Europe
Weekly Global News Wrap: Citi to cut 20,000 jobs in two years; Spain’s BBVA expects higher dividend payout
Weekly Global News Wrap: Citi to cut 20,000 jobs in two years; Spain’s BBVA expects higher dividend payout
And crypto firms in UK are introducing new risk assessment and profile tests ahead of stricter regulations.
Weekly Global News Wrap: Citi to exit distressed-debt trading business; Korea seeks to fine HSBC, BNP Paribas
And Germany seizes $790m from the bank account of a Russian financial institution.
Weekly Global News Wrap: JPMorgan Chase to open more branches; EU banks make record payouts
And Portugal’s Novo Banco reportedly exploring potential tie-up with WiZink.
Japan’s JCB boosts card acceptance in France with FrenchSys partnership
French acquirers need to perform less certification before they can accept JCB cards.
Swiss Fintech Rides High with Fresh Strengths – Time for Onshore Collaboration?
In economic & business cycles, asset prices gyrate from time-to-time. Many fresh opportunities also emerge from these cycles.
Mizuho launching universal bank in Europe, to close offices in 4 cities
The new bank will be based in Amsterdam, with offices in Frankfurt, Madrid, and Paris.
Weekly Global News Wrap: Morgan Stanley rolling out gen AI support for FAs; Russia’s Sovcombank sues HSBC to recover debt
And private equity firms allege fraud as they seek $750m from Morgan Stanely.
Weekly Global News Wrap: Rothschild & Co takes one step closer to going private; Ant Group may be fined $1b
And UBS makes changes in global wealth management business.
Weekly Global News Wrap: Credit Suisse faces lending restrictions; Italy seeks stalemate over e-payment cost reduction talks
And JPMorgan Chase unlikely to buy another struggling bank, says CEO Jamie Dimon.
Weekly Global News Wrap: Grupo Mexico closing in on $7b Citi Banamex deal; Bank of America opens Luxembourg branch
And Credit Suisse CEO to join UBS board once deal is completed.
Weekly Global News Wrap: Credit Suisse chairman apologises to shareholders; EU banks must be “conservative” with dividends, payouts
And JPMorgan Chase & Co CEO Jamie Dimon said banking crisis not yet over.
Weekly Global News Wrap: UBS appoints Sergio Ermotti as group CEO; French authorities search banks on suspicion of fiscal fraud
And a top US regulator said Silicon Valley Bank did a terrible job of managing risk.
Weekly Global News Wrap: Credit Suisse’s $17.2b of bonds written down to none; Credit Suisse says clients may want to move assets after merger
And Hong Kong pushes to become a virtual asset hub.
UBS buys Credit Suisse in “emergency rescue”
The $3.2b acquisition has the full support of Swiss financial regulators, UBS said.
Weekly Global News Wrap: US regulators warn banks on liquidity risks from crypto deposits; Wells Fargo lays off hundreds of mortgage bankers
And Europe bank stocks could still rally higher, analysts said.
Weekly Global News Wrap: Wells Fargo slimming down mortgage business; Swiss central bank reports biggest annual loss ever
And US banks expected to report lower earnings as they brace for economic slowdown.
For French fintechs, Asia is a land of opportunities and learning
Compared to Europe, fintechs in Asia have struck a balance with banks, says Bpifrance Deputy CEO Arnaud Caudoux.
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