Commuters wearing masks are seen walking out of and towards Flinders Street Station in Melbourne, Australia, Oct. 28, 2020. (AP Photo/Asanka Brendon Ratnayake)
Commuters wearing masks are seen walking out of and towards Flinders Street Station in Melbourne, Australia, Oct. 28, 2020. (AP Photo/Asanka Brendon Ratnayake)Australian insurance companies will likely continue to see depressed earnings and slow premium growth this year as the COVID-19 pandemic and extreme weather dampen economic conditions, according to Fitch Ratings.

The skyline of downtown Boston, Massachusetts, where private equity firm Bain Capital is based. (Photo by Jenny Cvek on Unsplash)
The skyline of downtown Boston, Massachusetts, where private equity firm Bain Capital is based. (Photo by Jenny Cvek on Unsplash)Executives at Bain Capital during a conference call Friday highlighted “significant improvements” in finances that would prepare it for strong future performance, even as the U.S. private equity firm’s investment activity fell to its lowest in years during the pandemic.

The Goldman Sachs trading post on the floor of the New York Stock Exchange in August 2014. (AP Photo/Richard Drew, File)
The Goldman Sachs trading post on the floor of the New York Stock Exchange in August 2014. (AP Photo/Richard Drew, File)Goldman Sachs leaders are building “ample and incremental confidence” in the investment bank's ability to meet performance targets set in January despite the COVID-19 pandemic’s economic disruption, Chief Operating Officer John Waldron said at a virtual conference on Thursday.

The sun sets behind the city skyline in Boston, Friday, Nov. 22, 2019. (AP Photo/Michael Dwyer)
The sun sets behind the city skyline in Boston, Friday, Nov. 22, 2019. (AP Photo/Michael Dwyer)Private equity firm Bain Capital sank only $30 million of new money into portfolio of companies during the third quarter, nearly 90% less than the same period last year, as the COVID-19 pandemic continued to disrupt markets.

The logo sign of Natixis, a French corporate and investment bank created in November 2006 from the merger of the asset management and investment banking operations of Natexis Banque Populaire (Banque Populaire group) and IXIS (Groupe Caisse d'Epargne), is pictured on a building, in Paris. (AP Photo/Francois Mori)
The logo sign of Natixis, a French corporate and investment bank created in November 2006 from the merger of the asset management and investment banking operations of Natexis Banque Populaire (Banque Populaire group) and IXIS (Groupe Caisse d'Epargne), is pictured on a building, in Paris. (AP Photo/Francois Mori)French investment bank Natixis said one of its units will exit London-based H2O Asset Management after being the firm’s majority owner since its founding in 2010, following controversy over the disclosure of investments in hard-to-sell bonds.

A time-lapse photo of downtown Atlanta, Georgia, where Invesco is based. (Photo by Joey Kyber on Unsplash)
A time-lapse photo of downtown Atlanta, Georgia, where Invesco is based. (Photo by Joey Kyber on Unsplash)Invesco said Thursday that it is expanding its board of directors by three seats and bringing in two top executives of Trian Partners, as the activist investment firm looks to steer Invesco into a merger with a competitor.

A Citibank sign in New York. (AP Photo/Mark Lennihan)
A Citibank sign in New York. (AP Photo/Mark Lennihan)Citigroup will manage newly sold securities in the U.S. for Chinese lender Lufax, which made its American exchange debut by raising $2.36 billion, the New York-based bank said on Monday.

An investor checks stock prices through his smartphone at a brokerage house in Beijing, China, Dec. 20, 2019. (AP Photo/Andy Wong)
An investor checks stock prices through his smartphone at a brokerage house in Beijing, China, Dec. 20, 2019. (AP Photo/Andy Wong)Guotai Junan Securities completed the first securities lending transaction through China’s reformed qualified foreign institutional investor program, a step the country has taken to further open up its financial markets.

Red warning lights shine on the building of the European Central Bank in Frankfurt, Germany, early Monday, Oct. 5, 2020. (AP Photo/Michael Probst)
Red warning lights shine on the building of the European Central Bank in Frankfurt, Germany, early Monday, Oct. 5, 2020. (AP Photo/Michael Probst)Stablecoins, an emerging type of digital currency, will likely threaten Europe’s monetary authority, finance markets and consumer safety without proper regulation, a board member of the European Central Bank warned.

In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)
In this Aug. 16, 2019, file photo, the logo for JPMorgan Chase & Co. appears above a trading post on the floor of the New York Stock Exchange in New York. (AP Photo/Richard Drew, File)JPMorgan may face a monetary penalty from U.S. regulators for faults in its internal rules and procedures, the bank said on Monday in a regulatory filing, one month after it paid a record settlement in a spoofing probe.

