Commerzbank Forecasts Loss For 2020
Commerzbank said it expects to report a loss this year after it posted a 21% fall in second-quarter profit to EUR220 million, hit by sharply higher provisions.
Allianz Confident on Outlook
Allianz reported a fall in second quarter operating profit to EUR2.57 billion following weakness at its property-casualty business, but said it expected "a solid financial performance" for the rest of 2020.
Insurers Report Mixed Results From Covid-19
Two giant sellers of insurance to consumers-Allstate and Prudential Financial-reported results that reflected the far-ranging impact of Covid-19.
Blackstone Joins Clearlake and Insight in Backing Software Maker Diligent
Blackstone Group is joining investors in Diligent in a deal that values the maker of corporate-governance software at north of $4 billion.
RBC Seeks to Pump Up Its AI Models With a New Platform
Its new AI private cloud can analyze more than 13 million client records in under 20 minutes, the bank says.
Turkish Lira's Borrowing Cost Shoots Up on Offshore Markets
The interest rate attached to swapping dollars for lira reached 1,000%, traders said, as Turkey restricted access to a currency that was once a darling of emerging-market investors.
KKR Reports Second-Quarter Profit Amid Financial-Market Recovery
The result marked a rebound for the asset-management company after it logged a large first-quarter loss.
Beleaguered Public Pension Funds Make Record Gains in Second Quarter
Double-digit stock gains gave a welcome boost to investment returns of many public pension funds, yet many remain far off long-term targets.
AIG Results Look Grim but Represent Progress
The finalized sale of a legacy reinsurance unit generated huge accounting losses but is a necessary step in slimming and firming AIG's core business.
Manhattan Prosecutor Seeking Trump Taxes Says Request Is Justified
The Manhattan district attorney's office says it is justified in seeking financial documents from President Trump and his company as part of a complex investigation into alleged insurance and bank fraud.
