BUSINESS LIVE: Premier Miton weighs R&M tie-up; Pound hits 21-month excessive in opposition to euro; Powell handed second time period as Fed chair
London-listed asset supervisor River & Mercantile has confirmed studies of an strategy from rival agency Premier Miton, which might create a gaggle with near £20billion in belongings underneath administration.
In what could be the most recent instance of consolidation in a sector rife with M&A exercise, R&M revealed this morning that Metropolis veteran Martin Gilbert’s AssetCo has additionally made an strategy.
The pound hit a 21-month excessive in opposition to the euro yesterday as the specter of coronavirus lockdowns on the Continent hit the one foreign money.
Sterling rose as excessive as €1.1929 – a degree not seen since February 2020 and up 12 per cent from the pandemic low of €1.06 in March final yr.
Jerome Powell has been nominated to serve a second time period as chairman of the US Federal Reserve – arguably probably the most highly effective financial job on this planet.
The 68-year-old Republican – who was initially appointed by Donald Trump in 2018 – will proceed as head of the central financial institution after successful the backing of President Joe Biden, who opted for continuity at a fragile time for the US economic system.
The specter of coronavirus lockdowns on the Continent has weakened the one foreign money
BUSINESS LIVE: Premier Miton weighs R&M tie-up Source link BUSINESS LIVE: Premier Miton weighs R&M tie-up