double-digit returns, Pine River Capital Management has long signed up multi-billion-dollar pension and sovereign wealth funds as investors.

Egypt Stocks Advance to Six-Year High Before Poll; Qatar Gains

Egypt’s benchmark index climbed to the highest since 2008 on bets tomorrow’s presidential election will be peaceful. Qatar’s measure surged to a record.

China's GDP growth may fall to 5 percent by 2017: media

(Reuters) - China's economic growth could slow to around 5 percent in the next two to three years, Chinese media quoted a researcher at an influential think tank linked to the state cabinet as saying, a forecast that contrasts with rosier official estimates.

Week Ahead: Housing Data and GDP

Housing data and a report on gross domestic product will highlight next week’s economic calendar. U.S. banks and securities markets are closed Monday for the Memorial Day holiday.

Bank of England's Bean says may be case for earlier rate hikes: BBC

(Reuters) - The Bank of England's plan to increase interest rates only gradually may mean it should move earlier than would otherwise be the case, a top policymaker at the central bank said.

African spending spree faces punishment by markets

KIGALI (Reuters) - African economies are securing new funds through resource finds or dollar bonds but many governments face questions over how they use the money and risk being punished by international capital markets.

Qatar fund commits $2 bln investment to Russia - RDIF CEO

ST PETERSBURG, Russia, May 23 (Reuters) - Qatar's sovereign wealth fund the Qatar Investment Authority is allocating $2 billion to Russia via joint investments with state-backed private equity fund the Russian Direct Investment Fund, Kirill Dmitriev, the CEO of Russia's fund said on Friday.

Fed to clarify rate hikes as time nears: Williams

(Reuters) - San Francisco Fed President John Williams told reporters on Thursday that the U.S. central bank will drop "hints," both directionally and qualitatively, about the timing and pace of rate hikes as the time for tightening nears.

Investors play it safe as doubt over economy rises

NEW YORK (AP) -- Wall Street has caught a case of the jitters. Employers are hiring at their fastest pace in 2 ½ years, the economy is expected to expand by a robust 3.5 percent this quarter and corporate earnings have hit a record.

Allianz ends risk-free status of government bonds

(Reuters) - Allianz (ALVG.DE), Europe's biggest insurer, has begun applying a notional charge in its accounts to reflect the risk of holding government bonds as investments, drawing a lesson from the euro zone debt crisis that may prompt others to follow suit.

Stocks barely budge at end of volatile week

After hitting new highs earlier in the week, stocks were under pressure for a third day Friday as worries about the economic recovery grow.

Wealth Fund Growth Boosts Norway’s Budget as Economy Slows

Norway’s new government is tapping more oil revenue than previously estimated this year to support a slowing expansion in Scandinavia’s richest nation.

Singapore Inc. State Firms Are Most Acquisitive: Southeast Asia

GIC Pte and Temasek Holdings Pte, Singapore’s state-owned investment firms, are set to lead global sovereign investors in acquisitions for a second year after emerging as the most active in 2013.

India shares at record high on exit polls

Indian stock markets have risen to a record high after exit polls suggested the Narendra Modi-led Bharatiya Janata Party (BJP) and its allies are on course to win the general election.

Rising U.S. economy could help Democrats stave off election loss

(Reuters) - Here's a riddle: Many Republicans deny it's happening. Some Democrats don't want to talk about it. What is it?

Vietnam Stocks Lure Foreign Investors as Locals Spur Selloff

Foreign investors took advantage of Vietnam’s biggest stock-market retreat since 2001 to boost their holdings in a bet that losses spurred by escalating tensions with China will prove short-lived.

BOJ to set aside more reserves as balance sheet grows

(Reuters) - The Bank of Japan will set aside four times the amount of money it normally would as reserves to offset the risk posed by the assets it is rapidly adding to its balance sheet with its quantitative easing.

German exports post big fall in March, trade drags on Q1

BERLIN, May 9 (Reuters) - German exports posted their biggest fall in nearly a year in March and imports also dipped as the crisis in Ukraine and a slowdown in China weighed, narrowing the trade surplus and confirming trade was a drag on growth at the start of 2014.

U.K. Fund Managers Can’t Pass on Corporate-Access Costs

Asset managers won’t be able to pass on to their clients the cost of paying for access to executives as part of new rules by the U.K. markets regulator to rein in research charges.

