By Alexander Marrow MOSCOW (Reuters) – Already Russia’s dominant lender, state-owned Sberbank has become one of the country’s leading technology players, taking on an increasingly important role as sanctions and exiting rivals create gaps only a handful of firms can fill. Once a Soviet savings behemoth, Sberbank’s image has gradually been transformed under CEO German…
FRANKFURT (Reuters) – Austria’s Raiffeisen Bank International, one of the banks in Europe most exposed to Russia, posted a bigger-than-expected 49% rise in profit in the first quarter. Net profit in the quarter was 657 million euros ($724.28 million), up from 442 million euros a year earlier, the bank said. Analysts had expected profit of…
By Amy-Jo Crowley, Pablo Mayo Cerqueiro and Andres Gonzalez LONDON (Reuters) – Blackstone is weighing options for Spanish gambling company Cirsa, including an initial public offering (IPO), people familiar with the matter told Reuters. The U.S. buyout group recently invited proposals from investment banks to manage a possible share sale and refinancing of Cirsa’s debt,…
(Reuters) – PacWest Bancorp said late on Wednesday that it was in talks with potential partners and investors about strategic options after shares of the lender and several other U.S. regional banks tumbled amid fears of a worsening banking crisis. It has not experienced any unusual deposit outflows since the sale of First Republic Bank…
(Reuters) -Johnson & Johnson’s consumer health spinoff Kenvue Inc rose 16% and fetched a valuation of about $48 billion in its market debut on Thursday, marking the biggest U.S. initial public offering since 2021. Shares of the Listerine mouthwash maker debuted at $25.53 each, compared with their offer price of $22 apiece. J&J sold 172.8…
By Steve Scherer and David Ljunggren OTTAWA, May 4 (Reuters) – Canadian inflation risks getting stuck significantly above the Bank of Canada’s 2% target, and if that happens the central bank is ready to hike interest rates rates further, Governor Tiff Macklem said on Thursday. Last month the Bank of Canada left its key overnight…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank slowed the pace of its interest rate increases on Thursday but signalled more tightening to come in what markets expect to be the final stage of its fight against inflation. All ECB policymakers but one, Austria’s Robert Holzmann, backed the 25-basis-point increase…
(Reuters) -U.S. Senator Elizabeth Warren has accused First Republic Bank executives of “mismanagement” in a letter to its former CEO Micahel Roffler and raised questions on the failed lender’s risk management as well as pay and bonuses. “You owe your customers and the public an explanation for the decisions that resulted in the costly failure…
By Daniel Wiessner (Reuters) – U.S. appeals court judges on Thursday expressed skepticism that Starbucks Corp hurt a union organizing effort when it fired seven leaders, and appeared open to the coffee chain’s argument that doing so did not violate federal labor law. The case involving a Starbucks cafe in Memphis, Tennessee is one of…
MILAN (Reuters) -First quarter sales at Italian fashion group Moncler jumped by 23% at constant exchange rates, beating analysts’ expectations, boosted by Chinese demand and solid growth in the EMEA region. Overall revenues for the three months ending in March totalled 726.4 million euros ($799 million), above a company-provided analysts’ consensus of 689 million euros….
