Money manager Tim McCarthy has worked in the U.S., Russia and Switzerland, and has seen doctors in all three countries for Hashimoto disease, a condition in which his immune system attacks his thyroid. He has no doubt which health system is best.
OAO Surgutneftegas, Russia’s third- largest oil producer with a $31 billion market value, for years has refused to disclose its cash position under international reporting standards or whether it holds its own shares.
Sumitomo Trust & Banking Co. ’s Nikko Asset Management Co. unit agreed to buy DBS Asset Management from DBS Group Holdings Ltd. for S$137 million ($105 million) to tap business from the expanding ranks of wealthy Asians.
European money managers including Valartis Asset Management and LGT Capital Management said they dropped Russian brokerages including Alfa Bank and Renaissance Capital as counterparties, citing the increased risk of doing business with non-state companies operating in Cyprus.
OAO Sberbank, Russia’s largest lender, has narrowed the price range for its $5 billion share sale to between 92 rubles and 94 rubles apiece, according to price guidance sent to investors and obtained by Bloomberg News.