 | | | | Not convinced by central banks' pledge to stamp on inflation, many investors are on the hunt for assets that will protect their portfolios from years of decline in the value of money. | | | | | | Futures exchange operator CME Group Inc reported a near 22% rise in quarterly adjusted profit on Wednesday, benefiting from higher clearing fees as fears of a looming recession forced investors to realign their portfolios to hedge against potential risks. | | | | | | Several U.S. distressed debt asset managers are in fundraising talks with investors to boost their firepower, anticipating that a recession will create more opportunities to snap up and profit off troubled companies' debt, according to multiple sources. | | | | | | UBS Group AG plans to set up a wholly owned mutual fund business in China, two people with direct knowledge of the matter told Reuters, as the Swiss bank seeks to expand its footprint in the country's $3.9 trillion retail fund market. | | | | | | Iran will soon start accepting payments made with Russia's Mir bank cards, a top official was quoted by Russia's RIA news agency as saying, making it the latest country to adopt the Russian-made alternative to Visa and Mastercard . | | | | | | Ireland's permanent tsb (PTSB) posted an underlying loss of 2 million euros ($2 million) in the first half of the year as higher operating expenses offset a 22% jump in new lending that it expects to continue into the rest of 2022. | | | | | | A rise in lending income supported by growth in mortgages and consumer loans and higher interest rates drove a recovery in financial margins at Unicaja , Spain's fifth-largest lender by assets, in the second quarter. | | | | | | Credit Suisse is well capitalised, finance chief David Mathers told reporters on Wednesday when asked whether the Swiss bank might increase its capital after another loss in the second quarter. | | | | | | British subprime lender Provident Financial returned to interim profit on Wednesday, as costs related to the wind-down of its doorstep lending unit fell and demand remained robust in its credit card business. | | | | | | Deutsche Bank posted a better-than-expected 51% rise in second-quarter profit on Wednesday as investment banking revenues rose, though the lender was less optimistic about the division's prospects for the full year and warned about the economic outlook. | | | | | |
