US states sue Warburg-owned Mariner Finance, alleging predatory lending

NEW YORK, Aug 16 (Reuters) – A lender owned by private equity firm Warburg Pincus LLC was sued on Tuesday by several US states, and accused of charging cash-strapped borrowers hundreds of millions of dollars for “hidden” add-on products that they never agreed to buy. Mariner Finance, with more than 480 offices in 27 states, … Read more

Skeptical on US stocks, equity hedge funds sit out market rally

The Wall St. sign is seen near the New York Stock Exchange (NYSE) in New York City, US, May 4, 2021. REUTERS/Brendan McDermid/File Photo Register now for FREE unlimited access to Register NEW YORK, Aug 16 (Reuters) – Still uncertain on where US stocks are headed, equity hedge funds are sitting out the market … Read more

Former Deutsche Bank co-CEO Anshu Jain dies

Aug 13 (Reuters) – Anshu Jain, a top finance executive best known for helping German lender Deutsche Bank AG (DBKGn.DE) take on the largest Wall Street firms, died overnight on Saturday after a five-year battle with cancer, his family said. He was 59. Jain, who was born in India, spent two decades building Deutsche Bank … Read more

Africa getting just 12% of financing needed to adapt to climate change – report

2020 finance flows $29.5 bn vs needed $250 bln Turns up pressure on rich countries ahead of COP27 Hurdles include infrastructure, skills, data LONDON, Aug 11 (Reuters) – Africa is getting just 12% of the finance it needs to manage the impact of climate change, a report on Thursday said, raising pressure on rich nations … Read more

Explainer: Britain and regulators square up over post-Brexit financial reform

LONDON, Aug 11 (Reuters) – Britain’s government proposed a far-reaching financial services law last month to exploit “freedoms” to write its own capital market rules since leaving the European Union. Approval of what is the biggest market reform in two decades is expected by May 2023. Liz Truss, the front-runner to become Britain’s next prime … Read more

Finance industry urged to hire more working class managers

Catherine McGuinness poses for a photograph in London, Britain, January 17, 2018. REUTERS/Hannah McKay Register now for FREE unlimited access to Register LONDON, Aug 11 (Reuters) – Financial services companies should set “stretching targets” for appointing people from working class backgrounds to senior positions, a UK government-sponsored report said on Thursday. The finance industry … Read more

Truss backs powers to override financial watchdogs, says FT

Conservative leadership candidate Liz Truss attends a hustings event, part of the Conservative Party leadership campaign, in Darlington, Britain August 9, 2022. REUTERS/Scott Heppell Register now for FREE unlimited access to Register LONDON, Aug 10 (Reuters) – Liz Truss, the front-runner to become Britain’s next prime minister, will give ministers powers to override financial … Read more

ECB, IMF call on climate standard setters to align company disclosures

Signage is seen outside the European Central Bank (ECB) building, in Frankfurt, Germany, July 21, 2022. REUTERS/Wolfgang Rattay/File Photo Register now for FREE unlimited access to Register LONDON, Aug 8 (Reuters) – A global standard setter for company climate disclosures should align with European and US alternatives for easier implementation across jurisdictions and to … Read more

Oil edges up as strong economic data feeds hopes for demand

FILE PHOTO – A oil field worker works at a pump jack in PetroChina’s Daqing oil field in China’s northeastern Heilongjiang province November 5, 2007. REUTERS/Stringer (CHINA) Register now for FREE unlimited access to Register HOUSTON, Aug 8 (Reuters) – Oil prices edged up on Monday, hovering near their lowest levels in months in … Read more

Berkshire CEO-designate Abel sells stake in energy company he led for $870 million

Gregory Abel, the CEO of Berkshire Hathaway Energy and who is designated to succeed Warren Buffett as Berkshire CEO, walks through the crowd at the first in-person annual meeting since 2019 of Berkshire Hathaway Inc in Omaha, Nebraska, US April 29, 2022. REUTERS/Scott Morgan Register now for FREE unlimited access to Register Aug 6 … Read more