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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?

Earth 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.

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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.

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.

Earth 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?

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