Latest news with #BBH
Express Tribune
3 days ago
- Health
- Express Tribune
BBH faces governance, financial collapse
Several dengue patients are isolated in mosquito nets at the Benazir Bhutto Hospital, Rawalpindi. PHOTO: ONLINE The Special Monitoring Unit's inspection report has revealed serious mismanagement, financial irregularities, patient exploitation, and a systemic breakdown of governance at Benazir Bhutto Hospital (BBH), Rawalpindi. The findings have been submitted to the Punjab Chief Minister, accompanied by recommendations for urgent reforms. The report describes the state of healthcare delivery and basic facilities at the hospital as "extremely poor". Inspectors found that the majority of doctors and paramedical staff were absent, while ICU patients were left lying on bloodstained beds without the supervision of either doctors or nurses. Despite overwhelming crowds in the Emergency and Outpatient Departments, only two service counters were operational. It was further revealed that 80% of prescribed medicines were unavailable, compelling patients to purchase them from outside. Government-supplied drugs were missing from the pharmacy, while cartons of expired medicines were discovered on-site. Members of staff were found soliciting bribes from patients, including at token counters where payments were demanded in exchange for services. In one case, a patient was asked to pay Rs90,000 to avoid queues and obtain surgery. The inspection team also observed doctors and nurses distracted by mobile phones during duty hours, while pharmaceutical companies appeared to wield undue influence. Promotional brochures and calendars of pharmaceutical firms were found displayed in the office of the Medical Superintendent (MS). Sanitation across the hospital was described as "paralysed". Toilets were declared unusable, water filtration plants were out of order, and drinking water supplies were unsafe. Additional complaints were received about exposed electrical wiring and leaking ceilings in the OPD building. The hospital is burdened with liabilities totalling Rs440 million, while CCTV cameras were disabled and no biometric attendance system was in place. Nor was there a designated waiting area for patients and their families. Conditions at the hospital canteen were also found to be deplorable, with unhygienic food, inflated prices, and piles of waste. Parking contractors were reportedly charging Rs50 per vehicle, despite the official rate being Rs30. The Special Monitoring Unit, attaching all evidence, has submitted the report to the chief minister with a call for immediate remedial action. The monitoring exercise identified critical shortcomings in the provision of medicines, parking, sanitation, food services, washrooms, water filtration, and surgical procedures, and urged comprehensive reforms without delay.
Yahoo
10-07-2025
- Business
- Yahoo
Stocks mixed as Trump tariff tensions continue
Stock prices in London closed mostly lower, after Wednesday saw investors taking stock of US President Donald Trump's latest tariff-related moves ahead of Federal Reserve meeting minutes due at 7pm UK time. Earlier in the week, Mr Trump announced a new August 1 deadline for negotiations on tariffs, insisted that 'No extensions will be granted', and sent new rates to various trading partners. He also said he plans to impose a 50% tariff on copper, floated the possibility of a 'very, very high rate, like 200%' levy on pharmaceuticals, and ordered probes into imports of lumber, semiconductors and critical minerals. Commerce secretary Howard Lutnick told CNBC that studies on pharmaceuticals and semiconductors would be completed by the end of the month, and that the new copper rate is likely to be implemented at the end of July or on August 1. 'We would only note that (August 1) is the third deadline so far,' BBH analysts said. 'We've enjoyed a 90-day period of relative quiet on the tariff front, punctuated every now and then by a flare-up but quiet enough for markets to once again get complacent about the stagflation risks… Tariffs of this magnitude, if implemented, could finally bring about the macro shock that markets have been waiting for.' AJ Bell's Dan Coatsworth, meanwhile, said: 'The drip-drip of tariff information threatens to increase investor frustration as many people would rather get all the bad news out of the way in one go, so they can get a clearer idea of the lay of the land… The pressure is now on for drug companies to expand US production facilities so they are effectively on the doorstep of American customers.' The FTSE 100 index closed up 12.84 points, 0.2%, at 8,867.02. The FTSE 250 ended down 13.82 points, 0.1%, at 21,567.86, and the AIM All-Share closed down 5.07 points, 0.6%, at 770.43. In large-caps, BP was up 0.2%. The London-based oil major has agreed to sell its Netherlands mobility and convenience and BP pulse businesses to energy company Catom BV, which is based in Breda in the Netherlands. The transaction includes around 300 Dutch retail sites, 15 electric vehicle charging hubs and the associated fleet business. BP did not disclose financial details, but said the transaction contributes to its 20 billion dollar divestment programme and reset strategy to focus the downstream business. FTSE 100-listed housebuilders Persimmon and Barratt Redrow both gained 1.2%. Along with five other housebuilders, they have agreed to pay £100 million aggregate for affordable housing programmes in the UK, following a probe into price collusion, the Competition and Markets Authority said. 