Monday 28 March 2022

Reuters Global Investor: Top China brokerage CITIC posts 55% rise in 2021 profit on investment gains

Top China brokerage CITIC posts 55% rise in 2021 profit on investment gains

CITIC Securities Co , , China's biggest brokerage, reported on Monday a 55.01% rise in profit in 2021, led by strong gains in securities investments.

Lloyd's of London CEO in hospital after bike accident

Lloyd's of London Chief Executive John Neal is in hospital following a bike accident on March 26, but is expected to make a full recovery, the commercial insurance market said on Monday.

Buyout firm TPG's fourth-quarter earnings jump 34% on strong asset sales

TPG Inc said on Monday its fourth-quarter after-tax distributable earnings rose 34% year-on-year, driven by strong asset sales across its portfolio of private equity, impact investment, growth equity, and real estate assets.

Rouble firms, Russian stocks extend slide in volatile trade

The rouble strengthened in Moscow trade on Monday, heading back towards a near four-week high against the dollar, while Russian stocks extended their slide lower on the third session of trading after an almost month-long suspension.

Italy's Generali fires CEO's internal rival in power struggle

Generali has fired executive Luciano Cirina, who is challenging incumbent Philippe Donnet for the role of chief executive, with immediate effect for alleged breach of contract, Italy's largest insurer said on Monday.

Barclays hit by $590 million loss on product sales blunder

British bank Barclays disclosed on Monday an estimated 450 million pound ($592 million) loss on mishandled structured product sales and said this meant it would now delay a share buyback.

End of an era: NatWest returns to majority private control

British state-backed bank NatWest has returned to majority private ownership, 14 years after its bailout by taxpayers at the height of the global financial crisis.

Locked Russian assets add to war woes for British pension funds

British pension fund managers are writing off billions of pounds of frozen Russian assets held for their members as they run out of options to sell them safely, adding to the risks to their funding positions from Russia's invasion of Ukraine.

U.S. Treasury yield curve divergence sends mixed recession signals

Two measures of the U.S. Treasury yield curve that are widely watched for recession warnings have veered in opposite directions, raising questions as to what degree central bank bond buying and other technical factors may be distorting the signals on the economy's path.

Some Credit Suisse shareholders don't want to absolve executives of Greensill losses

Some shareholders in Credit Suisse do not want the bank to hold a vote in the annual meeting on absolving senior executives from losses racked up in the Greensill affair, The Financial Times reported on Sunday.

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