Allianz GI, which manages 557 billion euros ($605.18 billion) as part of insurer Allianz (ALVG.DE), said it had updated its Global Corporate Governance Guidelines and would push companies to do more to manage what it said was a critical risk.
FILE PHOTO: The company logo and trading information for BlackRock is displayed on a screen on the floor of the New York Stock Exchange (NYSE) in New York, U.S., March 30, 2017. REUTERS/Brendan McDermid/File Photo
Sears’ billionaire owner Eddie Lampert rescued the retailer from liquidation in a $5.2 billion takeover during bankruptcy proceedings a year ago. The company’s unabated need for new funding underscores Lampert’s challenges in turning it around.
BlackRock has accelerated its investment in the region as a strategic priority over the last two years and now runs more than $1 trillion there, “making us the largest independent asset manager on the Continent,” Rachel Lord, its head of Europe, Middle East and Africa, said in the memo.
He said HSBC has modelled several scenarios for the impact of the virus on its business, and in the more extreme of those in which it carries on, the lender would have to assume bad loans rising to that amount.
The Japanese technology conglomerate is also considering investing another $2.5 billion of its own money, one of the people said.
A bruising short-selling attack by Muddy Waters launched two months ago has seen the company’s market value fall to 1.6 billion pounds ($2.1 billion), a far cry from its peak value of about 8.4 billion pounds in August 2018.
FILE PHOTO: Switzerland’s national flag flies beside a logo of Swiss bank Credit Suisse at its headquarters at the Paradeplatz square in Zurich, July 31, 2019. REUTERS/Arnd Wiegmann/File Photo
Logo is displayed in an elevator at the KONE Academy of Finish elevators and escalators manufacturer KONE in Hanover, Germany, February 6, 2020. Picture taken February 6, 2020. REUTERS/Fabian Bimmer
FILE PHOTO: The J.P.Morgan logo is seen at Canary Wharf financial district in London,Britain, March 3, 2016. REUTERS/Reinhard Krause/File Photo
Swiss bank UBS CEO Sergio Ermotti, President Axel Weber and designated new CEO Ralph Hamers give a news conference in Zurich, Switzerland February 20, 2020. REUTERS/Arnd Wiegmann
Workers prepare a hoarding with the images of the U.S. President Donald Trump and India’s Prime Minister Narendra Modi ahead of Trump’s visit, on the outskirts of Ahmedabad, February 19, 2020. REUTERS/Amit Dave/Files