When Nikola Swann heard that Fitch Ratings had removed the United States from its list of risk-free borrowers this week, he felt a sense of satisfaction. “It was vindicating,” he says. More than a decade ago, Swann played a key role in a similar decision: He was Standard & Poor’s primary analyst for its sovereign … Read more
Federal Bank subsidiary Fedbank Financial Services (FedFina) is aiming to raise up to ₹1,400 crore through an Initial Public Offering (IPO) by the end of 2023, a top official at its promoter entity Federal Bank has said. The Non-Banking Finance Company (NBFC) arm of the South-based bank re-filed its Draft Red Herring Prospectus for an … Read more
Cullen Frost Bankers Inc. trimmed its stake in The J. M. Smucker Company (NYSE:SJM – Free Report) by 45.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,198 shares of the company’s stock after selling 4,251 shares during the period. Cullen Frost … Read more
David Solomon, Chairman and CEO, Goldman Sachs, participates in a panel discussion during the annual Milken Institute Global Conference at The Beverly Hilton Hotel on April 29, 2019 in Beverly Hills, California. Michael Kovac | Getty Images Entertainment | Getty Images Goldman Sachs is known as Wall Street’s top brand, a juggernaut employing some of … Read more
India, which is among the fastest-growing insurance markets in the world, is poised to emerge as one of the top six insurance markets by 2032. Backed by the government and with regulatory support, health insurance will continue to spearhead this growth. Nearly 20 per cent of Future Generali India Insurance Company’s gross direct premium income … Read more
Bank of Baroda’s (BoB) first-quarter standalone net profit jumped 88 per cent YoY to ₹4,070 crore, buoyed by a sharp rise in other income, including treasury gains, healthy growth in net interest income even as provisions towards bad, and standard loans went up. The public sector bank had reported a net profit of ₹2,168 crore … Read more
Moors & Cabot Inc. grew its position in shares of Vanguard Growth ETF (NYSEARCA:VUG – Free Report) by 15.5% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,974 shares of the company’s stock after buying an additional 265 shares during the quarter. Moors … Read more
When Nikola Swann heard that Fitch Ratings had removed the United States from its list of risk-free borrowers this week, he felt a sense of satisfaction. “It was vindicating,” he says. More than a decade ago, Swann played a key role in a similar decision: He was Standard & Poor’s primary analyst for its sovereign … Read more
Reliance General Insurance has raised ₹200 crore as equity capital from promoter Reliance Capital in order to bolster its financial strength and seize emerging opportunities in the general insurance sector. Shareholders of the general insurer approve the capital infusion, by way of issue of equity shares on a private placement basis, at the extraordinary general … Read more
Mutual of America Capital Management LLC lessened its stake in shares of Boyd Gaming Co. (NYSE:BYD – Free Report) by 2.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 62,826 shares of the company’s stock after selling 1,341 … Read more