 | | | | 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. | | | | | |
