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Funds

Infrastructure funds prepare sales of airports in UK and Italy-sources

A aircraft taxis past the control tower at Edinburgh Airport in Scotland April 23, 2012. REUTERS/David Moir/File Photo Acquire Licensing RightsLONDON, Dec 1 (Reuters) - A group of infrastructure investors around Europe are working on the sale of their stakes in European airports, leveraging on the recovery of travel in the wake of the COVID-19 pandemic, according to bankers, investors and industry sources.Among the largest of the airports that may see a change of ownership as soon as 2024 is Edinburgh, five of the sources said.Its owner Global Infrastructure Partners...
Banking

Market pushback on central banks’ rates view just got louder

Markets now price hefty ECB, Fed rate cuts in 2024Nov euro zone inflation eases more than expectedGap with central bank messaging widens furtherLONDON, Nov 30 (Reuters) - A big disconnect between financial markets and central banks has just got deeper, with traders ramping up their bets on interest rate cuts in the United States and Europe as evidence grows that inflationary pressures are fast abating.Money markets are now pricing in over 100 basis points apiece of rate cuts from the U.S. Federal Reserve and European Central Bank next year, and...
Banking

Europe’s Signa toppled in property rout

VIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe's property crash.Controlled by Austrian magnate Rene Benko, the group is an owner of New York's Chrysler Building as well as several high-profile projects and department stores across Germany, Austria and Switzerland.The multi-billion-euro group, whose tentacles reach from Germany's best-known department store, Berlin's KaDeWe, to the country's top high-street chain Galeria and a skyscraper project, is set to send ripples...
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