Rollercoaster markets may have cooled investor appetites for shares or property, but interest in offbeat investments is booming as a growing number of art and wine funds compete to combine passion with high returns. Downturns typically mean a slowdown in investments, but industry watchers say the credit crunch has left the appeal of ''investments of passion'' largely untarnished.
The United States and other countries must not demonise sovereign wealth funds as they come to the aid of troubled United States banks, some of the world's biggest state-run investors said on Thursday. A top US official denied the United States feared government-run investment funds, many of them based in Asia, the Gulf and Russia.
A trio of banks led by the Royal Bank of Scotland (RBS) has proposed a €72-billion (-billion) bid for ABN Amro, threatening to thwart an agreed takeover of the Dutch bank by Britain's Barclays. The RBS group, which also includes Spain's Santander and Dutch-Belgian bank Fortis, said on Wednesday it planned to offer €39 a share for ABN Amro.