Reuters US Money Archives - Page 99 of 106

Former ANZ unit fined $4.3 million for “inappropriately” advising clients

3 Feb 2022 3 Feb 2022

(Reuters) -An Australian court has ordered RI Advice Group Pty Ltd, a former unit of Australia and New Zealand Banking Group, to pay A$6 million ($4.28 million) in penalty for “inappropriately advising clients”, the country’s securities regulator said on Thursday. The action relates to a case where the Australian Securities & Investments Commission (ASIC) alleged …

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Julius Baer upbeat on client activity despite slower second half

2 Feb 2022 2 Feb 2022

By Brenna Hughes Neghaiwi ZURICH (Reuters) -Julius Baer remained upbeat on Wednesday about a pickup in client activity despite reporting a slowdown in the latter half of 2021, which raised some concerns about its outlook going forward. Despite reporting 55% full-year profit growth and a significant uplift to proposed shareholder payouts, shares fell 6.1% in …

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UBS CEO expects more local bank consolidation than European deals

1 Feb 2022 1 Feb 2022

ZURICH (Reuters) – UBS Chief Executive Ralph Hamers said on Tuesday he expects to see more local mergers and acquisitions than cross-border consolidation in the European banking industry. “Cross-border mergers in banks have only worked to a certain extent,” Hamers said after the bank’s fourth-quarter results, adding that the capital and liquidity benefits involved had …

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Spanish bank Ibercaja postpones IPO due to market volatility

1 Feb 2022 1 Feb 2022

MADRID (Reuters) -Spanish bank Ibercaja has postponed an initial public offering (IPO) because of the volatility in international markets, the bank said on Tuesday in a filing to the Madrid market regulator. Ibercaja’s board “agreed to wait until the markets return to a situation of normality before continuing with its IPO,” the bank said. A …

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SocGen and ING in talks over using SocGen’s Boursorama for ING retail customers

1 Feb 2022 1 Feb 2022

PARIS (Reuters) -French bank Societe Generale and Dutch rival ING said they were discussing the possibility of serving ING’s online banking customers in France via SocGen’s Boursorama, after ING’s decision to quit the French market. “Following ING’s decision to exit the French retail banking market, Societe Generale announces that Boursorama has signed a Memorandum of …

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Australia’s Boral to return A$3 billion to shareholders, shares rise

1 Feb 2022 1 Feb 2022

(Reuters) – Building material maker Boral Ltd will return A$3 billion ($2.12 billion) to its shareholders using mostly proceeds from the sale of several North American businesses that helped it refocus on the domestic market. Shares of the Australia-listed company rose 6.8% to A$6.27 in the biggest intraday percentage gain since June 2021. The cash …

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Czech billionaire set to accept Aareal takeover offer – source

31 Jan 2022 31 Jan 2022

BERLIN (Reuters) – Czech billionaire Daniel Kretinsky is set to accept a takeover offer for Germany’s Aareal Bank from three financial investors, according to a source. The buyout group, which includes United States-based Advent International, Canadian pension fund CPPIB and Centerbridge Partners, reported an acceptance rate of 26.99% on Monday. That includes a call option …

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NextEnergy Capital raises record $896 million for solar infrastructure fund

31 Jan 2022 31 Jan 2022

By Simon Jessop LONDON (Reuters) – NextEnergy Capital said on Monday it had raised a record $896 million for its NextPower III ESG fund, focused on solar infrastructure investments in OECD countries – its biggest private fund to date. While larger solar-focused funds may exist with a more restrictive geographic focus, the firm said its …

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Norway wealth fund earns second-highest return in 2021

27 Jan 2022 27 Jan 2022

By Victoria Klesty OSLO (Reuters) -Norway’s sovereign wealth fund, the world’s largest, earned a return on investment of 1.58 trillion Norwegian crowns ($177 billion) last year, the second highest on record, with the biggest boost coming from tech stocks, it said on Thursday. The $1.3 trillion fund’s return on investment stood at 14.5% for the …

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Bank of Canada signals hikes coming soon, leaves key interest rate unchanged

26 Jan 2022 26 Jan 2022

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – The Bank of Canada will soon starting hiking interest rates from record lows to combat inflation, Governor Tiff Macklem announced on Wednesday, saying the economy no longer needed help to deal with the effects of the COVID-19 pandemic. Macklem spoke after the central bank surprised some …

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