Janet Yellen says the US economy is on the mend

In testimony in front of the US Congress, Federal Reserve chair Janet Yellen said the US economy is on the mend but reaffirmed the central bank is prepared to act should it falter.

Asia shares ride Wall Street gains, Europe seen up too

(Reuters) - Asian share markets shuffled higher on Tuesday after promising U.S. economic news helped Wall Street to a firmer finish, though activity was again light with Tokyo still on holiday.

Foreign banks get transition period on U.S. tax evasion law

(Reuters) - The U.S. Treasury Department said on Friday that the Internal Revenue Service (IRS) this year and next will take into account "good faith efforts" by foreign banks to comply with a new U.S. anti-tax evasion law set to take effect on July 1.

Abu Dhabi’s NBAD Hires From HSBC as Thursby Seeks to Recruit 450

National Bank of Abu Dhabi PJSC, the United Arab Emirates’ biggest bank, plans to recruit 450 people this year to improve its retail and commercial banking business.

Abu Dhabi and Kuwait Funds Got Priority Royal Mail Shares

Goldman Sachs Group Inc. (GS) and Lazard Ltd. said there was no conflict of interest when advising on Royal Mail Plc (RMG)’s initial public offering, after the government released a list of “priority investors” in the sale.

Hedge Funds Replace Banks as Europe Property Lenders

Investors in commercial mortgage bonds have grown so tired of waiting for Europe’s market to recover after the financial crisis that they are now lending directly to property developers.

Average house price in England could double in next decade, report says

The average price of a house in England could double in the next decade and hit more than £900,000 by 2034, unless there is a radical new housebuilding programme to provide nearly a quarter of a million new homes a year, a report claims today.

Stocks and shares ISA investors rewarded last year

Investors who put their savings into stocks and shares ISAs were well rewarded over the last year, according to new research.

Sovereign Wealth Fund KIA Invests $100 Million in NantHealth, a NantWorks Company

NantHealth LLC, a NantWorks company, announced today that one of the world's largest sovereign wealth funds, the Kuwait Investment Authority (KIA), has invested $100 million in NantHealth, a cloud-based transformational healthcare IT company converging science and technology through a single integrated clinical platform, to provide actionable health information at the point of care, in the time of need.

German banks to pay 1.9 billion euro a year for resolution fund: paper

(Reuters) - German banks will pay about 1.9 billion euros a year into a new European bank restructuring fund, more than three times the amount they cough up currently, with large banks footing the bulk of the bill, according to a newspaper report on Monday.

Construction Bank Profit Grows Most in One Year on Loan Margin

China Construction Bank Corp. (939), the nation’s second-largest lender by market value, reported wider lending margins in the first quarter, helping it to post its biggest profit increase in a year.

US, Europeans to Slap New Sanctions on Russia

SEOUL - President Obama and four European leaders agreed on a conference call Saturday to impose new sanctions on sectors of the Russian economy, the White House said.

Angola Sovereign Wealth Fund Starts Hotel, Infrastructure Pools

The Fundo Soberano de Angola, the $5 billion sovereign wealth fund of Africa’s second-largest oil producer, is starting investments in hotels and commercial infrastructure in sub-Saharan Africa.

European banks to be stress-tested against two years of recession: source

(Reuters) - European banks will be tested on their ability to withstand a recession stretching through 2014 and the following year as part of a landmark review into whether they finally have enough capital to withstand economic shocks, a source familiar with the tests said on Friday.

FOREX-Euro subdued near two-week lows, wary of ECB

LONDON, April 22 (Reuters) - The euro hovered near a two-week low against the dollar on Tuesday and fell against the yen, as expectations the ECB will try to halt any further strengthening kept investors away from the single currency.

ICD boosting activity in Africa to widen Islamic finance appeal

(Reuters) - The private sector arm of the Jeddah-based Islamic Development Bank [ISDBA.UL] plans to increase its activities in Africa, part of plans to widen the appeal of Islamic finance across the region, its chief executive said.

Dollar Heads for Weekly Gain as Data Support Pace of Fed Taper

The dollar headed for weekly gains against the euro and the yen as improving economic data backed speculation the Federal Reserve will remove stimulus this year.

