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Top StoriesAir France-KLM Launches 2.3 Billion Euro Share Sale
Top StoriesAllianz Very Likely to Fully Exit Russia, CFO Says
Top StoriesZurich Expects to Exceed All 2022 Financial Targets
FinanceCapital Market Credit Automation
Decline and Near Fall of Italy’s Monte Dei Paschi, the World’s Oldest Bank
Date: May 6, 2022
MILAN (Reuters) – An appeals court on Friday acquitted all 13 defendants, as well as Deutsche Bank and Nomura, over derivative deals that prosecutors alleged helped Monte dei Paschi di Siena hide losses in one of Italy’s biggest financial scandals. Here is a timeline of key events in the recent history of Monte dei Paschi...
UniCredit Surprises With Buyback as It Tackles Russia Exit
Date: May 5, 2022
By Valentina Za MILAN (Reuters) -UniCredit cheered investors by saying it would soon start a 1.6 billion euro ($1.7 billion) share buyback put at risk by the Ukraine war, even as it set aside almost as much to cover the cost of quitting Russia. One of Europe’s banks most exposed to Russia, UniCredit said the...
UniCredit Cheers Investors With Buyback as Russia Hits Profit
Date: May 5, 2022
By Valentina Za MILAN (Reuters) -UniCredit surprised investors by saying it will soon start a 1.6 billion euro ($1.7 billion) share buyback put at risk by the Ukraine war, even as Russia-related provisions drove first-quarter profit down 70%. UniCredit is one of Europe’s banks most exposed to Russia, where it runs AO UniCredit Bank, which...
Wall Street Sees Greater Risk of Default by Major Banks
Date: May 3, 2022
By Mehnaz Yasmin (Reuters) – The cost to insure bonds of Goldman Sachs, Morgan Stanley and Citigroup against default hit two-year highs on Monday on growing fears the U.S. Federal Reserve’s aggressive moves to tame inflation might tip the economy into recession. Credit risks have worsened since the Ukraine crisis as some big U.S. banks...
Syngenta Q1 Sales Rise 26% as Farmers Buy Early, IPO on Track
Date: April 28, 2022
By John Revill ZURICH (Reuters) – Syngenta Group increased its first-quarter sales by 26% as farmers bought seeds and sprays early to avoid possible shortages later in the year, the Swiss agrochemicals company which is planning a $10 billion IPO said on Thursday. The results of the Chinese-owned group are seen as a bellwether for...
Warner Bros Discovery Adds 2 Million Subscribers in First Quarter
Date: April 26, 2022
By Eva Mathews and Helen Coster (Reuters) -Warner Bros Discovery said on Tuesday it added about 2 million paid streaming subscribers in the first quarter, at a time when industry pioneer Netflix lost subscribers for the first time in more than a decade. In the first set of results from the media giant forged by...