A collection of 500 Hong Kong dollar bills. (Photo by Macau Photo Agency on Unsplash)
A collection of 500 Hong Kong dollar bills. (Photo by Macau Photo Agency on Unsplash)Seven major banks placed their first transactions between two blockchain trade-finance platforms in Hong Kong and China, with the intent of simplifying the infrastructure for international trade.

A branch office of China Pacific Insurance. (Shwangtianyuan/Creative Commons)
A branch office of China Pacific Insurance. (Shwangtianyuan/Creative Commons)China Pacific Insurance, China’s fourth-largest insurance company by net premiums written, posted a weakened bottom line in its third-quarter earnings report on Monday despite the country’s economic recovery following the COVID-19 pandemic.

In this Aug. 2, 2019 file photo, people walk by the logo of Toyota at a show room in Tokyo. (AP Photo/Eugene Hoshiko, File)
In this Aug. 2, 2019 file photo, people walk by the logo of Toyota at a show room in Tokyo. (AP Photo/Eugene Hoshiko, File)Four Japanese financial institutions and automaker Toyota will establish a new fund to support the country’s manufacturing sector through the COVID-19 pandemic, the companies said Monday.

A woman walks past the Reserve Bank of Australia in Sydney, Australia, March 19, 2020. (AP Photo/Rick Rycroft)
A woman walks past the Reserve Bank of Australia in Sydney, Australia, March 19, 2020. (AP Photo/Rick Rycroft)Australia’s central bank recruited a team that includes major banks and a blockchain company to create and test a prototype central bank digital currency, in the country’s biggest step yet in pursuing the emerging payment technology.

Hamilton, Bermuda (Mfdii, Wiki Commons)
Hamilton, Bermuda (Mfdii, Wiki Commons)Specialty insurance and reinsurance carrier Argo Group will no longer provide policies for the retail and grocery markets, the Bermuda-based firm said Thursday, as it continues to hunt down insufficiently profitable units.

Intuit CEO Sasan Goodarzi and Credit Karma Founder and CEO Kenneth Lin seen at Intuit Headquarters on Thursday, Feb. 20, 2020 in Mountain View, Calif. (Alison Yin/AP Images for Intuit)
Intuit CEO Sasan Goodarzi and Credit Karma Founder and CEO Kenneth Lin seen at Intuit Headquarters on Thursday, Feb. 20, 2020 in Mountain View, Calif. (Alison Yin/AP Images for Intuit)Personal-finance firm Credit Karma is in talks to sell its tax-preparation unit Square to ease federal antitrust concerns over its pending $7.1 billion buyout by TurboTax operator Intuit, The Wall Street Journal reported Friday.

The North American pet-insurance market — dominated by the U.S. — surpassed $1.72 billion last year, according to the North American Pet Health Insurance Association. (Photo by Alvan Nee on Unsplash)
The North American pet-insurance market — dominated by the U.S. — surpassed $1.72 billion last year, according to the North American Pet Health Insurance Association. (Photo by Alvan Nee on Unsplash)Aflac will acquire about 9% of pet insurer Trupanion as part of an agreement to sell policies in U.S. worksites, the companies said on Thursday in a joint statement, as the pet insurance market continues to expand.

AllianceBernstein LP President and CEO Seth Bernstein, left, shakes hands with state Rep. Brenda Gilmore as Tennessee Gov. Bill Haslam looks on at the state Capitol in Nashville. (AP Photo/Jonathan Mattise)
AllianceBernstein LP President and CEO Seth Bernstein, left, shakes hands with state Rep. Brenda Gilmore as Tennessee Gov. Bill Haslam looks on at the state Capitol in Nashville. (AP Photo/Jonathan Mattise)AllianceBernstein said Thursday it will hold itself and its suppliers to stricter criteria on climate change and unethical labor practices, joining a steady trend of institutional investors imposing new ethical standards.

St. Petersburg, Florida. (Cyraan/Creative Commons)
St. Petersburg, Florida. (Cyraan/Creative Commons)Raymond James is focusing on curbing risk and expenses despite reporting record quarterly revenues and assets under management, with uncertainty over COVID-19 remaining top-of-mind for executives.

An electronic screen displays a listing for AXA Equitable Holdings in New York. (AP Photo/Mark Lennihan)
An electronic screen displays a listing for AXA Equitable Holdings in New York. (AP Photo/Mark Lennihan)Life insurer Equitable Holdings said on Tuesday that it agreed to reinsure $12 billion of its old variable-annuity policies with Venerable as it looks to “de-risk” its operations and move away from capital-intensive business lines.