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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.

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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?

Business

Deutsche Bank to axe more than 100 bankers in attempt to slash costs

Deutsche Bank is reported to be planning to remove more than 100 posts among its senior private wealth and retail bankers in a continuing programme aimed at driving down costs at the German bank.

Markets

Trump trade: What investors need to consider in the long term

Following the euphoria on the stock markets that greeted the victory of President-elect Donald Trump, analysts have been looking at what could do well for investors in the long-term.

Europe News

Play ball on anti-crisis banking laws, EU finance pick tells Trump

In a three-hour hearing held on Wednesday, Maria Luís Albuquerque rejected calls to slash insurance laws to boost the economy, while brushing off conflict-of-interest fears from her own private sector career.

Business

BNP Paribas records boost in net income on strong corporate banking

French banking giant BNP Paribas has announced its third quarter 2024 earnings, posting a higher net income as its corporate and institutional banking department continues to experience robust performance.

Business

Great white hope of EU capital market plans a bust, think tank says

Reviving securitisation, the controversial banking mechanism linked to the 2008 financial crisis, will put taxpayers at risk without boosting lending, Finance Watch said.

Business

Robust retail business gives boost to Banco Santander

Banco Santander's revenue increases, as the bank’s retail, wealth, consumer and payments branches all record strong growth.

Business

HSBC stock rises nearly 4% as it reveals billion-euro share buyback

HSBC reported strong third-quarter earnings, driven by robust performance in wealth and personal banking, as well as investment banking, alongside the announcement of an additional $3bn (€2.8bn) share buyback plan.

World

How Algeria is transitioning to digital payments

In partnership with anep

In this episode of Algeria Tomorrow, we explore how Algeria is gradually transitioning from cash to digital payments.

Business

Italian bank plans huge job cuts as it looks to AI and digitalisation

Intesa Sanpaolo is to cut thousands of jobs and focus on a more resilient business model including more use of artificial intelligence and digitalisation.

Business

HSBC shake-up sees bank operations split between East and West

As part of the re-organisation, HSBC also announced the first-ever female finance chief in the bank's 159-year history. Pam Kau, currently the chief risk and compliance officer, has worked for the bank for more than a decade.