Zurich Insurance Profit Falls on Restructuring, Catastrophes

Zurich Insurance Profit Falls on Restructuring, Catastrophes

By Jan-Henrik Foerster

 






 

 

 

Zurich Insurance Group AG said second-quarter profit fell 12 percent on higher restructuring charges and claims from natural catastrophes as Chief Executive Officer Mario Greco overhauls the company’s biggest unit.

Net income declined to $739 million from $840 million a year earlier, Zurich said in a statement on Thursday. More...






Rare Brexit Optimist Calls for Pound to Climb Back Toward $1.50

Rare Brexit Optimist Calls for Pound to Climb Back Toward $1.50

By Chiara Albanese

 






 

 

 

 

The pound trading at $1.50 may seem like a distant memory, yet a few voices see it fully recovering from the Brexit sell-off.

A weaker pound will support growth and restore balance in the U.K. economy, while the country will be able to strike a deal in exit talks with the European Union that maintains its competitiveness, said Stephen Jen, chief executive of investment company Eurizon SLJ Capital Ltd. More...






Things Are Looking Up for China’s Manufacturers

Things Are Looking Up for China’s Manufacturers

By Bloomberg news

 






 

 

 

China’s factory-gate deflation eased for the seventh straight month, signaling improving conditions for the nation’s manufacturers and adding to evidence the world’s second largest economy is stabilizing. More...






German Industry Output Rises as Factories Shrug Off Brexit Woes

German Industry Output Rises as Factories Shrug Off Brexit Woes

By Julia Hirsch

 








 

 

 

German industrial production increased in June, signaling that Europe’s largest economy gained momentum ahead of the U.K.’s Brexit vote.

Production, adjusted for seasonal swings, rose 0.8 percent from the previous month, when it dropped a revised 0.9 percent, data from the Economy Ministry in Berlin showed on Monday. The reading, which is typically volatile, compared with a median estimate for a 0.7 percent gain in a Bloomberg survey. More...








How Low Can the Bank of England Go?

How Low Can the Bank of England Go?

By Emma Charlton



 




 

 

 

 


The central bank on Thursday endorsed a path that sees the benchmark fall to 0.1 percent

Mark Carney has once again made it clear he's not a fan of negative rates, though he's left investors guessing on what exactly the Bank of England's lower bound is.

The BOE governor and the Monetary Policy Committee remained coy on Thursday about exactly how close to zero they’d go, even as they signaled a willingness to take rates below the current record-low 0.25 percent. More...







S&P 500 Shakes Off Doldrums to End Week at Record on Jobs Report

S&P 500 Shakes Off Doldrums to End Week at Record on Jobs Report

By Bailey Lipschultz

 






 

 

 

Evidence the U.S. economy is churning out jobs salvaged the week for equities, sending the Nasdaq Composite Index to its first record close in a year and handing the S&P 500 Index its fifth weekly advance in six since the start of July. More...






RBS Posts Quarterly Loss on $1.7 Billion Litigation Expense

RBS Posts Quarterly Loss on $1.7 Billion Litigation Expense

By Richard Partington

 







 

 

 

Royal Bank of Scotland Group Plc, Britain’s largest taxpayer-owned lender, posted a larger loss than estimated in the second quarter as it set aside more money to cover a lawsuit over its 2008 share sale. More...







Aluminum Is a Poor Man’s Steel When It Comes to Fighting China

Aluminum Is a Poor Man’s Steel When It Comes to Fighting China

By Joe Deaux