Margrethe Vestager, the European Union’s digital and competition chief, has joined the race to head the European Investment Bank (EIB), multiple media reports have indicated. The bank’s current president, Werner Hoyer, is set to step down at the end of the year after serving two terms and, as Politico noted, the mooted move would make…
The Investment Management Corporation of Ontario (IMCO) is to allocate $400m (€365m) into Swedish company Northvolt. The Canadian firm, which manages $79bn of assets for public-sector entities and other clients, said the funding would enable the battery maker’s planned expansion. It referred to Northvolt’s first gigafactory in northern Sweden, which produces batteries using fossil-fuel electricity.…
Individual investors in Germany have identified inflation as their biggest concern, according to a report from Natixis Asset Managers. Almost three-quarters (71%) of respondents in Germany told the Natixis Global Survey of Individual Investors that inflation was their biggest fear – compared with 58% of respondents globally. This comes at a time when inflation in…
France has retained top spot as Europe’s top destination for foreign direct investment (FDI), despite a 7% fall in European projects since the pandemic, according to Ernst & Young (EY). The management consultant’s report, Navigating Through Turbulence, stated there were 1,259 projects in France in 2022, making it the biggest recipient of projects in Europe…
Private equity investors are anticipating a good year for the sector in Europe in 2023, followed by a stronger year still in 2024. Half (51%) of the respondents to Coller Capital’s latest Global Private Equity Barometer indicated they expected a stronger outcome for European private equity in 2023, rising to 71% for 2024. This was…
The European Commission (EC) has set out a new package of measures around the EU sustainable finance framework. The Commission said the package was part of an effort to ensure the framework continued to support companies and the financial sector, while encouraging private funding. Among its auspices were a new set of EU Taxonomy criteria…
Investors have been left with a difficult judgement to make on the near-term direction of markets after the Federal Reserve held US rates flat at 5 – 5.25% last night. The most notable aspect of the Fed meeting was not the holding of rates, which was widely expected, but the hawkish commentary that accompanied it.…
BlackRock and Mediolanum International Funds (MIFL) have both launched sustainable-oriented funds this week. BlackRock has launched its Global Funds Brown to Green Materials portfolio, which will invest at least 80% of its total assets in the equity securities of companies globally that directly contribute to the transitioning materials theme. Olivia Markham, a portfolio manager at…
There has been a visible slowdown in investment into the tech space across Europe, according to a report from European Venture Capital firm Atomico. The report, State of European Tech: First Look 2023, indicates the amount of capital invested into Europe fell by 52% between 2021 and 2023. In comparison, China, the US and the…
The European Fund and Asset Management Association (EFAMA) has come out swinging at the European Union’s Retail Investment Strategy (RIS). A statement from EFAMA – produced in conjunction with trade bodies the Association of Mutual Insurers and Insurance Cooperatives in Europe, the European Association of Co-Operative Banks, the European Association of Public Banks, the European…
The European Commission (EC) launched its first investor survey this week to gauge opinion on its borrowing activities and status as an issuer. The survey, which can be seen here, has been put together by the EU with the assistance of BofA Securities, Credit Agricole CIB, and HSBC. The EC noted: “The survey – which…
German economy contracted 0.5% in Q4 2022
