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 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.
Bank of America and Citigroup have cut some investment banking jobs in Asia, people familiar with the matter told Reuters, joining global peers in paring headcount as China dealmaking slows.
U.S. firm Capital Group, one of the world's largest investment management companies which manages about $2.2 trillion in equity and fixed income assets, said the beating that markets took last year made it more bullish on long-term stock and bond returns.
Citigroup Inc is laying off less than 1% of its workforce, excluding its remediation team working on a consent order, people familiar with the matter said on Thursday.
Western Union will vastly expand a U.S. pilot program for money transfers to Cuba, it said on Thursday, opening retail locations across the 50 states and allowing for digital service through its website and mobile app.
