LONDON, June 20 (Reuters) – NatWest (NWG.L), opens new tab has struck a deal to acquire most of the banking business of UK retailer Sainsbury’s (SBRY.L), opens new tab, the companies said on Thursday, in a deal that would increase the British lender’s assets by 2.5 billion pounds ($3.2 billion). The first major transaction executed by NatWest Chief […]
National Bank of Canada NA -0.01%decrease; red down pointing triangle agreed to acquire Canadian Western Bank CWB 0.50%increase; green up pointing triangle in a share-swap deal valued at about 5 billion Canadian dollars ($3.63 billion), aided by a sizable investment from one of North America’s biggest pension funds. The transaction, pending regulatory approval, would give Montreal-based National Bank — the smallest of […]
Investment managers view generative artificial intelligence (GenAI) as the “holy grail” to create value, but the availability of data and cultural change are some of the main challenges, according to a Citigroup executive. The industry has applied AI via a “three-pronged” approach, according to a Citigroup report published this week based on more than 40 […]
WASHINGTON, June 17 (Reuters) – President Joe Biden’s campaign will target Republican challenger Donald Trump’s felony convictions as part of a $50 million ad campaign ahead of the first presidential debate between both candidates on June 27. The move, one of the largest advertising spends of the campaign so far, marks a notable shift in Biden’s approach to Trump’s […]
FRANKFURT, June 19 (Reuters) – Hundreds of thousands of bank employees in Europe’s largest economy are fighting for pay increases of up to 16% to cope with rising living costs and unions are warning of possible strikes. Pay negotiations for Germany’s public and private bank employees follow a spike in costs that has hit ordinary […]
June 18 (Reuters) – One of the world’s largest technology funds is set to ramp up its exposure to Nvidia (NVDA.O), opens new tab, which has become the world’s most valuable company following a blistering run in its shares. The $72.34 billion Technology Select Sector SPDR Fund (XLK.P), opens new tab, managed by State Street Global Advisors, […]
PARIS, June 17 (Reuters) – The European Central Bank pays close attention to the smooth functioning of financial markets, ECB President Christine Lagarde said on Monday, after French President Emmanuel Macron’s call for a snap parliamentary vote last week spooked investors. Investors were demanding a 77-basis-point premium for lending to AA-rated France over triple-A Germany […]
LONDON, June 18 (Reuters) – Supporters for more consolidation in the euro zone’s banking sector have been watching Spanish lender BBVA’s (BBVA.MC), opens new tab hostile bid for Sabadell (SABE.MC), opens new tab, alongside comments from some supervisors and lawmakers supporting the idea of more tie-ups. Regulators are keen for more consolidation – both within and across countries – […]
LONDON, June 17 (Reuters) – Talks between Ukraine and its international bondholders designed to cut its debt to help finance its war effort ground to a halt on Monday after the two sides failed to reach an agreement. It means the clock continues to tick down to a potential $23 billion sovereign default later in the summer. […]
HONG KONG, Aug 4 (Reuters) – China and Saudi Arabia’s stock exchanges are in talks to allow exchange-traded funds (ETFs) to list on each other’s bourses, three sources familiar with the matter said, as the countries look to deepen financial ties amid warming diplomatic relations. The talks are in the early stages, said the sources, […]