U.S.-based stock funds post $3.6 billion outflows over week: Lipper

(Reuters) - Investors in U.S.-based funds pulled $3.6 billion out of stock funds in the week ended April 16 on fears that a selloff in technology and biotech shares could signal a steeper drop in U.S. stocks, data from Thomson Reuters' Lipper service showed on Thursday.

UK housing market shows resilience, says CML

The "resilient" UK housing market recorded another increase in mortgage lending in March, according to a lenders' group.

Fed's Fisher unworried by current low inflation

(Reuters) - Dallas Federal Reserve Bank President Richard Fisher said he is "not uncomfortable" with the current low level of U.S. inflation, and will not vote for or support any policy that drives it above the Fed's long-term 2-percent goal.

Bank of England unlikely to rush into an early interest rate rise

Employment up by more than 250,000 on the quarter. The unemployment rate below 7% and at its lowest rate in five years. Average earnings are picking up and finally outpacing prices.

Investors pare longer-dated U.S. Treasuries in week -survey

NEW YORK, April 15 (Reuters) - More investors pared their holdings of longer-dated Treasuries in the latest week after the minutes of the Federal Reserve's March policy meeting suggested the U.S. central bank would be unlikely to raise interest rates until the second half of 2015, according to a survey released on Tuesday by J.P. Morgan Securities.

Hedge funds pose biggest risks in crises: Fed study

(Reuters) - Hedge funds, not banks, may be the most important transmitters of shocks during financial crises, according a study published Monday by the Federal Reserve Bank of San Francisco.

Wholesale Prices in U.S. Rise on Services as Goods Stagnate

Wholesale prices in the U.S. rose in March as the cost of services climbed by the most in four years while commodities stagnated.

British investors demand banks stick to lockups on share sales

(Reuters) - British investors have called upon investment banks to stick closer to lock-up agreements on sales of company shares after a major transaction, saying it would ensure more stable markets.

Wall Street’s Bond Trading, Allocation Under Finra Review

The Financial Industry Regulatory Authority is examining whether Wall Street firms overcharge investors on some bond trades and whether they unfairly allocate new corporate debt issues to reward certain clients.

RRJ, Temasek Fund Invest $250 Million in China Warehouse Project

RRJ Capital Ltd., run by Charles Ong, and a fund under his former employer, Singapore sovereign wealth fund Temasek Holdings Pte, have invested $250 million in Chinese logistics warehouse developer Shanghai Yupei Group Co.

Qatar Investment Official Said to Start Hedge Fund

LONDON — A top investment executive at Qatar’s sovereign wealth fund is leaving to start a hedge fund, people briefed on the development said.

Private Equity’s New Kind of Club Deal

Trendy new buyout clubs may disappoint their eager would-be patrons. The Blackstone Group is enlisting some of its fund investors to help buy the auto parts maker Gates for $5.4 billion.

COLUMN-The right agenda for the IMF

April 6 (Reuters) - The world's finance ministers and central bank governors will gather in Washington this week for the twice yearly meetings of the International Monetary Fund.

Nigeria becomes Africa's biggest economy

Abuja (AFP) - Nigeria on Sunday became Africa's biggest economy, leap-frogging South Africa, after the government announced a long-overdue rebasing of the country's gross domestic product.

Blackstone Agrees to Buy Gates Global in $5.4 Billion LBO

Blackstone Group LP (BX), the world’s largest buyout firm, agreed to acquire industrial-products maker Gates Global Inc. (GGI) from Onex Corp. (OCX) and Canada Pension Plan Investment Board for $5.4 billion.

ECB considers Fed-style stimulus

Negative interest rates? Printing money? They're now both firmly on the agenda in Europe if prices don't start to pick up soon.

UK services sector growth eases in March

Growth in Britain's services sector was the slowest in nine months in March, missing forecasts but doing nothing to change expectations that economic recovery was sustained in first quarter overall.

Blackstone Said in Talks to Sell Offices for $2.5 Billion

Blackstone Group LP (BX) is in talks to sell six prime office properties in the Boston area for about $2.5 billion as the buyout firm continues to dispose of assets from its 2007 takeover of Equity Office Properties Trust, said a person with knowledge of the negotiations.

