UBS is weighing plans to cut several hundred million dollars of costs in its asset management division as the bank studies options for a business whose profit is under pressure, people with knowledge of the discussions told Reuters.
One of the Societe Generale traders let go by the French bank late last year after it uncovered a series of unauthorised bets has criticised his former bosses, saying they were at fault for failing to identify the trades.
Intercontinental Exchange reported a rise in adjusted profit for the first quarter on Thursday as volumes hit a record on surge in energy markets trading.
Health insurer Cigna Group raised its annual profit forecast on Thursday, as lower-than-expected medical costs and strength in its pharmacy benefit management unit helped it beat first-quarter earnings estimates.
A Nigerian court on Thursday adjourned a money laundering trial against cryptocurrency exchange Binance and two of its executives to May 17 after a lawyer for the exchange said he had not been served with documents needed to prepare for the case.
Standard Chartered PLC beat forecasts on Thursday with a 5.5% rise in first-quarter pretax profit, as a surge in income from its trading and wealth businesses more than compensated for additional credit losses.
Apollo Global Management said on Thursday its first-quarter adjusted net income rose 26% year-on-year, driven mostly by growth in management fees as well as earnings from its flagship annuities business.
Lloyd’s of London (SOLYD.UL) insurers Hiscox and Lancashire do not expect large insurance claims from the collapse of Baltimore’s Francis Scott Key Bridge in March that caused widespread disruption, they said on Thursday.
Chubb , which had insured Baltimore’s Francis Scott Key Bridge, is getting ready to pay $350 million to the state of Maryland, in what could be the first major payout tied to the collapsing of the bridge in March.
