Lloyd’s of London underwriters are leading insurers in raising rates and cutting the amount of cover they offer for risks involving Taiwan as concerns grow over possible military action by China, industry sources with knowledge of the matter say.
Freddie Neave, the hedge fund manager who replaced Crispin Odey to take charge of Odey Asset Management’s European Inc. fund, has dropped the firm’s short position on UK gilts, an investor letter seen by Reuters showed.
Changes to India’s withholding tax regime will increase borrowing costs for Indian companies raising money from foreign investors by about 30 to 40 basis points, analysts at J.P.Morgan said on Thursday.
The slide in U.S. bank stocks this week appeared to catch traders in the options market by surprise, data shows, raising questions over whether bank investors have become a little too comfortable with the sector that only months ago was in crisis.
Dutch cooperative bank Rabobank (RABO.UL) on Thursday reported that its first-half profit nearly doubled as higher interest rates helped interest income and loan impairments remained modest.
Zurich Insurance on Thursday reported a better-than-expected half-year operating profit, helped by its Life business and price hikes aimed at mitigating higher insurance claims from unpredictable weather.
Italy’s biggest bank Intesa Sanpaolo is getting closer to securing approval from Moscow to transfer its Russian business to local management, a source close to the matter said, as the country’s stance on asset disposals shifts.
Hobbled by the impact of sanctions against founding shareholder Russia, the New Development Bank (NDB) set up by the BRICS countries needs to increase its local currency fundraising and lending, South Africa’s finance minister told Reuters.
Payments firm Network International Holdings posted higher half-year revenue and profit on Thursday, buoyed by steady merchant wins and growth in its outsourced payments services business.
The German reinsurer Munich Re said on Thursday net profit in the second quarter fell a worse-than-expected 27%, hurt in part by losses in the disposal of fixed-income securities, but it said there was a better chance of beating its full-year target.
