Finance and markets: business, quotes, gold, energy and releases.
Found 1341 articles
The Federal Reserve is set to release its annual bank health check results on Wednesday, yet for the first time in years, these findings will not dictate capital requirements or shareholder payouts. Instead, the exercise serves as a diagnostic pulse check while regulators overhaul their controversial, opaque testing methodology.
Standard Chartered is initiating the sale of its wealth and retail banking arm in Bahrain, marking another step in the London-based lender's strategy to narrow its global footprint. While the bank retreats from consumer segments, it maintains that its corporate and investment banking operations in the country remain untouched.
Swiss Finance Minister Karin Keller-Sutter is pushing for UBS to maintain full core capital backing for its foreign subsidiaries. The move aims to ensure systemic financial stability as the bank cements its position as Switzerland’s only global lender following the 2023 acquisition of its former rival, Credit Suisse.
Banking consolidation serves a purpose, but only if it does not erode the competitive landscape, according to Luigi Lovaglio. The Monte dei Paschi CEO argued on Tuesday that the health of the Italian financial system depends on maintaining diverse players capable of supporting all market segments.
Hong Kong-based activist investor Oasis Management is mounting a challenge to oust Kadokawa CEO Takeshi Natsuno at Wednesday’s annual meeting, arguing the firm has failed to capitalize on the global success of the Elden Ring franchise while presiding over a sharp decline in profitability.
Elon Musk has reached the trillion-dollar milestone by systematically discarding conventional business logic, rewriting financial norms, and pivoting toward hard-right political activism. This radical departure from traditional executive behavior raises a pressing question: is the SpaceX founder a singular anomaly or the blueprint for a new era of capitalism?
Chairman Martin Sheppard and two senior partners are exiting KPMG Australia, deepening a governance crisis triggered by allegations that staff exploited confidential client data to secure lucrative audit contracts. The move follows the earlier resignations of the firm’s CEO and its audit chief as regulatory scrutiny intensifies.
Auction clearance rates have plunged below 50% across Australia, marking their lowest point since the pandemic. The sharp downturn follows the government's decision to scrap capital gains tax discounts and ban negative gearing for existing housing, effectively dismantling the tax incentives that fueled the nation’s long-standing property investment obsession.
Germany’s largest power producer is shifting its strategic foundation by acquiring a majority stake in grid operator Amprion for €3.6 billion. The move, intended to stabilize earnings against volatile energy markets, transforms regulated infrastructure into the company’s third primary business pillar alongside renewables and gas-fired generation.
Alan Greenspan, the enigmatic architect of U.S. monetary policy who steered the Federal Reserve through nearly two decades of unprecedented prosperity and subsequent financial turbulence, has died at 100. His wife, Andrea Mitchell, confirmed the former chairman passed away at their home following complications from Parkinson’s Disease.
New Federal Reserve Chairman Kevin Warsh is dismantling the central bank's habit of over-communication, signaling a return to the cryptic, market-reliant philosophy of the late Alan Greenspan. By stripping explicit policy guidance from recent statements, Warsh aims to force investors to interpret raw data rather than Fed rhetoric.
As South Africa’s FirstRand scrambles to exit the British market, Lloyds Banking Group has emerged as a potential suitor for the challenger bank Aldermore. The move comes as the UK banking sector grapples with the fallout of a sprawling motor finance mis-selling scandal that has already triggered massive financial provisions.
The inflation shock currently gripping the euro zone is too significant to ignore, yet it remains insufficient to trigger a destabilizing wage-price spiral or unmoor long-term expectations, European Central Bank President Christine Lagarde told lawmakers on Monday.
A potential oil supply shock in the Strait of Hormuz could accelerate electric vehicle adoption, shaving up to 0.32 million barrels per day off global oil demand by late 2027. This shift hinges on whether current sales momentum persists or plateaus in the world's largest automotive markets.
Building materials giant CRH has moved to consolidate its market position, announcing an $8.5 billion all-cash agreement to acquire infrastructure-products provider Arcosa. The deal, priced at $150 per share, marks a significant premium for the Dallas-based company as CRH looks to bolster its footprint in the construction sector.
