BNY (BK.N), opens new tab beat Wall Street’s expectations for second-quarter profit on Friday, as strong investment service fees more than offset lower interest income, sending the world’s largest custodian bank’s shares up more than 3% in premarket trading. The bank’s assets under management climbed 7% to $2.05 trillion from a year earlier, as more investors aimed […]
China and the Middle East have the potential to revitalise their historical link through financial collaborations, but more mutual understanding is needed, according to Wei Zhen, a managing director at MSCI. The index provider, which first included Saudi Arabian stocks in its Emerging Markets Index in 2019, has helped to put the kingdom on the […]
has agreed to be acquired by private-equity firm Bain Capital in a deal that values the wealth technology platform at $4.5 billion. Envestnet on Thursday said Bain will pay $63.15 a share, a 2.4% premium to Wednesday’s closing price of $61.70 for the Berwyn, Pa., company and is nearly 12% above Envestnet’s closing price of […]
Britain’s markets watchdog on Thursday paved the way for the biggest shake-up in three decades of rules for companies listing on the London Stock Exchange as it seeks to catch up with New York and the European Union post-Brexit. The regime, which aims to attract a wider range of listings by reducing red tape, is […]
Polar Capital (POLR.L), opens new tab on Thursday reported a 7% rise in assets under management to 23.5 billion pounds ($30.2 billion) in the quarter to end-June, boosted by net inflows of 644 million pounds and rising interest in funds managed by its emerging markets and Asian Stars teams. Chief Executive Gavin Rochussen said the inflows since […]
U.S. regional banks will probably stockpile more rainy-day funds and stay conservative on stock buybacks as losses from commercial real estate (CRE) loans are expected to pressure their earnings, analysts said. As regional lenders prepare to report second-quarter results next week, they continue to face tough scrutiny from investors over potential weakness from CRE and […]
As seen in the Ugandan newspaper, The Monitor, Uganda generated an additional Shs44 billion from oil tax revenues during the June 30, 2023 financial year. This figure contained in the Petroleum Fund Report for the period relayed that Uganda made a total of Shs125.9 billion in oil tax revenues, during the period under review, a 54% increase […]
The gap in returns between the S&P 500 and the index’s equal-weighted counterpart is at its widest in 15 years, underscoring the need to diversify beyond AI heavyweights such as Nvidia. The S&P 500 is at record levels mostly due to a handful of megacap stocks such as Microsoft (MSFT.O), opens new tab and Nvidia (NVDA.O), opens new […]
China’s Ping An Insurance is considering convertible bond sale worth up to $5 billion, according to two sources with direct knowledge of the matter. The bond sale could raise between $2 billion and $5 billion, according to one of the sources. A deal is expected in the next few weeks, the sources added. They could not be named discussing confidential information. In a Hong Kong Stock Exchange filing on […]
July 10 (Reuters) – BNP Paribas (BNPP.PA), opens new tab has entered into a comprehensive partnership agreement with Mistral AI, covering all its current and future commercial models, the French bank said on Tuesday. The deal, which expands a relationship that started in September, will see BNP Paribas implement Mistral AI’s large language models across multiple business […]