Credit funds at Blackstone, Apollo, DZ Bank and Astra Asset Management picked up bargains from UK pension funds during their scramble for cash, and some say pension schemes are still offloading assets as pressures persist.
China broadened its private pension scheme on Friday, allowing qualified banks and wealth companies to start individual pension businesses, and published a list of mutual fund products eligible under a programme which some forecast will grow to $1.7 trillion by 2025.
Italy's second-largest lender UniCredit will give its staff in Germany a bonus of 2,500 euros ($2,594) to compensate for rising inflation, a copy of an internal memo seen by Reuters and confirmed by a spokesperson showed.
Moody's Corp is shutting its China consulting business and is laying off people associated with the unit in multiple locations across the country, two people with knowledge of the matter said on Friday.
The Swiss arm of Credit Suisse's investment bank will be largely unaffected by the restructuring plan the bank announced last month, said Jens Haas, head of investment banking Switzerland.
The International Monetary Fund's board has approved Senegal's request for a credit extension to Jan. 10, 2023, to allow time to complete credit and policy reviews, the Fund said in a statement on Thursday.
The International Monetary Fund (IMF) concluded that Mexico still meets the eligibility criteria for a flexible credit line, the country's central bank said on Thursday.
The Swiss National Bank has issued bills and repurchase agreements (repos) worth nearly 140 billion Swiss francs ($148.6 billion) after the central bank started its latest round of monetary tightening, SNB governing board member Andrea Maechler said on Thursday.
Francesco De Ferrari, the head of Credit Suisse's wealth management business, is focused on growth markets, high net worth clients and technology as the key to fuel the fortunes of the embattled Swiss bank.
