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Business

Commerzbank to cut jobs and boost profits in bid to fend off UniCredit

The German bank is seeking to bolster its financial strength as Italy’s UniCredit vies for a takeover.

Earth News

Why are big American banks abandoning a global climate alliance?

Major US and Canadian banks have abandoned an industry-led climate alliance aimed at aligning net zero targets with global goals.

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.

Europe News

Open markets and global finance system will endure, says AIIB

Earlier this week, Trump slapped tariffs on Canada and Mexico, only to put them on hold a day later, after the governments in both countries promised action to improve controls at their respective border with the U.S.

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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

Commerzbank announces share buyback and record earnings

The update comes as the bank is fending off a takeover from Italy’s UniCredit.

Business

Deutsche Bank shares plunge as it drops 2025 cost target

Deutsche Bank posted lacklustre earnings in the last quarter of 2024, as higher litigation costs significantly eroded profit margins.

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.

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.