Swedish central bank gets smaller-than-requested cash injection
The Swedish parliament’s finance committee has proposed that the central bank receive a capital injection of 25 billion crowns ($2.40 billion), less than requested by the board, the Riksbank said on Thursday. The central bank in April asked parliament for a capital injection of 43.7 billion crowns following a fall in the value of bonds bought between […]
Germany’s May inflation rises to 2.8% on higher services prices
German inflation rose in May due to higher services prices, the federal statistics office said on Wednesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, rose 2.8% in May from a year earlier. They had risen 2.4% year-on-year in April. “The inflation rate is slightly up again, mainly due to the continued […]
Morgan Stanley CEO says AI could save financial advisers 10-15 hours a week
The use of artificial intelligence (AI) could save Morgan Stanley’s (MS.N), opens new tab financial advisers between 10 and 15 hours a week, the bank’s CEO Ted Pick told investors at a conference on Monday. “This is potentially really game-changing,” Pick said, adding that the bank’s tool to transcribe and enter notes from client meetings into a […]
New York recovers $50 mln for defrauded Gemini Earn crypto investors
New York Attorney General Letitia James has recovered $50 million from the cryptocurrency platform Gemini Trust to repay investors defrauded in its Gemini Earn program, she said on Friday. Gemini, run by billionaire twin brothers Cameron and Tyler Winklevoss, will provide full recoveries to more than 230,000 Earn investors, including 29,000 in New York, and […]
Insurers to build private credit exposure in coming years, Moody’s finds
Global insurers plan to invest further in the coming years in the growing but opaque private credit market, according to a new report by Moody’s Ratings. In a survey this week of the world’s largest insurers, Moody’s found that nearly 80% of respondents planned to increase their holdings in at least one class of private […]