'It was probably the quickest decision ever made in the boardroom as the last thing housebuilders want is to have their reputation soured by a drawn-out investigation into anti-competitive practices,' Mr Coatsworth said. 'The industry has already been through various crises in recent years… The £100 million figure seems like peanuts to make a big problem go away. Housebuilders will be happy, and so will the Government as it can now say there is extra money going into the affordable housing pot. 'The housebuilders aren't admitting they've done anything wrong, yet they've probably used up their get out of jail free card.' FTSE 250-listed Zigup lost 9.4%. The vehicle rental and management firm, based in Darlington, posted a 37% pre-tax profit decline to £101.5 million for the year ended April 30, from £162.1 million in 2024. Zigup said the results still beat expectations, and that it maintains a 'positive outlook' for the year ahead. Later on Wednesday, Zigup reported that chief executive Martin Ward purchased 74,631 shares at an average of 334.97 pence, worth £249,992. Smaller-cap Jet2 lost 8.7%. The Leeds-based tour operator and airline said pre-tax profit rose 12% on-year to £593.2 million, with revenue up 15% to £7.17 billion. It also proposed a final dividend of 12.1 pence, up from 10.7p. Jet2 said bookings continue to be made closer to departure, limiting forward visibility, but added that it remains satisfied with its financial progress so far, and continues to trade in line with the £579 million consensus for pre-tax profit before foreign exchange revaluation. Tekmar gained 9.4%. The Newton Aycliffe-based offshore energy technology and services provider said it has won a contract to supply subsea infrastructure technology for a pipeline project in the Middle East. The contract is worth around £2 million, with the full amount to be recognised during this financial year. Tekmar said the deal was won through a major contractor operating in the Middle East. In European equities on Wednesday, the CAC 40 in Paris closed up 1.4%, while the DAX 40 in Frankfurt ended up 1.3%. The pound was quoted at 1.3583 dollars at the time of the London equities close on Wednesday, higher compared with 1.3574 dollars on Tuesday. The euro stood almost flat at 1.1706 dollars, against 1.1709 dollars. Against the yen, the dollar was trading lower at 146.53 yen compared with 146.82 yen. Stocks in New York were higher. The Dow Jones Industrial Average was up 0.1%, the S&P 500 index up 0.3%, and the Nasdaq Composite up 0.6%. The yield on the US 10-year Treasury was quoted at 4.38%, narrowing from 4.42%. The yield on the US 30-year Treasury was quoted at 4.91%, narrowing from 4.96%. Wholesale inventories in May declined in line with forecasts, the US Census Bureau reported on Wednesday. Total inventories of merchant wholesalers for May totalled 905.5 billion dollars, down 0.3% monthly and up 1.4% from the same month last year. The monthly decrease was in line with FXStreet-cited consensus, and unchanged from a 0.3% decline in April. Sales of merchant wholesalers decreased 0.3% on-month and rose 4.8% on-year to 697.2 billion dollars, while the inventories/sales ratio for merchant wholesalers changed on-year to 1.30 from 1.34. Brent oil was quoted higher at 70.30 dollars a barrel at the time of the London equities close on Wednesday, from 69.87 dollars late on Tuesday. Gold was quoted higher at 3,308.72 dollars an ounce against 3,297.61 dollars. The biggest risers on the FTSE 100 were British American Tobacco, up 88.5p at 3,616.5p, Rolls-Royce, up 18p at 984.4p, Barclays, up 5p at 339.6p, NatWest, up 6.7p at 497.6p, and Smith & Nephew, up 15p at 1,115p. The biggest fallers on the FTSE 100 were WPP, down 99p at 428.6p, Antofagasta, down 55.5p at 1,864p, Glencore, down 8.2p at 298.2p, easyJet, down 13.4p at 525.6p, and Anglo American, down 55p at 2,170p. On Thursday's economic calendar, the US has initial jobless claims and comments from Federal Reserve governor Christopher Waller. On Thursday's UK corporate calendar, Trifast will publish full-year results. Multiple companies, including Grafton Group and Severn Trent, are releasing trading updates. Contributed by Alliance News
The Independent
09-07-2025
- Business
- The Independent
Stocks mixed as Trump tariff tensions continue
