You know there’s an underlying problem when investment firms start to cut exposure to a particular asset class. Goldman Sachs’ decision last week to slash exposure to emerging markets is an indication of the current situation for these economies. The bank’s asset management arm said that it had scaled back its “overweight” exposure to emerging market currencies and debt amid rising trade tensions between the US and China. Emerging markets are bearing the brunt of an escalating trade war between the world’s two largest economies, and there is no way to be certain when this will end. Last week was the worst for emerging market currencies since the Turkish lira crisis last summer. The Chinese yuan has lost nearly three per cent of its value against the US dollar since 5 May – the day that President Donald Trump tweeted about new tariffs on the country. This rout seems to be spreading to other countries, with MSCI’s index of emerging market … [Read more...] about Are emerging markets ready to fight back?
Market year to date
0 Have your say Recruitment agency Denholm has posted record revenue for 2018 following a 12-month period where the firm strengthened its leadership team, grew the Glasgow office it opened in 2017, and extended its international network. The executive search, recruitment and employer brand agency flagged 13 per cent growth in revenue to £1.3 million as Denholm secured new client wins including ScotRail, National Galleries, Scottish Investment Trust and Hilton Worldwide.Additionally, Robbie Broomfield joined Denholm’s office as business director in the final quarter of 2018 and the agency is set to announce further hires and appointments in the second quarter of this year. Edinburgh-based Denholm in November announced that it had been chosen to be the UK partner of Vienna-headquartered global executive search group Talentor. The deal extends the Scottish firm’s international reach, with Talentor operating in 28 countries worldwide, across … [Read more...] about Denholm welcomes best year to date
Metro Retail shares dip but still up year to dateMetro Retail Stores Group Inc. saw its share price fall week-on-week as investors resorted to profit-taking following a year-to-date peak while also taking a 2018 net profit dip into account. Shares of MRSGI were down 1.5 percent at P3.27 each on Friday from a P3.32 close on March 29, but it was still up by 34 percent since the start of the year albeit slightly down from an April 1 peak of P3.35. Philstocks Financial Inc. research associate Japhet Louis Tantiangco said investors chose to sell following the new high and also after the previous day’s disclosure of a 1.2 percent dip in the firm’s 2018 net income. MRSGI on Thursday reported P965.4 million in profits for the previous year, down from P977 million in 2017 and said to have been weighed down by a fire that hit its supermarket and department store at the Ayala Center in Cebu. The company’s shares fell by 4 percent that day to P3.12 from Wednesday’s P3.25 … [Read more...] about Metro Retail shares dip but still up year to date
FILE PHOTO - David Einhorn, President of Greenlight Capital, Inc., presents during the 2018 Sohn Investment Conference in New York City, U.S., April 23, 2018. REUTERS/Brendan McDermid (Reuters) - David Einhorn’s Greenlight Capital, which turned in one of last year’s worst performance, is up 11 percent in early 2019 and the fund will soon be open to take in new cash, a source familiar with the matter said on Wednesday. Einhorn told investors about his plans at the firm’s annual investor day at the museum of natural history in New York. Greenlight lost 34 percent last year when the average stock oriented hedge fund lost about 7 percent, according to Hedge Fund Research data. Investors pulled money out last year and Greenlight began 2019 with roughly $2.5 billion in assets. The fund, which had been closed to new investors for years, now plans to take in new capital, the source said. There will be no marketing campaign, however, and potential investors would need … [Read more...] about Einhorn’s Greenlight Capital up 11 percent in year to date: source
Candice Williams The Detroit News Published 11:55 PM EST Nov 5, 2018 Detroit — With its industrial environment and gritty charm, the city's Eastern Market neighborhood survived during a time when development was stagnant — even as similar markets in other cities disappeared. Now with development booming in the city and moving outward from the central business district, officials are working on a plan for the neighborhood to keep the core market intact and maintain the area’s identity. The plan comes as at least two new developments are being proposed in the area — a $70 million "gateway" project featuring housing and retail, and a mixed-use development on the site of the former Joe Muer Seafood restaurant on Gratiot. “Our mandate is to try to find ways to preserve and enhance the asset of a neighborhood and make sure that any planning outcome benefits a neighborhood,” said Maurice Cox, the … [Read more...] about Eastern Market looks to keep identity as developments sprout up