EXCLUSIVE: Brevan Howard, one of the world’s best known hedge fund giants, is cutting more than 100 staff to cut costs. Growth in assets (from $6b in 2019 to $35b now) had led to staff no. swelling to over 1,100 from 150 in 2019 bloomberg.com/news/articles/… via Bloomberg Markets

NEW: Blackrock’s Larry Fink has big plans to get a piece of the riches of Saudi Arabia, which has long been a tough market for outsiders
With Dinesh Nair Silla Brush Matthew Martin
bloomberg.com/news/articles/… via Bloomberg Markets

As Saudi Arabia plows billions into infrastructure and investments, Larry Fink is out to make sure that money management giant BlackRock gets a share bloomberg.com/news/articles/… via Bloomberg Markets Loukia Gyftopoulou Silla Brush Dinesh Nair

Here’s what the Thames Water crisis could mean for customer bills bloom.bg/4d5wKBQ

EXCLUSIVE: Millennium is liquidating wagers made by credit trading specialist Jason Feasey after his bets on telecom network Altice caused losses; with Sridhar Natarajan bloomberg.com/news/articles/… via Bloomberg Markets

NEW: Private investigators are in demand among money managers trying to find out the real value of private market assets as investor faith plummets.
bloomberg.com/news/articles/… via Bloomberg Markets

Harassment and drug use marred Citigroup's equities unit for years, according to interviews with 22 people who worked in or closely with the unit.

This story required months of careful reporting with Max Abelson and Sally Bakewell. Please give it a read.bloomberg.com/news/articles/…

EXCLUSIVE: Hedge fund ExodusPoint stopped Bhavit Sawjani, a marquee hire and Dubai-based portfolio manager who led a six-member team, from trading late last year following losses of more than $70 million. bloomberg.com/news/articles/… via Bloomberg Markets

Calling all budding financial journalists. At Bloomberg News, we're serious about investing in the next generation of talent. We're offering 10-week paid summer internships for 2025 in Frankfurt. Curious? Register for our launch event on April 18
bloomberg.recsolu.com/app/collect/ev…

On Halloween 2018, a London detective investigating a Chinese takeaway worker stumbled on billions of pounds worth of bitcoin in a Hampstead mansion ft.com/content/0bc35b…

My and Eri Sugiura's long read on an extraordinary tale of crime, crypto and a woman in way over her head

New: Asda-owners Mohsin and Zuber Issa have seen the value of their stakes in the grocer and petrol forecourt empire EG Group fall 60%, according to the Bloomberg Billionaires Index.

With Ben Stupples and Giulia Morpurgo

bloomberg.com/news/articles/…

EXC via ⁦Alex Wickham⁩ & me

- Tax cuts in Sept ahead of Oct / Nov election

- Early suggestions include a significant reduction in income tax, slashing stamp duty and council tax cuts that could mean those on the lowest income don’t pay bloomberg.com/news/articles/…

Millennium, one of the world’s biggest hedge funds, made tens of millions of dollars when Egypt allowed its currency to weaken after a successful bet by one of its senior traders. Story w/Srini Sivabalan via Bloomberg

bloomberg.com/news/articles/…

Did you follow the Sequoia brouhaha at Klarna?

Turns out, it was tip of iceberg for *much bigger* drama btwn the startup's cofounders. New story with new deets w/ Aisha S Gani bloomberg.com/news/articles/…

NEW: Some of Europe's largest real estate firms started to unravel in the last year, but many of the industry's key questions about governance and related party deals started with one firm.
Story here with the great Jack Sidders
bloomberg.com/news/articles/… via Bloomberg

A big-money helicopter deal is just the latest crisis to hit Monaco, one of the tiniest, wealthiest and most unusual countries on the planet bloomberg.com/news/features/… via Businessweek Gaspard Sebag Anthony Cormier

“If someone is paying us to deliver, we will deliver.”

So much great detail in this piece on the one-time Hollywood financier, and confidant to the former King of Spain, who is now navigating Arctic ice and sanctions to help keep Russia’s LNG hopes alive 👇🏻

🎲Come play the Bloomberg Budget game 🎲
An election is looming and the prime minister wants you to deliver tax cuts to win over voters. But can you avoid crashing the markets? Free to play, no paywall 1/
bloomberg.com/features/2024-…

Private Credit’s Code of Silence Hides Flaws in a Booming Market

bloomberg.com/news/articles/…

With Laura Benitez, John Sage, Kat Hidalgo and Ellen Rose Schneider, brilliantly edited by James Boxell.

Latest on B. Riley, troubled LA investment bank. Brian Kahn, one of its top clients who's alleged to have illicitly brought down a hedge fund, is accused of defaulting on parts of a settlement meant to help repay investors who lost hundreds of millions.

bloomberg.com/news/articles/…