Category: Uncategorized
US scrutinizes Russia accounts UBS took over from Credit Suisse
Reuters The United States is pursuing an inquiry into Russian clients that UBS took on when it bought Credit Suisse, three people familiar with the matter told Reuters, heightening scrutiny of one of the world’s biggest wealth managers. Why it matters The news of the inquiry by the globe’s most powerful sanctions enforcer OFAC highlighted…
Read MoreCommerzbank considers buying domestic rival in UniCredit defence plan
Reuters Commerzbank is weighing the acquisition of a mid-sized German bank as part of its strategy to fend off a possible takeover by Italy’s UniCredit, three people with knowledge of the matter told Reuters. The deliberations of an acquisition are at an early stage and possible targets could include Hamburg Commercial Bank (HCOB) or Oldenburgische…
Read MoreAllianz weighs options for AllianzGI unit
Reuters Allianz, one of Europe’s biggest insurers, is weighing options for its Allianz Global Investors unit, including a possible merger or partial sale of the division, four people with knowledge of the matter told Reuters, in a move that would give the business greater scale. AllianzGI, which oversees 555 billion euros ($560 billion) of assets…
Read MoreCarlyle quits bidding process for Thyssenkrupp marine arm
Reuters Private equity firm Carlyle has dropped out of a process to buy the marine division of German conglomerate Thyssenkrupp, marking the latest blow to the firm’s ongoing restructuring efforts, Reuters exclusively reported. Thyssenkrupp shares fell as much as 4.5% on the news. Why it matters Carlyle’s withdrawal as a suitor for Thyssenkrupp Marine Systems…
Read MoreRyanair raises summer fare outlook as ‘ugly scenario’ avoided
Reuters Reuters was first to report that Ryanair CEO Micheal O’leary no longer sees a risk of double-digit percentage falls in fares as the European short-haul weakness had “levelled out”. The post Ryanair raises summer fare outlook as ‘ugly scenario’ avoided appeared first on Reuters News Agency. https://www.reutersagency.com/en/reutersbest/article/ryanair-raises-summer-fare-outlook-as-ugly-scenario-avoided/
Read MoreCustody giant State Street expands crypto services in new partnership
Reuters Reuters was first to report on State Street’s partnership with Swiss crypto company Taurus to offer new digital asset services, including turning real-world assets into tradeable tokens, to tap growing institutional demand for such investments. Through the partnership, State Street, which provides crypto fund administration and accounting services, will hold clients’ crypto assets and…
Read MoreOPEC+ sticks to oil policy, repeats could pause Oct hike
Reuters Reuters was first to report that a meeting of top OPEC+ ministers kept oil output policy unchanged including a plan to start unwinding output cuts from October. The oil producing group took the decision despite sharp oil price falls in recent weeks amid global demand concerns. Brent crude futures fell on the news settling…
Read MoreSome investors demand change at LVMH after probe into Dior contractors
Reuters Reuters exclusively reported that Europe’s top asset manager Amundi and other LVMH investors want the $370 billion luxury behemoth to take more aggressive steps to monitor its suppliers’ treatment of workers after Italian prosecutors disclosed alleged sweatshop-like conditions at subcontractors for high-end brand Dior. The post Some investors demand change at LVMH after probe…
Read MoreBosch weighs offer for appliance maker Whirlpool
Reuters Reuters exclusively reported that German engineering group Robert Bosch is weighing a bid for U.S. appliances manufacturer Whirlpool, a move that would boost its position in the household appliances market. The post Bosch weighs offer for appliance maker Whirlpool appeared first on Reuters News Agency. https://www.reutersagency.com/en/reutersbest/article/bosch-weighs-offer-for-appliance-maker-whirlpool/
Read MoreNorway gas flow to Britain resumes after repair
Reuters Reuters was first to report that Norwegian pipeline operator Gassco suffered an outage of gas exports to Britain that pushed Europe’s benchmark gas price to its highest level this year. Reuters revealed that the outage was caused by problems onboard an offshore platform, and later also broke the news when the flow of gas…
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