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☆ Fatal Houthi rebel attack may be a ‘red line’ in Red Sea shipping crisis
▼ + stars: | 2024-03-07 | by ( Hanna Ziady | ) edition.cnn.com time to read: +6 min

The deadly strike marks a significant escalation of the Houthi attacks on ships in the Red Sea and and comes despite a US-led naval coalition to protect the crucial waterway. Fewer ships appear to be transiting through the Red Sea and adjoining Suez Canal after the latest attack, according to maritime risks analytics company Windward. According to Windward, the number of bulk carriers anchoring outside ports to the north and south of the Suez Canal surged 225% Wednesday compared with the previous day. Windward data shows that last month the number of bulk carriers in the Red Sea was already at its lowest level in two years. Just 30% of the usual shipping capacity — including container ships, bulk carriers, car carriers, and tankers carrying oil and liquefied natural gas — is still passing through the Red Sea and Suez Canal, according to Sand.

Persons: Ami Daniel, ”, Peter Sand, “, Hapag Lloyd —, Christine Lagarde, CMA CGM, Stephen Cotton, Cotton, David Ashmore, Reed Smith, John Stawpert, ” Maisie Linford Organizations: London CNN, Liberian, ” Windward, CNN, Maersk, MSC, European Central Bank, Drewry, CMA, International Transport Workers ’ Federation, International Chamber of Shipping Locations: Red Sea, Iran, Suez, Africa, Windward, Red, Norway, Sand, “, London, Good, Gulf, Aden and Red, Aden

☆ UK stocks fall after Bailey's hawkish tone on interest rates
▼ + stars: | 2023-10-13 | by ( Khushi Singh | ) www.reuters.com time to read: +2 min

The commodity-focussed FTSE 100 (.FTSE) was down 0.1%, while the mid-cap index FTSE 250 (.FTMC) lost 0.5%. The yield on the UK benchmark bond edged higher after Bailey's comments but remained lower for the day at 4.402%. "Although higher dollar and yields would typically weaken gold, the geopolitical concerns are pushing gold higher," said Giles Coghlan, chief market analyst at GCFX. Industrial metal miners (.FTNMX551020) also advanced 0.6% following a rise in copper prices. UK wealth manager St James's Place (SJP.L) was pushed by regulators to overhaul fees, with the stock tumbling 13.5% to the bottom of the FTSE 100.

Persons: Toby Melville, Ashmore, Andrew Bailey, BoE Governor Andrew Bailey, Giles Coghlan, Coghlan, St James's, Khushi Singh, Sonia Cheema, Sohini Organizations: London Stock Exchange, REUTERS, Bank of England, Mining, Shell, BP, St, Thomson Locations: Canary Wharf, London, Britain, James's, Iran, Israel, China, Bengaluru

☆ FTSE 100 dragged down by global gloom, Barratt warning
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +1 min

Signage for the London Stock Exchange Group is seen outside of offices in Canary Wharf in London, Britain, August 3, 2023. REUTERS/Toby Melville/File Photo Acquire Licensing RightsSummaryCompanies FTSE 100 down 0.5%, FTSE 250 falls 0.4%Sept 6 (Reuters) - UK's FTSE 100 slipped on Wednesday as recent soft economic data from China and Europe continued to weigh on global sentiment, while shares of Barratt Developments fell after the homebuilder warned of a tough housing market environment. The exporter-heavy FTSE 100 index (.FTSE) dropped 0.5% in early trade, while the domestically focussed FTSE 250 index (.FTMC) declined 0.4%. Global markets also extended losses for a second day as faltering growth in China and Europe heightened concerns about global economic momentum. GLOB/MKTSEmerging markets-focused fund manager Ashmore's shares (ASHM.L) fell 4.3% after it reported a 6% drop in annual profit.