Stock prices in London closed mostly lower, after Wednesday saw investors taking stock of US President Donald Trump's latest tariff-related moves ahead of Federal Reserve meeting minutes due at 7pm UK time. Earlier in the week, Mr Trump announced a new August 1 deadline for negotiations on tariffs, insisted that 'No extensions will be granted', and sent new rates to various trading partners. He also said he plans to impose a 50% tariff on copper, floated the possibility of a 'very, very high rate, like 200%' levy on pharmaceuticals, and ordered probes into imports of lumber, semiconductors and critical minerals. Commerce secretary Howard Lutnick told CNBC that studies on pharmaceuticals and semiconductors would be completed by the end of the month, and that the new copper rate is likely to be implemented at the end of July or on August 1. 'We would only note that (August 1) is the third deadline so far,' BBH analysts said. 'We've enjoyed a 90-day period of relative quiet on the tariff front, punctuated every now and then by a flare-up but quiet enough for markets to once again get complacent about the stagflation risks… Tariffs of this magnitude, if implemented, could finally bring about the macro shock that markets have been waiting for.' AJ Bell's Dan Coatsworth, meanwhile, said: 'The drip-drip of tariff information threatens to increase investor frustration as many people would rather get all the bad news out of the way in one go, so they can get a clearer idea of the lay of the land… The pressure is now on for drug companies to expand US production facilities so they are effectively on the doorstep of American customers.' The FTSE 100 index closed up 12.84 points, 0.2%, at 8,867.02. The FTSE 250 ended down 13.82 points, 0.1%, at 21,567.86, and the AIM All-Share closed down 5.07 points, 0.6%, at 770.43. In large-caps, BP was up 0.2%. The London-based oil major has agreed to sell its Netherlands mobility and convenience and BP pulse businesses to energy company Catom BV, which is based in Breda in the Netherlands. The transaction includes around 300 Dutch retail sites, 15 electric vehicle charging hubs and the associated fleet business. BP did not disclose financial details, but said the transaction contributes to its 20 billion dollar divestment programme and reset strategy to focus the downstream business. FTSE 100-listed housebuilders Persimmon and Barratt Redrow both gained 1.2%. Along with five other housebuilders, they have agreed to pay £100 million aggregate for affordable housing programmes in the UK, following a probe into price collusion, the Competition and Markets Authority said. 'It was probably the quickest decision ever made in the boardroom as the last thing housebuilders want is to have their reputation soured by a drawn-out investigation into anti-competitive practices,' Mr Coatsworth said. 'The industry has already been through various crises in recent years… The £100 million figure seems like peanuts to make a big problem go away. Housebuilders will be happy, and so will the Government as it can now say there is extra money going into the affordable housing pot. 'The housebuilders aren't admitting they've done anything wrong, yet they've probably used up their get out of jail free card.' FTSE 250-listed Zigup lost 9.4%. The vehicle rental and management firm, based in Darlington, posted a 37% pre-tax profit decline to £101.5 million for the year ended April 30, from £162.1 million in 2024. Zigup said the results still beat expectations, and that it maintains a 'positive outlook' for the year ahead. Later on Wednesday, Zigup reported that chief executive Martin Ward purchased 74,631 shares at an average of 334.97 pence, worth £249,992. Smaller-cap Jet2 lost 8.7%. The Leeds-based tour operator and airline said pre-tax profit rose 12% on-year to £593.2 million, with revenue up 15% to £7.17 billion. It also proposed a final dividend of 12.1 pence, up from 10.7p. Jet2 said bookings continue to be made closer to departure, limiting forward visibility, but added that it remains satisfied with its financial progress so far, and continues to trade in line with the £579 million consensus for pre-tax profit before foreign exchange revaluation. Tekmar gained 9.4%. The Newton Aycliffe-based offshore energy technology and services provider said it has won a contract to supply subsea infrastructure technology for a pipeline project in the Middle East. The contract is worth around £2 million, with the full amount to be recognised during this financial year. Tekmar said the deal was won through a major contractor operating in the Middle East. In European equities on Wednesday, the CAC 40 in Paris closed up 1.4%, while the DAX 40 in Frankfurt ended up 1.3%. The pound was quoted at 1.3583 dollars at the time of the London equities close on Wednesday, higher compared with 1.3574 dollars on Tuesday. The euro stood almost flat at 1.1706 dollars, against 1.1709 dollars. Against the yen, the dollar was trading lower at 146.53 yen compared with 146.82 yen. Stocks in New York were higher. The Dow Jones Industrial