|  | | | | | | | | Germany's Allianz has agreed to pay about $6 billion and its U.S. asset management unit will plead guilty to fraud after a group of its multibillion investment funds collapsed amid market turmoil triggered by the coronavirus pandemic in 2020. | | | | | | Germany's Allianz SE will pay about $6 billion and its U.S. asset management unit will plead guilty to fraud over the collapse of its multibillion dollar Structured Alpha funds amid market turmoil triggered by the COVID-19 pandemic. | | | | | | British International Investment (BII) and U.S. bank Citigroup Inc have signed a $100 million risk-sharing facility aimed at boosting lending to small businesses across Africa by up to four times that amount, BII said in a statement. | | | | | | Caixabank raised its key profitability target for 2024 and announced a 1.8 billion euro ($1.88 billion) share buy-back programme, expecting higher interest rates and economic recovery to boost banking revenue. | | | | | | Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. | | | | | | Credit Suisse Group AG's credit rating has been downgraded to BBB from BBB+ by Standard & Poors, a blow for the Swiss bank which reported a first quarter loss and is facing increasing shareholder unrest following a string of scandals. | | | | | | Nubank on Monday posted a surge in revenue that beat expectations, as the Warren Buffett-backed digital bank benefited from a healthy loan book and strong client additions, sending its shares surging nearly 8% in extended trading. | | | | | | London-based fund Parvus Asset Management has increased its holding in UniCredit to 5%, becoming the second-biggest investor in the Italian bank, data showed on Monday. | | | | | | Saudi Arabia on Monday extended a deposit it gave the central bank of Yemen's internationally recognised government in 2018, and agreed to pay the final installment of the promised $2 billion, the central bank and Saudi ambassador to Yemen said. | | | | | | Portugal's largest listed bank, Millennium bcp , on Monday posted a 95% rise in first-quarter net profit, driven by robust income at home, despite losses at its Polish subsidiary due to heavy provisions for foreign currency loans. | | | | | | | | | | | | | | | Sponsors are not involved in the creation of these or any other Reuters news articles.
Get Reuters News App
To manage which newsletters you're subscribed to, click here.
Want to stop receiving this email? Unsubscribe here.
To contact us with feedback, reply to this email. | | | | | | | | | |
