Fallout Financial News

05.07 / 12:11

COST Provident FIVE Strategy Fallout IAG missed insurance discount warnings for years

Insurance giant IAG’s staff raised doubts internally about a discounting algorithm six years before the board heard of the problems that the business was having in pricing premiums, which have since cost it more than $500 million.

05.07 / 06:31

Action Fallout PwC audit Bell Potter accuses PwC of fee gouging in AUSTRAC audit

Bell Potter has accused PwC of acting “unethically and unconscionably” and price gouging after the firm was appointed to audit the high-profile local stockbroking house following demands from the financial crime regulator.

05.07 / 06:05

UPS Platform Racing Fallout Continental India increases Africa lending in the race to counter China

Africa has become the second-largest recipient of credit from India as the country tries to catch up with China in expanding its influence in the resource-rich continent. Forty-two African nations received about $32 billion or 38% of all credit extended by India in the last decade — just a few percentage points below its neighbors, Harsha Bangari, the managing director of India’s Export Import Bank said in an interview.

05.07 / 01:19

Fallout Sunak Time UK PM Rishi Sunak's approval ratings plunge into negative for the first time since taking office

UK PM Rishi Sunak featured negative approval ratings among conservative members for the first time since taking office in October last year. According to the recent ConservativeHome survey, Sunak had an approval rating of - 2.7 percent down from 11.7 percent just last month. The decline in approval ratings comes while the government is suffering from the fallout of Bank of England's decision to increase the interest rate by 5 percent and the policy of deporting asylum seekers to Rwanda was ruled unlawful by a court last week.

04.07 / 20:09

UPS Aviat Manufacturing Gap Fallout DGGI seeks higher GST from auto parts makers

Supreme Court judgement regarding a company owned by the West Bengal government. The Directorate General of Goods and Services Tax Intelligence (DGGI) sent notices to at least 17 such companies in the last 45 days alone with total tax demands of over ₹1,200 crore, said people close to the development. Officials said the amount could go up further as more notices will be sent.

04.07 / 15:19

UPS Fallout Housing sales down 1% in Jan-Jun; gross office leasing up 3%: Knight Frank

Real estate consultant Knight Frank India said housing sales have dipped 1 per cent to 1,56,640 units in January-June from 1,58,705 units in the year-ago period. In contrast, gross office space leasing increased 3 per cent to 26.1 million square feet from 25.3 million square feet. c The period also witnessed second-highest half-yearly residential sales volume in 9.5 years.

04.07 / 08:17

Fallout Odey AM looks to transfer another fund as fallout from sexual assault claims continues

Odey Asset Management is continuing to shift its business as it reels from sexual assault claims against its eponymous founder, with the firm's Special Situations fund the latest to enter transfer talks.

03.07 / 12:38

Fallout GameStop Reddit GameStop's Reddit Users Lose, Regulators Meet

The Reddit-induced meteoric rise and fall of GameStop appears to have calmed after a wild two-week ride pitting small investors against Wall Street titans. The fallout may take longer to assess as Washington's lawmakers and regulators work to figure out just what happened when the retail investor army took on Wall Street and Robinhood, and where to go from here.

03.07 / 08:19

Fallout Odey Asset Management fallout continues as Barclays reviews corporate banking ties

The fallout from sexual assault allegations against the founder of Odey Asset Management has continued, with Barclays reportedly the latest bank to look to distance itself from the firm.

01.07 / 23:27

COST UPS Ripple Waters Fallout Southern Macquarie The Thames Water crisis is rippling out towards Macquarie

London | The existential crisis engulfing Britain’s largest water utility, Thames Water, has thrown a powerful spotlight on one of the UK industry’s most high-profile players: Macquarie Group.

01.07 / 15:31

Gap Fallout Amber Heard back on Instagram! ‘Aquaman’ star makes first IG post since Johnny Depp defamation trial, gushes about ‘unforgettable weekend’

After a six months gap, the actress is now active again on Instagram. She made her first post since her much-publicised trial against ex-husband Johnny Depp, who sued her after she accused him of domestic violence in a 2018 op-ed published in The Washington Post. On June 30, the ‘Aquaman’ actress shared a picture of her smiling and wrote, “Thank you for such an incredibly warm reception at the Taormina Film Festival for my latest movie In the Fire.

