27 May, 2015 by The TZ Newswire Staff Comments Off on Star managers battered by rocky ride in yields, currencies
Star managers battered by rocky ride in yields, currencies
Pimco’s flagship Total Return Fund, which lost its crown as the biggest bond fund in the world in April, had been lagging its peer intermediate-term category and benchmark after going long German bunds and shorting euros against the dollar in recent months. Not every well-established bond manager is having a bad year.
27 May, 2015 by The TZ Newswire Staff Comments Off on Millennial ‘NOwners’ follow Uber with new fashion trading model
Millennial ‘NOwners’ follow Uber with new fashion trading model
The 24-year-old frequents privately-held chain Crossroads Trading Co, where she buys brand-name goods secondhand at a discount, then sells the items back when she wants to refresh her look. Armour, a marketing manager for a nonprofit in Oakland, California, has picked up skirts and shirts, Oxford shoes for $30, a J.Crew trench coat for $40 and a Dooney & Bourke satchel for $150, less than half its retail price. For Millennials – the roughly 77 million Americans born between about 1980 and 2000 – the allure of “no ownership” is moving beyond housing and cars.
27 May, 2015 by The TZ Newswire Staff Comments Off on OPEC sees rivals boosting oil output despite weak prices
OPEC sees rivals boosting oil output despite weak prices
The North American oil boom is proving resilient despite low oil prices, producer group OPEC said in its biggest and most detailed report this year, suggesting the global oil glut could persist for another two years. A draft report of OPEC’s long-term strategy, seen by Reuters ahead of the cartel’s policy meeting in Vienna next week, forecast crude supply from rival non-OPEC producers would grow at least until 2017.
27 May, 2015 by The TZ Newswire Staff Comments Off on Technology replaces schmoozing: the future of private banking
Technology replaces schmoozing: the future of private banking
Swiss private bankers are turning to video games and virtual reality to attract a new generation of skeptical clients and see off digital rivals. Technology is likely to appeal to multi-tasking millionaires with little time to spare. In a fifth floor office just off Zurich’s main shopping street, researchers at UBS (UBSG.VX) are testing dozens of technologies to see what could make the world’s biggest wealth manager more appealing as fortunes pass to the next generation.
27 May, 2015 by The TZ Newswire Staff Comments Off on Currencies: Dollar taps a 12-year high against yen
Currencies: Dollar taps a 12-year high against yen
Fresh highs for the dollar have got analysts on the lookout for any signs of discomfort from U.S.
27 May, 2015 by The TZ Newswire Staff Comments Off on Myth or reality? Greece’s debt saga continues
Myth or reality? Greece’s debt saga continues
Hopes for a deal between Greece and its international lenders were quickly raised and dashed Wednesday.
27 May, 2015 by The TZ Newswire Staff Comments Off on Greece Owes $1.2 Billion To Drugmakers As Government Can No Longer Afford Basic Medical Supplies
Greece Owes $1.2 Billion To Drugmakers As Government Can No Longer Afford Basic Medical Supplies
Talks between Greece and its creditors went full-retard on Wednesday when the following soundbite from Canada’s FinMin Joe Oliver hit the wires:
“No Greek payment to IMF would be default to IMF”
That seemed self-evident to us, but in a world governed by debt, we suppose everyone occasionally needs to remind themselves that failure to make good on one’s obligations constitutes default.