Thursday, November 21

Tag: Financial Services

Birla eyes top three slots in financial services business
17Apr By adminNo Comments
Business

Birla eyes top three slots in financial services business

MUMBAI: Aditya Birla Group chairman Kumar Mangalam Birla has set an ambitious target for the financial services arm of the conglomerate to be among the top three players in each of its primary businesses - lending, asset management, insurance, and payments. Birla said this during the launch of Aditya Birla Capital Digital's new direct-to-customer app platform.He said that the platform would add three crore new customers in three years, almost doubling the existing customer base from 3.5 crore.Birla said that the group is now focusing on consumer-facing businesses. "The launch of new consumer-facing ventures marks the group's commitment to constructing a growth platform characterised by a unique confluence of strength and breadth. Just last month, we launched our paints business, with an i...
Read More
Chinese State-Owned Firms Establish $1.4 Billion Fund
2Jan By adminNo Comments
World

Chinese State-Owned Firms Establish $1.4 Billion Fund

Two Chinese state-owned companies will establish a 10 billion yuan ($1.41 billion) fund to invest in companies with real estate project assets.Under the agreement, New China Life Insurance will be the limited partner providing CNY9.9 billion in capital and China International Capital Corp.will act as general partner that will manage the fund, New China Life said late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
PGA Tour, Saudi Deadline Passes With No Deal—but Talks Will Continue
1Jan By adminNo Comments
World

PGA Tour, Saudi Deadline Passes With No Deal—but Talks Will Continue

The stunning agreement last June between the PGA Tour and LIV Golf’s Saudi backers came with a deadline to hammer out a deal: the end of 2023. As New Year’s Eve came and went without a pact, the sides now say they are poised to continue negotiations into 2024. In a memo to players Sunday, PGA Tour commissioner Jay Monahan wrote that the goal remains to strike a finalized agreement—but it hasn’t happened yet. Instead, he said, there are “active and productive conversations” with Saudi Arabia’s Public Investment Fund and they are “working to extend our negotiations into next year based on the progress we have made to date.”Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
A Real-Estate Juggernaut Ran Off the Rails in 2023
1Jan By adminNo Comments
World

A Real-Estate Juggernaut Ran Off the Rails in 2023

From 2019 to 2022, a new type of real-estate fund became one of the hottest fundraising juggernauts on Wall Street by giving individual investors the chance to participate in soaring values of apartment buildings, warehouses and other types of commercial property.Last year, those funds, known as nontraded real-estate investment trusts, ran off the rails. As concerns increased about the troubled commercial-property market, fundraising plummeted by the funds’ sponsors, many of them giant investment firms such as Blackstone and Starwood Capital Group.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Japanese Investors Return to Overseas Real Estate With Lessons Learned From the 1990s
1Jan By adminNo Comments
World

Japanese Investors Return to Overseas Real Estate With Lessons Learned From the 1990s

TOKYO—Big Japanese investors stumbled disastrously into the U.S. commercial real-estate market in the late 1980s, when they bought high-profile properties like New York’s Rockefeller Center not long before the market fell hard.Now some Japanese institutional investors and real-estate companies are back—but this time it isn’t about flaunting trophy purchases. It is about diversifying portfolios for the long term and getting good bargains while the market is slumping.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Auto Insurers Can Go With the Flo
31Dec By adminNo Comments
Money

Auto Insurers Can Go With the Flo

Those ubiquitous insurance ads, with characters like Progressive’s Flo, or Geico’s Gecko, were probably a bit harder to spot in 2023. Home-and-auto insurers faced tough conditions as they worked to increase their rates to keep up with some fast-rising claim costs and cut back on marketing spending. But with underwriting performance at Progressive steadying in the most recent reports, and inflation in auto-repair costs slowing but sticking around in car-insurance costs, it wouldn’t be a shock to see Flo a bit more in 2024—as well as flows into stocks such as Progressive.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Auto Insurers Can Go With the Flo
31Dec By adminNo Comments
World

Auto Insurers Can Go With the Flo

Those ubiquitous insurance ads, with characters like Progressive’s Flo, or Geico’s Gecko, were probably a bit harder to spot in 2023. Home-and-auto insurers faced tough conditions as they worked to increase their rates to keep up with some fast-rising claim costs and cut back on marketing spending. But with underwriting performance at Progressive steadying in the most recent reports, and inflation in auto-repair costs slowing but sticking around in car-insurance costs, it wouldn’t be a shock to see Flo a bit more in 2024—as well as flows into stocks such as Progressive.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament
31Dec By adminNo Comments
Money

‘This Can’t Go On for Much Longer.’ Private Equity’s Deal Lament

Private-equity firms usually drive dealmaking on Wall Street. In 2023, they sat it out.High interest rates put many new deals out of reach. Shaky market conditions made it hard for firms to cash out of current investments. And some of their investors have been pulling back. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More
Sam Bankman-Fried Won’t Face a Second Criminal Trial
30Dec By adminNo Comments
World

Sam Bankman-Fried Won’t Face a Second Criminal Trial

Federal prosecutors said Friday that they wouldn’t try Sam Bankman-Fried on additional criminal charges that weren’t part of the fall trial that resulted in the FTX founder’s conviction for fraud related to the collapse of his crypto exchange.The move, announced in a letter to the presiding judge, clears the way for the FTX founder to be sentenced on March 28. A second trial would have delayed that sentencing, and Bankman-Fried already faces the possibility of decades in prison.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Read More