Traders at Goldman Sachs Group Inc may reap huge profits from the winter storm last month that left many across Texas and other southern U.S. states without electricity, clean water and heat, Bloomberg News reported on Friday.
The mayor of Germany’s Monheim am Rhein is concerned that it may lose 38 million euros ($46 million) invested with Greensill Bank after a warning on Wednesday by the country’s financial regulator of “an imminent risk” to the lender.
The sleepy northwestern German town, which has a population of 40,000 and boasts a medieval tower, parked the sum — which equates to almost 1,000 euros per resident — at Bremen-based Greensill Bank, the mayor said in an emailed statement.
German watchdog BaFin warned of the risk that Greensill Bank would become over-indebted on Wednesday, imposing a moratorium on the lender making disposals or payments.
Google is teaming up with two global insurers to cover cyber breaches and related risks for businesses that use its cloud services, the first time a major provider has opened up such insurance to its clients, the companies said on Tuesday.
Major insurers have been treading carefully on cyber risks for years, but the tie-up between Google, Allianz and Munich Re gives the insurers special access to data to see what controls are in place at client firms to help them price the risk.
“This is extremely key. This is data that we as insurance carriers traditionally have not had access to,” said Thomas Kang, head of North American cyber, tech and media at Allianz’s AGCS unit.
Aon will face a list of objections by the EU’s antitrust watchdog which it must overcome with concessions to proceed with its $30 billion bid…
Charles Sussman, managing director and co-head of global oil trading at Bank of America Merrill Lynch (BAML), has left after nearly 10 years with the firm, two sources familiar with the matter said on Wednesday.
A spokeswoman for BAML declined to comment. Sussman did not respond to a request for comment.
Wall Street often sees staffing changes around this time of the year after bonuses are handed out.
ARK Invest founder and chief investment officer Cathie Wood reiterated her bullish position on Tesla and bitcoin on Wednesday while warning that the growth of digital wallets will “gut” traditional banks.
Amazon.com Inc will open its first-ever physical store outside the United States on Thursday.
The world’s largest online retailer said the cashierless store, dubbed “Amazon Fresh,” is located in Britain, in the London Borough of Ealing. It will carry a private UK food brand it’s calling “by Amazon” and will let consumers skip the checkout line when they shop.
Texas’ power grid operator on Wednesday cited 12 energy companies and two municipal utilities for failure to pay their bills for power and services during February’s deadly blackout that has led to the ouster of the operator’s chief executive.
The companies and utilities owe $2.21 billion for power and services during the storm, the Electric Reliability Council of Texas (ERCOT), which runs the grid providing electricity to 90% of state residents, said.