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The Big Question

Revolut Western Europe CEO: “Not specifically in a hurry” for licences

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Markets

UniCredit delivers record earnings, raises 2025 outlook

UniCredit delivers record-breaking second-quarter results, boosting confidence with stronger full-year outlook and new share buy-back. CEO Orcel calls it the best first half in the bank’s history.

Economy

UniCredit withdraws bid for Banco BPM due to uncertainty

The group's board of directors announced that it had decided to abandon the takeover due to the Italian government's use of golden power, which had prolonged the negotiations too much, preventing UniCredit from talking to BPM's shareholders

Business

Revolut announces 400 new jobs as neobank establishes Paris HQ

Following the appointment of a Western Europe CEO, neobank Revolut has announced a recruitment drive as its new Paris HQ takes shape.

Business

Spain's Santander buys TSB Bank to boost presence in the UK

The Spanish lender is about to become the third-largest bank in the UK by share of personal current accounts, after the deal is closed.

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AIIB at 10: A decade of development and the road ahead

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The Asian Infrastructure Investment Bank (AIIB) is holding its 10th Annual Meeting of Board of Governors from June 24 to 26 in Beijing.

Business

Marking a decade of development: What's next for the AIIB at 10?

The Asian Infrastructure Investment Bank (AIIB) kicks off its annual meeting on Tuesday in Beijing, but why is it important for Europe?

Green News

Banks ‘show true colours’ with fossil fuel financing surge last year

In total, banks have financed fossil fuels to the tune of €6.9 trillion since the Paris Agreement was signed.

Markets

Warren Buffett’s best and worst investments as Berkshire Hathaway boss

While his knack for snapping up stocks struggling with market conditions and scandals made him billions, Buffett was still relatively slow to invest in tech companies.

Business

France’s Crédit Agricole gains ECB nod to raise stake in Banco BPM

The green light comes as Italian bank UniCredit prepares to launch a buyout offer for Banco BPM, which could be complicated by CA’s stake.

Business

Citigroup credits client’s account with $81tn in ’fat finger’ mistake

Bank staff meant to send only $280. No funds left the bank, as the error was detected before the transaction was processed the following day.

Business

Sabadell Bank raises shareholder payout promise as BBVA eyes takeover

The Spanish lender aims to offer shareholders €3.3 billion, including more than €1bn in buybacks this year.

Business

Santander announces buyback plan while CA also sees earnings rise

Spain's Santander has reported a record profit of €12.57bn and revealed plans for more share buybacks. France's Crédit Agricole, meanwhile, has recorded a rise in net income.

Business

UniCredit dives in to take minority stake of Italian insurance group

UniCredit has been involved recently in a flurry of dealmaking activity, including a bid for Banco BPM and a raised stake in Commerzbank.

Europe News

IBAN discrimination still harms consumers, says EU auditors

From February 2021 to September 2023, consumers reported almost 3,500 cases of alleged IBAN discrimination on the 'Accept My IBAN platform', mostly in France and Spain, accounting for 31% and 21% of all cases respectively.

Economy

Banking mergers are hot - but cross-border deals still face hurdles

High interest rates have allowed banks to build cash reserves for takeovers, although national concerns could be hindering pan-European deals.

Business

BBVA’s bid for Banco Sabadell hit by lengthened competition review

Spanish bank BBVA is experiencing yet another delay in its hostile takeover bid for Banco Sabadell, following increased requirements put forward by Spain’s antitrust regulator.

Europe News

EU court dismisses banks' appeal in cartel case

The European judges dismissed appeals lodged by Credit Agricole and Credit Suisse against a 2021 Commission decision that exchange of sensitive information between traders was an anticompetitive cartel in the secondary trading market.

Business

Swiss banking giant UBS beats forecasts with leap in profits

High profit and progress on the integrations of collapsed competitor Credit Suisse were the key takeaways of the bank’s quarterly report.

Business

Italy's Banca Progetto accused of lending to mafia

A court found that companies linked to the ‘ndrangheta mafia were able to access state-backed loans.

Business

AIIB: Multilateral development banks unite to fight climate change

Battling climate change needs both public and private financing, leveraged through multilateral development banks like AIIB, says its president, Jin Liqun. The Asian Infrastructure Investment Bank is working with World Bank, EBRD and other financial institutions to step up projects across the globe.

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