European stocks and US futures rose on Thursday after the Federal Reserve kicked off a series of central bank policy meetings this week by delivering its smallest rate rise since March.The region-wide Stoxx Europe 600 added 0.9 per cent and London’s FTSE gained 0.3 per…

Shell made a record annual profit for 2022 of almost $40bn, beating market expectations in the final three months of year on the back of a strong performance from its gas trading business.Europe’s largest oil and gas company said on Thursday that adjusted earnings had…

Good morning. It looks like the US is in a manufacturing recession. Yesterday’s ISM manufacturing report showed the sector shrinking for the third straight month, and the ISM index has dipped below where it bottomed in recent non-recessionary downturns, such as 2015-16. The contrast with…

One scoop to start: Banks that lost billions from the meltdown of Archegos Capital Management will get back as little as 5 cents on the dollar from its restructuring, with brokers such as Goldman Sachs funding the payouts using cash left in the family office’s…

Investment bankers who string together complex corporate takeovers have a new item on their checklists: avoid deal terms that force acquirers to refinance debt.Keeping old borrowings on the books rather than rolling into new bonds and loans has become a priority for private equity groups…

Matthews Asia plans to convert its $80mn Korea Fund into an ETF, a filing shows.All or substantially all of the fund’s assets are expected to move into the newly formed Korea Active ETF, the manager has disclosed.The fund’s board expects to consider the conversion in…