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 »
(Reuters) – Asset manager Blackrock said on Tuesday that it has increased its strategic overweight on equities, as an early-2022 selloff created “compelling opportunity.” “We see the combination of low real rates, strong growth and reasonable valuations as favourable for the asset class,” Blackrock said in its weekly market commentary. “Incorporating climate change in our …
Blackrock increases its strategic overweight on equities Read More »
(Reuters) -Apollo Global Management Inc, a manager of alternative assets such as corporate credit and private equity, said on Tuesday it has committed more than $100 million over the next decade to a new foundation run by the firm’s employees that will provide grants to organizations focused on economic opportunity. The foundation will partner with …
Private equity firm Apollo launches $100 million foundation Read More »
By Valentina Za, Pamela Barbaglia and Elisa Anzolin MILAN (Reuters) – Oaktree has hired Morgan Stanley to sell a stake in Banca Progetto in a deal that could value the challenger bank at up to $565 million, one of the biggest transactions in Italy’s blooming digital bank industry, sources told Reuters. The U.S. investment firm …
Oaktree hires Morgan Stanley to find investor in Italy’s Banca Progetto – sources Read More »
(Reuters) – Global oil benchmark Brent crude could rise by $5-$20 a barrel depending on the severity of the Russia-Ukraine crisis, Bank of America (BofA) Global Research said on Tuesday, adding that prices could drop by $2-$4 if tensions de-escalate. Oil hit its highest since 2014 on Tuesday, with Brent futures reaching $99.50 a barrel …
Oil could jump by $20 if Ukraine crisis worsens, says BofA Read More »
By Jamie McGeever ORLANDO, Fla. (Reuters) -Another week, another big win for hedge funds betting on a flatter U.S. yield curve. Futures market data for the week through Feb. 15 show that funds’ extending their bets on a narrower gap between two- and 10-year yields coincided with one of the most dramatic 24-hour periods at …
Funds win again with U.S. curve flatteners: McGeever Read More »
