UNICREDIT ASSETS
Russia seizes Deutsche Bank, UniCredit assets
A Russian court in Saint Petersburg rules to seize 239 million euros from Deutsche Bank and 463 million euros from UniCredit in Russia. European banks exit after Moscow's 2022 offensive on Kyiv. The court decision follows a request from RusKhimAlians planning a gas project with German company Linde, affected by Russia's military assault.
Global markets watch for fallout as Middle East tensions rise
S&P 500 E-Mini futures edged up after they opened on Sunday, last up 0.2%, while oil prices were virtually unchanged.
Russia bans Western investors from selling banking, key energy stakes
Western countries and allies, including Japan, have piled financial restrictions on Russia since it sent troops into Ukraine in late February. Moscow retaliated with obstacles for Western businesses and their allies leaving Russia, and in some cases seized their assets.
UniCredit, Citi consider swapping assets with Russian institutions - FT
UniCredit has received several offers from Russian financial institutions to buy its local subsidiary since its chief executive, Andrea Orcel, said in March it was considering pulling out of the country, the newspaper reported, citing unnamed people familiar with matter.
Retreat from Russia riddled with risks for Western banks
There is a growing realisation that these sanctions are likely to remain long-term, industry sources told Reuters, which means strategic not just tactical decisions are needed as executives look to protect hard-won improvements to their credibility since the global financial crisis.
UniCredit considers quitting Russia, Credit Suisse outlines Russian wealth clients
A growing list of financial firms are looking to exit Russia, with Deutsche Bank, Goldman Sachs and JPMorgan Chase winding down business there. Others are under pressure from investors to detail their financial exposure to Russia.
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The extent of global banks' Russian exposure
Investors worry banks will again need to hike loan loss provisions, which had been declining after the pandemic-driven spike in 2020. The crisis is also reducing the chances of higher interest rates, which would have boosted income from lending.
Could the Ukraine invasion spark a global financial crisis?
The sanctions include: removing some Russian banks from the Swift messaging system for international payments; freezing the assets of Russian companies and oligarchs in western countries; and restricting the Russian central bank from using its US$630 billion (£473 billion) of foreign reserves to undermine the sanctions.
Russia seeks to halt investor stampede as sanctions hammer economy
Russian Prime Minister Mikhail Mishustin announced the country will temporarily stop foreign investors from selling Russian assets to ensure they take a considered decision, but did not give details. Moscow's move to impose capital controls mean that billions of dollars worth of securities held by foreigners in Russia are at risk of being trapped.
European shares gain ahead of big week for central banks
The pan-European benchmark STOXX 600 was up 0.3% at 476.88 points, as of 0826 GMT. Asian stocks tracked Wall Street gains after U.S. inflation data, which was well within market expectations, sent the S&P 500 to all-time high on Friday.
Life after the ECB? The tapering debate begins
The ECB has provided record monetary support for the euro zone since the start of the pandemic. But economic growth in the bloc is now solid, unemployment is falling and inflation is on the rise, setting the stage for a debate that will chart the bank's course for years to come.
Life after the European Central Bank? The tapering debate begins
Furthermore, the ECB has undershot its inflation target for almost a decade, so investors are already doubting its commitment, making the withdrawal of support especially risky.
Tech gains keep European stocks just below record highs
The pan-European STOXX 600 index rose 0.5% to 474.5, holding two points below its all-time high after a weaker-than-expected U.S. jobs data last week boosted hopes of a delayed start to tapering by the Federal Reserve.
European stocks slip as US jobs caution offsets strong regional data
The pan-European STOXX 600 index was down 0.1% but held below its all-time high and was on track for a slim weekly rise.
A Wall Street guide to trading Europe ahead of US election
Treasury yields surged this week as traders started pricing in a resounding Democrat victory that all but removes the risk of a disputed vote and the volatility that would come with it. It may also spare the world from another wave of protectionist U.S. policy, which would boost the euro.
This red alert is now flashing on the bond trader’s radar screen
The US gauge is now on track for the biggest three-month increase since late 2016.
European shares tumble amid trade tensions
The pan-European STOXX 600 index had dropped 0.7 percent by 0720 GMT, touching a fresh four-week low.
Banks and autos drive European shares higher as UniCredit shines
The Italian index rose 0.6 per cent, out-doing the pan-European STOXX 600 which gained 0.3 per cent.
Government fears Sebi's 10 per cent cross-holding cap may hit PSUs
The four public sector financial services firms have their own fund houses and will have to dilute their stake in one of the entities.
Bank of Baroda to buy out JV partner's entire stake in mutual fund business
State-owned Bank of Baroda will fully acquire its mutual fund and trustee business and buy the entire 51 per cent stake held by the joint-venture partner UniCredit.
Shareholders approve Italian bank UBI's conversion into joint-stock company
Shareholders in Italian cooperative bank UBI approved on Saturday its conversion into a joint-stock company as requested by a government reform.
Low inflation back in focus at ECB policy meeting
The European Central Bank may have to consider fresh policy measures to prevent deflation in the single currency area, but will not move at its meeting Thursday, analysts said.
New risk rule could end up punishing wrong banks
The quirk is the result of risk weighting, the mathematical models that treat trading assets as safer than corporate or consumer lending.
Banks urge Basel Committee U-turn on asset-based debt
Banks from Deutsche Bank to Barclays attacked proposals to overhaul global cap rules for asset-backed debt, saying they risk choking securitisation while clashing to boost lending to biz.
Baroda Pioneer Mutual Fund plans fund of funds scheme
Baroda Pioneer Mutual Fund is mulling to come up with a fund of funds scheme to provide investors an opportunity for diversification.
Goldman Sachs forecasts record riskless return from gold
Gold provided best returns of all commodities in past 5 yrs when adjusted for volatility, & Goldman Sachs says the rally will continue.
US August jobs data may signal recession
The economy is faltering, including slowing manufacturing, plunging consumer confidence, falling home values and lower bond yields and stock prices.
Markets to issue verdict on stress tests on Monday
European bank stress tests will themselves be tested on Monday when investors return to markets in Europe and Asia with a verdict on an unprecedented bid to restore confidence in the EU banking sector.
Pramerica gets SEBI nod for MF biz; to launch products in June
Pramerica Asset Managers today said it has received market regulator SEBI's approval for starting mutual fund operations in the domestic market.
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