The good news for asset managers is that they will get an average pay increase this year of 5%. The bad news is that increased spending on technology is reducing the amount of money available to their compensation pools. That’s the conclusion of the annual Asset Management Compensation study jointly published by financial services research firm Greenwich Associates and pay ...

One way or another, Europe is determined to get tech companies to pay their fair share. All that remains is to decide the meaning of “tech company,” “pay,” “fair” and “share.” After months of talks, France and Germany have proposed a plan to tax big digital companies 3 percent of their Europe-based advertising revenue. This is a scaled-back version of ...

If you only scan the headlines, you could be forgiven for thinking that the US-China trade war is mainly about tariffs. After all, the president and trade-warrior-in-chief has called himself “Tariff Man.” And the tentative trade deal between US President Donald Trump and Chinese President Xi Jinping was mainly about tariffs, especially on items like automobiles. But the startling arrest ...

As the effects of climate change loom ever larger, financial markets are embracing sustainability. Long a marginal concern at best, it has become a central component of any successful investment strategy. It’s no wonder the financial industry is starting to incorporate global warming in its risk assessments and requirements for transparency: Recent natural disasters, like the fires in California or ...

Any move by the Federal Reserve is the subject of concern and debate, as it should be. President Donald Trump has gotten involved in that debate, breaking a tradition of recent decades of presidential silence about Fed policy. He is “not even a little bit happy” about higher interest rates. Some economists join Trump in thinking that the Fed is ...

Bloomberg US equities slumped with stocks in Europe and Asia as traders mulled the outlook for global growth and a potential escalation of tension between Washington and Beijing. The pound weakened as Theresa May was said to delay a crucial Brexit vote. The S&P 500 Index was led lower by banks and energy companies as technology shares fared better following ...

Bloomberg The pound dropped to its weakest level in almost 18 months and government bonds rallied as UK Prime Minister Theresa May was said to have called off a crucial vote in Parliament on her Brexit deal. Sterling weakened versus all its Group-of-10 peers as the vote, set originally for Tuesday, would be rescheduled, according to a person familiar with ...

Bloomberg Wall Street’s biggest banks are scouring US data for signals of an impending recession. On balance, they’ve been finding that a 2019 downturn still isn’t likely — though it’s becoming slightly more so. The current expansion is eight months away from becoming longest in postwar history. Most indicators remain solid enough to suggest it’ll get there. But sell-off in ...

Bloomberg Urjit Patel resigned as governor of India’s central bank amid growing differences with the government on addressing issues ranging from problems at the country’s lenders to utilisation of capital reserves. “On account of personal reasons, I have decided to step down from my current position effective immediately,” Patel said in a statement posted on the central bank’s website. Patel, ...

Bloomberg Commerzbank AG is replacing two top executives as progress in Chief Executive Officer Martin Zielke’s turnaround plan remains uneven. Michael Reuther, who heads the corporate clients unit, will leave when his term expires next September, while Chief Operating Officer Frank Annus-cheit is stepping down at end of the year for health reasons. The changes touch on two key pieces ...