Wealth management advisers: a booming fundraising

Wealth management advisers: a booming fundraising

Net inflows in life insurance have already reached 17.1 billion euros since the start of the year, compared to 7.2 billion for the whole of 2017. For the twelfth year, BNP Paribas Cardif has published its barometer of the market for independent wealth management advisers and their clients. And for Pascal Perrier, director of CGPI networks – brokers and digital business at BNP Paribas Cardif France, a first observation is obvious: “the morale of CGPIs…

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U.S. banks raked in more than $ 80 billion in profit in 2020

The Wall Street giants took advantage of the rebound in financial markets that led to a boom in brokerage, IPOs, and mergers and acquisitions. The contrast is striking. Like other countries, the United States experienced a historic recession in 2020 following the Covid-19 pandemic, but its six major banks have amassed cumulative profits of more than $ 80 billion, fully benefiting from their global leadership in trading or merchant banking. On Thursday, Morgan Stanley closed…

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Covid 19: the corporate default rate has doubled in less than a year worldwide

Covid 19: the corporate default rate has doubled in less than a year worldwide

The corporate default rate is the highest in 10 years globally, according to Moody’s. Even in the post-financial crisis years, the number of companies struggling on their debt was not that high. The oil and gas sector is the most affected. State support plans for businesses have barely made it possible to limit the damage. The default rate for companies in the “speculative” category – the lowest rated – has reached 6.5% year-over-year worldwide, according…

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Real estate credit: banks are demanding an ever higher contribution

Real estate credit: banks are demanding an ever higher contribution

The contribution required to obtain a mortgage increased “dramatically” last year, according to L’Observatoire Crédit Logement / CSA. Banks were claiming 16.4% of the total loan amount at the end of last year, up from 13.7% in 2020. The effects of the crisis are starting to be felt in the mortgage market. In its latest observatory, published Tuesday, Crédit Logement / CSA observed a real drop-out of the most modest households. The latter fail to…

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Unemployment fell to 8.1% at the end of 2019, the lowest since 2008

Unemployment fell to 8.1% at the end of 2019, the lowest since 2008

The unemployment rate, measured according to the standards of the International Labor Office (ILO), fell by 0.4 points in the fourth quarter of 2019, according to INSEE. Over one year, the decline reached 0.7 point. It thus stands at 8.1% of the working population. France (excluding Mayotte) had 2.424 million unemployed at the end of last year. There is good news on the employment front, despite the slowdown in growth. After the announcement at the…

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Lazard surfed on the momentum of mergers and acquisitions last year

Lazard surfed on the momentum of mergers and acquisitions last year

The Franco-American investment bank suffered from market volatility at the end of the year. But it benefits from an exceptional 2018 vintage for mergers and acquisitions. The exceptional vintage of mergers and acquisitions last year enabled Lazard to offset the effect of the turbulence in the equity markets at the end of the year, which weighed on its asset management business. The Franco-American investment bank, whose revenues are shared between advice and asset management, suddenly…

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Goldman Sachs takes the lead in mergers and acquisitions in France

Goldman Sachs takes the lead in mergers and acquisitions in France

The world leader, the American bank takes the lead in the Refinitiv ranking of investment banks for French transactions, with more than $ 100 billion in advised deals. The health crisis has not changed anything. American banks remained at the top of the ranking of French mergers and acquisitions in 2020, while their French rivals were on the front line with companies in the face of the pandemic shock. Goldman Sachs takes first place in…

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France has become the main engine of growth in the euro area

France has become the main engine of growth in the euro area

For the first time since 2004, France will be the first country contributing to the growth of the euro zone this year. The good resistance of domestic demand explains this performance. The OFCE forecasts an increase in purchasing power of 310 euros per household on average next year. This is a first since 2004. France should be the first country contributing to the growth of the euro zone this year, underlines the French Observatory of…

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Hiring young people in the neighborhoods: the “free jobs” system strengthened

Hiring young people in the neighborhoods: the “free jobs” system strengthened

The aid granted to companies hiring a young unemployed person from the political districts of the city is increased to 7,000 euros the first year, instead of 5,000, announced this Thursday morning the Minister of Labor, Elisabeth Borne . The device is also extended for one year. The decree was published this Thursday in the “Official Journal”. The government is extending and strengthening the “free jobs” system aimed at promoting the hiring of unemployed young…

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Growth, deficit: the government is lowering its ambitions for 2020

Growth, deficit: the government is lowering its ambitions for 2020

The government now expects growth of 1.3% next year, lower than the +1.4% that was expected two months ago. This slight slowdown and the deadlock in certain economies lead to an increase in the forecast deficit, now set at 2.2% of GDP (against 2.1% expected in July), almost the same level as in 2019 excluding exceptional items . Public spending will increase by around 25 billion. Officially, the government continues to follow the same roadmap…

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