The private equity owner of HighTower
Advisors is exploring ways to cash out of the largest registered
investment adviser in the United States, including through a
potential sale of the company, people familiar with the matter
said on Friday.
U.S. manufacturing and
services sectors activity stalled in February amid growing
concerns about the deadly coronavirus' impact on the economy,
boosting investor demand for safe-haven assets like government
European Central Bank chief
economist Philip Lane defended his bank's experiment with
negative interest rates on Friday but said he was aware of the
risks and the ECB was watching for unwanted side effects.
Italy's biggest bank UniCredit
may make an announcement as early as Friday night on
the future of boss Jean Pierre Mustier, two sources familiar
with the matter said, after reports he is vying for the top job
at rival HSBC.
The world's financial services
sector risks losses of up to $1 trillion if it fails to respond
quickly to climate change and is hit by policy shifts such as
the introduction of a carbon tax, a new report shows.