Average was up 0.1%, the S&P 500 index up 0.3%, and the Nasdaq Composite up 0.6%. The yield on the US 10-year Treasury was quoted at 4.38%, narrowing from 4.42%. The yield on the US 30-year Treasury was quoted at 4.91%, narrowing from 4.96%. Wholesale inventories in May declined in line with forecasts, the US Census Bureau reported on Wednesday. Total inventories of merchant wholesalers for May totalled 905.5 billion dollars, down 0.3% monthly and up 1.4% from the same month last year. The monthly decrease was in line with FXStreet-cited consensus, and unchanged from a 0.3% decline in April. Sales of merchant wholesalers decreased 0.3% on-month and rose 4.8% on-year to 697.2 billion dollars, while the inventories/sales ratio for merchant wholesalers changed on-year to 1.30 from 1.34. Brent oil was quoted higher at 70.30 dollars a barrel at the time of the London equities close on Wednesday, from 69.87 dollars late on Tuesday. Gold was quoted higher at 3,308.72 dollars an ounce against 3,297.61 dollars. The biggest risers on the FTSE 100 were British American Tobacco, up 88.5p at 3,616.5p, Rolls-Royce, up 18p at 984.4p, Barclays, up 5p at 339.6p, NatWest, up 6.7p at 497.6p, and Smith & Nephew, up 15p at 1,115p. The biggest fallers on the FTSE 100 were WPP, down 99p at 428.6p, Antofagasta, down 55.5p at 1,864p, Glencore, down 8.2p at 298.2p, easyJet, down 13.4p at 525.6p, and Anglo American, down 55p at 2,170p. On Thursday's economic calendar, the US has initial jobless claims and comments from Federal Reserve governor Christopher Waller.
Associated Press
12-06-2025
- Business
- Associated Press
New Survey Results: 94% of Investors Globally Feel Their Private Market Investments Are Behind and Need to Catch up
BOSTON--(BUSINESS WIRE)--Jun 12, 2025-- Brown Brothers Harriman (BBH) today released its firstPrivate Markets Investor Survey, which captures the ideas and opinions about private market investments from 500 institutional investors and wealth advisors from the United States, the United Kingdom, Germany, Switzerland, and Japan. The survey finds that the majority of investors (91%) plan to increase their holdings of private markets alternatives within the next two years. This desire to increase is fueled by the fact that 94% feel they are under-exposed to private markets and need to catch up. The research finds that the reason why investors buy private markets alternatives is spread across several factors: 'Although private asset strategies have seen exponential growth over the past decade, it's clear that many LPs still believe they're under-invested,' says Chris Adams, Global Head of Alternative Funds Business Development at BBH. 'The reasons differ among institutional and wealth types but one thing is for sure – both investor types are planning to accelerate their investments in this space.' Other key findings include: Read the full report here: 2025 Brown Brothers Harriman Private Markets Investor Survey The BBH Private Markets Investor Survey was conducted by Wakefield Research ( ) among 500 Institutional Investors and Wealth Advisors in the following markets: U.S., UK, Japan, Switzerland, and Germany, between March 28th and April 7th, 2025, using an email invitation and an online survey. All Institutional Investors were required to have private market investments as part of their portfolio. Of the 250 wealth advisors, 71 are invested in private markets and 179 are not, but plan to in the next two years. Within each market, a 50/50 quota was set for Institutional Investors and Wealth Advisors. BBH Investor Services is a leading provider of asset servicing and operating model solutions to global asset managers and financial institutions. Our asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, transfer agency, and foreign exchange. Our operating model solutions solve platform, data, and connectivity challenges across open-architecture operating models. We support our clients' growth, enhance operational efficiency and resiliency, and streamline reporting and oversight. BBH operates in over 90 markets worldwide from 18 offices. BBH employs approximately 6,000 source version on CONTACT: Prosek Partners (on behalf of BBH) [email protected] KEYWORD: NORTH AMERICA UNITED STATES IRELAND UNITED KINGDOM EUROPE MASSACHUSETTS INDUSTRY KEYWORD: BANKING ASSET MANAGEMENT PROFESSIONAL SERVICES FINANCE SOURCE: Brown Brothers Harriman Copyright Business Wire 2025. PUB: 06/12/2025 08:15 AM/DISC: 06/12/2025 08:16 AM
Yahoo
12-06-2025
- Business
- Yahoo
New Survey Results: 94% of Investors Globally Feel Their Private Market Investments Are Behind and Need to Catch up