Persons: Toby Melville, Barratt, Ashmore's, WH Smith, Siddarth, Sohini Goswami Organizations: London Stock Exchange, REUTERS, Barratt, Global, Thomson Locations: Canary Wharf, London, Britain, China, Europe, Bengaluru

☆ A Shoe Entrepreneur’s Globally Inspired Barbecue
▼ + stars: | 2023-07-26 | by ( Catherine Hong | ) www.nytimes.com time to read: +2 min

“He had told me it would be just ‘a few friends coming over,’” Pamela Bell, the generous neighbor with the townhouse, recalled recently. - Three Easy Summer Dishes: The French chef Yann Nury elevates classic seasonal recipes with fresh flavor combinations and a few luxurious additions. - A Lebanese Feast in Amsterdam: In a traditional Dutch canal house, a creative strategist organizes a dinner party to introduce a new collection inspired by her mother’s homeland. - Host Gift Guide: What T’s editors and contributors are bringing to thank their hosts this summer, including surreal serving spoons and cozy quilts. In the shady backyard, Ashmore planted native ferns and bayberry bushes and installed a gravel patio with a fire pit.

Persons: Mickey Ashmore, “, ’, Pamela Bell, Yann Nury, Ashmore —, San Francisco —, Ashmore, Ishtiaq Rafiuddin, Eames, Phillip Vigil Organizations: Credit, San, New Locations: Sabah, Istanbul, Ibiza, Long, French, Amsterdam, New York, London, Dallas, East Hampton’s Springs, Detroit, New Mexican

☆ Ashmore assets under management hit by flight from emerging markets
▼ + stars: | 2023-07-14 | by ( ) www.reuters.com time to read: +1 min

LONDON, July 14 (Reuters) - Investment group Ashmore's (ASHM.L) assets under management dropped by $1.8 billion in the three months to June 30, down 3% from the previous quarter, as investors retreated from emerging markets owing to global macroeconomic uncertainties. Net outflows amounted to $2.9 billion, the emerging markets-focused asset manager reported on Friday, citing institutional clients' top-down asset allocation decisions to pull back on emerging market hard-currency debt and other fixed income in developing economies. Meanwhile, a positive investment performance of $1.1 billion cushioned the overall impact on assets under management, which stood at $55.9 billion at the end of June. "There remains some global macro uncertainty and certain investors have therefore reduced risk during the quarter," said Chief Executive Mark Coombs. "However, emerging markets continue to perform well, with support from improving fundamentals such as accelerating GDP growth, falling inflation and the potential for rate cuts, as well as the benefit of a weaker U.S.

Persons: Jeffries, Ashmore, Mark Coombs, Karin Strohecker, Dhara Ranasinghe, David Goodman Organizations: Thomson

☆ Lazard, facing a dealmaking drought, is on a mission to boost its money management business. It won't be easy.
▼ + stars: | 2023-07-06 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +11 min

The group extends guidance on geopolitical matters to clients as well as colleagues, like the asset management arm's sprawling salesforce. The firm is making a series of changes to ramp up its asset management business. Lazard has had an asset management business for decades, but it's a business that's finding new relevance on Wall Street. Incoming Lazard CEO Peter Orszag, pictured here in May, has made improving the asset management business a priority. "When it comes to the asset management business, the picture is probably more blurry," said Richard Bruyère, managing partner of the Paris-based asset management advisory firm Indefi.

Persons: Lazard, Evan Russo, Yevgeny Prigozhin, Peter Orszag, Barack Obama, Bill Clinton, it's, Russo, Orszag, Ray McGuire, Jennifer Ryan, Goldman Sachs, Brennan Hawken, Richard Bruyère, Bruyère, Ryan, Hartley, Morgan Stanley, Janus Henderson, Ashmore, Devin Ryan, AllianceBernstein, Larry Cohen, " Russo, Peter Organizations: Lazard, BlackRock, Citi, New York, North, Incoming Lazard, REUTERS, UBS, Investors, Firms, Virtus, Liontrust, Bank's JMP Securities Locations: Russia, New York, Washington, North America, Paris, Taft, Asia

☆ Bitcoin soars to nine-month high as investors weigh bank risks and interest rates: CNBC Crypto World
▼ + stars: | 2023-03-20 | by ( Pippa Stevens | Jordan Smith | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin soars to nine-month high as investors weigh bank risks and interest rates: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Dan Ashmore of CoinJournal discusses why bitcoin is still correlated with stocks, despite the recent rally.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin dips and, FTX exec flagged potential fraud to regulators before collapse: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Dan Ashmore, cryptocurrency analyst with CoinJournal, discusses where crypto investors are moving their funds as trust in the industry collapses following the fall of FTX.