German public sector unions win big pay hikes for 2014, 2015

(Reuters) - The German government and trade unions have agreed to a 3 percent wage increase for some 2.1 million public sector workers this year and a 2.4 percent pay rise next year, Verdi union leader Frank Bsirske and the government said on Tuesday.

SocGen Faces Bribery Claims in Libya Wealth Fund Suit

The Libyan Investment Authority said in a $1.5 billion lawsuit that Societe Generale SA paid about $58 million to a friend of the Qaddafi family to secure investments.

UK and Germany say EU reform must be fair to non-euro members

(Reuters) - Germany joined Britain on Thursday in calling for European Union reforms that are fair to (EU) countries outside the euro zone, bolstering British Prime Minister David Cameron's attempts to placate eurosceptics at home.

Banks Lending Like It’s 2007 Belied by $10 Trillion Hoard

For all the warnings from the Federal Reserve over excessive risk-taking as loan growth soars to levels last seen just before the crisis, bankers still have 10 trillion reasons to lend.

Hong Kong buyers send London real estate soaring

Foreign buyers are snapping up central London homes, distorting prices and forcing policymakers to levy new taxes in an attempt to control the market.

Cuba plans big tax breaks to lure foreign investors

(Reuters) - Cuba's communist government has drawn up a new foreign investment law that will cut the profits tax in half and exempt investors from paying it for eight years in an attempt to attract desperately needed capital into the economy.

New Zealand is back on the radar of international investors

A recent survey undertaken by an international organisation representing global property investors has placed New Zealand in the top ten list of investment destinations for the first time.

UK's largest hedge funds manage 82% of assets

Hedge funds manage $470 billion (£285 billion) in the UK, with 82 per cent of the assets controlled by just 20 large firms, the City regulator revealed today.

China's factory activity show further contraction

China's manufacturing sector showed further contraction in March, according to a new report which mainly tracks activity in smaller factories.

Temasek to Pay $5.7 Billion for 25% of Hutchison’s Watson

Billionaire Li Ka-shing’s Hutchison Whampoa Ltd. (13) agreed to sell a 25 percent stake in its retail arm to Temasek Holdings Pte for HK$44 billion ($5.7 billion) and pushed back plans for an initial public offering for the unit.

As Fed eyes eventual exit, policymakers spar over interest rates

(Reuters) - Two top Federal Reserve policymakers staked out diametrically opposite views on Friday about whether the U.S. central bank should be willing to risk higher unemployment in order to head off a potential financial crisis.

Russian sanctions ripple through European boardrooms

(Reuters) - A deepening economic standoff between Russia and the west over the future of Ukraine has rippled through trading floors and boardrooms with exporters scrambling to protect revenues and global financial firms halting services.

Och-Ziff Falls After Disclosing Sovereign-Related Probe

Och-Ziff Capital Management Group LLC (OZM), the hedge-fund firm run by Daniel Och, fell after saying U.S. regulators are investigating whether it broke bribery laws in accepting an investment from a sovereign wealth fund.

Yuan Starts Direct Trading With Kiwi Dollar in Shanghai

China started direct trading between the yuan and New Zealand’s dollar today as the world’s second-largest economy promotes usage of its currency in global trade and finance.

Temasek Shows More Committed Than Peers With Olam Offer

Temasek Holdings Pte unit’s offer to take over Olam International Ltd. (OLAM) shows Singapore’s investment firm is more active compared with other state-owned investors, according to the Sovereign Investment Lab.

Sovereign-wealth funds must move out of shadows

The need for greater transparency among emerging-market economies owning an increasing share of cross-border investments is moving slowly up the global economic agenda.

Dubai to Pay 1% on $20 Billion Owed to Abu Dhabi, Regulator

Dubai, the Persian Gulf emirate whose near default in 2009 roiled global markets, signed an agreement with Abu Dhabi and the United Arab Emirates’ central bank to roll over $20 billion of debt for five years.

Eyes turn to Russia on record drop in U.S. bond holdings

(Reuters) - This week's record decline in foreign holdings of U.S. Treasuries has led some to speculate that Russia has been cutting its dollar reserves ahead of possible sanctions from the West due to its role in the Ukraine crisis.

