UniCredit appoints chair for Italy April 13, 2010 UniCredit has decided to appoint a chairman for Italy as the bank folds all its domestic units into one. Italy’s second-biggest bank by retail branches said in a statement that Gabriele Piccini, head of the Italy retail network, would be country head from 1 November in the revamped group which sees seven separate Italian banking [...]
German retail, manufacturing indicators improve sharply December 1, 2010 GERMANY’S retail and manufacturing sectors substantially improved in October and November, indicating a robust recovery in Europe’s biggest economy, figures showed today. German retail sales rose by 2.3 per cent in October, their biggest month-on-month gain in almost three years, according to official figures. The rise was the strongest monthly gain since January 2008 and [...]
Lift in mining stocks helps boost Europe November 25, 2010 EUROPEAN shares ended higher on yesterday, with heavyweight mining shares boosted by rising metals prices and bid interest in Capital Shopping Centres lifting the real estate sector. The pan-European FTSEurofirst 300 index of top shares ended 0.5 per cent higher at 1,092.80 points, though trading was light as US markets were closed for the Thanksgiving [...]
UNICREDIT’S PROFUMO BACKS THE EURO May 24, 2010 THE chief executive of UniCredit, Italy’s biggest bank, Alessandro Profumo said there was little chance of the euro failing despite what he called weak political leadership. He said: “We can see a two per cent risk. The euro will continue to remain alive.” Profumo added: “There aren’t leaders with a strong European commitment”.
MARKETS REJECT IRELAND BAILOUT November 29, 2010 MARKETS rejected the €85bn (£71.6bn) bailout of Ireland yesterday, as traders turned their attention to those countries they think could be next: Portugal, Spain and Italy. EU finance ministers had hoped the deal would inspire confidence, but the FTSE closed down two per cent to its lowest level in two months, while the US’ Dow [...]
MARKETS REJECT IRELAND BAILOUT November 29, 2010 MARKETS rejected the €85bn (£71.6bn) bailout of Ireland yesterday, as traders turned their attention to those countries they think could be next: Portugal, Spain and Italy. EU finance ministers had hoped the deal would inspire confidence, but the FTSE closed down two per cent to its lowest level in two months, while the US’ Dow [...]
Standard gets 98.5 per cent rights backing November 7, 2010 STANDARD Chartered said investors representing 98.5 per cent of its shares signed up for its $5.3bn(£3.3bn) rights issue, which will boost the Asia-focused bank’s capital ahead of tougher global rules. Standard Chartered yesterday said it had received valid acceptances in respect of 256.7m shares offered to shareholders. Bookrunners will sell the shares not taken up, [...]
HSBC in $9bn suit over Madoff fraud December 6, 2010 HSBC is being sued for at least $9bn (£5.7bn) for allegedly aiding Bernard Madoff’s $65bn Ponzi scheme. Irving Picard, the court-appointed trustee charged with liquidating Madoff’s investment firm and recovering funds for its victims, alleges 24 counts of financial fraud and misconduct against HSBC and its affiliates. The lawsuit filed on Sunday claims HSBC helped [...]
HSBC in $9bn suit over Madoff fraud December 6, 2010 HSBC is being sued for at least $9bn (£5.7bn) for allegedly aiding Bernard Madoff’s $65bn Ponzi scheme. Irving Picard, the court-appointed trustee charged with liquidating Madoff’s investment firm and recovering funds for its victims, alleges 24 counts of financial fraud and misconduct against HSBC and its affiliates. The lawsuit filed on Sunday claims HSBC helped [...]
WHAT THE OTHER PAPERS SAY THIS MORNING October 28, 2010 FINANCIAL TIMES TOKYO HIT BY CLAIMS OF INSIDER TRADING Japan’s financial regulator and the Tokyo Stock Exchange are investigating recent trading activity following allegations of widespread insider trading ahead of new share issues by Japanese companies. Regulators are examining possible insider trading involving recent share issues where short selling activity increased substantially in the run-up [...]