☆ Intrepid septuagenarians have cold water poured on cross-channel record
▼ + stars: | 2022-12-14 | by ( ) www.reuters.com time to read: +2 min

The brave septuagenarians arrived on Sangatte beach near Calais in September having entered the water 21 miles away on England's Kent coast 18 hours earlier in pitch darkness. But their incredible achievement has not been ratified by The Channel Swimming and Piloting Federation (CSPF), because of what was described as an 'illegal changeover'. Group leader Bob Holman, 78, said he was 'totally gutted' that 'nit-picking and a pedantic attitude' by the overseeing organisation had denied them the record. Legal action is now being considered by the group whose effort raised thousands of pounds for an Alzheimer's charity. The Channel Swimming and Piloting Federation has been approached by Reuters for comment.

☆ FTSE rallies on hopes of fiscal plan reversal
▼ + stars: | 2022-10-14 | by ( Sruthi Shankar | ) www.reuters.com time to read: +3 min

The blue-chip FTSE 100 (.FTSE) gained 0.9%, while the domestically focussed FTSE 250 (.FTMC) added 0.9%. Both indexes have recouped a large part of their losses this week but remain on track to record their fourth weekly decline in five. However, futures point to a weak start for U.S. stocks on Friday, with investors nervously awaiting quarterly reports from big Wall Street banks. read moreEmerging markets-focussed investment group Ashmore (ASHM.L) dipped 2.6% after reporting an $8 billion fall in assets under management for the September quarter. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Sruthi Shankar in Bengaluru; Editing by Savio D'SouzaOur Standards: The Thomson Reuters Trust Principles.

☆ Sri Lanka to unveil debt restructuring plan to creditors
▼ + stars: | 2022-09-23 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +2 min

Sri Lanka's President Ranil Wickremesinghe looks on during an interview with Reuters at Presidential Secretariat, amid the country's economic crisis, in Colombo, Sri Lanka August 18, 2022. The government has already held preliminary restructuring talks with neighbour India and diplomats based in Colombo. "Sri Lanka is focused on trying to get the IMF deal finalised by December or early next year." Sri Lanka's foreign currency debt was $47.3 billion as of end-2021 and local-currency debt at $53.6 billion, according to an update from the Ministry of Finance in August. The foreign currency debt includes $13 billion in international sovereign bonds held largely by private creditors, such as asset managers BlackRock (BLK.N) and Ashmore (ASHM.L).

Sri Lanka is struggling with its worst economic crisis in more than seven decades, which has led to shortages of essentials and the ouster of a president. BILATERAL DEBT TALKSSri Lanka also needs to renegotiate debt with bilateral creditors such as China, Japan and India. As a middle-income country, according to the World Bank, Sri Lanka is not able to engage in talks with bilateral creditors under the G20 common framework for debt treatments. Sri Lanka's total foreign currency debt of $38.7 billion amounts to 48.2% of GDP, the latest IMF report showed in March. The central bank governor said that the country has paid Sri Lanka Development Bonds in both dollar and local currency.

☆ Factbox: Sri Lanka set to begin talks to restructure debt of $30 bln
▼ + stars: | 2022-09-22 | by ( Uditha Jayasinghe | ) www.reuters.com time to read: +3 min

WHY THE NEED TO RESTRUCTURE DEBT? That in turn requires negotiation with private creditors and two-way lenders. That includes $13 billion in international sovereign bonds held largely by private creditors, such as asset managers BlackRock (BLK.N) and Ashmore (ASHM.L). The Paris Club informal group of creditor nations that includes India and Japan holds $4.9 billion of Sri Lanka's debt, and China about $5 billion more. Sri Lanka is the first middle-income country to default after the COVID-19 pandemic.

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