China Stimulus Decision Looms as Investment Slows

China’s weakest start to a year for investment growth since 2001 and unexpectedly slow industrial production add pressure for economic stimulus, just as Premier Li Keqiang signals he wants to avoid such a move.

GIC’s Investment in Linx Shows Confidence in Brazil’s Economy

GIC Pte, Singapore’s sovereign wealth fund, is buying stakes in Brazilian companies in a sign of confidence the world’s second-largest emerging market will overcome slower growth.

Fed set to ditch 'threshold' guidance under Yellen

(Reuters) - Janet Yellen's first policy-setting meeting as chair of the U.S. Federal Reserve will focus on how to finesse a rewriting of the central bank's promise to keep interest rates low without roiling financial markets.

Sovereign-wealth funds must move out of shadows

The need for greater transparency among emerging-market economies owning an increasing share of cross-border investments is moving slowly up the global economic agenda.

UK retail sales slow in February after bumper January: BRC

(Reuters) - British retail sales slowed markedly in February after a robust January as food sales stagnated, an industry survey showed on Tuesday.

Global investors' bet on Europe recovery picks up pace

PARIS, March 10 (Reuters) - After being shunned by investors for years, the euro zone is attracting global funds at the fastest pace ever as its economic recovery beckons those fleeing emerging markets.

Gold recovers modestly on fresh demand, silver slips

MUMBAI: Gold prices recovered modestly here today on fresh local buying interest in view of wedding season.

Fed officials see high hurdle for changing course on QE taper

(Reuters) - The U.S. economic outlook would have to change dramatically for the Federal Reserve to alter the pace at which it is winding down its massive bond-buying program, three top U.S. central bankers said on Thursday.

Buffett Cuts Bond Allocation as Berkshire Warns on Yields

Warren Buffett cut the allocation to bonds at Berkshire Hathaway Inc. (BRK/A)’s insurance units to the lowest in more than a decade as the company warns that low yields will hurt results.

Zimbabwe Wealth Fund to Get Share of State Mining Revenue

Zimbabwe’s Parliamentary Legal Committee said the country’s Sovereign Wealth Fund Bill doesn’t contravene the constitution, paving the way for the adoption of legislation that could see the fund allocated as much as a quarter of mining royalties.

Goldman Sees Russia Taming Ruble Losses After Plunge

Goldman Sachs Group Inc. predicts Russia will contain losses in the ruble as policy makers pledge to curb volatility after ratcheting up interest rates and selling billions of dollars in the currency market yesterday.

In slight to Hollande, Berlin fetes Sarkozy

(Reuters) - In his first major speech since losing the French presidency in 2012, Nicolas Sarkozy weighed in on euro zone integration, the Ukraine conflict and the risks of weak leadership in Europe to an adoring crowd of fellow conservatives in Berlin.

U.S. GDP revised down, but hints of economic thaw emerge

(Reuters) - The U.S. government slashed its estimate for fourth-quarter economic growth on Friday in the latest sign of a loss of momentum, but some tentative signs emerged that suggested the worst of the slowdown may be over.

Investors Mount Attack on Norway in $20 Billion Oil, Gas Row

Allianz SE (ALV), Abu Dhabi’s wealth fund and firms including Statoil ASA (STL) have mounted a multi-pronged battle against Norway to defend revenue and oil- and gas-industry projects valued at $20 billion.

Japan’s GPIF to Invest $2.7 Billion in Infrastructure

Japan’s Government Pension Investment Fund, the world’s largest pool of retirement savings, will invest as much as $2.7 billion in infrastructure over the next five years.

Khazanah Joins Sovereign Funds’ Expansion Spree: Southeast Asia

When Khazanah Nasional Bhd. announced 2013 returns last month, the Malaysian sovereign wealth fund highlighted its international presence for the first time and plans to continue expanding abroad.

U.S. mortgage applications slip in latest week: MBA

(Reuters) - Applications for U.S. home mortgages fell, including both new purchases and refinancings, in the latest week, an industry group said on Wednesday.

Kravis Says Private Equity Does Poor Job of Discussing Its Benefits

BERLIN – Henry Kravis, the co-founder of the private equity firm Kohlberg Kravis Roberts, and other industry leaders think the private equity sector has a bit of an image problem.

