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The private capital industry has grown to more than $7tn thanks to demand for higher-returning but pricey and opaque strategies, spurring the likes of Schroders and JPMorgan to launch new divisions and sending others on the prowl for acquisitions.  Although still dwarfed by the traditional asset management industry — which primarily invests in mainstream, public
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Global regulators are calling for cryptocurrencies to carry the toughest bank capital rules of any asset, arguing that requirements for holding bitcoin and similar tokens should be far higher than those for conventional stocks and bonds. Banks with exposure to volatile cryptocurrencies should face stricter capital requirements to reflect the higher risks, said the Basel
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Thousands of websites went offline for almost an hour on Tuesday morning, including several of the world’s largest news sites, streaming services, online retailers and even the UK government, disrupting millions of internet users. Connectivity problems lasting almost an hour appeared to affect news sites including the BBC, New York Times and FT.com, streaming services
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The G7 advanced economies have struck what they have termed a “historic agreement” on taxing multinationals in a bid to create unstoppable momentum for a global deal. A communique issued on Saturday showed that the US, Japan, Germany, France, UK, Italy and Canada had found enough compromise both to stop companies shifting profits to low
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The leading advanced economies are set to agree a common position on taxing multinational companies on Saturday in a bid to end a three-decade race to the bottom in corporate taxation which would raise extra revenue for governments around the world.  Finance ministers from the G7 group of nations were still haggling over details of
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Commodities trader Trafigura warned Credit Suisse last year that the bank’s supply-chain finance funds appeared to contain a suspicious invoice from industrialist Sanjeev Gupta’s business empire, according to three people with knowledge of the discussions. The collapse of the $10bn suite of Credit Suisse funds, which packaged up invoices linked to the failed supply-chain finance
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The US has moved to punish Belarus for the forced landing of a Ryanair flight last weekend by announcing that it would reimpose sanctions on nine of the country’s state-owned companies and would join the EU in developing a list of additional targets. In a statement late on Friday, Jen Psaki, the White House press
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The market for special purpose acquisition companies has become an unexpected casualty of the Archegos Capital Management scandal, as banks rein in lending to hedge funds that had invested heavily in blank-cheque companies. Banks across Wall Street have become more wary of how much leverage they can extend to their clients following the collapse of
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The Biden administration has renewed US calls for a fuller investigation into the origins of Covid-19, after a report last weekend bolstered the theory that the disease was released accidentally from a laboratory in the Chinese city of Wuhan. Andy Slavitt, one of the US president’s coronavirus advisers, on Tuesday said the investigation carried out
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EU leaders are weighing a range of sanctions to punish Alexander Lukashenko’s Belarusian regime after what Brussels branded the “hijacking” of a Ryanair flight from Greece to Lithuania to arrest a dissident on board. Options to be explored by the bloc’s 27 leaders at a meeting today include banning Belarus’s national carrier, Belavia, from landing
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