FRANKFURT, Germany—Allianz spent around 140 million euros ($143.11 million) on restructuring to wind down a U.S. funds unit at the center of a multi-billion fraud, the German insurer disclosed on Friday, an expense that added to a worse-than-expected 23 percent fall in quarterly profit. Allianz in May agreed to shut down the unit, Allianz Global…

Allianz will pay over $6 billion in its criminal securities fraud case, in one of the largest white-collar crimes in U.S. history. Casino mogul Steve Wynn was accused of lobbying Trump on behalf of the Chinese Communist Party. He apparently wanted to get a Chinese dissident sent back to China. More recession warnings and a big…

NEW YORK/MUNICH—Germany’s Allianz SE agreed to pay more than $6 billion and its U.S. asset management unit pleaded guilty to criminal securities fraud over the collapse of a group of investment funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. Department of Justice and U.S. Securities and Exchange Commission are among the largest…

The National Tertiary Education Union (NTEU) and the University of Tasmania (UTAS) are “locked in a battle” after UTAS declined to comply with the union’s request to provide up to 30 days’ leave for transgender staff. The university currently offers 10 days of special leave for their staff irrespective of their gender, however, the NTEU…

NEW YORK—A U.S. judge said Germany’s Allianz SE must face investor claims it wrongly “abandoned” the investment strategies it promised to use on hedge funds that suffered massive losses as the COVID-19 pandemic shook markets early last year. In an 81-page decision, U.S. District Judge Katherine Polk Failla in Manhattan said investors could try to…