Ratings agency Moody's on Monday downgraded several mid-sized U.S. banks, warning that the credit strength of lenders will likely be tested by funding risks and weaker profits.
U.S. regulators on Tuesday said they had settled with more than a dozen financial firms, including Wells Fargo and some foreign banks, over charges of widespread recordkeeping failures, including in some cases the use of personal text messages and other messaging apps.
Financial firms that enforce strict return-to-office mandates could drive employees to leave, according to a study published Tuesday by accounting firm Deloitte.
Italy is the latest European country to hit banks with a windfall tax in a surprise move on their profits, which have been bolstered by interest rate rises, to help mortgage holders.
David Kurtz, Lazard Ltd's global head of restructuring, has agreed to join Hilco Global, the financial advisory firm that helps failing retailers liquidate told Reuters.
Australia's third largest pension fund will stay active in Japanese markets in the coming months and is neutral about China despite growing investor aversion to the country's markets, a senior executive said on Tuesday.
Fund manager abrdn's shares fell nearly 9% on Tuesday after it reported a drop in assets under management in the first half of the year as Britain's economic chills weighed on markets and investor sentiment.
Japan's SoftBank Group posted a surprise loss but said it was dipping its toes back into new investments after its Vision Fund unit returned to the black for the first time in six quarters.
South Africa's Nedbank Group , amongst the top five lenders in the country, warned on Tuesday that its bad loans would stay elevated for the rest of the year and it could miss its 2025 financial targets.
Australia's biggest banks are likely to report narrower profit margins in the June quarter as an unprecedented pace of interest rate hikes to curb inflation starts to weigh on the economy, while investors will be watching for signs of rising bad debt.
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