A winning bid of 93.2 billion roubles for a controlling stake in gold producer Uzhuralzoloto has signaled a pivot for industrialist Ruslan Baisarov. Having secured the state-seized assets formerly held by Konstantin Strukov, Baisarov’s BTS-Most Holding is now positioning itself to aggressively expand across the Russian metals industry.
British Prime Minister Keir Starmer resigned on Monday, plunging the UK into a fresh political crisis. His departure follows a decisive by-election victory by Labour Party challenger Andy Burnham, who is now the clear favorite to become the seventh British prime minister in just ten years.
The Italian government has cleared a regulatory hurdle as UniCredit officially withdrew its challenge against conditions imposed on its proposed acquisition of Banco BPM. A filing from the Council of State confirms the administrative court dismissed the case on May 31, effectively closing the dispute between the bank and state authorities.
Germany’s government signaled that any attempt by UniCredit to take Commerzbank private remains structurally unviable as long as Berlin holds its stake. Officials argue that a forced squeeze-out of minority shareholders is effectively impossible under the current ownership landscape, casting doubt on the Italian lender's aggressive acquisition strategy.
Standard Chartered has upgraded Asia ex-Japan equities to overweight, positioning Taiwan and China as the primary drivers of regional growth. Driven by the surge in AI infrastructure spending and robust chip manufacturing, the bank projects this region will outperform major global markets in earnings through 2027.
Prime Minister Keir Starmer’s shock resignation announcement has sent sterling toward three-month lows, leaving investors to grapple with a leadership vacuum. With the pound down 0.2% at $1.319, markets are bracing for volatility as the UK faces the highest borrowing costs among G7 nations.
The Bank of England has overhauled its regulatory framework for stablecoins, abandoning a controversial cap on individual holdings in favor of a £40 billion limit on total issuance per asset. This strategic shift aims to foster innovation while addressing industry concerns that previous proposals would stifle the growth of sterling-backed digital currencies.
Germany’s budget committee convenes this June 24 to authorize a 40% stake acquisition in tank manufacturer KNDS, a move critical to the company’s planned July public offering. This strategic purchase aims to solidify Berlin’s influence, valuing the defense giant between 15 billion and 18 billion euros.
A 14% slide in WiseTech Global shares on Monday followed widespread reports that the Australian Federal Police are investigating executive chairman Richard White. The billionaire founder faces allegations of exploiting a woman’s immigration status for sexual purposes and providing false information to government authorities to secure a visa.
A decade after the Brexit referendum, London’s financial district remains a global heavyweight despite early predictions of a mass exodus. While the City has surrendered market share and faced significant administrative friction, a combination of record bank profits and aggressive deregulation has preserved its status as a premier international capital gateway.
Workers within the Toronto-Dominion Bank’s financial crimes and risk management division were recently informed that management is deploying WorkiQ software to monitor their digital activity. The move, intended to track time spent on browsers and internal applications, has sparked immediate internal debate regarding workplace privacy and the necessity of such oversight.
Havana residents are balancing skepticism against the necessity of survival as the government enacts its most significant market reforms in decades. By opening restricted sectors to private and foreign investment, the state signals a departure from its rigid Soviet-style economic model toward a framework reminiscent of Vietnam or China.
A 10-billion-euro bid to reshape the ownership of Delfin Sarl has hit a wall, as Leonardo Maria Del Vecchio publicly accused the holding company’s board of stifling negotiations with lenders. The 31-year-old heir claims internal division is preventing the financing required to consolidate his stake in the family firm.
UK-based private equity firm Pollen Street Capital confirmed its acquisition of Finastra’s Universal Banking business on Friday, marking a significant shift for the global core banking software provider. While the financial terms of the transaction remain undisclosed, the move places the unit under independent management following the deal's completion.
Investors have tendered shares representing 12.51% of Commerzbank capital under UniCredit’s takeover bid, marking a incremental shift in the ongoing ownership battle. This brings the Italian lender's total stake to 42.5%, a figure bolstered by previously held equity and share-settled derivatives.