A popular joke in provincial and specialist media is to exaggerate a local angle to the point of absurdity. “South Ayrshire Golf club owner loses 2020 presidential election,” for example, or “New Yorker stepping down as UK PM”. The same thing happens in broker research,…

Capital Group has tapped Mike Gitlin, its head of fixed income, to become its next chief executive, as the world’s largest active asset manager continues expanding beyond its roots in US equity funds.Gitlin, who joined Capital in 2014 from T Rowe Price, takes over the…

Turkey has unveiled a new scheme to push exporters to hold less foreign currency as the government of Recep Tayyip Erdoğan steps up its battle to defend the lira ahead of this year’s elections. The country said on Thursday it would offer companies new incentives…

The IMF has warned that an abrupt change in Japan’s ultra-loose monetary regime would have “meaningful spillover” effects on global financial markets, underscoring the need for the Bank of Japan to clearly communicate about its future policy. In an interview, Gina Gopinath, the IMF’s first…

European stocks and Wall Street futures edged higher on Thursday, with a flurry of US macroeconomic data and corporate results set to shed further light on the health of the world’s biggest economy.The regional Stoxx Europe 600 added 0.5 per cent and Germany’s Dax rose…

There’s a long-running gripe among China-focused western bankers that the further an investor is from Beijing, the more negatively they view the Middle Kingdom. That has seldom been more true than today when despite a one-third rally in Chinese stock benchmarks in just three months,…