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The private capital industry has grown to more than $7tn thanks to demand for higher-returning but pricey and opaque strategies, spurring the likes of Schroders and JPMorgan to launch new divisions and sending others on the prowl for acquisitions.  Although still dwarfed by the traditional asset management industry — which primarily invests in mainstream, public
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US consumer prices accelerated by the most in nearly 13 years in May as pent-up demand combined with higher prices for goods to stoke concerns about inflationary pressures.  Consumer prices rose 5 per cent last month compared with a year ago, the Bureau of Labor Statistics said on Thursday. That represents the steepest increase since
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Thousands of websites went offline for almost an hour on Tuesday morning, including several of the world’s largest news sites, streaming services, online retailers and even the UK government, disrupting millions of internet users. Connectivity problems lasting almost an hour appeared to affect news sites including the BBC, New York Times and FT.com, streaming services
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Unprecedented. Seismic. World-changing. The finance chiefs of G7 countries reached for superlatives as they hailed Saturday’s corporate tax deal. After nearly a decade of talks, it is a remarkably bold plan. But expectations of a massive tax windfall are misplaced.  The accord has two components. One aims to address the race to the bottom on
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The G7 advanced economies have struck what they have termed a “historic agreement” on taxing multinationals in a bid to create unstoppable momentum for a global deal. A communique issued on Saturday showed that the US, Japan, Germany, France, UK, Italy and Canada had found enough compromise both to stop companies shifting profits to low
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Global food prices surged by the biggest margin in a decade in May as one closely-watched index jumped 40 per cent in the latest sign of rising food inflation. The year-on-year leap in UN Food and Agriculture Organization’s monthly food price index was the largest since 2011 and signalled that inflation initially stoked by pandemic
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The market for special purpose acquisition companies has become an unexpected casualty of the Archegos Capital Management scandal, as banks rein in lending to hedge funds that had invested heavily in blank-cheque companies. Banks across Wall Street have become more wary of how much leverage they can extend to their clients following the collapse of
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