Reforms made in the financial services industry through the retail distribution review or RDR implemented in January by a UK regulator has brought private equity to the arms of wealth managers, according to a report from Citywire.
Industry
Private equity firms fuel consolidation of IT services and BPO in India
In a report, the Business Standard said private equity firms are a significant contribution to the consolidation of IT services and BPO sector in India. There were five private equity transactions closed this year that totaled USD1.13 billion in value.
Dow Jones index for the first time closes above 16,000
The Dow Jones Industrial Average, for the first time, closed above the psychological threshold of 16,000, extending a stock rally that had already experienced a 22% spike so far this year.
Wevorce raises USD1.7 million to help streamline divorce through technology
Wevorce has announced that it has received USD1.7 million in new seed funding from investors such as Foundation Capital and Sam Altman. This brings the startup's total funding, which launched out of Y Combinator last March 2013, to USD2 million.
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Thursday including Omnicom, General Motors, Deutsche Telekom, Devon Energy and others
Latest News
Bank of America CEO Brian Moynihan and Federal Reserve Board Governor Jerome Powell will be among bank executives and regulators speaking at an industry conference in New York hosted by The Clearing House Association, which represents interests of the biggest commercial banks.
The United States could start missing payments on its obligations some time between March and June if lawmakers don't raise a legal limit on borrowing by early February, congressional analysts said on Wednesday.
Federal Reserve officials felt they could decide to start scaling back the U.S. central bank's massive asset purchase program at one of its next few meetings, provided this was warranted by economic growth, minutes of the Fed's October policy meeting showed.
One of the first things you usually do when meeting a new financial adviser is to answer a series of questions to determine how much risk you can stomach.
An article on Bloomberg provided its observations on how the stock rally had influenced the increasing number of initial public offerings on the Japan bourse starting this year.
According to China's Ministry of Commerce, investments from the European Union increased the most in the world's second largest economy in the first 10 months of the year.
The skyrocketing prices of properties in Singapore led to a corresponding property boom in Malaysia where overseas buyers are targeting to buy homes, according to a Bloomberg report.
Bank of America Merrill Lynch or BofAML has topped Citibank and Morgan Stanley in executing deals in India for the past 11 months, completing transactions worth USD 7.96 billion.
An annual Citibank survey found that Hongkongers' interest in purchasing property dropped more than 10% year-on-year and that the average quarterly property transactions fell by 40%.
