 | | | | Wells Fargo & Co said on Monday it had reached an agreement with the U.S. Department of Labor regarding a review by the federal agency of certain 401(k) plan-related transactions. | | | | | | Bank of America Corp created a new group in its global wealth and investment management division to focus on lending to rich clients, the company told Reuters on Monday. | | | | | | Some Turkish banks are curtailing corporate lending after the government's latest raft of regulations raised their costs and forced many to cut their balance sheet risks, five banking and private sector sources told Reuters. | | | | | | Global geopolitical tensions, high inflation and climate change have heightened demand for risk protection and will lead to increased premiums, top reinsurers said at the industry's annual gathering in Monte Carlo. | | | | | | Munich Re said reinsurance rates were set to rise across the industry, caused by inflation, higher interest rates and a decline in capital to underpin underwriting activity. | | | | | | Rockefeller Capital Management is aiming to double its assets under management to about $200 billion in three to five years as it expands into new U.S. cities and hires more wealth managers, its chief executive officer said. | | | | | | Investment banks are set to make a record-breaking $20 billion trading and financing commodities like oil, gas and metals in 2022, more than triple what they earned in the years before COVID-19, analytics firm Coalition Greenwich told Reuters. | | | | | | Indian lender Yes Bank is likely to approve the transfer of stressed assets worth 480 billion rupees ($6 billion) to private equity firm J.C. Flowers at its next board meeting, said a source with direct knowledge. | | | | | | Russian bank Unistream, which specialises in money transfers, has seen a surge in remittances since Moscow began operations in Ukraine and plans to launch instant transfers to India, Turkey and countries in Africa, its board chairman told Reuters. | | | | | | The Indian government is stepping up scrutiny on digital lending apps in an attempt to weed out ones which conduct unethical lending and recovery practices, the government said in a notification on Friday. | | | | | |
