Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Standard Chartered has announced plans to double its investment in its wealth management business and shift its focus towards affluent individuals and global institutions following a rise in pre-tax profits in the third quarter. The … Read more
Saudi Arabia’s sovereign wealth fund, the Public Investment Fund (PIF), is planning to reduce the share of its international investments by about a third, signaling a shift towards focusing more on the domestic economy. With approximately $930 billion in assets, the PIF aims to decrease the proportion of funds invested overseas to between 18 and … Read more
“ A modern twist on the phrase “Let them eat cake” reveals that shareholders are reaping the benefits at the expense of workers. A recent report from Oxfam shows that the majority of profits from over 200 U.S. corporations went to wealthy shareholders, with 90% of the $1.25 trillion in net profits going into their … Read more
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UBS Global Wealth Management has upgraded its view on global equities from “neutral” to “attractive”, citing several factors such as resilient U.S. economic growth, monetary policy easing by major central banks, and an artificial intelligence (AI) boom. The analysts at UBS expressed confidence in the economic growth, stating that central banks have been proactive in … Read more