A year on from the financial hurricane, Cyprus president pushes for unification

Makarios Avenue is a sorry sight. Once the archetypal image of Cyprus's rejuvenation after its 1974 invasion by Turkey, the high-end boutiques of Nicosia's main shopping street are boarded up, its fashion shops plastered with "for rent" signs and its once- thriving cafes closed and shuttered.

G20 meeting targets an additional 2% economic growth

Financial leaders from the 20 biggest economies have set a goal of generating $2 trillion (£1.2 trillion) in extra output over the next five years.

Asia Currencies Have Worst Week Since August on China Concern

Asian currencies had their worst weekly loss in six months as signs of a deeper economic slowdown in China and the Federal Reserve’s support for tapering asset purchases weighed on emerging markets.

With Ban on Ads Removed, Hedge Funds Test Waters

It looks like the kind of motivational poster on a college student’s dorm room wall. Snowboarders stand at the peak of a steep mountain, reveling in victory, with the tag line, “Performing in all conditions.”

Eurozone business growth slowed in February, PMI study suggests

Business growth in the eurozone eased this month but the bloc's economy continued to expand at a "robust pace", a closely watched survey suggests.

EMERGING MARKETS-Ukraine's assets hit, Russia's rouble sets all-time euro low

LONDON, Feb 19 (Reuters) - Ukraine's sovereign bonds and currency tumbled on Wednesday as a renewed wave of violence hit the capital Kiev, adding pressure on Russia's rouble which has hit an all-time low against the euro.

Nowotny eyes 'self-correction' of low inflation, strong euro

(Reuters) - Low euro zone inflation and the strong euro could both start to self-correct this year without necessarily requiring any action from the European Central Bank, one its policymakers Ewald Nowotny said on Tuesday.

Worst over for stocks? Depends on earnings

Thanks to a strong rally last week, the S&P 500 is now down only slightly for the year while the Nasdaq is up nearly 2%.

Hedge Funds Raise Gold Bull Bets as Paulson Holds: Commodities

Hedge funds raised bullish gold wagers to a three-month high as signs of slowing U.S. economic growth spurred demand for haven assets. Billionaire John Paulson maintained his bullion holdings last quarter.

AFRICA INVESTMENT: African nations race to build sovereign funds

JOHANNESBURG (Reuters) - Resource-rich African countries are busy setting up sovereign wealth funds, but critics say the funds may not serve the long-term interests of poor countries that still need to invest in basics such as schools and roads.

World’s Biggest Sovereign Fund Needs to Add Risk, Olsen Says

Oeystein Olsen, the governor of Norway’s central bank, said he’s planning to petition the government to allow the nation’s $830 billion wealth fund to cut bond holdings further to help it generate bigger returns.

Asia Asset Management Honors Northern Trust for Best Client Servicing in Asia-Pacific

HONG KONG--(BUSINESS WIRE)-- For the third consecutive year, Asia Asset Management has recognized Northern Trust for “Best Client Servicing in Asia-Pacific,” citing its commitment to personalized client service, integrated business intelligence, product innovation and customizable capabilities.

Strong China January trade data sparks cheers, doubts

(Reuters) - China surprised markets with a thumping trade performance in January as import growth hit a six-month high, drawing some skepticism about the data but still allaying fears of a deepening economic malaise.

Bank of England launches inquiry into forex manipulation claims

The Bank of England has launched an internal inquiry into allegations that its officials endorsed sharing of information between traders in the foreign exchange market, the central bank's deputy governor told MPs.

Deutsche Bank cuts Europe ETF prices to win institutional business

FRANKFURT (Reuters) - Deutsche Bank (GER:DBK) will cut commissions on four of its biggest European exchange-traded funds, or ETFs, in a move to take market share from rivals such as Vanguard and BlackRock (BLK.N) and win over big institutional investors.

Rupee weakens on caution ahead of U.S. jobs data

MUMBAI (Reuters) - The rupee ended marginally lower on Wednesday as sentiment remained cautious with foreign funds continuing to be steady sellers of local debt ahead of key U.S. nonfarm payrolls data.

Puerto Rico’s Second Cut to Junk Debt

Moody’s Investors Service downgraded Puerto Rico’s general-obligation debt to junk status on Friday, intensifying a cash squeeze on the island and prompting some residents to blame hard-nosed creditors for their mounting troubles.

