EnCap Investments is seeking to sell XCL Resources, four people familiar with the matter said, two years after the private equity firm’s plan to combine the oil and gas producer with a local rival was thwarted by U.S. antitrust regulators.
Indian mutual funds are likely to continue swapping the central government debt on their books with high-yielding state government bonds, expecting the spread in yields between the two to ease soon, four fund managers said on Thursday.
The Bank of Italy will pay around 615 million euros ($663.65 million) into state coffers despite posting a 2023 gross loss of 7.1 billion euros due to the European Central Bank’s restrictive monetary policy, governor Fabio Panetta said on Thursday.
The collapse of Baltimore’s Francis Scott Key Bridge is likely to lead to a multi-billion dollar insurance loss, the chairperson of commercial insurance market Lloyd’s of London (SOLYD.UL) said on Thursday.
India’s Alteria Capital said on Thursday it has raised 15.5 billion rupees ($186.05 million) for its third fund, bolstering its ability to lend to startups which have historically boomed but are now struggling to find backers.
The Swiss National Bank (SNB) sold 22.7 billion Swiss francs ($25 billion) worth of foreign currencies in the fourth quarter, it said on Thursday, as the central bank pared back its policy of seeking to curb inflation by boosting the franc.
U.S. banks with significant lending exposure to some multi-family properties and particularly rent-controlled housing are vulnerable to posting losses this year on rising costs facing landlords, according to Fitch Ratings analysts.
UBS said it is still reviewing potential misstatements in Credit Suisse’s financial reports and talks with regulators to address the issue are ongoing.
UBS Chief Executive Sergio Ermotti earned 14.4 million Swiss francs ($15.90 million) in 2023, making him the best paid boss among leading European banks last year.
