Financial

Blackstone has hired a high-stakes law firm to determine if it can recover losses exceeding €200mn from a loan made to Bain Capital, a rival buyout shop. According to sources familiar with the situation, the $1tn US company is paying…

The UK's top financial regulator warned that a sharp rise in global rates will likely lead to a fall in the value of private assets. It also confirmed that it is looking at the risks that are building up in sectors like real estate.…

UBS reached a settlement with the Government of Mozambique regarding Credit Suisse's involvement, in an alleged fraud involving "tuna bonds" that ruined the country's financial situation. This was just days before the London trial. UBS…

People familiar with the plans of the UK's top financial regulatory body say that it is planning to conduct a comprehensive review of private market valuations amid rising concerns about the impact of increased borrowing costs on this…

The shares of Victoria, the UK-based supplier of red carpets for the royal family, fell on Monday, after its auditor warned that there was "risk of fraud material" in the group's accounts. Victoria has undergone a transformation over the…

The US Securities and Exchange Commission has fined German asset manager DWS $19mn for greenwashing. This is the highest amount the regulator has ever imposed on an investment advisor. The Securities and Exchange Commission charged the…

Italy has further diluted its windfall tax for banks by adding a clause that gives lenders the option of paying the levy instead. This is a concession made to critics, including the European Central Bank. Giorgia Melons, the Italian…

Rents in Britain are at their highest level ever as interest rates rise, driving away potential buyers. According to Hamptons, the average monthly rental cost is 12 percent higher than it was at this time last. It has risen by £140, to…

Wilko pensioners will see their savings cut after the defined benefit plan of the retailer collapsed and fell into the Pension Protection Fund. According to PwC's latest estimates, the deficit of the scheme with 2,000 members has…

Creditors of what was India's once most valuable start up have claimed that the Indian education technology firm Byju's has transferred $533mn from a Florida hedge fund registered at a pancake restaurant. In court documents filed in…

One of France's largest banks told its clients to withdraw their money from the Eurozone and send it back to Britain. BNP Paribas, the investment bank, has advised clients to invest in British stocks. The reason given was that the…

Lord Rothermere’s Daily Mail and General Trust held talks with Qatari supporters to support a joint bid for Telegraph Media Group. This is the latest example of bidders scouring oil-rich Gulf countries for financial backing for the UK’s…

After a number of failures, a leading British household electricity supplier wants to reverse new rules that were intended to boost the financial resilience of suppliers. Utilita has around 800,000 clients and argues the regulator…

Foreign investors sold record amounts of Chinese shares in August, as Beijing's piecemeal measures to support the economy failed to ease concerns about the slowing growth and the worsening property crisis. The unprecedented outflows…

3M has reached a settlement of $6bn with over 250,000 veterans who claim that the combat earplugs they supplied to US Army did not protect them against hearing loss. The company announced on Tuesday it would provide $5bn cash and $1bn…

Goldman Sachs agreed to sell a division of its Personal Financial Management Division as David Solomon, the chief executive continues to unravel a failed foray into Consumer Banking. Creative Planning, a retirement and investment…

Goldman Sachs has begun exploring the sale of its investment advisory business, which it acquired four year ago. This is a further retreat away from Goldman Sachs' goal to become a major bank for mass-market clients. The Wall Street firm…

Ryanair has made £18 billion from adding-on fees in the last decade. Passengers are charged "eye-watering" amounts to book seats and store bags. The analysis shows that the airline's "ancillary revenue" has exploded from €1.06bn in…