Antin Infrastructure Partners is seeking about 5 billion euros ($5.84 billion) for its fourth fund, according to people familiar with the matter.

The infrastructure investor, which has offices in Paris, London and Luxembourg, may use the fund to seek more deals in North America, said the people, who asked not to be identified because the details are private. The pool is expected to follow the same rules as Antin’s previous funds, capping investments in the U.S. at 20 percent of total capital…

UBS Group AG’s newly combined wealth-management business and investment bank are helping Chief Executive Officer Sergio Ermotti boost growth after investors questioned the lender’s commitment to higher returns.

The private banking unit — which counts many of the world’s billionaires among its clients — took in more fees and interest income in the second quarter while bringing down costs, even as UBS unexpectedly saw money leave the firm. At the investment bank, surging equities and foreign-exchange trading helped the unit led by Andrea Orcel beat estimates…

In the staid and buttoned-up world of insurance underwriting, few want to talk about it. You won’t find many ads promoting it or details on company websites offering it.

But according to industry insiders, there’s a hot new business that more and more firms are looking to get into: crypto insurance…

Stolen Crypto Millions Paid Back for Cents on Dollar, Guaranteed

It’s a good time for founders in China to take their startups public, at least by one measure.

Chief executive officers are beginning to get ten-figure bonuses with their initial public offerings. In the latest example, the CEO of Shanghai-based Pinduoduo Inc., received at least $1 billion of stock without any performance hurdles as his e-commerce company prepares for a U.S. IPO. Lei Jun, the head of Beijing-based smartphone maker Xiaomi Corp. saw a $1.5 billion payday, with no strings attached, when his company went public in July. When JD.com Inc. went public in 2014, it incurred $591 million of costs from a stock grant to its chief…

Toronto-Dominion Bank, building on its deal for money manager Greystone Capital Management Inc. earlier this month, plans to hire 200 advisers in Canada this year to boost profit at its wealth-management division as much as 10 percent.

The additions are part of Toronto-Dominion’s push to expand in a division that includes online investing, advice and asset management to take advantage of what wealth-management head Leo Salom says are attractive demographics in North America…

The Bank of England is about to try to put a number on normality.

After months of research, the central bank will provide an estimate of the Goldilocks interest rate for the first time when it announces its policy decision on Aug. 2. Known as r* (r-star), it’s the rate that keeps the economy neither too hot nor too cool over the long term…

Bank of England to Estimate Interest Rate That’s Just Right

UBS Group AG has no plans to follow other banks and raise the $2 million threshold for access to its private banking services, the Swiss bank’s China head of global wealth management said.

“This is not under discussion,” said Marina Lui in an interview in Hong Kong, asked about moves by other banks to raise the minimums required from private clients. “We don’t want to limit ourselves, a $2 million dollar client can become a $2 billion dollar client overnight.”…

Asian stocks climbed Tuesday, after their U.S. counterparts closed higher and as rising yields boosted financials. Ten-year Treasury yields held around the highest level in more than a month.

Equity benchmarks in Tokyo, Seoul and Sydney opened higher, while futures on Hong Kong’s Hang Seng showed a modest gain. Treasuries held losses from the past two days, with the declines coinciding with speculation that the Bank of Japan may consider fine-tuning its stimulus programs — a reminder that the direction of major central banks is toward taking back quantitative easing. Higher longer-dated bond yields in turn has boosted bank and insurance shares. Elsewhere, crude oil held below $68 a barrel in New York.

Peter Lambertus is used to keeping a low-profile.

A former officer in the U.S. Navy’s nuclear submarine force, he founded investment data and analytics software provider Charles River Systems Inc. in 1984. Even as his company’s platform has grown to the point where its users manage more than $25 trillion, he’s largely kept off the radar…

Ex-Submariner Surfaces as Billionaire on Charles River Takeover

Cerberus Capital Management LP has pulled out of the bidding process for Abraaj Group’s asset-management platform after its offer was rejected by investors of the embattled Dubai-based private equity firm, according to people familiar with the matter.