U.S. Said to Probe Banks Over Sovereign Wealth Fund Deals

The U.S. Justice Department is investigating whether financial firms made improper payments to secure investments from sovereign wealth funds, according to two people familiar with the matter.

A hawk pushes against majority at Fed on trimming stimulus

(Reuters) - Going a step further than his colleagues at the Federal Reserve, a hawkish policymaker said on Wednesday the U.S. central bank should wind down its bond purchases faster than planned and end it before mid-year.

Pension Funds Face New Era of Disclosure On Climate Risks

For more than a decade, as part of the Carbon Disclosure Project (CDP), investors have been asking the companies they invest in to disclose their carbon emissions, in theory so that they could get a better idea of the exposure of their investments to climate change risks and reduce that risk accordingly.

World markets battered again

Asia stocks took yet another dive on Tuesday, as fearful investors cut their losses amid a broad regional slump. Japan's benchmark Nikkei index fell 4.2%, extending its tumble this year to just over 14%.

DOJ probes finance firms' dealings with Libya: WSJ

(Reuters) - The U.S. Department of Justice is investigating banks, private equity firms and hedge funds that may have violated anti-bribery laws in their dealings with Libya's government-run investment fund, the Wall Street Journal reported, citing people familiar with the matter.

Bonds Outperform Stocks in Best Start to a Year Since 2008

Bonds beat stocks last month for the first time since August as fixed-income securities worldwide enjoyed their best start to a year since 2008.

A Ray of Hope for Emerging Markets?

A new indicator of cross-border capital flows unveiled Thursday may give emerging markets a ray of hope in what has been a pretty dark week.

U.S. consumer spending rose in December, confidence slips this month

(Reuters) - U.S. consumer spending rose in December, but an ebb in consumer confidence and signs of cooling in factory activity this month suggested economic growth could moderate in the first quarter.

Investors Rebel as EM Rate Jumps Fail to Buoy Curencies

Investors beating a retreat from emerging markets tested the resolve of central banks fighting to protect their economies from sliding exchange rates.

Japan PM Abe says to keep revision to BOJ law as future option

(Reuters) - Japanese Prime Minister Shinzo Abe said on Wednesday that he is trusting the Bank of Japan governor but will leave revision to the law guaranteeing central bank independence as a future option.

French succumb to temptation of cash as taxes climb

PARIS: French handyman Bruno works full-time doing repair work on homes around Paris. But he says the real reward comes after all paperwork has been signed and customers ask for more work - off the books.

Hedge Funds Most Bullish on Gas Since 2006 After Freeze: Energy

Hedge funds are the most bullish on benchmark U.S. natural-gas futures since at least 2006 after a freeze drove prices for the heating fuel to a three-year high.

BRICS economies grappling with midlife crisis, says Roubini

The American economist said the BRICS nations failed to implement second-generation structural reforms that are more micro-based and boost productivity growth.

Greece, creditors still in tough negotiations

ATHENS: Greece's finance minister says the country is still in tough negotiations with representatives of its international creditors over the course of its economic reform program, but insists there is no cause for concern and that the government is not being pressed to impose new austerity measures.

Credit Suisse Bonuses to Have Bonds That Can Be Wiped Out

Credit Suisse Group AG (CSGN), the second-largest Swiss bank, is paying part of 2013 bonuses to top employees in bonds that can be wiped out if the firm fails to maintain enough capital.

Libya's Sovereign-Wealth Fund Sues Goldman Sachs

Goldman Sachs Group Inc. is being sued by Libya's sovereign-wealth fund, according to a spokesman for the fund.

UK unemployment rate falls to 7.1%

The Bank of England sent a clear message that it has no immediate plans to raise interest rates, despite a shock fall in the unemployment rate close to the level at which the Bank said it would consider a hike.

Insight: Norway's $833 billion oil fund eyes riskier bets

OSLO - In May 2012 the world's largest sovereign wealth fund joined U.S. investors BlackRock and Waddell & Reed to buy a $1.6 billion stake in motor racing's Formula One.

Britain to stop housing benefit for jobless EU migrants in April

LONDON: Britain will stop helping jobless immigrants from other countries in the European Union with their housing costs from April, two cabinet ministers said on Monday, saying they wanted to reverse "a shameful betrayal" of British workers.

