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News Highlights: Top Financial Services News of the Day

08/12/2022 | 12:16am EST
SEC Investigating Melvin Capital Management 
 

The regulatory agency is asking about the hedge fund's risk controls and disclosures following meme-stock losses last year.

 
Inflation Boosts Brookfield's Assets 
 

Brookfield Asset Management Inc. said it has sold $21 billion worth of assets since the end of the first quarter and expects to exit more investments soon, as inflation makes its infrastructure holdings more attractive.

 
SoftBank Shares Gain on Plan to Preserve Cash by Cutting Alibaba Stake 
 

SoftBank Group Corp. shares rose sharply Friday on its plan to reduce stake in Alibaba Group Holding, a move that preserves cash at the Japanese tech-investment company.

 
IAG Returns to Profit on Strong Gross Written Premium Growth 
 

Insurance Australia Group returned to an annual net profit, but saw its reported insurance margin take a hit due to higher natural perils costs.

 
Zurich Insurance Beats Views, to Launch Buyback 
 

Zurich Insurance said it would launch a $1.9 billion buyback after its operating profit rose 25% in the first half, although the effects of volatile financial markets and the dollar's strength weighed on the company's bottom line.

 
Aegon Profit Falls But Lifts Outlook 
 

Aegon raised its full-year guidance for some financial targets, despite reporting a 4% drop in its operating result in the second quarter.

 
QBE Takes Measured Approach to Gross Written Premium Growth 
 

Australia's QBE Insurance Group is taking a measured approach to gross written premium growth as it makes a small increase to its guidance.

 
Tornado Cash Crackdown Shows Limits of Regulating Crypto Services 
 

The U.S. sanctioning of a prominent cryptocurrency platform exposes technical gaps in the government's ability to prevent criminals, national adversaries and extremist groups from using the services.

 
Benchmark Rate SOFR Has Caught On. But One Version Is Costing Companies More to Hedge 
 

A successor to the tainted Libor rate, SOFR is gaining wide acceptance. Its term version can help businesses forecast cash, but it can cost more to hedge than the overnight rate due to restrictions on banks.

 
Crypto's Collapse Deals New Challenge for Regulators in Singapore 
 

The implosions of digital currencies and players rooted in Singapore complicate the Southeast Asian city-state's plans to become a crypto hub.


(END) Dow Jones Newswires

08-12-22 0015ET

Stocks mentioned in the article
ChangeLast1st jan.
AEGON N.V. -0.27% 4.718 Real-time Quote.7.69%
ALIBABA GROUP HOLDING LIMITED 4.79% 90.06 Delayed Quote.-27.65%
BROOKFIELD ASSET MANAGEMENT INC. -3.22% 60.75 Delayed Quote.-17.83%
INSURANCE AUSTRALIA GROUP LIMITED -1.46% 4.71 Delayed Quote.12.21%
INTERNATIONAL CONSOLIDATED AIRLINES GROUP, S.A. 0.87% 134.12 Delayed Quote.-6.68%
MSCI SINGAPORE (GDTR) -0.77% 5693.85 Real-time Quote.-8.91%
QBE INSURANCE GROUP LIMITED -0.23% 12.92 Delayed Quote.14.10%
SOFTBANK GROUP CORP. 0.13% 6055 Delayed Quote.11.28%
TOP FINANCIAL GROUP LIMITED 2.96% 4.87 Delayed Quote.0.00%
ZURICH INSURANCE GROUP LTD -0.82% 450 Delayed Quote.13.31%
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