DeSantis Drops Out, Broker Upheaval & Bumper Hedge Fund Profits

Your morning briefing, the business news you need in just 15 minutes. On today's podcast: (1) Ron DeSantis dropped out of the 2024 US presidential race on Sunday and endorsed front runner Donald Trump, narrowing the Republican field to two major candidates ahead of the closely watched New Hampshire primary on Tuesday. (2) Billionaire money managers Chris Hohn and Ken Griffin led hedge funds to deliver one of the best years for clients in 2023. The industry produced combined gains worth $218 billion after fees, according to estimates by LCH Investments, a fund of hedge funds. Hohn's TCI Fund Management made $12.9 billion to top LCH's rankings, followed by Citadel, which made $8.1 billion. (3) Travellers flying to the UK and Ireland are being forced into lengthy diversions and even to different countries as storm Isha throws planes off course. (4) Hundreds of thousands of Germans flooded the streets over the weekend, including in front of the national parliament, to protest against far-right extremism and the rise of the anti-immigrant AfD party. (5) A wave of mergers is sweeping through the City of London's landscape of corporate brokers -- the key advisers every listed firm is required to have. With the viability of many brokers in doubt, companies are now increasingly looking for new advisers. See omnystudio.com/listener for privacy information.