Cerberus, whose offer of about $25 million for the rights to manage the platform was the lowest among several bidders, walked away from the process on Friday, the people said, asking not to be identified as the matter is private…

The wealth management unit of Nordea Bank AB will struggle to reach a target of generating as much as 5 percent in net new money this year after a tough first half, according to its head, Snorre Storset.

“We have a long-term target of net flows with 4-5 percent growth from the start of the year,” Storset said in an interview in Oslo on Thursday. “It’s obvious this year that it will be difficult to reach that goal due to a good deal of outflows in the first half. But underlying, we have the same potential. So long-term, 4-5 percent is still realistic.”…

A giant refrigerator will replace the village Jonas Alide Saide has called home for 70 years and he’s not happy about it.

As Mozambique’s plans to export natural gas gather pace, Saide’s northeastern settlement of Quitupo will make way for a plant planned by companies including Anadarko Petroleum Corp. Located on a site larger than Manhattan, the facility will extract and liquefy the offshore gas and generate most of the $49 billion the government expects from sales of the fuel over the next three decades…

A pair of startups in Los Angeles developing hyperloop transportation projects said Thursday that each had lined up financing commitments from Chinese state-backed companies.

Arrivo, founded by a former senior engineer at Elon Musk’s Space Exploration Technologies Corp., said it secured a $1 billion credit line with Genertec America Inc., a subsidiary of a Chinese state-owned entity based in Beijing that has helped finance and build high-speed rail and other infrastructure projects in Iran, Turkey and elsewhere. The credit line will go to backers of a future project using Arrivo technology, not to the startup itself…

U.S. prosecutors negotiating a possible deal with a former Goldman Sachs Group Inc. executive are pressing for information about whether the bank turned a blind eye to the plunder of a Malaysian investment fund, according to a person familiar with the matter.

If they reach a plea agreement with Tim Leissner, the Goldman banker who arranged the fund’s bond offerings, he would become a key witness against his superiors at the bank, said the person, who asked not to be identified because the matter isn’t public…

China this month recorded one of its biggest corporate-debt defaults yet, with the downfall of a coal miner that had ridden the country’s wave of credit until policy makers changed the game with their deleveraging campaign.

The New Development Bank plans to lend as much as $600 million more in South Africa this year in an effort to level the playing field among its five member states.

The lender, backed by Brazil, Russia, India, China and South Africa, started operations in 2015 to support infrastructure projects and sustainable development initiatives in emerging economies. Leaders of the informal BRICS club of nations will be gathering in Johannesburg next week for its 10th summit…

BRICS Bank to Boost S. African Loans by as Much as $600 Million

Sydney’s property market slump will last at least another two years as tougher lending standards and buyer nerves weigh on prices.

That’s the consensus from a Bloomberg survey of 15 economists, over a third of which have turned more pessimistic within the last three months…

Sydney Housing Slump Predicted to Last Until at Least 2020

Whoever wins Pakistan’s election next week, gains in the rupee, stocks and bonds are likely to be short-lived as the new government grapples with a mounting set of economic challenges.

Investors including Standard Life Investment Ltd. and Frontier Investment Management Partners Ltd. say a victory for former cricket star Imran Khan’s Pakistan Tehreek-e-Insaf or Movement for Justice, would create uncertainty but could lead to progress on tackling corruption over the longer term. A win for the business-friendly Pakistan Muslim League-Nawaz would probably be better for the market, according to Terra Nova Capital Advisors Ltd…

Warren Buffett just can’t stop making money, even in a week where he gave $3.4 billion to charity.

The Berkshire Hathaway Inc. chairman added $4 billion to his fortune Wednesday after the conglomerate removed a cap on stock buybacks. The shares rose 5.1 percent, the most in almost seven years, lifting his fortune to $83.1 billion. His wealth dropped below $80 billion on Tuesday, after announcing the latest gift…

Buffett Gets Richer Even After Donating $3.4 Billion to Charity

There’s no chance China will cut its trade surplus with the U.S. in response to President Donald Trump’s tariff threats. For starters, Washington has made no specific demand to which Beijing can respond. But its efforts may have an unexpected side effect: a debt crisis in China.

