Old Mutual, the South Africa-based life insurer, this morning said it planned to proceed with its bid for Skandia after the Swedish insurer's board rejected its Skr 43bn (€4.59bn) takeover offer.

Skandia said in a statement: "The offer is not attractive for Skandia's shareholders. The board therefore advises the shareholders of Skandia against accepting the offer."

Old Mutual vows to fight on as Skandia rejects bid

Helen Fowler

Old Mutual

Deutsche Bank

Morgan Stanley

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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Todd replaces Camilla Stowell who left the NatWest-owned wealth in January

Senior GIC private equity lawyer joins Dechert in London

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US law firm hires private equity specialist from key client

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The private-equity firm’s profit rose amid what its executives called the best environment for selling assets in years.

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Gold prices are climbing as the threat of a U.S. economic slowdown becomes increasingly real.

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The president is expected to sign an executive order as soon as this week that targets what is called debanking of businesses including crypto companies.

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Big stock awards have grown much bigger for the chief executives of Palantir and Broadcom, driven by dramatic market gains and, in some cases, complex multipliers.

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The U.K. Supreme Court said a commission from a bank to a car dealer isn’t considered a bribe and dealers don’t violate rules by not disclosing this commission to customers.

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Gold futures rose as the speculation around an interest rate cut in September intensifies. Gold settled 0.8% higher, up for a second consecutive session.

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The largest U.S. crypto exchange’s revenue fell short of Wall Street expectations.

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The appointment rewards the executive who led the bank back from a scandal involving the creation of millions of fake customer accounts.

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The New York investment firm posted a profit of $472.4 million, compared with $667.9 million a year earlier.

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The London-based bank said it is well on its way to achieving the target of returning at least $8 billion to shareholders over the three years ending in 2026.

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U.S. stock futures and European indexes gained, while the dollar strengthened against the euro, after President Trump announced the trade agreement Sunday.

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