Credit Suisse is preparing to lay off half of its mainland China investment banking team, according to Chinese business publication Caixin, after saying earlier this week it is looking to fully acquire its Chinese securities joint venture and expand its presence in the market.
Itaú CorpBanca Chile, Chile’s fifth-largest private-sector bank, on Thursday revealed an impairment charge of about CLP 764 billion ($964 million), a sum likely to scrap the lender’s 2020 profit.
Bulgaria and Croatia were accepted into a waiting room to the eurozone on Friday, as European Union officials agreed to put the countries on a path to adopt the euro as an official currency as early as 2023.
Banco Bilbao Vizcaya Argentaria said Friday that it issued a GBP 300 million bond (nearly $379 million) in order to improve its capital position to meet a European Union rules change.
Group health plans given grandfather status under the Affordable Care Act will have new options to preserve their exemptions, even if they pass along more costs to consumers, under a new rule proposed by federal regulators on Friday.
HSBC said Thursday that a digital version of the Chinese yuan, which it suspects will launch soon, could improve China’s payment systems and put the nation at the forefront of digital currency development.
Ohio-based insurer State Auto Financial on Thursday extended CEO Mike LaRocco’s employment agreement for an extra year, as the superregional carrier seeks a return to stability and profitability amid pandemic-related disruption.
AM Best has placed Pennsylvania-based Erie Insurance Group and its subsidiaries on a negative credit outlook, citing lagging underwriting performance due to weather-related losses, the ratings agency said Friday.
London-based financial and insurance firm Legal & General wants to see the U.K. implement stringent efficiency standards and emission targets for the country’s buildings during the country’s post-pandemic economic recovery.
An entity owned by EQT’s infrastructure fund reached a new deal to acquire a leading New Zealand retirement village operator, agreeing to pay $854 million, after having scrapped an earlier bid due to the COVID-19 pandemic.
Admiral Insurance has begun selling travel insurance with specific provisions related to COVID-19, after a four-month hiatus in the business, as the United Kingdom eases quarantine requirements, making travel abroad less cumbersome.
Chinese new bank lending soared to a record CNY 12.09 trillion ($1.72 trillion) in the first half of 2020 as China sought to recover from pandemic-related shutdowns, according to data released Friday by the country’s central bank.
Amundi introduced three new exchange-traded funds aimed at the European Union’s Paris Climate Agreement-based targets, the French asset manager with EUR 1.5 trillion ($1.7 trillion) in assets under management said on Thursday.
China’s central bank has sold some of its stake in India’s Housing Development Finance Corporation amid rising tensions between the world’s two most populous countries.
Funds and accounts managed by T. Rowe Price led a $2.5 billion investment round for Tesla rival Rivian, the startup said Friday, as investors chase the electric car hype.
The Australian Securities Exchange said Thursday that it will be extending its temporary emergency relief measures through the end of November in order to continue to support the Australian economy during the ongoing COVID-19 pandemic.
Amsterdam-based ING Group said Friday it will close about a quarter of its bank branches in the Netherlands as lockdown measures aimed at containing the coronavirus outbreak have hastened the adoption of online banking.
Brokerage firm BTIG said Friday it expects its U.S. employees to continue working remotely for the rest of the year, joining the ranks of employers who say their staff have adjusted to the new normal and prefer to play it safe as transmission rates spike in parts of the country.
Franklin Templeton’s Canadian arm said on Friday that it will shutter the Canadian dollar hedged version of Franklin Liberty Senior Loan ETF (the ticker symbol is FLSL), with the closure set to be completed in September.
Marqeta, a fintech that provides a platform for card issuers and whose backers include Visa and Goldman Sachs, is exploring an initial public offering, Reuters reported on Thursday.