FRANKFURT (Reuters) -Swiss Re swung to a smaller-than-expected full-year profit in 2021, the reinsurance company said on Friday, marking a partial rebound from the coronavirus pandemic despite big claims from natural disasters. Profit was dragged down by COVID-19 losses at its life and health reinsurance division due to an increase in deaths in the United …
Swiss Re swings to 2021 profit but still feels pandemic effect Read More »
By Svea Herbst-Bayliss (Reuters) – Hedge fund Sachem Head Capital Management has taken a stake in Anaplan Inc and may decide to press the business planning software company to make changes, two sources familiar with the matter told Reuters. The position is said to be comprised of common shares and cash settled swaps, putting Sachem …
Exclusive-Sachem Head built stake in Anaplan, may push for changes Read More »
(Reuters) – Morgan Stanley said on Thursday U.S. regulators and prosecutors were probing various aspects of the investment bank’s block trading business. The disclosure in a regulatory filing follows reports that the U.S. Securities and Exchange Commission (SEC) is probing whether financial executives may have broken rules by tipping off hedge funds ahead of large …
Morgan Stanley discloses investigation into block trading business Read More »
By Chris Taylor NEW YORK (Reuters) – Sarah Crane is part of a booming proportion of the housing market: solo buyers. The 39-year-old economist purchased an attached row house in Philadelphia by herself in April 2020. Move over, couples. Single females now comprise 19% of buyers, according to data from the National Association of Realtors. …
Single and looking: The rise of the solo American homebuyer Read More »
By Davide Barbuscia NEW YORK (Reuters) – Dimensional Fund Advisors, a pioneer of quantitative investment with $680 billion in assets under management, has increased exposure to the short end of the U.S. Treasury curve and to corporate debt, an executive said, seeing opportunities in parts of the debt market that have broadly sold off this …
‘Contrarian’ quant giant Dimensional focuses on U.S. curve short end, corporate debt Read More »
PARIS (Reuters) -Axa reported a profit on Thursday that more than doubled from last year, with the French insurer recovering from pandemic-related claims during the peak of the COVID-19 crisis. The company, Europe’s second-biggest insurer after Allianz, said it expected underlying earnings per share to grow at the high end of its 3% to 7% …
France’s Axa doubles 2021 profit, raises financial goals Read More »
By David Henry NEW YORK (Reuters) – Citigroup executives will lay out detailed plans for generating better returns and address concerns over expenses at a shareholder meeting next month which analysts and investors say could determine its future. The bank will set new targets for return on tangible common equity, a key measure of profitability, …
Citigroup readies wide-ranging plan to win over skeptics Read More »
SAO PAULO (Reuters) – Brazilian shoemaker Alpargatas has raised 2.49 billion reais ($492 million) in a planned follow-on share offering, a securities filing showed. Investment firm Itausa, which was already one of Alpargatas’ controlling shareholders, said on Wednesday it took part in the offering by acquiring 30.38 million shares. Alpargatas sold 37.5 million common shares …
Brazilian shoemaker Alpargatas raises $492 million in share sale Read More »
SAO PAULO (Reuters) -Brazilian rental car firms Localiza and Unidas, formally known as Companhia de Locacao das Americas, are close to selling assets to win approval from antitrust watchdog Cade for their merger, newspaper O Estado de S. Paulo reported on Wednesday. The assets could fetch around 4 billion reais ($791 million) and the sale …
Localiza, Unidas close to assets sale to win merger approval -report Read More »
FRANKFURT (Reuters) -German reinsurance group Munich Re on Wednesday forecast a 14% jump in profit this year as it reported a bounceback in 2021 from the coronavirus pandemic despite big claims from natural disasters. Marked by devastating hurricanes and cold snaps in the United States, 2021 was one of the costliest ever for the world’s …
Munich Re forecasts 2022 profit lift after pandemic rebound Read More »
