Former City Correspondent

Merrill Lynch Investment Managers (MLIM) and Henderson Global Investors stand to lose out following the Fife pension fund's decision to invest nearly a quarter of its assets in global equities.

The Fife Council is inviting firms to pitch for the mandate to manage a £150m (€234m) global equity portfolio for its pension scheme.

Fife joins UK regional funds' march into global equities

Ben Wright

Artificial intelligence and private equity are threatening to transform consulting

Why UBS needs to beat Barclays to become a top investment bank

BlackRock’s drive into private assets should worry smaller rivals — again

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

Barclays poaches Citi managing director for wealth private credit push

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Dale Walsh will accelerate growth of the private bank and wealth management’s lending business

Northern Trust taps UN pension fund for head of international role

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Pedro Guazo, who joins in August, will also oversee the $1.3tn asset manager’s responsible investment platform globally

David Frame is named global head of the private bank, helping deep-pocketed clients invest more abroad.

JPMorgan Is Revamping Its Bank for the Superrich to Cater to Global Clientele

Keir Starmer initially refused to confirm if Rachel Reeves would remain in post, causing sterling and gilts to sell off sharply.

U.K. Government Bonds, Pound Recover After Prime Minister Backs Treasury Chief

The president exhorted Republicans to get behind the legislation after efforts to pass it hit resistance. House Minority Leader Hakeem Jeffries decried the package in a record-long floor speech.

By Richard Rubin, Olivia Beavers and Lindsay Wise

House Passes Trump’s Megabill in GOP Triumph

The deal with Vietnam seeks to stop Chinese-made goods from transiting through the Southeast Asian country to avoid higher duties.

Vietnam Trade Deal Takes Aim at Back Door for Chinese Goods

Hot weather and lax dress codes have us baring more at work.

By Callum Borchers | Photographs by Lucia Buricelli for WSJ 

It’s the Summer of Too Much Skin at the Office

Ford chief predicts AI will replace “literally half of all white-collar workers.”

CEOs Start Saying the Quiet Part Out Loud: AI Will Wipe Out Jobs

The precision-measurement company has withdrawn its recommendation for its previously agreed takeover offer from Advent International.

Spectris Agrees to $5.64 Billion KKR Takeover

Spectris Agrees to $5.64 Billion KKR Takeover; Withdraws Advent Recommendation

The dollar lost momentum ahead of an expected decline in U.S. job creation, as investors expect the Fed to start cutting interest rates in coming months.

Dollar Trims Gains as Investors Brace for Cooling Jobs Market

The tech giant has been ramping up efforts to boost business growth in a bid to defend its place in China’s tech and commerce industries, as well as grow abroad.

Alibaba Readies $7 Billion Boost for Commerce Unit, Plans New Data Centers

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