(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
(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
May 16 (Reuters) – Shares of Capital One Financial Corp (COF.N) rebounded from losses over the past two weeks on Tuesday after billionaire investor Warren Buffett’s Berkshire Hathaway Inc (BRKa.N) disclosed that he had taken a nearly $1 billion stake in the credit card-focused bank. Berkshire acquired 9.92 million shares of Capital One, a stake … Read more
WILMINGTON, Delaware, May 15 (Reuters) – The U.S. Virgin Islands has subpoenaed Tesla Inc (TSLA.O) CEO Elon Musk over documents in his lawsuit accusing JPMorgan Chase & Co (JPM.N) of helping to enable sexual abuse by late sex offender Jeffrey Epstein. The subpoena, issued on April 28, was revealed Monday in a request from the … Read more
NEW YORK/WASHINGTON, May 15 (Reuters) – As talks on raising the U.S. government debt ceiling to $31.4 trillion heat up, banks and asset managers on Wall Street have begun to prepare for the fallout of a potential default. The financial industry has prepared for such a crisis before, most recently in September 2021. But this … Read more
