Canada's second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion pounds ($2.09 billion).
Commonwealth Bank of Australia said on Tuesday it will refund fees taken out of dead client accounts and unwind a controversial system of charging customers commissions on financial products.
Hedge funds may have trimmed their record bet against U.S. Treasuries, as the latest data show, but the 10-year yield's spike to fresh multi-year highs in the days since suggests that short position will now be even greater.
Hedge fund Tourbillon Capital Partners is shutting down after several years of poor returns, making it the third well-known fund to announce plans to close its doors within a week.
Schroders could soon help manage the money of people with significantly less in their bank accounts than the super-rich it has targeted so far, if talks with Lloyds about a wealth management tie-up succeed.
The steep decline in emerging market stocks since early this year are attracting some U.S. fund managers who think they may find long-term bargains amid the sell-off.
