People & Markets

  • John Hempton’s funds enjoy record March

    John Hempton’s funds enjoy record March

    Bronte Capital’s funds posted bumper gains in March. The hedge fund founded by the famous Australian short seller John Hempton benefitted from puts and shorts purchased before other investors panicked about the spread of coronavirus.

  • Pigasse lands as Centerview’s new French boss

    Pigasse lands as Centerview’s new French boss

    Centerview Partners has appointed ex-Lazard rainmaker Matthieu Pigasse as head of its new French operation, as the boutique advisory firm expands in continental Europe with a 15-strong team.

  • FCA eases working capital statement rules in response to Covid-19

    FCA eases working capital statement rules in response to Covid-19

    Equity markets welcomed new measures from the Financial Conduct Authority (FCA) to ease requirements for companies seeking to raise capital to ride out the economic havoc of the Covid-19 pandemic. The most important change is giving companies more flexibility on their 12-month working capital statements, which are required for preparing a prospectus.

  • Hard-hit firms mull market rescues as governments change support goalposts

    Hard-hit firms mull market rescues as governments change support goalposts

    Companies in sectors that lack government support packages are having to weigh moving quickly to secure costly private-sector rescue capital against waiting and hoping governments extend existing bailout or liquidity schemes to them. The cost of Carnival Corp’s $6.25bn package last week showed how expensive private sector cash can be, but many sectors’ prospects of receiving public money are better than the Panama-domiciled cruise company.

  • Insurers bulked up on airline risk as export credit agencies pulled out

    Insurers bulked up on airline risk as export credit agencies pulled out

    Private sector insurance companies have written extensive guarantees for the purchase of new aircraft from Boeing and Airbus in the past two years, filling a gap in the market left by the retreat of US Eximbank and European export credit agencies. But with aircraft around the world grounded and airlines slashing capital expenditure, these insurance firms could be stuck with the risk.

  • UK body gives thumbs up to pre-emption relaxation

    UK body gives thumbs up to pre-emption relaxation

    The Pre-Emption Group, an assembly of listed companiesm investors and intermediaries that monitors pre-emption rights in the UK, has changed its guidelines to say that the impacts of the Covid-19 coronavirus means investors should support companies selling new shares worth up to 20% of their market capitalisation without giving existing shareholders first refusal.

  • Backlash against short selling ban grows

    Backlash against short selling ban grows

    A financial industry fightback against bans on short selling by some jurisdictions is picking up pace, as lobbyists argued against the restrictions this week.

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