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.

29 October 2024

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.

29 October 2024

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.

29 October 2024

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.

24 October 2024

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.

24 October 2024

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.

22 October 2024

Business

AIB bucks the online trend with plans to invest in branch upgrades

AIB, one of the largest Irish banks, is planning a multi-million euro refit of its branches as it seeks to reiterate its commitment to maintaining its strong branch network in Ireland.

22 October 2024

Business

Swiss regulator orders UBS to strengthen emergency protocol

The bank must step up its risk management given the takeover of Credit Suisse, according to the regulator FINMA.

15 October 2024

Economy

German firms struggle to secure loans as economic uncertainty persists

Hesitancy from German banks is at its highest level in seven years, according to the IFO.

15 October 2024

Italy

Italian banker accused of hacking 3,500 accounts, including Meloni's

A former Intesa Sanpaolo employee has illegally and repeatedly accessed the accounts of the Italian premier, numerous politicians and law enforcement officers, authorities said Thursday.

11 October 2024

Business

France mulls business tax hikes: What does it mean for investors?

The new levy, if accepted by parliament, could cost more than one-fourth of the expected growth in earnings for the biggest companies traded on the French stock exchange, according to a report.

3 October 2024

Business

Wero set to become Europe's first unified payment solution

Wero is set to become Europe's first sovereign payment solution as a key rival to Visa and Mastercard. Its rapid expansion and access to the Single Market positions it as a strong alternative to the US-based networks.

30 September 2024

Business

Commerzbank in larger payout pledge ahead of UniCredit talks

The German lender is lifting profit targets and shareholder rewards as Italy's UniCredit contemplates a merger.

26 September 2024

Business

Commerzbank takeover: Germany questions UniCredit's 'hostile' strategy

UniCredit's bid to raise its stake in Commerzbank to 29.9% faces German resistance. The European Commission sees potential benefits in consolidation, while analysts predict significant financial synergies.

25 September 2024

Business

Takeover target Commerzbank gets new CEO as UniCredit circles

Bettina Orlopp is to replace Manfred Knof 'in the near future'. The news comes days after Italian bank UniCredit revealed it had increased its stake in Commerzbank from around 9% to 21%, subject to regulatory approval.

25 September 2024

Economy

Banks unprepared for next financial crisis, warns new report

Banking regulations must be tightened to ensure financial stability, says Brussels-based NGO Finance Watch. But, it warns, political will is lacking.

24 September 2024

Business

UniCredit raises stake in Germany's Commerzbank to 21%

If the deal wins approval, it will make the Italian bank Commerzbank's largest shareholder - to the dismay of the German government.

23 September 2024

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.

6 September 2024

Business

Why the German government looks set to reduce its stake in Commerzbank

Commerzbank has emerged from financial distress, prompting the state to sell down its €2.5 billion stake.

4 September 2024

Business

Revolut unveils new bill payment facility for businesses

Fintech company Revolut has unveiled a new bill payment facility for businesses after announcing a secondary share sale, in order to offer more liquidity to its employees.

4 September 2024