The net proportion of global asset managers underweighting US equities has hit 19%, its highest level since the start of 2008, according to the latest monthly survey of 168 portfolio investors carried out by Bank of America Merrill Lynch.

BAML survey finds global asset managers underweighting US equities

Financial News

BlackRock’s Larry Fink on US tariffs: ‘This isn’t Wall Street versus Main Street’

BlackRock assets hit new high despite ‘uncertainty and anxiety’ over markets

Newton Investment Management lags UK peers on gender pay gap

Trading Places: Barclays hires new M&A boss, Julius Baer restructures again

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Find out who is on the move in the City and beyond this week

HSBC hands Blackburn top risk role as shake-up continues

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The UK lender has given the leading compliance job to a 20-year veteran

Barclays hires Centerview dealmaker Woeber to lead global M&A

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The UK lender has tapped a veteran dealmaker to head up a key area of growth

Wells Fargo booked a bigger profit in the first quarter, as lower expenses helped offset a decline in net interest income.

Wells Fargo Profit Rises, Boosted by Lower Expenses

The administration secured commitments for at least $600 million in pro bono work from five firms including Latham & Watkins, Kirkland and Cadwalader.

By Emily Glazer, Josh Dawsey and C. Ryan Barber

White House Announces Batch of New Deals With Elite Law Firms

Treasury Secretary Scott Bessent helped persuade the president to take some time and negotiate with trading partners in the face of pressure from business leaders.

By Annie Linskey, Josh Dawsey and Meridith McGraw

Why Trump Blinked on Tariffs Just Hours After They Went Into Effect

Generative AI is going to reinvent virtually every customer experience and enable entirely new ones that have only been dreamed about, Amazon.com Chief Executive Andy Jassy said.

Amazon CEO Says Generative AI Will Reinvent Every Customer Experience

Carney said the 90-day pause, and Trump’s pledge to negotiate new trading arrangements with dozens of countries, “will likely result in a fundamental restructuring of the global trading system.”

Trump’s Tariff Pause ‘Welcome Reprieve’ For Global Economy, Canada PM Carney Says

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