Legal & General estimates £10mn hit from UK pension fund liquidity crisis

Legal & General has detailed the impact of the pension fund liquidity crisis in September, estimating that its profits would be reduced by £10mn as clients sold higher-fee products to meet collateral calls. Then-chancellor Kwasi Kwarteng’s “mini” Budget had unleashed turmoil in the gilt markets, forcing pension funds to sell assets to meet collateral calls […]

Medical Pot Firms Lead Donors for Legal Weed Campaigns in Conservative States

JEFFERSON CITY, Mo. (AP) – The call went out from leaders in the medical marijuana industry: Money was needed for a Missouri ballot initiative to legalize recreational cannabis for adults. Their colleagues responded. Marijuana farms, manufacturers and retailers provided millions of dollars that footed a petition drive to put the proposal on the November ballot […]