U.S. brokerage firm Charles Schwab posted a smaller-than-expected drop in quarterly profit on Monday as strength in asset management fees softened the blow from a fall in its net interest revenue.
Abrdn said on Monday it has agreed to sell its European-headquartered private equity business to Brazilian firm Patria Investments , as it seeks to boost returns by offloading non-core assets.
UBS said it now expects the S&P 500 to hit 4,700 points only by December 2024, instead of the middle of the year as it forecast earlier, due to expectations of higher-for-longer U.S. interest rates.
Saudi Arabia’s $778 billion sovereign wealth fund has mandated banks to arrange a bond sale, a document showed, the first high-profile debt issue from the region since last week’s Israel-Hamas conflict unsettled regional markets.
The International Monetary Fund and World Bank wrapped up annual meetings in Morocco on Sunday with some progress towards increasing their lending resources but confronting a new economic shock from the Israel-Gaza conflict.
International Monetary Fund countries on Saturday failed to agree on a U.S.-backed plan to boost IMF funding without giving more shares to China and other big emerging markets, but pledged a “meaningful increase” in lending resources by year-end.
Proxy adviser Glass Lewis said on Friday it was recommending that investors in Italian bank Mediobanca vote in favour of the outgoing board’s slate of nominees for the new board.
Big bank executives warned a number of products and services could become uneconomical if new proposed bank capital hikes are adopted as written, but said they were hopeful they could win some changes.
Major U.S. banks said on Friday higher interest rates boosted profits even though the economy was slowing and consumers showed signs of more cautious behavior.
India’s state-owned banks will slow government bond purchases in the weeks ahead as banking system liquidity tightens, treasury officials from nine state lenders said.
