Crédit Agricole’s third quarter profit beat expectations for corporate lending growth

Crédit Agricole's third quarter profit beat expectations for corporate lending growth

Paris, November 10 (Reuters) – Credit Agricole SA (CAGR.PA) Joining French and European peers, it was driven primarily by corporate and consumer lending, offsetting the exit of asset manager Amundi and lower trading income. Net income was €1.35 billion ($1.35 billion), down 3.6% from the prior-year quarter, but supported by one-off items such as the … Read more

China amends rules governing insurance relief fund

China amends rules governing insurance relief fund

BEIJING (Reuters) – China’s financial regulator said on Wednesday it had amended rules governing a state-run bailout fund that bails out troubled insurers. The regulations aim to promote the healthy development of the insurance industry, prevent and resolve financial risks, and maintain financial stability, the China Banking and Insurance Regulatory Commission said in a statement … Read more

LeBron creditors to contest 2020 loan deal

LeBron creditors to contest 2020 loan deal

(Reuters) – Some of Revlon’s creditors have asked a U.S. bankruptcy judge in Manhattan to roll back the bankrupt cosmetics giant’s 2020 loan restructuring. Creditors, including Brigade Capital and Nuveen Asset Management, said in court filings late Monday that LeBron’s bankruptcy proceedings had a huge stake based on “fake” loan deals that took place in … Read more

UK’s Lloyd’s puts a brake on bad loans due to housing crisis, declining profits

UK's Lloyd's puts a brake on bad loans due to housing crisis, declining profits

LONDON, Oct 27 (Reuters) – Lloyds Banking Group (LLOY.L) It will report lower quarterly earnings on Thursday as it prepares for higher outstanding loans as borrowers are squeezed by the weakness in the UK housing market and inflation. Lloyd’s has lowered its economic forecasts to reflect the worsening outlook and now expects the economy to … Read more