Several European insurers recorded bumper first-half profits on Thursday, as customers burnt by a pandemic, war and a pick-up in natural catastrophes in recent years continue to face higher premiums on policies. Higher interest rates have also given insurance investment portfolios a boost, industry sources say. Germany’s Allianz (ALVG.DE), opens new tab beat forecasts with a 7.5% […]
A U.S. court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission said on Thursday. FTX drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to make its own risky […]
SKY Brasil’s parent company will launch a fintech in the South American nation initially targeting small businesses that work with the telecommunications firm, with a 1 billion real ($177.83 million) investment over the next two years, the groups said on Thursday. SKY Brasil is controlled by Grupo Werthein, a powerful Argentine holding company that also […]
Increased manufacturing capacity for Eli Lilly’s (LLY.N), opens new tab highly sought after weight-loss drug Zepbound drove the company to raise its annual sales forecast by $3 billion on Thursday, and its share jumped as much as 14%. Lilly also raised its 2024 profit forecast and said sales of Zepbound crossed $1 billion for the first time […]
German insurance group Allianz (ALVG.DE), opens new tab on Thursday posted a better than expected 7.5% rise in second-quarter net profit and said it was on track to meet its full-year target. Strength at the company’s property and casualty business balanced out claims resulting from natural catastrophes, it said, adding that third-party assets under management rose to […]
Russia and China may begin using barter trading schemes, three trade and payments sources told Reuters, with two expecting deals involving agriculture as soon as this autumn, as Moscow and Beijing try to limit using banking systems monitored by the United States. Bilateral payment delays were high on the agenda when President Vladimir Putin visited China in […]
Ripple Labs has been ordered by a Manhattan court judge to pay the U.S. Securities and Exchange Commission about $125 million in penalties over charges of improperly selling the cryptocurrency XRP, according to a court filing. Source: REUTER
Walt Disney (DIS.N), opens new tab said on Wednesday it may have to pay up to $5 billion more to buy Comcast’s (CMCSA.O), opens new tab minority stake in Hulu, if an appraiser were to agree with Comcast’s assessment that the stake should be valued at more than $40 billion. Earlier this year, Disney and Comcast hired investment bank […]
Morgan Stanley (MS.N), opens new tab said on Monday it had received requests from the enforcement division of the U.S. securities regulator regarding advisory account cash balances swept to affiliate bank deposit programs. The company said it was in talks with the U.S. Securities and Exchange Commission since April over the matter and compliance with the Investment […]
A federal appeals court on Tuesday said a Citigroup (C.N), opens new tab vice president was not entitled to a share of a $400 million civil fine that the bank agreed to pay in October 2020 over its risk management failures. The 2nd U.S. Circuit Court of Appeals in Manhattan said Tamika Miller did not show that her whistleblowing […]