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Investment

The investment arm of family-controlled LVMH and Groupe Arnault has purchased a stake in Trendy International Group, as it looks to increase its exposure to China.

The investment arm of family-controlled LVMH and Groupe Arnault has purchased a stake in Trendy International Group, as it looks to increase its exposure to China. 

Seven years have now passed since the credit boom started in 2005, which initially led to a fight for market share between the banks and, ultimately, a battle for their survival. Europe is, once again, in trouble. And Frederick the Great's covered bonds are the must-have fashion item among lenders desperate to preserve their capital.

Nearly 250 years ago, in 1763, Europe’s great powers were in deep financial trouble, after fighting themselves to a standstill in the Seven Years’ War. Louis XV’s France, very much on the losing side, was set on a trajectory which led to financial crisis and revolution. Prussia’s Frederick the Great, with Britain, won the war. But that did not stop Federick worrying about the mountain of debt he had run up.

Giving ultra-high net worth families and individuals in the UK more time to come clean about their assets in Liechtenstein is an “important development”, according to a top legal expert.

Giving ultra-high net worth families and individuals in the UK more time to come clean about their assets in Liechtenstein is an “important development”, according to a top legal expert.

What was going on nearly 10 years ago represented the first indication that the health of Swiss private banking was beginning to suffer. The boom in between only covered up the widening fault lines.

Back in the early noughties, two originally family-owned Swiss banks called Vontobel and Bank Sarasin sought outside shareholders to bolster their ailing balance sheets. Both banks had been hurt by the bursting of the tech bubble and needed new investors to get them through a tough period.

Every bonus season erodes confidence that capitalism is capable of distributing rewards in an acceptable way, and yet nobody will give up their bonuses.

Ever since people started attacking bankers and others for the large amounts of money that they earn, their defenders have come out with a peculiar argument – that the reason people dislike bankers is because those critics envy their riches. That’s not true.