By Valentina Za and Andrea Mandala MILAN (Reuters) -France’s Credit Agricole has become the single largest investor in Banco BPM after buying a 9.2% stake, raising the prospect of a full takeover bid and sending shares in Italy’s third-largest lender sharply higher. The move increases the French group’s exposure to its main foreign market, where…
By Luc Cohen NEW YORK (Reuters) – A U.S. jury resumed deliberations on Friday in the trial of a former Goldman Sachs banker accused of helping loot billions of dollars from Malaysia’s 1MDB sovereign wealth fund. Prosecutors say Roger Ng, Goldman Sachs Group Inc’s former top investment banker for Malaysia, helped his then-boss Tim Leissner…
MILAN (Reuters) -Proceedings involving Italian bank Unicredit over alleged fraudulent diamond sales will start again from scratch, judicial sources said on Friday, increasing the risk many of the allegations could be dropped due to time limits. An Italian judge decided to transfer the case involving Italy’s second biggest bank and seven of its staff to…
LONDON (AP) — Russia’s central bank has managed to stabilize key aspects of the economy with severe controls, artificially propping up the ruble to allow it to rebound to levels seen before the invasion of Ukraine even as the West piles on more sanctions. That became evident as central bank of Russia said Friday that…
By Ron Bousso LONDON (Reuters) – Shell will write down up to $5 billion following its decision to exit Russia, more than previously disclosed, while soaring oil and gas prices boosted trading activities in the first quarter, the company said on Thursday. The post-tax impairments of between $4 billion and $5 billion in the first…
By Bansari Mayur Kamdar and Praveen Paramasivam (Reuters) -Wall Street was set for a subdued open on Friday as U.S. Treasury yields surged at the end of a volatile week marked by concerns around aggressive moves by the Federal Reserve to tame inflation and the ongoing Ukraine conflict. Some growth and technology stocks slipped in…
(Reuters) – U.S. investors remained net sellers of bond funds in the week to April 6 on rising prospects of rapid reductions to the Federal Reserve’s balance sheet alongside steady increases in policy rates. U.S. investors sold bond funds of $2.24 billion, compared with net withdrawals of $3.86 billion in the previous week, Refinitiv Lipper…
TOKYO (AP) — Japan announced Friday it is expelling eight Russian diplomats and trade officials and will phase out imports of Russian coal and oil, with Prime Minister Fumio Kishida saying Moscow must be held accountable for “war crimes” in Ukraine. Kishida said Japan will also ban imports of Russian lumber, vodka and other goods,…
By Yoruk Bahceli (Reuters) – Euro zone bond yields rose on Friday as traders further ramped up bets on European Central Bank rate hikes this year. Minutes from the ECB’s latest policy meeting, which were more hawkish than expected, had already pushed yields higher after they were published on Thursday. The minutes showed some policymakers…
By Jesús Aguado MADRID (Reuters) – Spain’s Caixabank has adequate provisions to face potential future losses given the current market uncertainty, the bank’s Chief Executive Officer Gonzalo Gortazar said on Friday. A day earlier, the Bank of Spain told lenders to monitor credit risks of customers most exposed to the impact of Russia’s invasion of…
