Huarong Warns of $4bn Loss for 2022

Huarong Warns of $4bn Loss for 2022

China Huarong Asset Management said that it is expecting a loss of RMB 27.6bn ($4bn) for 2022. The bad debt manager cited erosion in fair values of some of its equity assets on the back of volatility in the capital markets as reasons for the massive loss. This comes...
Macquarie Planning $6bn Takeover of M&G

Macquarie Planning $6bn Takeover of M&G

Macquarie is planning a takeover bid of over over £5bn ($6bn) for M&G, a UK-based fund management and insurance group. M&G has a market capitalization of just over £5bn ($6bn) and was the  former UK arm of Prudential. No final offer has been made yet and...
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