The Swiss National Bank’s next chairman will be Martin Schlegel, the government said on Wednesday, replacing long-serving boss Thomas Jordan when he steps down at the end of September.
UBS is pushing the Swiss government to clarify how much more the bank will need to hold in capital buffers after buying Credit Suisse, amid concerns the talks will drag on for months, unnerving investors, sources familiar with the matter said.
Banks advising South Korean automaker Hyundai on its India IPO are set to make as much as $40 million in fees, three sources said, a windfall in a market where banks typically struggle to make money given cost-conscious clients and fewer big deals.
Danske Bank on Wednesday raised its net profit forecast for 2024 to a range of 21 billion to 23 billion Danish crowns ($3.01 billion-$3.30 billion) from between 20 billion and 22 billion crowns seen previously, citing strong credit quality.
The debt crisis risk that has overshadowed the global economy for four years is beginning to recede, the Paris Club of rich creditor nations said in its 2023 annual report on Wednesday.
Liontrust Asset Management reported a 23% drop in annual profit on Wednesday and net outflows of 6.1 billion pounds ($7.74 billion) as investor sentiment remained challenging.
President Emmanuel Macron’s shock snap election has rocked France’s bond market, the largest in the euro zone, as a strong showing for the far right and left wing parties in opinion polls exacerbates concerns about fiscal sustainability.
Norway’s largest pension fund KLP said on Wednesday it will no longer invest in Caterpillar Inc because of risk that equipment sold by the U.S. group to Israel is used to demolish Palestinian homes and infrastructure, including in the Gaza war.
BlackRock held onto board seats at six closed end funds last week after investment firm Saba Capital Management did not secure enough votes to replace directors or fire the fund manager, according to data released by BlackRock on Tuesday.
Big U.S. lenders are expected to show they have ample capital to weather any renewed turmoil during this week’s Federal Reserve health checks, but will be conservative on investor payouts amid economic and regulatory uncertainties, analysts said.