Switzerland, EU kick off tax talks

GENEVA: Switzerland and Brussels began talks Friday to update a deal under which taxes on savings banked in the Alpine country by EU citizens are paid back anonymously to their homelands.

Citic Hedge Fund Will Focus on Yuan, Other Emerging Currencies

Former FX Concepts LLC executives Robert Savage and Ron DiRusso are starting a hedge fund with Citic Capital Holdings Ltd. that will trade emerging-market currencies with a specific focus on the Chinese yuan.

Liberia has "medium-term" plans for intl bond: Finance Minister

LONDON (Reuters) - Liberia has "medium-term" plans to launch an international bond but will first seek a debt rating which it anticipates will be in the single-B category, the West African country's finance minister said on Wednesday.

Abu Dhabi Fund Said to Buy Time Warner Building With GIC

Abu Dhabi Investment Authority, one of the world’s biggest sovereign wealth funds, is investing alongside Singapore’s state fund GIC Pte in the headquarters of Time Warner Inc. (TWX) in New York City, according to a person with direct knowledge of the transaction.

Bank of Canada Poll Shows Business Modest Expansion Plans

Canadian businesses expansion plans are being restrained by weak demand, with executives saying they’re waiting for signs of strength before making investments, according to a central bank survey.

Why Norwegians Are Millionaires and Americans Are Paupers

Among the reasons Norwegians can celebrate Norway are the '80s band A-ha, the narrow geological formations called fjords, oil and the biggest sovereign wealth fund in the world.

China edges US out as biggest trader?

BEIJING: China may have surpassed the United States to become the world's biggest trading nation as its foreign trade crossed the $4-trillion mark in 2013.

US wholesale inventories rise in November, sales up

WASHINGTON: US wholesale inventories rose a bit more than expected in November, suggesting that restocking would probably contribute to economic growth in the fourth quarter.

EU plans for trading rules widen global gap in bank regulations

LONDON: Banks were pleased this week by news that Europe would impose less-restrictive rules on trading than the United States, but the announcement proves that global regulations are likely to remain inconsistent despite pledges to unify them.

No bonanza yet for big funds from new rules to cut risk

LONDON (Reuters) - If pension funds, insurers and sovereign wealth funds were hoping to cash in on lending "high quality" assets to those scrambling to meet tougher collateral requirements in 2014, they are likely to be disappointed.

China plans new privately financed banks

Up to five private banks will be created in China this year as it looks to open up the financial sector and raise competition in the industry.

Biggest Indonesian Fund to Boost Equities, Bonds: Southeast Asia

Indonesia’s biggest pension fund plans to boost equity and bond holdings in 2014 as it expects domestic consumption and a possible reduction in interest rates to raise company earnings in a presidential-election year.

Abu Dhabi's ATIC to invest up to $10 bn in US chip plant

ABU DHABI: Abu Dhabi's Advanced Technology Investment Company (ATIC) plans to invest up to $10 billion over the next two years in GlobalFoundries' New York semiconductor factory, its chief executive said on Friday.

2014 could be better year for US economy: Ben Bernanke

WASHINGTON: Federal Reserve Chairman Ben Bernanke said on Friday that factors which have kept the economy from accelerating appear to be abating, and he predicted stronger growth in 2014.

Lending to business suffers biggest fall since 2011, Bank of England data shows

Lending to businesses has suffered its biggest drop since April 2011, raising concerns about the strength of the economy and the impact of schemes intended to increase banks' appetite to lend.

U.S. factory, jobs data show underlying strength in economy

(Reuters) - U.S. factory activity held near a 2-1/2-year high in December and the number of Americans filing new claims for jobless benefits fell again last week, suggesting the economy was poised for stronger growth in 2014.

Blackstone to invest $200 million in Crocs: WSJ

NEW YORK: Blackstone Group LP is making a $200 million investment in Crocs Inc that will give the private equity firm a 13 percent stake in the shoe company, Crocs' chief financial officer told the Wall Street Journal on Sunday.

Gold Surrenders Streak as Investors Embrace Stocks With 20% Gain

Investors’ 12-year love affair with gold ended in 2013 as they abandoned the precious metal for stock markets in the world’s developed economies, lifting global share prices by the most in four years.