Britain will roll out its new regime for approving the sale of European Union-based investment funds in the UK from next April, with no decision yet on whether extra requirements would be added, the Financial Conduct Authority said on Thursday.
M&G Investments is seeking to close its 565 million pounds ($685 million) M&G Property Portfolio due to declining interest in open-ended strategies from UK investors, the company said on Thursday.
Marsh McLennan reported a better-than-expected third-quarter profit on Thursday, helped by higher interest income that the insurance brokerage earned from funds held on behalf of clients.
Fifth Third Bancorp said on Thursday it expects interest income (NII) to decline again in the current quarter after posting a 1.3% fall in third-quarter profit.
KeyCorp on Thursday reported a lower-than-expected drop in its quarterly profit as smaller rainy-day funds cushioned a hit from a decline in its net interest income.
A Russian appeals court has imposed interim measures against Credit Suisse and ruled that funds totalling $20.9 million held by the Swiss bank in Russia may be seized, court filings published on Thursday showed.
Blackstone Inc , the world’s largest private equity firm, said on Thursday that its third-quarter distributable earnings fell by a steeper-than-expected 12% year-on-year owing to a decline in asset sales from its real estate business.
Truist Financial reported a near 31% drop in third-quarter profit on Thursday as the lender’s interest income from mortgages and credit-card debt declined while it allocated more funds towards rainy-day reserves to cover potential sour loans.
Brazilian fintech Nubank’s Mexico arm has requested a banking license from local regulators, the unit’s top executive said on Thursday, describing it as a bid to broaden product offering.
Shares of India’s IndusInd Bank rose as much as 3% in heavy volumes in a weak market on Thursday, as the private lender managed to protect margins despite high funding costs, and reported strong loan growth.
