Finance

Spanish bank BBVA caught markets by surprise on Thursday after it announced a rare hostile takeover bid for domestic rival Banco Sabadell, with one investment firm describing the situation as “very strange.” The move comes shortly after a separate 12 billion euro ($12.87 […]

HONG KONG (AP) — Asian shares were mixed on Thursday after Wall Street’s lull stretched into a second day, with Chinese benchmarks rising after China reported better than expected trade figures for April. U.S. futures were slightly lower and oil […]

May 9 (Reuters) – JPMorgan’s (JPM.N), opens new tab Australian arm has been fined A$775,000 ($509,252.50) for allowing suspicious client orders to be placed on wheat futures trading designed to manipulate the market, the country’s corporate regulator said on Thursday. The Australian […]

LONDON, May 9 (Reuters) – Investment bank Lazard Ltd (LAZ.N), opens new tab has appointed veteran healthcare dealmaker Michele Colocci as vice chairman and managing director, aiming to boost the growth of its healthcare advisory, according to a company announcement. Colocci, former […]

MADRID/BARCELONA, May 9 (Reuters) – Spain’s government opposes BBVA’s (BBVA.MC), opens new tab hostile takeover bid for its smaller rival Sabadell (SABE.MC), opens new tab, Economy Minister Carlos Cuerpo said on Thursday. Under Spanish law, the Economy Ministry has the power to block […]

MILAN, May 7 (Reuters) – Banco BPM (BAMI.MI), opens new tab said on Tuesday it may raise its earnings per share guidance for the year after posting a higher than expected first-quarter net profit. Italy’s third-largest bank reported a net profit of […]

LONDON, May 8 (Reuters) – Britain’s Financial Conduct Authority should focus on its core role of keeping markets orderly, and not send the wrong signals to investors with ‘naming and shaming’ proposals, UK financial services minister Bim Afolami said on Wednesday. The […]

The shares of UBS were sent through the roof after the Swiss bank reported that it returned to profitability in the first quarter of 2024, for the first time since it took over its former rival Credit Suisse in June 2023. […]

China International Capital Corp is planning to demote some of its senior bankers and cut their pay, people with knowledge of the matter said, an unusual move that could lead to voluntary departures from one of the country’s largest investment banks. CICC […]

China’s overseas vehicle shipments are set to grow at a clip this year, bolstered by surging sales in markets like Southeast Asia and the Middle East, as the country’s heft in developing and manufacturing electric cars goes from strength to strength. Curbs […]