Buffett offloads more Bank of America shares; sales top $3.8 bln

Berkshire Hathaway , run by billionaire Warren Buffett, extended its selling of Bank of America shares, and has shed more than $3.8 billion of the second-largest U.S. bank’s stock since mid-July.

Cboe Global Markets reported a higher-than-expected second-quarter profit on Friday, helped by strong growth in options trading as geopolitical tensions and elevated interest rates prompted investors to actively hedge their exposure.

China’s financial regulator said on Friday that employees and managers can be exempted from penalties if they fulfilled their duties in cases of loan defaults in inclusive credit businesses, a statement showed.

UniCredit faces a second court case in Russia linked to guarantee payments the Italian bank was not able to honour due to Western sanctions imposed on Moscow after it invaded Ukraine in early 2022, it said in its half-year report.

British pensions, investment and life insurance company Royal London said on Friday it was finalising preparations to enter within months the ‘bulk annuity’ or pensions insurance market, a fast-growing sector attracting more regulatory scrutiny.

Austrian bank Erste Group beat second-quarter expectations and raised its 2024 net interest income (NII) forecast on Friday, helped by higher market interest rates in the euro zone and a larger loan volume.

Australia’s federal court has fined Mercer Superannuation A$11.3 million ($7.4 million) for wrongful claims of the pension fund’s environmental, social and governance (ESG) investments, the country’s corporate regulator said on Friday.

Wells Fargo is being investigated by government authorities over issues in its anti-money laundering and sanctions programs, the bank said on Thursday in a filing.

Insurer Prudential Financial reported a rise in second-quarter adjusted profit on Thursday, as its U.S. unit was boosted by stronger underwriting and higher investment returns.

Payments firm Block raised its forecast for annual adjusted core earnings on Thursday and unveiled a $3 billion buyback plan, betting on resilient consumer spending and cost-cutting measures, sending its shares up 5.3% after the bell.

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