The pace and scale of interest rate hikes across major developed and emerging economies shifted into a lower gear in July with policy makers adopting a more cautious approach in the face of varied inflation rates and a lacklustre global growth backdrop.
Italian payments giant Nexi vowed to fight to retain customers after banking partner Banco BPM chose to switch to a rival provider for retailer and card payments.
Financial services company Vesttoo said on Tuesday it was laying off about 75% of its staff and closing some offices in Asia, as it tries to recover from a scandal over a fraudulent letter of credit used as collateral in a transaction with an insurer.
A U.S. congressional committee on China said asset management giant BlackRock and index provider MSCI were facilitating investments into blacklisted Chinese companies.
British hedge fund manager Man Group posted forecast-beating first-half pretax profit and record assets under management on Tuesday, but a disappointing performance across several of its funds roiled investors, sending shares lower.
Metro Bank Holdings on Tuesday reported a first-half profit compared with a year-ago loss, helped by the British mid-sized lender keeping a tight rein on costs and benefiting from interest rate hikes.
After more than a decade trying to rehabilitate their image since an era of bailouts and mis-selling scandals, Britain’s banks are once again a target for public – and political – ire.
HSBC Holdings raised its key profitability target and announced a fresh $2 billion share buyback on Tuesday, as rising central bank interest rates worldwide helped it more than double its income for the first half of the year.
Australia’s largest pension fund, AustralianSuper, has appointed senior executives to its London office as part of the rapidly growing fund’s push to expand its presence overseas.
U.S. banks reported tighter credit standards and weaker loan demand from both businesses and consumers during the second quarter, Federal Reserve survey data released on Monday showed, evidence that the central bank’s interest-rate hike campaign is slowing the nation’s financial gears as intended.
