India’s ICICI Lombard General Insurance on Tuesday reported a 22.4% rise in third-quarter profit, helped by a growth in premiums and investment income.
Morgan Stanley’s revenue beat fourth-quarter expectations on Tuesday, as debt underwriting powered a rebound in investment banking, but its profit took a hit due to $535 million in charges.
PNC Financial Services Group’s net interest income shrank as it took on increased charges to replenish a government deposit insurance fund as well as workforce reduction expenses.
Goldman Sachs’ fourth quarter profit beat estimates on Tuesday as its equity traders capitalized on a market recovery and revenue from asset and wealth management rose, offsetting weaker investment banking.
Global securities and banking regulators proposed a blueprint on Tuesday to bolster the market’s ability to cope with extreme stresses such as those seen during the COVID lockdowns and the early days of Russia’s invasion of Ukraine.
War risk insurance premiums for shipments through the Red Sea are rising after further attacks on merchant vessels by Yemen’s Houthi movement and the expectation that ships with a UK or U.S. connection will be targeted, insurance sources said on Tuesday.
Company insolvencies in England and Wales look on track to hit a 30-year-high in the final three months of 2023 despite a sharp drop in December, official figures suggested on Tuesday.
Banks on Tuesday will urge the U.S. Federal Reserve to completely overhaul a draft rule hiking bank capital, in the latest leg of Wall Street’s effort to water down the Basel Endgame proposal that bankers say will hurt the economy.
Beleaguered property developer Country Garden said on Tuesday it has appointed KPMG Advisory (China) Ltd as its principal financial adviser for its offshore debt restructuring.
UBS Global Research increased its year-end target for the S&P 500 on Tuesday to 5,150, marking the highest projection among major global banks and indicating a potential 8% upside from current levels.
