OSLO, May 4 (Reuters) – Norway’s $1.6 trillion sovereign wealth fund, one of the world’s largest investors, supports the reappointment of Barclays (BARC.L), opens new tab CEO C.S. Venkatakrishnan and Chair Nigel Higgins to the British bank’s board, the fund manager said on Saturday. Norges Bank Investment Management (NBIM) will also support Barclays’ proposed bonus policy change […]
MADRID, May 6 (Reuters) – Sabadell’s (SABE.MC), opens new tab board will meet on Monday to discuss an all-share offer from larger Spanish bank BBVA (BBVA.MC), opens new tab that was worth around 12 billion euros ($12.9 billion) when announced last week, two sources familiar with the matter said. BBVA said on May 1 it had proposed offering one newly issued […]
(P&GJ) — ExxonMobil has finalized its acquisition of Pioneer Natural Resources Company, marking a significant transformation in its upstream portfolio. The acquisition, finalized on May 3, sees ExxonMobil more than doubling its footprint in the Permian Basin, combining Pioneer’s substantial acreage and industry expertise with ExxonMobil’s technological prowess and financial strength. This merger creates an […]
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 […]