 | | | | Citigroup Inc is planning to hire 500 employees over the next three years for a new wealth division, Bloomberg News reported on Tuesday, citing an interview with the segment's global head. (https://bloom.bg/3SiFxWw) | | | | | | The trillions of dollars in overnight cash tucked away daily at the Federal Reserve could turn into a major headache for banks that could squeeze their balance sheets and impair their ability to lend. | | | | | | KKR & Co Inc said on Tuesday its second-quarter after-tax distributable earnings fell 9% year-on-year, as a slowdown in dealmaking amid the market downturn resulted in a plunge in transaction fees it earns from its companies and clients. | | | | | | The European Commission on Tuesday approved revised restructuring targets for Italian bank Monte dei Paschi di Siena (MPS) and a new deadline for the government to sell its controlling stake. | | | | | | The Russian and Belarusian operations of Raiffeisen Bank International (RBI) posted the sharpest gains in profit among its subsidiaries in the first half, figures on Tuesday showed, even as the Austrian bank weighs a possible withdrawal from the region. | | | | | | Mitsubishi UFJ Financial Group Inc reported a 70% plunge in first-quarter net profit, blaming one-off losses related to the sale of MUFG Union Bank and a drop in the value of its stake in ride-hailing firm Grab Holdings . | | | | | | British motor insurer Direct Line is raising premiums after higher claims hit its first-half profits, as the company feels the effects of soaring prices for everything from used cars to spare parts. | | | | | | UK fund manager Man Group flagged potential volatility in its inflows and outflows in the near term on Tuesday amid rising inflationary pressures, while reporting net inflows 2.7% ahead of the broader asset management industry. | | | | | | Lender Virgin Money UK raised its margin forecast, helped by higher interest rates and as credit card spending remained above pre-pandemic levels. | | | | | | Italy's top insurer Assicurazioni Generali said on Tuesday it would increase prices to keep up with rising costs, and maintained its financial targets after a strong life business helped it beat first-half earnings expectations. | | | | | |
