Pimco trims credit risk exposure amid looming concerns
Pimco has trimmed its overall exposure to credit risk over the past year, particularly in Europe, amid expensive valuations for corporate bonds, according to Andrew Balls, chief investment officer for global fixed income at the $1.5 trillion bond fund. (WSJ)

Barclays Africa share sale bolsters balance sheet
Barclays will likely improve its core capital ratio improve by 1 percentage point after it sold a 35% stake in Barclays Africa worth £2.2bn on Thursday, amid strong investor response. Barclays will no longer have to consolidate the results of its African subsidiary, in which it currently holds a 15% stake post the share sale. (Times)