How Elliott is becoming the hedge fund industry’s new ‘Tiger cub’ factory

The vaunted investor Paul Singer has spawned a small army of new firms mirroring Julian Robertson’s ‘Tiger cubs’

How the great wealth transfer is rattling Wall Street

Tens of trillions of dollars are moving between generations — and younger heirs feel little loyalty to traditional advisers

Private equity fund investors turn to debt-like deals in downturn

Backers of buyout funds agreed $9bn worth of ‘alternative’ transactions last year, up from $6bn in 2024

It’s not just the super-wealthy using Lombard loans to buy property

Asset-backed lending is increasingly being deployed to stretch budgets and jump queues

The young Chinese choosing life in ‘ghost cities’

Urban castaways are making homes in half-empty towers left over from the world’s biggest housing boom

Yen weakens to 40-year low

Japanese currency slides past ¥162 as Federal Reserve’s hawkish shift piles on pressure

Supermicro Taiwan offices raided in chip smuggling probe

Server maker’s shares fell about 8% after news of the investigation

Burnham’s radical localism alone won’t fix the UK economy

His speech hits the right political notes but fails to offer a clear roadmap for growth

US Supreme Court blocks Donald Trump from sacking Fed governor Lisa Cook

Justices say president can fire top regulator in separate decision

Atom Bank sale on cusp of collapse

Shareholders targeted £600mn valuation but process has failed to attract bids at desired price

Comcast is splitting in two

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British American Tobacco slashes 9,000 jobs

Maker of Dunhill cigarettes says cuts and outsourcing will affect about one in five jobs