LONDON, May 3 (Reuters) – HSBC (HSBA.L), opens new tab has no current plans to sell more assets, its chairman Mark Tucker said on Friday at the annual shareholder meeting of the bank, which has scaled back its presence in Western markets in recent years as part of a sweeping overhaul. HSBC shareholders met in London days […]
Nationwide building society is lined up to take over its smaller rival Virgin Money after the pair formally agreed a deal worth £2.9bn. The acquisition, which will solidify Nationwide’s position as the UK’s second-largest mortgage lender, will also trigger the resignation of Virgin Money boss David Duffy, and is likely to lead to job cuts […]
Barclays is being accused by environmental groups of greenwashing after helping to arrange €4bn (£3.4bn) in financing for the Italian oil company Eni in a way that allows them to qualify towards its $1tn sustainable financing goal. Environmental groups have said the London-based bank is deliberately misleading the public by labelling the financial instruments as […]
May 2 (Reuters) – A U.S. Department of Justice (DoJ) investigation into TD Bank (TD.TO), opens new tab is focused on how Chinese drug traffickers and crime groups used the Canada’s second-largest lender to launder their money from fentanyl sales, the Wall Street Journal reported on Thursday. The bank disclosed last year that it was cooperating with authorities in […]
Travel firm Viking Holdings said on Monday it was seeking to raise up to $1.33 billion in an upsized initial public offering in the United States. The company and some of its existing shareholders plan to sell 53 million shares, 9 million more than their previous offering after some selling investors decided to offer more […]
Chubb CB 0.52%increase; green up pointing triangle, the insurer of the collapsed Francis Scott Key Bridge in Baltimore, is preparing to make a $350 million payout to Maryland, paying the full amount of the coverage quickly rather than waiting for the rebuilding to begin. The check, which is the upper limit of the state’s coverage for the structure, would […]
May 2 (Reuters) – National Australia Bank (NAB.AX), opens new tab posted a double-digit drop in first-half earnings on Thursday but talked up the strength of the economy and said a margin-crunching struggle for the vital home loan market showed signs of easing. The first of Australia’s big four banks to front up to investors this reporting […]
NEW YORK, April 30 (Reuters) – Citigroup (C.N), opens new tab CEO Jane Fraser told shareholders on Tuesday that U.S. consumers are becoming more cautious with their spending and making smaller purchases. U.S. borrowers earning lower incomes are increasingly struggling to keep up with loan payments, prompting banks to become more cautious about issuing credit cards and car loans. […]
Bitcoin slid to its lowest level in over two months to kick off May, as the Federal Reserve held interest rates steady. The cryptocurrency at one point dropped 5% to $56,526.00, its lowest level since Feb. 27, according to CoinMetrics. It was last lower by about 4% at $56,954.13. Investors have been focused on the latest […]
Carey Halio, Goldman Sachs’ head of strategy and investor relations, is getting promoted to global treasurer at the bank, according to people familiar with the matter. Her new role, effective June 1, encompasses authority over the firm’s more than $1.6 trillion balance sheet, with responsibilities including overseeing the firm’s liquidity, funding and capital. She will report to […]