The competitive threat of financial technology companies to big banks diminished over the past year as rising interest rates constricted funding, a new report from Moody's Investor Service found.
TPG Inc said on Wednesday that its fourth-quarter distributable earnings fell 26% year-on-year as it cashed out fewer investments in its private equity, growth, impact and real estate portfolios.
Spanish banking associations have launched an appeal against the government's windfall tax before the High Court, the associations said on Wednesday confirming an earlier Reuters report.
Goldman Sachs Group Inc said on Wednesday a consumer-facing proprietary credit card never became "a meaningful part" of the bank's strategy, highlighting the Wall Street giant's retreat from its consumer banking ambitions.
Barclays reported a 14% fall in full-year pretax profit on Wednesday as earnings were poleaxed by surging costs, a collapse in deal fees and multi-million dollar fines relating to an administrative blunder.
American investment manager Van Eck will terminate a plan that has been in the works for over two years to establish a Chinese mutual fund unit due to business uncertainties, three sources with direct knowledge said.
The representative body of India's non-banking finance companies (NBFCs), on Wednesday, asked the federal government to give debt products, including market-linked debentures (MLDs), the benefits of long-term capital gains, similar to equities.
The biggest-ever bond issue by India's Housing Development Finance Corp is expected to go smoothly without any major increase in interest costs for the financier as long-term investors will likely absorb the sale, bankers said.
Barclays has docked the pay of some top executives by a combined 1 million pounds ($1.2 million) following regulatory missteps and a costly overissuance of billions of dollars worth of investment products in the United States.
British investment platform Hargreaves Lansdown reported a 31% jump in half-year profit on Wednesday, citing savers' efforts to boost returns in the face of a crippling cost of living crisis.
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