The U.S. Securities and Exchange Commission on Friday proposed drastically raising disclosure requirement thresholds for institutional investors from $100 million to $3.5 billion, in a move the agency said would reduce regulatory burdens for smaller money managers.
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.
Consumers could face added pressure to settle debts in a future economic downturn as higher volumes of debt are turned over to collectors and alternatives for handling delinquencies remain scarce, the Consumer Financial Protection Bureau said Friday.
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.
A two-year-old effort to increase parity between new customer premiums and renewal premiums in the British insurance industry has thus far been successful, two trade groups said Friday, nine months after a financial regulator expressed concerns about insurance pricing.
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.
California state lawmakers on Thursday introduced legislation to establish a public bank, an institution proponents argue would support the state’s push for equitable economic recovery following the coronavirus crisis.
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.
Corporate America’s flight from offices isn’t expected to be permanent, but if the transition to remote working becomes more entrenched, commercial-backed mortgage securities could seek a dramatic surge in default risk, Moody’s said in a new report 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.