Middle Eastern wealth funds are facing greater U.S. scrutiny as part of a pushback on entities potentially having closer ties to China, Bloomberg News reported on Friday.
Italian banks and the sector’s unions on Thursday signed a new labour contract that will increase workers’ pay on average by a gross 435 euros ($474) a month starting from December, the main banking union said.
The placement of a 25% stake in Monte dei Paschi di Siena (MPS) by Italy’s Treasury earlier this week could serve as a template for Rome’s strategy to cut its stake in other state-controlled companies, the economy minister said on Thursday.
Barclays is working on plans to save up to 1 billion pounds ($1.25 billion), which could involve cutting as many as 2,000 jobs, mainly in the British bank’s back office, a person with direct knowledge of the proposals told Reuters.
Asset manager NZ funds has made a 300% return on its bet that the price of uranium would benefit from supply shortages arising from growing geopolitical tensions between the U.S., Russia and China and from a global push to ditch fossil fuels.
Russian private lender Sovcombank has applied to the U.S. Treasury for a licence to make membership payments to a United Nations climate funding programme while its activities are blocked by U.S. sanctions, a senior bank executive told Reuters.
British bank Virgin Money missed full-year profit forecasts on Thursday, after it set aside more cash to cover loan defaults as stubborn inflation and steep borrowing costs squeeze household finances.
Crypto-focused bank Silvergate Capital said on Wednesday it had fully repaid all remaining deposit liabilities, following the bank’s decision earlier this year to wind down operations.
Banco Popular’s shareholders and creditors suffered a setback on Wednesday after Europe’s second highest court said they were not entitled to compensation as a result of the bank’s rescue more than six years ago.