91% of institutional investors and wealth advisors plan to increase private market allocations, with a push for greater liquidity options, according to inaugural Private Markets Investor Survey from BBH BOSTON, June 12, 2025--(BUSINESS WIRE)--Brown Brothers Harriman (BBH) today released its first Private Markets Investor Survey, which captures the ideas and opinions about private market investments from 500 institutional investors and wealth advisors from the United States, the United Kingdom, Germany, Switzerland, and Japan. The survey finds that the majority of investors (91%) plan to increase their holdings of private markets alternatives within the next two years. This desire to increase is fueled by the fact that 94% feel they are under-exposed to private markets and need to catch up. The research finds that the reason why investors buy private markets alternatives is spread across several factors: 28% of investors believe that private markets outperform public markets and offer higher returns. Another 28% say they're most motivated by a view that these products offer protection against inflation. 23% are driven to invest based on diversification and less volatility versus public markets. 21% primarily recognize the tax efficiency offered by these products. "Although private asset strategies have seen exponential growth over the past decade, it's clear that many LPs still believe they're under-invested," says Chris Adams, Global Head of Alternative Funds Business Development at BBH. "The reasons differ among institutional and wealth types but one thing is for sure – both investor types are planning to accelerate their investments in this space." Other key findings include: Geopolitical volatility makes private markets more attractive: 78% of respondents identified that geopolitical uncertainty increases their interest in private markets alternatives. Liquidity takes center stage: The importance of liquidity and access to capital was highlighted by both investor types: 59% of all investors prefer products with a liquidity window of 4-6 years - markedly earlier than the timeline for returning investor capital in typical closed-ended commitment-based funds. 43% of investors (the highest figure) say they prioritize liquidity over target performance. Both institutional and wealth investors noted that new products offering increased liquidity would prompt them to increase their exposure to private markets. Delays in capital – A butterfly effect: 98% of investors who are already invested in private markets reported delays in having their invested capital returned. Most suggest it materially altered their investment decisions. LP education and availability: Among those who have not invested in private markets alternatives as part of their portfolios, the main reasons include availability of products (63%), knowledge about the products (57%), and long lockup periods for capital (47%). New LP capital set to enter: The 179 wealth advisors who do not currently have exposure to private markets plan to increase their exposure significantly (39%) or somewhat significantly (60%) over the next two years. ETFs rising: 34% of global investors plan to invest in an ETF with exposure to private market investments; 57% want to learn more about these products; and only 5% think it's a bad idea. Read the full report here: 2025 Brown Brothers Harriman Private Markets Investor Survey The BBH Private Markets Investor Survey was conducted by Wakefield Research ( among 500 Institutional Investors and Wealth Advisors in the following markets: U.S., UK, Japan, Switzerland, and Germany, between March 28th and April 7th, 2025, using an email invitation and an online survey. All Institutional Investors were required to have private market investments as part of their portfolio. Of the 250 wealth advisors, 71 are invested in private markets and 179 are not, but plan to in the next two years. Within each market, a 50/50 quota was set for Institutional Investors and Wealth Advisors. About Brown Brothers HarrimanBrown Brothers Harriman (BBH) is a global financial services firm known for premium service and specialist expertise. We have a 200-year track record helping clients innovate and navigate complex financial markets. Our 6,000 employees serve clients and their investments in over 90 markets across BBH's 18 offices. As a private partnership, we are uniquely built to put clients first and create success that lasts. BBH Investor Services is a leading provider of asset servicing and operating model solutions to global asset managers and financial institutions. Our asset servicing solutions include custody, global tax services, depositary and trustee, accounting, administration, transfer agency, and foreign exchange. Our operating model solutions solve platform, data, and connectivity challenges across open-architecture operating models. We support our clients' growth, enhance operational efficiency and resiliency, and streamline reporting and oversight. BBH operates in over 90 markets worldwide from 18 offices. BBH employs approximately 6,000 professionals. References to specific types of securities and asset classes are for informative purposes only and are not intended to be and should not be interpreted as recommendations. View source version on Contacts Prosek Partners (on behalf of BBH)pro-bbh@
