(1/3) The logo of insurer Allianz SE is seen on the company’s building in Puteaux, in the financial and business district of La Defense near Paris, outside Paris, France, May 14, 2018. REUTERS/Charles Platiau /File Photo Lloyd’s of London is the latest of the six to leave NZIA UN group warns ‘political attacks’ hurt insurers … Read more
May 22 (Reuters) – Shares of PacWest Bancorp (PACW.O) jumped on Monday after the troubled regional lender announced it had agreed to sell $2.6 billion in construction home loans at a price reduced in order to improve its balance sheet. PacWest shares rose nearly 20% on the deal, giving the Los Angeles-based bank breathing space … Read more
NEW YORK, May 22 (Reuters) – JPMorgan Chase & Co’s (JPM.N) net interest income will rise by $3 billion as it earns more interest on its purchase of bankrupt First Republic Bank this year , executives told investors Monday. The largest US lender expects its net interest income to reach $84 billion thanks to higher … Read more
NEW YORK/WASHINGTON, May 22 (Reuters) – As talks on raising the U.S. government debt ceiling to $31.4 trillion culminate, banks and asset managers on Wall Street are bracing for the fallout a potential defect. The financial industry has prepared for such a crisis before, most recently in September 2021. But this time the relatively short … Read more
One-year LPR maintained at 3.65%, five-year LPR at 4.3% The yuan broke the 7 to the dollar mark Widest China-U.S. government bond yield spread in two months PBOC may cut RRR in next policy move – analysts SHANGHAI/SINGAPORE, May 22 (Reuters) – China kept key rates unchanged for the ninth month of May on Monday, … Read more
May 21 (Reuters) – The absence of women from the list of potential successors to the CEO of Morgan Stanley (MS.N) underscores the importance of cultivating and retaining diverse talent, according to corporate governance experts. Morgan Stanley co-chairmen Ted Pick and Andy Saperstein and chief investment officer Dan Simkowitz are the first to succeed James … Read more
NEW YORK, May 19 (Reuters) – Morgan Stanley (MS.N) CEO James Gorman plans to step down within a year but remains executive chairman, ending 13 years in the role in which he served built the Wall Street society. into a wealth management centre. Gorman, 64, told shareholders on Friday that the bank’s board had identified … Read more
(1/2) US financier Jeffrey Epstein appears in a photograph taken for the New York State Division of Criminal Justice Services’ Sex Offender Registry on March 28, 2017 and obtained by Reuters on July 10, 2017. Learn more May 17 (Reuters) – Deutsche Bank AG (DBKGn.DE) has agreed to pay $75 million to settle a lawsuit … Read more
NEW YORK, May 18 (Reuters) – Bankers are tightening risk management, oversight and contingency procedures around social media use after an internet-fueled race toppled Silicon Valley Bank a while ago two months and caused unrest in the industry. In boardrooms across the United States, leaders are crafting programs and plans to counter online threats, including … Read more
May 16 (Reuters) – UBS Group AG (UBSG.S) expects a financial hit of around $17 billion following the takeover of Credit Suisse Group AG (CSGN.S), the bank said in an early presentation Wednesday as she prepares to complete the rescue of her struggling Swiss rival. UBS estimates the negative impact of fair value adjustments to … Read more
