Allianz’s asset-management division — which houses Pimco — posted a 13% fall in operating profit, but recorded net inflows of €14.9bn

Allianz said on 12 May that first-quarter net profit rose sharply after its year-earlier result was hit by a provision, and confirmed its guidance for 2023.

Europe’s largest insurer said it made a net profit of €2.03bn ($2.22bn) compared with €417m in the year-earlier period, when it booked a provision after reaching settlements related to its Structured Alpha funds in the US.

 Adria Calatayud 

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The former Goldman Sachs  and TCI Fund Management employee has also stepped down from her board role at UK trade body the Investment Association

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Israel’s attack on Iran gave the greenback a boost after a long stretch of trouble. But the long-run prospects for the dollar don’t look good.

The shipments have propelled Ireland, a country of only 5.4 million people, to the second-largest goods-trade imbalance with the U.S., trailing only China.

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