The 25 percent additional tariffs on exports of machinery and electronics looked, at first blush, like a stealth tax on offshoring. The focus on categories like semiconductors and nuclear components, in which U.S.-owned manufacturers in China are strong, recalled Trump’s 2016 promise to tax “any business that leaves our country.”…

Billionaire Anastasia Soare is used to raising eyebrows in the world of beauty. Now she’s getting ready to test demand for her rapidly growing cosmetics company in the trillion dollar leveraged-loan market.

Anastasia Beverly Hills is seeking a $650 million loan to help fund a partial buyout by TPG Capital, according to a person with knowledge of the plan. The private equity firm agreed to buy a minority stake in Soare’s company last month in a deal that valued it at about $2.5 billion…

Lineage Logistics LLC, which calls itself the fastest-growing provider of temperature-controlled services such as transportation and storage, sold a minority stake worth $700 million, according to its chief executive officer and co-founder.

Lineage and some of its early investors sold the interest to funds managed by infrastructure-focused Stonepeak Partners LP; D1 Capital Partners, run by Daniel Sundheim, the former chief investment officer of Viking Global Investors; and some existing backers, Lineage CEO Greg Lehmkuhl and co-founder Kevin Marchetti said in an interview…

Lloyd Blankfein could get as much as $84.7 million in compensation when he departs Goldman Sachs Group Inc. in October after 36 years at the investment bank.

Blankfein, 63, who’s been chief executive officer since 2006, will receive the bulk of that pay in performance-based shares and cash awards that were to be earned through 2024. It’s unclear if these awards will be accelerated, prorated or forfeited when he leaves because Goldman Sachs doesn’t have employment agreements that guarantee severance payments, according to its 2016 proxy…

Lloyd Blankfein Poised for $85 Million Payout When He Leaves Goldman

Republican lawmakers and the Treasury Department are struggling to reach agreement on legislation to bolster national security reviews of foreign investments, which could upend President Donald Trump’s less confrontational approach toward Chinese firms taking stakes in U.S. companies, according to two people familiar with the matter.

A big change is afoot inside Goldman Sachs — aside from the disc jockey slated to become CEO.

The company just set aside an unusually small portion of revenue to reward traders and bankers. The move is reflected in the firm’s compensation ratio, which took a surprising dive to 39 percent in this year’s first half, the lowest level of the past decade. Chief Financial Officer Marty Chavez attributed the drop to the firm’s emphasis on profitability. With revenue up significantly this year and the bank paying a lower tax rate, the rank and file can’t be faulted for hoping some of the spoils would come their way…

Temasek Holdings Pte. is developing an American accent.

The Singaporean state investor, whose S$308 billion portfolio ($226 billion) includes stakes in companies such as Alibaba Group Holding Ltd., is still betting on the U.S., even as it grows more circumspect in deploying capital amid trade tensions and an increased likelihood of a global economic slowdown…

Temasek Expands U.S. Footprint With a Wary Eye on Trade Tensions

A London court ordered two companies owned by Wale Tinubu, the chief executive of Nigerian energy company Oando Plc, and his deputy, Mofe Boyo, to pay $680 million to Ansbury Investment Inc. following a dispute over shareholding and financial management.

The London Court of International Arbitration ruled that Ocean and Oil Development Partners, a company incorporated in the British Virgin Islands, which owns 55.96% of Oando through a holding company, is indebted to Ansbury to the tune of $600 million, Ansbury spokesman Bolaji Akinola said…

China’s savers are rushing to pull money from peer-to-peer lending platforms, accelerating a contraction of the $195 billion industry and testing the government’s ability to maintain calm as it cracks down on risky shadow-banking activities.

Warren Buffett contributed $3.4 billion to five charities as the investor continues making good on a pledge to give away all of his Berkshire Hathaway Inc. shares.

