Blackstone joins forces with big asset managers to expand into individuals’ portfolios

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Blackstone is joining forces with asset management companies Vanguard and Wellington Management in a “strategic alliance” aimed at creating hybrid public and private funds for wealthy individuals and retirees. The three groups said on Tuesday … Read more

The UK government needs a proper plan for steel

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. The UK government has engaged in a dramatic rescue of British Steel, operator of the country’s last two blast furnaces at Scunthorpe in Lincolnshire. After recalling parliament from recess to pass emergency legislation, ministers have … Read more

Off-the-run credit liquidity is the worst since March 2020

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Here are some interesting lines from Apollo’s chartmeister Torsten Sløk, showing the spread between the bids and the asks for off-the-run and more liquid investment-grade corporate bonds (high-res link): We knew that credit markets were … Read more

Canadian oil producers see opportunity in Donald Trump’s trade war

This article is an on-site version of our Energy Source newsletter. Premium subscribers can sign up here to get the newsletter delivered every Tuesday and Thursday. Standard subscribers can upgrade to Premium here, or explore all FT newsletters Welcome to Energy Source, coming to you from London where the International Energy Agency has just cut its expectations … Read more