FRM, a fund of hedge funds manager with $13bn (€11bn) under management, believes its strategic link with Sumitomo Trust and Banking could provide a template for its further growth.

The Japanese bank has taken a 2.5% stake in FRM for an undisclosed sum and has the option to increase it to 10%.

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One of the top investors in Adani Group launched an on-market share buyback to protect its share price against the contagion from a U.S. investigation into the Indian conglomerate.

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The president-elect floated the idea during a Wednesday meeting with the former Fed governor.

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The U.S. auditing watchdog voted to require certain audit firms to disclose eight new metrics ranging from auditor turnover to partner involvement and restatement history.

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The AI titan will maintain its strong lead, but complicated product rollouts, sky-high expectations and the China threat add complications to growth potential.

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Research group GfK’s measure of consumer confidence climbed to minus 18 in November’s survey from minus 21 in October.

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Sumitomo takes stake in $13bn fund

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