Buffett, 87, has donated a total of about $31 billion to the foundations, according to a statement Monday from Berkshire, where he is chief executive officer and chairman. The latest gift, comprised of about 17.7 million Class B shares, went to charities including the Bill and Melinda Gates Foundation, one named after his first wife who died in 2004, and each of his children’s foundations…

Silicon Valley startup Juul Labs Inc. will begin selling its e-cigarettes in the U.K. this week seeking to replicate its runaway U.S. success — though with a smaller nicotine hit.

A Juul starter kit — including the device, a battery charger and four liquid pods — will be available to buy online and in 250 vape stores in the U.K. this week. The company is funding international expansion with a capital increase that’s expected to reach $1.2 billion, which would value the startup at $15 billion…

Mega donors began flooding political committees with six and seven-figure contributions in recent months as the fight for control of Congress and the future of President Donald Trump’s agenda intensified ahead of November’s election.

Billionaire inventor Elon Musk was among those putting money into the 2018 campaign, sending $38,900 to a committee backing U.S. House Republicans. Others from Wall Street to Hollywood dug deeper, according to second-quarter Federal Election Commission filings that were due late Sunday…

China’s home prices rose at the fastest pace in 21 months in June even as the government stepped up a campaign against property speculation.

New-home prices in 70 cities tracked by the government gained 1.1 percent from the previous month, according to Bloomberg calculations based on data from the National Bureau of Statistics released Tuesday. That compared with a 0.8 percent increase in May. It was the fourth straight monthly acceleration…

Airbus SE is close to an agreement to sell wide-body jetliners valued at about $6 billion at list prices to Taiwanese startup StarLux Airlines, according to a person familiar with the matter.

The talks cover 12 A350-1000 aircraft and five of the smaller A350-900s, said the person, who asked not to be named discussing a confidential negotiation. A final deal hasn’t been reached and a deal could still fall through, the person said.

Airbus SE is closing in on $29 billion of deals with Asian carriers that are expanding their fleet because of surging travel demand in the region, according to people familiar with the matter.

The European manufacturer is working on a blockbuster agreement to sell $23 billion worth of aircraft to AirAsia Group Bhd., the continent’s biggest budget carrier, said the people, who asked not to be identified discussing private talks. Airbus is separately nearing an accord to sell wide-body jetliners valued at about $6 billion to Taiwanese startup StarLux Airlines, said a person familiar with the matter. The deals are based on list prices and discounts are customary for bulk orders…

China’s sovereign wealth fund has expressed a desire to invest in the domestic market as stock valuations have hit multiyear lows, underscoring how coming home may bring it new opportunities to boost returns.

The $941 billion China Investment Corp. wants permission to invest in local shares and bonds, and has laid the groundwork for an application to the central government, people with knowledge of the matter said. While it remains unclear if top leaders will grant approval, the potential move by the Beijing-based investor would add an engine of growth to complement an overseas portfolio that posted record returns last year…

Indian states raked up debt to fund widening deficits after the global financial crisis. They may now have to borrow more to meet repayment commitments, a report from the central bank showed.

Redemption pressure on states, which normally issue plain vanilla bonds with 10-year maturity, increased from the year ended March 2018, according to the Reserve Bank of India’s Study of State Finances. That implies that their borrowings are expected to soar…

Ghosts of Loans Past Coming Back to Haunt India’s States

Asian stocks fell as mixed economic data in China failed to allay concern about the world’s second largest economy’s ability to the withstand the impact of the trade dispute. Crude slid and the yen traded near the weakest level since January.

A big initial public offering and strong signs of growth in the financial technology industry are giving startups in the sector a funding boost.

Venture backed U.S. fintech companies received about 40 percent more funding in the second quarter of this year than the previous one, according to a report released Wednesday by CB Insights and PwC. The total deal value for the quarter was about $3 billion…

Funding for U.S. Fintech Startups Rose 40 Percent Last Quarter