Diversified Financials Diversified Financial Services

  • Aug 5- Berkshire Hathaway Inc on Friday said its second-quarter profit rose 25 percent, helped by improvement in insurance underwriting, investment gains and the purchase of Precision Castparts Corp, Warren Buffett's largest acquisition. Net income for Omaha, Nebraska- based Berkshire rose to $5 billion, or $3,042 per Class A share, from $4.01 billion, or $2,442,...

  • Aug 5- Berkshire Hathaway Inc on Friday said its second-quarter profit rose 25 percent, helped by improvement in insurance underwriting, investment gains and the purchase of Precision Castparts Corp, Warren Buffett's largest acquisition. Net income for Omaha, Nebraska- based Berkshire rose to $5 billion, or $3,042 per Class A share, from $4.01 billion, or $2,442,...

  • *SocGen Q2 net income 1.46 bln euros vs forecast 1.2 bln. PARIS, Aug 2- France's biggest banks posted better-than expected earnings in the second quarter as their diversified business models helped mitigate the pressure from low interest rates and weak markets. Europe's banking index was up 1.8 percent on Wednesday, paring losses on Monday and Tuesday.

  • *PE purchases of UK firms down 83 pct this year- data. *U.S.-listed group goes against trend by buying UK cinemas. The referendum result, which caught financial markets by surprise, is making institutional investors have second thoughts about committing to new funds for private equity deals in Britain, according to people in the industry.

  • SIENA, Italy, July 8- In 1624, the Medici Grand Duke of Tuscany rushed to the defence of depositors of a bank that was by then already 152 years old, Monte dei Paschi di Siena, guaranteeing their savings at a time of economic crisis. Nearly 400 years later, Italian Prime Minister and fellow Tuscan Matteo Renzi aims to do something similar as the world's oldest bank and...

  • LONDON, July 3- Facing the prospect of their first UK recession, Britain's small specialist lenders could struggle to cope with a downturn, especially in the small and medium-sized business sector that is their lifeblood. The promises of the so-called challenger banks, many just a few years old, to improve customer choice and challenge the dominance of big High...

  • Market has another strong day

    A market update, with Ben Willis, Princeton Securities managing director.

  • *Canadian banks look outside of Canada for growth. *CIBC shares down 3 percent, Private Bancorp up 22 percent. TORONTO June 29- Canadian Imperial Bank of Commerce said it will buy Chicago- based PrivateBancorp Inc in a $3.8 billion cash-and-share deal, its biggest ever acquisition and a long-awaited expansion in U.S wealth management.

  • Europe isn't a free and fair market for financial services: CEO

    Dominic Johnson, CEO of Somerset Capital Management and chairman of New City Initiative, explains the difficulties of launching a fund in Europe.

  • June 13- New York state's employees' retirement fund earned a return on investment of just 0.19 percent in fiscal 2016, it said on Monday, its worst showing since the U.S. recession ended in 2009 and a worrying indicator for other funds. The fund's value also dropped for the first time in seven years to $178.1 billion as it paid out $10.9 billion in benefits during...

  • James Bullard

    The nation's megabanks need to be split up like the old AT&T monopoly in order to foster innovation, St. Louis Fed President Jim Bullard tells CNBC.

  • Who is in a strong position to capitalize on fintech in China

    Wendy Huang, from Macquarie, identifies the pros and cons of the Fintech investments made by the big internet giants Baidu, Alibaba and Tencent.

  • PIMCO headquarters building in Newport Beach, Calif.

    Former UK PM Gordon Brown has become an adviser to Pimco, his first major role in the private sector, the FT reports.

  • What you need to know before you invest in Square

    Adyen President Kamran Zaki explains how the financial services company faces a crowded market.

  • China's wealthy are moving to the U.S. in rising numbers. This banking start-up hopes to capitalize on the migration.

  • 'Barangaroo coming to reality is very exciting'

    New South Wales Premier Mike Baird, Premier explains why the waterside Barangaroo development will be central to Sydney's economic activity.

  • Pimco headquarters in Newport Beach, California.

    Investors who stayed put in the Pimco Total Return fund that Gross had managed for decades are up 1.7 per cent, the FT reports.

  • Guo Guangchang, Fosun Group chief executive officer and chairman, is interviewed at Bloomberg L.P. Global Headquarters in New York, U.S., on Thursday, April 23, 2015.

    The Hong Kong-listed Fosun group may now have to switch its focus after a series of large acquisitions, the Financial Times reports.

  • BlackRock signage above building entrance in New York.

    BlackRock has bought a "robo-adviser" that crafts automated portfolios in the hope of winning Millennial clients, the FT reports.

  • A bid by China to rein in its "shadow banking" activity is producing results, thanks to slowing economic growth and tighter regulation.