Banking

Image for AI in Banking: How can legacy banks avoid falling behind?

Banking

AI in Banking: How Can Legacy Banks Avoid Falling Behind?

Image for Russian rouble down by one quarter since early August

Banking

Russian Rouble Down by One Quarter Since Early August

Image for HSBC loses court challenge against $33.4 million EU cartel fine

Banking

HSBC Loses Court Challenge Against $33.4 Million EU Cartel Fine

Image for Italy’s League announce bill to overhaul central bank’s governance

Banking

Italy’s League Announce Bill to Overhaul Central Bank’s Governance

Image for Banco BPM rebuffs UniCredit bid, saying it undervalues bank

Banco Bpm Rebuffs UniCredit Bid, Saying It Undervalues Bank

Date: November 26, 2024

By Andrea Mandala, Valentina Za and Elvira Pollina MILAN (Reuters) -Italy’s Banco BPM on Tuesday rebuffed a 10 billion euro ($10.5 billion) unsolicited takeover offer by rival UniCredit, saying it undervalued the bank, tied its hands in strategic deals and created new risks for shareholders. BPM said the 0.5% premium offered was “unusual for such...

Image for ECB’s Villeroy: Trump policies impact on euro inflation to be limited

ECB’s Villeroy: Trump Policies Impact on Euro Inflation to Be Limited

Date: November 26, 2024

PARIS (Reuters) – The new Trump administration’s economic policies in the U.S. may have a “relatively limited” effect on European inflation but could have a more noticeable impact on long-term interest rates, ECB policymaker Francois Villeroy de Galhau said on Tuesday. Villeroy, who is head of the French central bank, said that President-elect Donald Trump’s...

Image for UK regulators propose more relaxed rules on bankers’ bonuses

UK Regulators Propose More Relaxed Rules on Bankers’ Bonuses

Date: November 26, 2024

LONDON (Reuters) -British bankers should be able to spend their bonuses sooner, the Bank of England and Britain’s Financial Conduct Authority said on Tuesday, setting out plans to relax rules put in place after the global financial crisis. The BoE and FCA proposed that the most senior bankers should have their bonuses deferred by five...

Image for Credit Agricole has not applied to ECB to cross 9.9% holding in Banco BPM, spokesperson says

Credit Agricole Has Not Applied to ECB to Cross 9.9% Holding in Banco Bpm, Spokesperson Says

Date: November 26, 2024

MILAN (Reuters) – Credit Agricole has not applied to gain European Central Bank authorisation to cross the 9.9% threshold with its holding in Banco BPM, a spokesperson for the French bank said. The 9.9% is the first of various thresholds of bank ownership that require supervisory clearing. Credit Agricole is the biggest investor in Banco...

Image for ECB will keep cutting rates and focus shifting to growth, VP says

ECB Will Keep Cutting Rates and Focus Shifting to Growth, Vp Says

Date: November 26, 2024

FRANKFURT (Reuters) – The European Central Bank will keep cutting interest rates as inflation falls and its focus is slowly shifting to growth, which is proving fragile, ECB Vice President Luis de Guindos told a Finnish newspaper. “Concerns about high inflation have shifted to economic growth,” Helsingin Sanomat quoted de Guindos as saying. “The trajectory...

Image for UBS on track to fully own China securities joint venture

UBS on Track to Fully Own China Securities Joint Venture

Date: November 26, 2024

BEIJING/HONG KONG (Reuters) -One of UBS’s joint venture partners in China will sell its entire holding in a securities company, paving the way for the Swiss bank to fully own a sizeable securities brokerage in the world’s second-largest economy. Beijing State-owned Asset Management (BSAM) plans to auction off a 33% stake in the joint venture,...