30.06 / 19:01

UPS Action Fallout DMK to take up Governor's 'sacking' of minister in Parliament

DMK supremo MK Stalin on Friday reiterated that governor RN Ravi's self-aborted attempt to sack minister V Senthil Balaji's without the advice of the Council of Ministers was unconstitutional, void and non-existent in law. Stalin wrote a strongly worded letter to Ravi, a day after Ravi dismissed the minister but backtracked late at night, after consulting the attorney general on the next course of action. DMK has decided to take up the issue of governors 'acting as the Centre's political stooges' and disturbing the functioning of non-NDA governments, party MP Kanimozhi said.

30.06 / 14:11

Disney Fallout Will Hollywood actors join writers’ strike?

strike a deal? This question is being asked because the SAG-AFTRA and the Alliance of Motion Picture and Television Producers (AMPTP) are most likely to meet and hold talks after July 7 due to the weekend and the Independence Day holiday. If media reports are to be believed, DGA has encouraged SAG-AFTRA to avoid a strike and make a deal. What will happen if the actors also join the strike? Which television series and films will be delayed unexpectedly? This is a serious question because many series have been completed and only a few patchworks here and there are required.

30.06 / 13:05

UPS FIVE CEO Fallout Southern Shell co-CEO private credit Private credit refinancing shows concerns about sector overblown: Ninepoint co-CEO

Private credit funds have been under scrutiny in recent months as rising interest rates prompted some observers to worry that the handsome returns generated by lending to companies that can’t get traditional bank financing might not stand the test of time.

30.06 / 11:15

UPS Assurant Strategy Fallout PwC PwC cuts 47 staff in latest tax leaks fallout

PwC Australia has cut almost 50 roles, or 0.5 per cent of its 10,000-strong workforce, during the past week as the firm retreats to core audit, management consulting and tax compliance triggered by its ongoing tax leaks scandal.

28.06 / 15:19

MET Digital Cooper Platform Fallout Luna Three Arrows Capital Founders Face $1.3 Billion Claim from Liquidators

The founders of the now-bankrupt crypto hedge fund Three Arrows Capital, also known as 3AC, are facing a $1.3 billion recovery claim from the fund’s liquidators.

30.05 / 13:27

Blockchain Progressive Platform Gap Align Fallout Future The future of DeFi is ReFi

The constantly evolving ecosystem of decentralized finance (DeFi) has emerged as a groundbreaking and experimental alternative to traditional finance (TradFi), demonstrating immense potential while simultaneously facing a myriad of challenges.

23.05 / 00:13

Provident Twitter Fallout Nov reorganization BlockFi Sent Out Reorganization Plan ‘Prematurely,’ Court Orders Them Withdrawn

Bankruptcy cryptocurrency lender BlockFi took back statements it made earlier this month about a plan to reorganize which it said was done “prematurely.”

18.05 / 01:43

Fallout Holdings Crypto Holdings lawmakers South Korean Lawmakers ‘Must Declare’ Crypto Holdings – ‘Coin Gate’ Fallout Continues

South Korean lawmakers will likely be “obliged” to declare their crypto holdings following a national outcry over alleged “insider trading.”

12.05 / 11:27

Fallout Financial Credit Suisse financial sponsors head Freya van Oorsouw to join Deutsche Bank

Deutsche Bank has hired Credit Suisse's head of financial sponsors in the latest senior recruit by the German lender as it takes advantage of the fallout from the Swiss bank.

04.05 / 12:31

UPS Fallout Lael Brainard’s White House Challenge: Shielding Fallout From High Inflation, Rates

WASHINGTON—As a top Federal Reserve official, Lael Brainard sounded an alarm four years ago that rolling back rules on midsize banks could sow the seeds of a future crisis.

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