Shares in UK insurers fell on Wednesday, with traders pointing to an article in the Insurance Post that quoted the Financial Conduct Authority’s Head of Insurance Matt Brewis as saying premium finance was a “poor product”.
BlackRock and Ark Investment Management on Wednesday lowered the fees for their proposed spot bitcoin exchange traded funds (ETFs), looking to undercut almost a dozen other competitors racing to launch such investment vehicles.
The bankrupt parent company of Silicon Valley Bank plans to turn over its remaining venture capital business to a new, creditor-backed company while it continues to fight U.S. regulators’ seizure of nearly $2 billion in cash, according to court documents filed on Tuesday.
Canada’s big banks are preparing to set aside more rainy-day funds in the new fiscal year to deal with rising bad debts as their customers struggle with record borrowing costs and a slower economy.
BlackRock , the world’s largest asset manager, on Tuesday said it will cut about 3% of its current workforce, though it expects to have a larger headcount by the end of 2024.
Dutch insurer NN Group on Tuesday said it had reached an agreement with interest groups to settle a years-long fight over investment-linked products for a total consideration of approximately 360 million euros ($393.12 million).
Commercial banks should prepare to borrow more readily from central banks to limit contagion in times of stress and discourage runs by depositors, an expert regulatory panel said on Tuesday in a report about last year’s banking crisis.
U.S. banking giants are expected to report lower profits for the fourth quarter after they set money aside to cover souring loans while also paying more to depositors.
Italy’s UniCredit on Tuesday raised 1 billion euros ($1.1 billion) in subordinated, or Tier2, debt, drawing nearly three times that amount in orders as it joined a rush of start-of-the-year debt issuance.
Franklin Templeton’s unit Lexington Partners said on Tuesday it had raised $22.7 billion for its latest global secondary fund, reinforcing the investment firm’s bets on a fast-growing corner of the private equity industry.
