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Economy

Irish state cuts AIB stake in further move towards privatisation

Ireland could entirely offload its stake in the lender this year after nationalising the bank more than a decade ago.

Economy

IMF chief: Eurozone has tools for greater growth if it learns from US

The head of the IMF, Kristalina Georgieva, was speaking at a panel in Davos alongside ECB President, Christine Lagarde.

Business

Italy’s oldest bank makes multi-billion takeover bid for Mediobanca

The deal could potentially help both Monte dei Paschi and Mediobanca maintain a robust capital position, as well as deliver profits.

Business

Sabadell considers move back to Catalonia as BBVA takeover bid looms

The bank did not give a reason for the potential relocation, although it has previously stressed its importance to the Catalan economy.

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Europe News

Exclusive: EU considers lifting oil, gas, transport sanctions on Syria

European countries have been grappling with how to handle new regime following downfall of Bashar al-Assad, with a timeline for lifting sanctions moving onto the agenda.

East-West Connect

Kazakhstan’s digital economy: Fintech growth, cashless payments, and cybercrime prevention

In partnership with MDQ

In this episode of East-West Connect, we look at Kazakhstan’s fintech growth, its shift toward cashless payments, and efforts to combat cybercrime through international collaboration.

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

Shares jump in Italy's Banco BPM after Credit Agricole raises stake

The move from Crédit Agricole could complicate UniCredit's bid to take over the smaller Italian lender.

Business

French bank previously owned by HSBC plans to slash 1400 posts

CCF, formerly HSBC France, is planning to cut 36% of its workforce and close a third of its branches.

Business

UniCredit takeover could cost thousands of jobs, warns Banco BPM boss

The smaller Italian lender had previously flagged "serious concerns" about the "employment and social impacts" of a potential merger.

Business

Back to 2008? UK proposes looser rules around banker bonuses

Bankers should be able to receive bonuses faster, say regulators - moving away from post-crisis caution.

Business

Banco BPM says surprise Unicredit bid undervalues potential

The bid from the larger Italian lender "does not reflect in any way the profitability and further potential to create value for Banco BPM shareholders", it said in a statement.

Business

UniCredit makes surprise offer for Italian rival Banco BPM

The €10bn offer, which would merge two of Italy’s largest lenders, comes while UniCredit is building up its stake in Germany’s Commerzbank.

Business

Cross-border payments still not easy enough, says Revolut Europe CEO

Launched in 2015, Revolut announced earlier this month that it had hit the 50 million customer mark globally, emerging as the most downloaded financial app in Europe.

Economy

Eurozone business activity contracts: Euro tumbles to 2-year lows

Eurozone business activity fell sharply in November, with services joining manufacturing in contraction. The Composite PMI hit 48.1, signalling the steepest decline since January. The euro and bond yields weakened, while equities turned red, with banks witnessing sharp declines.

Business

BBVA-Sabadell merger: Can new commitments ease antitrust fears?

BBVA has pledged key measures, including branch retention and SME credit guarantees, to ease antitrust concerns over its merger with Sabadell. While regulators cite risks to competition and rural access, the deal could reshape Spain's banking sector if approved.

Business

European mobile payment system Wero launches in Belgian banks

Wero, the new European mobile payment system, has launched in Belgian banks this week.

Climate

COP29: Tracking climate finance and global commitments

World leaders and negotiators at the UN climate conference are grappling with the challenge of setting a new climate finance target to meet the trillion-dollar costs of helping lower-income nations adapt to climate change.

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.

EU Decoded

EU DECODED: Will the Digital Euro strengthen financial security?

In this episode we talk about a new payment method that is being studied by the European Central Bank: the digital euro. Do we need another alternative for online payments and could this project have negative impacts on the banking system?