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...“Not a single one of the clients who are in these funds would pay these rates for any other type of insurance, certainly not term [life] insurance,” she points out....
...A version of this article was first published by Nikkei Asia on July 19. ©2022 Nikkei Inc. All rights reserved....
...Reach out to me (imani.moise@ft.com) or Sid (sid.v@ft.com) to let us know. Happy reading!...
...The AMCs branched out into banking, leasing, securities, futures, trust services, insurance and shadow banking to boost their incomes, but this has caused trouble....
...The status of the workers who provide the services offered by so-called gig economy companies such as Uber has been a point of contention for many years....
...The law was repealed in 1999 under president Bill Clinton, paving the way to the megamergers of the early 2000s during which a whole host of banking services were offered under one roof....
...The second is that the industry as a consequence has long depended on auxiliary services — such as insurance, fuel surcharging and catching customers out on T&Cs — for profitability....
...The insurance, savings and investments group could be Miss Conviviality without a heftily-built annuities division in tow....
...US court told PwC cut corners in Colonial audit Control+C, Control+V....
...But their Wall Street dependence makes online lenders bear more than a passing resemblance to traditional finance companies such as Household and Countrywide Financial....
...V&A’s robot-made web London’s Victoria and Albert Museum, has launched a season of exhibitions and events focused on the “unsung role” of engineering in society....
...Silicon Valley may have an image as a haven of libertarianism but some are surprisingly keen on the idea of greater social insurance — such as a “citizen’s” or “basic” income — to be funded by a digital...
...Zurich Insurance has decided against returning capital to shareholders after operating profits fell 37 per cent fell to $2.9bn last year, following mishaps in its general insurance division and restructuring...
...In 2008, both stepped in: JPMorgan bought the ashes of Bear Stearns and Washington Mutual, while BofA bought failing mortgage lender Countrywide and brokerage Merrill Lynch....
...Potts, a leading company law advocate, drew attention to the famous case of Carlill v Carbolic Smoke Ball Company....
...(Financial Times) In response to regulation, Goldman ditching less profitable clients and changing rules for hedge funds (WSJ) Argentina v holdouts: plus ça change (Financial Times) Espírito Santo: the...
...Quarterly results were slightly weaker than expected, with service revenue slowing and profitability squeezed in Germany, Italy and Spain....
...Compliance and Legal Services teams closely monitor legal reforms to ensure any required changes are made....
...BofA had claimed it was owed insurance payouts on soured mortgages....
...The deal was blessed by Ben Lawsky, head of the New York State Department of Financial Services, who had the authority to wind down MBIA’s lossmaking insurance unit if a deal was not forthcoming....
...The number of Americans who claimed unemployment insurance for the first time leapt 78,000 last week to 439,000....
...Nationstar also originates mortgages, as well as providing services for delinquent loans, managing loans in foreclosure, title insurance, loan settlement and valuation services....
...A bank engages in principal trading when it buys a stock from a client as a service to that client, who wants to unload his position quickly....
...AIG, ostensibly an insurance group, wrote credit default swaps against mortgage-backed securities held by banks....
...The AIG suit focuses on alleged misdeeds at BofA and two of its crisis-era acquisitions – Merrill Lynch and Countrywide Financial....
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