Goldman Sachs execs grilled in 1MDB probe
Singapore’s economic crime unit has interviewed current and former Goldman Sachs executives over their links to beleaguered sovereign wealth fund 1Malaysia Development Bhd (1MDB), reports Bloomberg.
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Rate rise: One-and-done or the start of tightening?
Portfolio Adviser’s Sebastian Cheek looks at the options for the Bank of England’s monetary policy committee now it has raised interest rates for the first time in a decade.
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Doughnut pioneer charged with $30m Jersey tax fraud
The man who brought the Krispy Kreme Donut franchise to Australia is facing potentially 10 years in jail if found guilty of concealing A$30m in Jersey to dodge tax.
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Second arrest in STM money laundering probe
Police in the STM Gibraltar money laundering investigation have revealed another employee of the cross-border firm has been arrested on suspicion of failure to disclose.
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UK rates rise for first time in a decade
The Bank of England has increased interest rates for the first time in a decade, reversing the 0.25% emergency cut implemented in the aftermath of last year’s Brexit referendum.
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OMI warns UAE bulls on ‘bumpy ride’
Old Mutual International is warning of the risks in the attitude shift after researchers discovered UAE investors are more focused on achieving investment gains than on protecting against losses.
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UAE falls short of top 20 ease of business rankings
The United Arab Emirates has fallen one place short of making it into the World Bank’s 2018 top 20 ease of Doing Business rankings, while the US has leap-frogged the UK into sixth position.
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MAS issues prohibition orders in latest stage of 1MDB scandal
The Monetary Authority of Singapore (Mas) has issued prohibition orders against those involved in the 1Malaysia Development Berhad (1MDB) state fund breach, one of the world’s largest money laundering scandals in recent history.
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Luxembourg’s ‘provocative’ Brexit solution for financial services
In a speech examining the impact of Brexit on European Financial Centres Luxembourg finance minister Pierre Gramegna says the UK has five Brexit options to choose from.
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Advisers reluctantly embracing robo-advice
Robo-advice trust, Brexit certainty and profession growth were all major topics covered in Prudential’s latest report on the key issues facing financial advisers in 2017.
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Analysis: ‘You’re hired’: does Trump’s Fed pick matter?
US president Donald Trump may be touting his pick for Federal Reserve chair as an “anxiously awaited” event, but how are investors preparing for Thursday’s big reveal?
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Old Mutual sells majority stake in Nedbank
Old Mutual will reduce its 54% stake in South African lender Nedbank to 19.9% as part of its ongoing plans to restructure and separate its business.