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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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Business

European Central Bank approves BBVA’s offer for Banco Sabadell

Although the European Central Bank (ECB) has approved this offer, BBVA still needs other regulatory approvals for the acquisition to be completed.

Business

Leaked report shows half of EIB staff fear whistleblowing reprisals

Staff at the Luxembourg-based EIB are hesitant to report incidents of bullying, harassment or fraud - FT.

Green News

Australia’s largest bank pulls funding for fossil fuel companies

CBA has explained that they will stop financing fossil fuel companies that don’t comply with climate goals set out by the Paris Agreement.

Business

Mixed results for Europe's banks and their first half-year earnings

Deutsche Bank's profits were seen as moderate in the first half of 2024 but other major banks including BNP Paribas and Santander posted better-than-expected results.

Money

Europe's rival to Visa and Mastercard soon to roll out in Belgium

US payment giants Visa, Mastercard, PayPal, Apple and Google Pay are getting a new rival in Europe: it's called Wero and it's already available to some consumers in Germany and by the end of July in Belgium - how does it work and what are its features?

Business

Dutch authorities fine Santander over 'irresponsible' lending

This is the second such fine given to the Spanish bank by the Dutch watchdog, which accuses Santander of not gaining enough financial information about some customers, thereby leaving debtors vulnerable.

Culture news

Taylor Swift: British fans scammed more than a million euros

Hundreds of UK fans of Taylor Swift, Coldplay and Beyoncé have been scammed by fake adverts and Facebook posts, further denting people’s trust in the concert industry.

Business

How much did Europe's best-paid bank boss earn last year?

The highest amount went to Swiss bank UBS' CEO Sergio Ermotti, who has overseen the government-brokered rescue of Credit Suisse.

Business

Where do European banks stand in the ranking for strongest brands?

The world’s most valuable brand owner is Chinese ICBC bank and it is worth more than Slovenia's GDP. Meanwhile, Europeans are behind and Russia's lenders continue to plummet.

Markets

Barclays stock rises as bank unveils cost-cutting and buyback plans

Barclays stock gained nearly 5% on Tuesday morning as the bank unveiled to investors its cost-cutting and buyback plans.

Business

Iran used UK bank accounts to evade Western sanctions: FT

Two of the UK's biggest banks, Santander UK and Lloyds, provided accounts to British companies with links to Iran's intelligence services.

Economy

Davos 2024: Ukraine's Zelenskyy set to meet JP Morgan boss

Ukraine is seeking new ways to finance its rebuilding plans as vital aid from the West slows down. President Volodymyr Zelenskyy reportedly has plans to meet JP Morgan's CEO at the World Economic Forum.

Business

BNP Paribas caught up in Cyprus-related money laundering investigation

An ongoing investigation targets a Cypriot brokerage firm, in collaboration with one of BNP Paribas' branches, over alleged 'aggravated money laundering.'

Business

Rabobank gets whopping fine for cartel participation

The European Commission has slapped the Netherlands' Rabobank with a fine worth tens of millions of euros for its decade-long involvement in a cartel with Deutsche Bank concerning the trading of certain euro-denominated bonds.

Business

UBS shares up by 4% despite $785 million loss following Credit Suisse

UBS shares were up by 4% as the Swiss banking giant cut costs faster than expected while moving forward with its merger with rival Credit Suisse.

Business

Who is Ted Pick, Morgan Stanley's new CEO?

After 33 years with the Wall Street giant, Pick will take over as CEO at the start of next year.

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