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Crisis-stricken Venezuela says to establish single forex rate

CARACAS (Reuters) – Venezuelan President Nicolas Maduro said on Friday night the country would establish a single exchange rate that would be pegged to...

Chicago teachers pension fund divesting from private prisons

By Laila Kearney NEW YORK (Reuters) – The Chicago Teachers’ Pension Fund’s board of trustees voted on Friday to phase out investments in companies that...

USTR doubles length of tariff hearing on $200 billion of China...

WASHINGTON (Reuters) – The U.S. Trade Representative’s office said on Friday it doubled the length of tariff hearings on the next $200 billion...

S&P affirms Hungary’s sovereign rating

(Reuters) – Ratings agency Standard & Poor’s affirmed Hungary’s “BBB-/A-3” credit rating on Friday, citing the country’s surplus external position and substantial net foreign...

Exclusive: ValueAct invests $800 million in financial stocks in second quarter...

By Svea Herbst-Bayliss BOSTON (Reuters) – Activist hedge fund ValueAct Capital Management boosted investments in financial stocks by more than $800 million during the second...

Argentina president says poverty to rise as economy slumps

By Scott Squires BUENOS AIRES (Reuters) – More Argentines are likely living in poverty now compared with last year, President Mauricio Macri said on Friday,...

UK court issues asset freeze order against Russia’s Vozrozhdenie Bank: law...

MOSCOW (Reuters) – The Commercial Court in London has ordered a freeze of assets owned by brothers Dmitry and Alexei Ananyev, secured against Russia’s...

Crisis-era mortgage probe nears end with RBS settlement

By Joy Wiltermuth NEW YORK (IFR) – A multi-year investigation by US regulators into the role that big banks played in creating toxic mortgage securities...

Top oil hedge funds suffer big losses after July price plunge:...

By Devika Krishna Kumar and Maiya Keidan NEW YORK (Reuters) – Two of the world’s largest energy-focused hedge funds, Andurand Capital and BBL Commodities,...

Lower recovery rates to haunt U.S. leveraged loans

By Yun Li and Jonathan Schwarzberg NEW YORK (LPC) – Overwhelming demand for floating-rate leveraged loans has eroded credit quality and will lead to more defaults...
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