Insurance Australia Group has been forced to clarify its exposure to failed financier Greensill after its shares sank 10 per cent amid concerns about its relationship with the group.
The general insurance giant went into a trading halt on Tuesday after its shares tumbled over its links to Greensill, which were first revealed by The Age and The Sydney Morning Herald last week.
Greensill’s United Kingdom operating arm and its Australian head company collapsed into administration on Tuesday after losing the support of its key financial backer Credit Suisse. Read more…..
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Noted businessman, investor and philanthropist Warren Buffett joined Bank of America CEO Brian Moynihan in Gaston Hall at Georgetown.