Dai-Ichi Life invests in first bond tied to reducing plastic waste

Dai-Ichi Life, Japan’s third-largest life insurer by revenue, said Tuesday that it purchased in the first-ever bond tied to goals for reducing plastic waste, helping the carrier fulfill its sustainability initiatives.

Vanguard shifts expenses for $1.9 billion municipal money market fund as yield slips

Vanguard Asset Management temporarily reallocated expenses for a municipal money market fund worth nearly $2 billion in an attempt to prevent the yield dropping to negative, a company spokesperson said Tuesday.

Ex-JPMorgan forex trader’s conviction upheld by New York judge

A federal judge on Monday upheld a former JPMorgan foreign exchange trader’s conviction for trying to manipulate emerging market currency prices, rejecting his request to set aside a jury’s findings.

FNZ to acquire majority stake in State Street’s wealth manager services unit

State Street Corporation will hand over a controlling interest in its wealth manager services business to financial technology company FNZ in order to form a joint venture to meet growing interest in personalized servicing, the companies said Tuesday.

UBI Banca doubles down on rejection of Intesa’s takeover bid

Unione di Banche Italiane on Tuesday fired back at larger rival Intesa Sanpaolo, further escalating the tension between the two banks over the latter’s takeover bid, saying once again that the offer does not sufficiently benefit the smaller institution’s shareholders.

Sun Life expands sustainability options with new ESG framework

To keep members informed of sustainable investing options, Sun Life’s Group Retirement services has debuted a proprietary Environment, Social and Governance evaluation framework, the insurer said Tuesday.

CFPB nixes mandatory underwriting requirements for small-dollar lending, drawing criticism

The U.S. Consumer Financial Protection Bureau on Tuesday rescinded underwriting requirements established to prevent lenders from issuing small-dollar loans to customers without first assessing their ability to repay.

More than 100 investors said to be interested in buying parts of Wirecard

Wirecard’s administrator reportedly said Tuesday more than 100 investors were interested in acquiring parts of the German payments firm, which filed for insolvency last month after a sprawling accounting scandal was revealed.

PNC appoints new executive committee members, unveils chief corporate responsibility job

Pittsburgh-based PNC Financial Services added Carole Brown and Richard K. Bynum to its executive committee on Tuesday, bringing new leadership to its asset management unit and creating a company-wide corporate responsibility post in the process.

Axis leans into auto financing as Indian sales slow to a crawl

Axis Bank will provide new financing options for customers of car producer Maruti Suzuki India through the end of this month, becoming the latest prominent private lender there to cater to potential auto industry customers who aren’t buying due to the coronavirus pandemic.

UAE banking system remains ‘strong’ with ample liquidity, central bank says

The banking system of the United Arab Emirates entered 2020 on strong footing, with capital ratios and liquidity buffers well above regulatory requirements, according to a report released Tuesday by the Middle Eastern nation’s central bank.

Deutsche Boerse debuts data-heavy A7 analytics platform

German exchange and market technology network Deutsche Boerse rolled out a new analytics platform, A7, to provide investors and algorithm designers with “nanosecond-precise” data on its Xetra and Eurex trading platforms.

CoreLogic rejects $7B ‘opportunistic’ takeover bid by Cannae, Senator

CoreLogic’s board on Tuesday unanimously rejected a $7 billion acquisition bid from Cannae Holdings and Senator Investment Group, while the investment firms hit back with threats to call a special meeting of the board by July 28.

Gold-based fintech receives license to transmit payments in Arizona

A company seeking to compete with the U.S. dollar by creating a gold-based digital payment service has been granted a money transmitter license in Arizona, one of several states where gold is considered legal tender.

NYSE raises $76.2B in capital in first half of 2020 as exchange leads in IPOs, SPACs

Companies listed on the New York Stock Exchange raised $76.2 billion in the first six months of the year, up 24 percent from the same period in 2019, while initial public offerings and the use of special purpose acquisition vehicles also grew.

Banking, lender trade groups urge FCC to lighten robocall restrictions

Banking and lending trade groups asked the Federal Communications Commission to ease intended restrictions against robocalls, arguing that they go too far and could impair use of those methods for legitimate business purposes.

Santander, Mapfre team up to jointly sell non-life insurance in Portugal

Banco Santander, Spain’s largest bank by assets, will sell non-life insurance policies from Mapfre through its network in Portugal, giving it an additional source of income to pad against potential shocks from the COVID-19 pandemic.

De Goudse to acquire Reinsurance Group of America’s Dutch life unit

Netherlands-based insurance company De Goudse has agreed to purchase a Dutch life insurance subsidiary of Reinsurance Group of America, the companies said Tuesday, as part of De Goudse’s yearslong strategy to acquire life portfolios and companies.

National Bank of Canada doubles down on fintech as banks rush to boost digital investing features

Montreal-based National Bank of Canada is expanding its collaborative position in Canadian fintech Nest Wealth with an additional strategic investment, speeding up efforts to introduce new digital features for independent brokers on its platform.

HSBC to cut 38% of global banking jobs in France

London-based HSBC plans to cut 255 jobs from its French subsidiary’s struggling global and banking markets division, HSBC France’s Force Ouvrière union said Monday, marking the first time that HSBC France has seen economic layoffs.

About Us · Terms of Use

Copyright © 2020 Fastinform, Inc.