Aviva Plc, RSA Insurance Group Plc, and Direct Line Group Plc are poised to bear the brunt of losses from flooding in Britain that is estimated to cost the industry as much as 1 billion pounds ($1.7 billion).
The next hurdle to bank reform is looming after U.S. President Barack Obama and other Group of 20 leaders endorsed the Basel Committee on Banking Supervision’s new rules in South Korea last week: the bond market.
JPMorgan Chase & Co., seeking to end probes of a $6.2 billion trading debacle, admitted to violating federal securities laws and agreed to pay about $920 million for failing to implement adequate controls and providing incomplete information to regulators and its board.
Amazon.com Inc. and brick-and-mortar stores urged U.S. senators to pass legislation to let states collect sales taxes from online retailers based elsewhere, as other Internet companies said they oppose the measure.
The U.K.’s largest insurance companies will invest 25 billion pounds ($41 billion) in infrastructure, the government announced as it prepares to publish new plans for projects from energy and transport to communications.