Thursday 21 July 2022

UK's Beazley says chairman to exit in autumn 2022

UK's Beazley says chairman to exit in autumn 2022

British insurer Beazley said on Thursday that Chairman David Roberts will step down from the board in the autumn of 2022 to become chair of the Court of the Bank of England.

Credit Suisse banned from disposing of shares in Russian units -Moscow court ruling

Credit Suisse has been banned from disposing of shares in its Russian unit under a Moscow court which also ordered the seizure of 10 million euros from the Swiss bank after it failed to repay a loan to a sanctioned bank.

Citi expects revenue from India corporate business to grow 10% a year

Citigroup expects annual growth in its corporate banking business in India to accelerate to 10% in the next few years as it focuses on its institutional business after recently selling its consumer banking business, a top executive said.

EXCLUSIVE Fifth Wall climate fund aims to decarbonize property industry

Fifth Wall, a Los Angeles-based venture capital firm focused on real estate technology, said on Thursday it has raised $500 million for a climate fund to help decarbonize an industry estimated to account for nearly 40% of the world's carbon emissions.

U.S. GDP may fall again in Q2. Does it mean recession?

Between the backlogged orders from Christmas, ongoing high demand, and an improving flow of products from around the world, goods flooded into the United States in the first three months of this year at a record $3.4 trillion annual pace.

HSBC promotes Shaw to Australian chief executive

HSBC Holdings has appointed Antony Shaw to head up its Australian operations, according to a statement on Thursday.

For U.S. card issuers, recession worries may foreshadow a good quarter

U.S. card companies are likely to strike a cautious tone in their quarterly results as rising prices imperil strong spending by Americans stepping out of their pandemic shells.

Bankinter says Spanish bank tax would hurt economy

Senior executives of Spanish lender Bankinter on Thursday said that a proposed tax on Spanish banks to help tackle the rising cost of living could hit capital levels, hurt economic growth and dent investor confidence in the sector.

Bank of England sets out plans to regulate third party services to banks

The Bank of England set out proposals on Thursday for minimum reliability standards for companies like Microsoft, Google and Amazon which supply key services to banks and markets.

Hungary central bank leaves one-week deposit rate on hold at 9.75% at tender

Hungary's central bank kept its one-week deposit rate unchanged at 9.75% at a weekly tender on Thursday.

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