Citigroup’s full-year revenue is expected to be towards the lower end of its previous forecast, at around $78 billion, Chief Financial Officer Mark Mason said at a conference on Wednesday.
Tax raised by governments in OECD countries as a proportion of GDP fell in 2022 for only the third time since the global financial crisis, the Paris-based organisation said on Wednesday.
Deutsche Bank said on Wednesday it expects the European Central Bank to cut interest rates by 150 basis points (bps) next year, 50 bps more than their earlier forecast, as inflation cools and central bank officials adopt a less hawkish tone.
Insurers grappling with the rising risk of physical attacks on businesses due to war or civil disorder are reconsidering the breadth and scope of such cover in potential conflict hot spots.
Insurers are heavily exposed to the impact of climate change and also face risk from their alternative investments in reinsurance, the International Association of Insurance Supervisors said in a report on Wednesday.
There is no evidence that asset purchases by the Swedish central bank from 2015 to 2022 had any substantial effect on inflation, and they will come with a very high cost for the state, the National Audit Office said on Wednesday.
JPMorgan Chase’s integration of failed First Republic Bank is going according to the plan as it looks to retain customers and build on services it acquired, said Marianne Lake, the Co-CEO of JPMorgan’s consumer and community bank.
PNC Financial Services CEO William Demchak on Tuesday said that the market disruptions caused by the Basel III endgame proposal is an opportunity for the bank to grow.
UniCredit’s board is working to pick by early January a new candidate to chair the Italian bank as it prepares to hand Chief Executive Andrea Orcel a new contract in spring 2024, two sources close to the matter said.
