US equity funds attract inflows, defying a tech selloff

U.S. investors continued to pump money into equity funds in the seven days to July 24, shrugging off a technology sector selloff to focus on robust corporate earnings and the possibility of upcoming Federal Reserve interest rate cuts.

The Reserve Bank of India imposed a penalty of 24.1 million rupees (nearly $288,000) on Visa in relation to its usage of an unauthorised payment transfer method, the central bank said on Friday.

Private equity behemoth Apollo Global Management has invested $700 million in high-profile record label Sony Music Group, allowing its clients an opportunity to invest in “high grade” alternative assets.

Barclays , NatWest and Lloyds are among seven banks to share customer data with the National Crime Agency (NCA) in the largest project of its kind worldwide to tackle criminal gangs, money laundering and “dirty money” flowing through the country.

Britain’s insurers could face curbs on how they undertake acquisitions of certain pension schemes unless they manage risks better, the Bank of England said on Friday.

Asset manager T Rowe Price reported an 11% jump in second-quarter adjusted profit on Friday, helped by a relentless market rally that has boosted the value of clients’ investments and softened the hit from an outflow of funds.

Spanish insurer Mapfre said on Friday its first-half net profit jumped thanks to fewer and more benign natural disasters and a turnaround in its car insurance business in the United States.

India’s IndusInd Bank reported first-quarter profit below estimates on Friday, hurt by slower loan growth due to cautious disbursals, while lending margin shrunk slightly.

Assets managed by hedge fund Man Group jumped to a record $178.2 billion in the first half of 2024, with the company citing growth in its liquid credit strategies and solid U.S. direct lending.

Amundi, Europe’s biggest fund manager, posted better-than-expected quarterly inflows on Friday, driven by its Asian joint ventures amid sustained demand for risk-averse products.

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