South African lender Nedbank on Tuesday warned that consumers in Africa's most industrialised nation were coming under pressure as higher interest rates and inflation are intensified by local economic conditions.
Canada's Manulife Financial Corp plans at least two more top-tier hires in China this month as it targets the pensions business in the fast-ageing society after taking full control of a joint venture, senior executives said.
The European Central Bank should raise interest rates by 50 basis points at each of its next four meetings as inflation is proving to be stubborn, Austrian central bank chief Robert Holzmann told German business daily Handelsblatt.
Britain's proposals to loosen capital rules for insurers will increase the chances of an insurance company failing by 20% in a given year, the Bank of England has told lawmakers, reiterating its caution over the government's plan.
Private equity firms that have for years capitalized on the regulatory woes of banks by becoming lenders to risky leveraged buyouts are doing less business just as higher interest rates have made that practice more lucrative.
A local banking foundation that invested in Monte dei Paschi's new share issue last year said on Friday it had no plans to sell the stake it built under efforts to make the lender part of a larger banking group.
The reward for holding U.S. stocks over Treasury bonds has not been this unattractive since 2004, possibly setting the stage for the sought-after 60/40 portfolio diversification to make a comeback after one of its worst years on record.
The Reserve Bank of India said on Friday it had imposed a penalty of 30.7 million rupees ($374,770) on Amazon Pay Private Ltd for non-compliance with directions on prepaid payment instruments and Know Your Customer (KYC) rules.
European buyout houses Montagu Private Equity and Astorg Partners are preparing to hang the "for sale" sign on their UK insurance software investments, hoping to woo insurers and fellow private capital funds with their technology.
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