Allianz Se News
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Allianz SE is likely to reduce its shareholdings in banks because of new regulations for insurance companies that penalize firms holding stakes in lenders, Boersen-Zeitung reported in a preview of a story that will run tomorrow, citing Allianz Chief Financial Officer Oliver Baete.
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Allianz SE, Europe’s biggest insurer, confirmed its full-year operating profit target after first- quarter net income climbed 60 percent on lower disaster claims.
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Deutsche Bank AG investors shouldn’t sign off on the supervisory board’s actions for 2011 at the bank’s annual general meeting this month, said Ivox GmbH and Glass Lewis & Co., which advise shareholders on how to vote.
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German stocks fell, snapping three days of gains, as Greece moved closer to a possible exit from the euro currency union and German Chancellor Angela Merkel’s party lost a state election.
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Investor lawsuits filed in the wake of share sales by Groupon Inc. and Deutsche Telekom AG are boosting the appeal of insurance for public offerings.
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UniCredit SpA may expand in the countries where it operates in a bid to play a “leadership role” in Europe, new Chairman Giuseppe Vita said.
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Bill Gross, who runs the world’s biggest bond fund, cut his holdings of emerging-market debt to a two-year low, selling assets from an area where the International Monetary Fund says growth will slow.
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Allianz SE, Europe’s biggest insurer, said profit rose at least 53 percent in the first quarter as it paid less for natural-disaster claims.
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Commerzbank AG must pay bonuses promised to more than 100 Dresdner Kleinwort bankers who sued the German lender after it failed to honor awards totaling about 50 million euros ($65 million), a U.K. judge said.
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Pacific Investment Management Co.’s Bill Gross and Jan Hatzius at Goldman Sachs Group Inc. say investors should prepare for additional bond purchases by the Federal Reserve to combat a slowing U.S. economy.
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