Allianz agreed to sell Fireman’s Fund, its U.S. insurance unit for mid-sized corporations and entertainment industry clients, to Arch Insurance for $1.4 billion, the German insurer said on Friday.
Italian banks have seen their share prices soar to multi-year highs as rising interest rates turbocharge profits, driving up lending costs while deposit rates lag far behind.
Zimbabwe will introduce a new “structured currency” linked to foreign currencies and gold that it expects to provide more stability than its weakening dollar and help rein in inflation, its central bank governor John Mushayavanhu said on Friday.
Ireland’s 15-billion-euro sovereign investment fund will divest from six Israeli companies, including some of its largest banks, over their activities in the occupied Palestinian territories, Finance Minister Michael McGrath said on Friday.
BlackRock CEO Laurence Fink’s total pay for 2023 was $26.9 million, down from $32.7 million a year earlier, according to the company’s regulatory filings on Thursday.
Cboe Global Markets asked the SEC to approve a rule change that would allow issuers to add an exchange-traded fund share class to existing mutual funds, the exchange said on Thursday.
Jefferies Financial will strengthen its presence in Canada through an expanded partnership with Japan’s Sumitomo Mitsui Banking Corp (SMBC), as it looks to tap into the dealmaking market in the country.
JPMorgan Chase reorganized the leadership in its global banking division, installing new leaders in capital markets and investment banking, according to a memo seen by Reuters on Thursday.
Influential proxy adviser Glass Lewis joined another adviser in urging Goldman Sachs to split the CEO and chairman roles held by David Solomon, and further broke with management by calling on shareholders to reject the bank’s executive pay plans.
As the threat of secondary sanctions deters Chinese banks from facilitating trade with Russia, companies are flocking to the one Russian bank with a Chinese branch and facing up to six months of delays, five people familiar with the matter said.
