Illimity, Trafigura lend money to Italian refinery for energy transition

Illimity and commodity trader Trafigura have teamed up to lend more than 400 million euros ($434 million) to Italian refinery ISAB, which will invest 1.4 billion euros in the next decade to strengthen its business and make it greener.

Ares Management said on Wednesday it has closed its latest direct lending fund with a capital base of $34 billion, making it the largest in the investment manager’s history.

Italian asset manager Anima Holding reported on Wednesday a yearly increase of 59% in its adjusted net profit for the first six months of the year, helped by positive contributions from the now consolidated Kairos and Castello SGR.

Mastercard’s second-quarter profit beat expectations as customers kept up spending heavily using its cards, sending shares of the payments giant nearly 3% higher before the open on Wednesday.

Financial services and insurance provider CBIZ said on Wednesday it would buy Marcum, one of the biggest accounting services providers in the United States, in a $2.3 billion cash-and-stock deal.

Private equity firm KKR & Co said on Wednesday its second-quarter adjusted net income jumped 49% year-on-year, driven by an increase in management, transaction and performance fees, as well as earnings from its annuities business.

HSBC Holdings upgraded its income outlook, as the bank showed progress in its efforts to shield its business from global interest rate cuts that may hit lending revenue.

Citigroup repeatedly breached a U.S. Federal Reserve rule that limits intercompany transactions, leading to errors in its internal liquidity reporting, according to a Citi document from December seen by Reuters.

Higher debt payments and the possibility of a U.S. recession over the next 10 years could boost U.S. debt levels beyond recent forecasts and weigh on economic growth, an analyst at investment firm DoubleLine said.

Top Indian private lenders are seeing more farmers and rural borrowers delay loan repayments as unpredictable weather impacts output and rising agricultural costs stretch their incomes further, according to quarterly earnings reports and a dozen bankers.

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