The $275mn question from Guggenheim’s auditor
KPMG warned the asset manager about weak controls within its business last year
Economic news
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A UK bank windfall tax would be a terrible idea
Further penalty would hit one of the key engines of growth in the economy
Why the US and Iran keep escalating
As Trump hardens his stance over negotiations, Tehran remains determined to keep the Strait of Hormuz closed
Manager of Norway’s $2tn oil fund proposes slashing US Treasury holdings
Overhaul of bond positions suggested to Ministry of Finance aims to boost returns
Foreign investors shun Australia after property developer collapses
Bathla’s administration and possible liquidation spooks Asian funds and private credit markets
Indian diaspora comes through with dollars
Also in this newsletter: another education technology dropout