Wall Street’s insurance takeover presents circular risks and rewards
Aggressive tactics are prompting increased regulatory scrutiny
MFS administrators sue Barclays after accounts access frozen
Creditors of failed UK mortgage provider try to recoup assets amid allegations of double pledging
U.S. Trade Deficit Dips in June Along With ‘World Cup Effect’
Imports and exports both declined, retreating from a busy month in May, data from the Commerce Department showed.
A Currency Trader at Heart, Bessent Bets on Japan’s Yen
Coordinated intervention allowed Japan to support its currency without selling off its U.S. debt holdings.
Before Trump, some states had already ended affirmative action for contractors – here’s what happened
Arian Simone, left, and Ayana Parsons of the foundation The Fearless Fund saw their grant program for Black women entrepreneurs affected after the Supreme Court ruled against affirmative action.
Before Trump, some states had already ended affirmative action for contractors – here’s what happened
Arian Simone, left, and Ayana Parsons of the foundation The Fearless Fund saw their grant program for Black women entrepreneurs affected after the Supreme Court ruled against affirmative action.
Europe’s venture capital gap and the financing of high-growth firms
This box examines EU venture capital market developments and the implications for firm financing and growth. Venture capital in the EU remains limited in scale and fragmented across national markets, with gaps particularly evident at later stages of financing where they are partially filled by non-EU investors. Although venture capital from outside the EU can help firms expand, a strong reliance on external investors may reduce Europe’s ability to retain the economic gains generated by its entrepreneurial ecosystem.
Apollo misses out on big asset sales that have boosted rivals
Private capital group says it ‘prudently delayed’ sales ‘amid an evolving exit environment’
How wildfires and heatwaves affect your travel insurance
As wildfires blazed on the Cap Ferret peninsula in south-west France in July, some people left by boat. The roads out run through dense pine plantation, the fire had reached them, and the gendarmerie put those without cars onto ferries.
Around 44,000 people fled Cap Ferret, a stretch of oyster villages and holiday homes an hour from Bordeaux. Bordeaux airport was shut. Across France, about 250,000 were moved. Meanwhile, Spain declared a national emergency over wildfires in Madrid and Ávila.
Severity over quantity. Drivers of supervisory capital add-ons in internal ratings-based models
Banks use their internal models to estimate capital requirements in a risk-sensitive way, subject to a set of rules laid down in banking regulation. However, these models are not flawless as the usage of models suffers from imperfections, such as oversimplifications or wrong assumptions. As a result, risks may be underestimated. This is particularly troublesome, where models are used to assess risks to banks’ solvency. In this paper we address an important gap in the literature with regard to such model risk.
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