Asset management

Ostrum Asset Management announces a major austerity cure

The management company wants to reduce its costs by 25% in two years and is considering 50 voluntary departures within its Parisian teams. Ostrum Asset Management (formerly Natixis AM) is continuing its reorganization. Its managing director, Matthieu Duncan announced to employees on Tuesday that he wanted to reduce costs by 25% by the end of […]

MY

Chinese giants under pressure to sell their assets abroad

In the wake of HNA and Anbang, Chinese groups have sold nearly $ 17 billion in assets abroad since January. Sales that mostly escape international buyers. The financial stranglehold is tightening on the large Chinese conglomerates in Beijing’s sights. Crushed under $ 79 billion in debt, HNA is talking with banks to find a buyer […]

Asset management

Climate: Exxon in the sights of its shareholders

The American oil company is singled out by one of the big European asset managers for its lack of climate strategy. Several of its competitors have already made strong commitments. After Shell, BP, Equinor and Total, it is Exxon ‘s turn to come under pressure from its shareholders in the fight against global warming. One […]

Economy

Scholars turn on Robinhood after GameStop purchases suspended

The brokerage app suspended operations on GameStop for a few hours. Its users criticize its dependence on its largest client Citadel, which has come to the aid of the “hedge fund” Melvin Capital. Robinhood had to urgently raise $ 1 billion to deal with rising compensation costs. For stock marketers engaged in a merciless struggle […]

Asset management

BlackRock’s largest shareholder withdraws

PNC Financial bank announced its intention to sell the 22.4% it had held in the world leader in asset management since 1995. It then paid $ 240 million for an investment valued today at 17 billion. It’s the end of an era at BlackRock. The world leader in asset management has announced that its main […]

Asset management

The giant Amundi has seen its outstandings melt with the coronavirus crisis

The European champion of asset management recorded an outflow limited to 3.2 billion euros in the first quarter thanks to the dynamism of its joint ventures in Asia. The fall of the markets, however, brought down its outstandings by more than 120 billion. The coronavirus pandemic has not called into question the dominance ofAmundi on […]

Conjuncture

Coronavirus: two weeks of confinement erased five years of growth

The Banque de France estimates that the French economy is running at two-thirds of its productive capacity and that the GDP has already fallen by 6% in the first quarter. The debate on the trade-off between health cost and the economic cost of containment will necessarily intensify. The violence of the fall is now known. […]

Economy

The Bank of England once again flies to the rescue of the British economy

The Bank of England announced, this Thursday morning, a strengthening of 150 billion pounds of its asset buyback program, to bring it to 895 billion. Analysts expected an increase of “only” 100 billion. The central bank, on the other hand, leaves its key rate unchanged at 0.1%. This is yet another boost from the Bank […]

MY

French Astorg raises a record fund

The manager left the bosom of Suez about thirty years ago is raising 4 billion euros, after receiving more than double the requests from investors. French unlisted managers are serving as a safe haven in the face of rising macroeconomic concerns from investors. After PAI, the Astorg team has just attracted more than 9 billion […]

MY

Wendel is armed for the reversal of the cycle

The investment holding company is consolidating its financial situation and accelerating its refocusing, after a decline of 17.7% in its revalued net assets since January. Wendel is preparing for a cycle turnaround. “Relatively unpredictable, current macroeconomic and financial market conditions could weigh on the growth of our companies in the months to come”, warned Thursday […]