News
Anbang Insurance gets $10bn rescue package
Chinese insurance giant Anbang is to get a capital injection worth RMB60.8bn (£6.9bn, $9.7bn, €7.9bn), a month after control of the group was seized by the country’s insurance regulator and as its ex-chairman faces life behind bars.
Best Practice | news 3 Apr 18
Five firms pull free pension transfer tool
Prudential, Scottish Widows and LV are the latest providers to stop their free pension transfer value analysis services (Tvas) for advisers, as they respond to regulator concerns that such tools could act as an inducement.
PEOPLE MOVES: Man Group, BMO GAM, Ostrum
A Wall Street heavyweight has joined Man Group, while BMO Global Asset Management has made three senior hires to bolster its socially responsible investing and Ostrum Asset Management has hired an equity chief investment officer.
Rapper plays hit song to avoid maximum tax evasion jail term
A US judge showed leniency in the tax evasion trial of rapper DMX after listening to one of his hit tracks about his difficult childhood.
Emerging Markets | news 3 Apr 18
Saudi Arabia emerging market upgrade creates opportunities
Saudi Arabia’s promotion from frontier to emerging market in FTSE Russell indices is an opportunity for short-term investors to take profits, while longer-term investors can take the announcement as confirmation the market is moving in the right direction.