Business
Found 1341 articles
Institutional investors pivot toward Asian private credit
Institutional investors are pouring capital into Asian private credit as major fund managers secure significant new mandates. Granite Asia recently surpassed its $500 million target for a pan-Asian strategy, while Partners Group locked in a $1 billion mandate, signaling a shift toward a region that remains under-represented globally.
Strait of Hormuz deadlock persists as markets weather the storm
Six months after the conflict began, the Strait of Hormuz remains effectively obstructed, defying initial predictions of a short-lived crisis. While global energy flows are significantly diminished, financial markets have displayed unexpected resilience, with Brent crude prices holding below $90 a barrel despite the persistent geopolitical volatility.
VTB Confirms Timeline for Wildberries Fintech Stake Despite Drone Raids
Despite recent Ukrainian drone strikes targeting warehouse infrastructure across Russia, VTB’s acquisition of a minority stake in Wildberries' financial division remains on schedule. The banking giant intends to finalize the integration of these fintech assets by the end of next month, signaling no shift in its broader strategic partnership.
Unipol Chief Vows to Keep Monte dei Paschi Base in Siena
The headquarters of Banca Monte dei Paschi will remain in Siena should Intesa Sanpaolo succeed in its takeover bid, according to Unipol Chairman Carlo Cimbri. The assurance follows concerns over the future of the historic Tuscan lender as part of a complex restructuring involving multiple Italian financial institutions.
Anthropic’s failed $7 billion bid for chip startup MatX
A potential $7 billion acquisition of AI chip startup MatX has stalled, signaling a shift in Anthropic’s strategy for securing custom hardware. While the deal remains off the table, the talks highlight the AI lab’s urgent push to move beyond reliance on third-party processors and develop proprietary silicon.
Judge signals defeat for California in Amazon antitrust battle
California’s attempt to force an immediate stop to Amazon’s alleged price-fixing practices hit a wall on Thursday. San Francisco Superior Court Judge Ethan Schulman indicated he would deny the state’s request for an injunction, citing concerns over the relevance of evidence presented by Attorney General Rob Bonta’s office.
US regulators establish formal definitions for unsafe banking
For the first time, federal banking watchdogs have codified what constitutes an unsafe or unsound practice, moving to replace subjective scrutiny with standardized criteria. The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation finalized the rules Thursday, aiming to curb examiner overreach during bank inspections.
New York Stock Exchange plants flag in Dallas
The New York Stock Exchange has officially opened a regional headquarters in Dallas, cementing the city's status as a primary financial hub. Governor Greg Abbott marked the expansion by ringing the closing bell, signaling a strategic shift for the exchange toward a region increasingly dubbed “Y’all Street.”
Judge approves $72.5 million Bank of America settlement in Epstein case
U.S. District Judge Jed Rakoff granted final approval to a $72.5 million class-action settlement between Bank of America and women who alleged the institution facilitated the late financier Jeffrey Epstein’s sex trafficking. The ruling in Manhattan provides compensation to victims while dismissing objections regarding the scope of liability waivers.
Canadian Banks Outperform as Capital Markets Fuel Earnings Surge
With all six major Canadian lenders surpassing Bay Street profit estimates this quarter, the sector has demonstrated remarkable resilience against a backdrop of geopolitical friction. A revival in North American IPOs and robust dealmaking provided the necessary momentum to offset concerns regarding ongoing U.S.-Canada trade disputes and tariff volatility.
Visa and Mastercard resume operations in Syria
Syrian President Ahmed al-Sharaa processed a live payment in a Damascus restaurant this week, marking the first international card transaction in the country since the United States removed Syria from its state sponsors of terrorism list on Monday, effectively signaling the nation's return to global financial networks.
Nvidia Surges as AI Demand Defies Market Skepticism
Nvidia’s latest quarterly results have effectively silenced critics questioning the durability of AI demand, as the chipmaker reported data center revenue that more than doubled over the past year. Following the earnings beat, the stock climbed nearly 5%, signaling robust investor confidence despite broader macroeconomic headwinds and rising inflation figures.
Wall Street giants fracture over Fed capital rule overhaul
The long-standing alliance among Wall Street’s most powerful banks has splintered as the Federal Reserve nears a final decision on capital surcharges. JPMorgan and Bank of America are now locked in a high-stakes lobbying battle against Goldman Sachs and Morgan Stanley over specific funding provisions worth billions.
Euro Zone Bank Lending Accelerates Despite ECB Rate Hike
Bank lending across the euro zone quickened in July, even as borrowers faced the first interest rate increase from the European Central Bank in nearly three years. Data released Thursday shows that credit flow to both businesses and families expanded in the first full month following the landmark shift in monetary policy.
Jensen Huang bets on AI dominance as Nvidia revenue forecasts soar
Nvidia CEO Jensen Huang has signaled unyielding confidence in the AI sector, forecasting a 70% revenue surge for the next fiscal year. This rare long-term projection suggests the demand for the company’s specialized chips will remain robust through early 2028, further cementing its position as the world’s most influential market force.
France faces a volatile budget battle amid presidential election race
The premium investors demand to hold French debt has reached its highest level since late 2024, signaling deep market anxiety as Prime Minister Sebastien Lecornu’s government prepares for a brutal budget fight within a fractured parliament ahead of next spring’s presidential election.
Bessent and Warsh Clash Over Market Intervention
Treasury Secretary Scott Bessent and Federal Reserve Chairman Kevin Warsh are signaling a fundamental disagreement on the role of government in financial markets. As the Trump administration attempts to suppress long-term borrowing costs, the two officials remain divided on whether policymakers should actively manage bond yields or defer to market forces.
Novo Nordisk Seeks Chinese Approval for Oral Wegovy
China’s national drug regulator has accepted an application from Novo Nordisk to market the oral version of its weight-loss drug, Wegovy. This move positions the Danish manufacturer to challenge Eli Lilly in the world's second-largest pharmaceutical market, where demand for GLP-1 therapies is projected to surge significantly by 2030.
Lawyer Rebuts Trump’s Claims Against Fed Governor Lisa Cook
Federal Reserve Governor Lisa Cook’s legal team issued a sharp rebuttal Wednesday to White House claims that she committed mortgage fraud, characterizing the accusations as unproven allegations used to justify an unprecedented attempt by President Donald Trump to purge the central bank’s leadership.
Bank of England to mandate digital payment innovation
The British Treasury has directed the Bank of England to adopt a secondary objective focused on fostering innovation in payment systems and digital assets. While the institution must prioritize financial stability, the new mandate compels the central bank to actively support emerging technologies like stablecoins to maintain the nation's competitive edge.
Swiss National Bank Pushes for Stricter UBS Capital Mandates
The collapse of Credit Suisse exposed critical flaws in Swiss banking oversight, prompting the Swiss National Bank to demand tougher capital requirements for UBS. With the lender now controlling a quarter of the nation's deposits and loans, officials argue that shielding taxpayers from potential future failures has become an urgent priority.
Berlin to engage UniCredit in Commerzbank takeover standoff
German Finance Minister Lars Klingbeil is set to meet UniCredit CEO Andrea Orcel, marking a pivot in Berlin’s approach to the Italian lender’s aggressive pursuit of Commerzbank. The meeting signals a potential thaw in the hostile takeover battle that has dominated the German financial sector for months.
Friedrich Merz targets 1% growth to stabilize German economy
Standing at the Neuhardenberg estate, Chancellor Friedrich Merz pledged to reverse Germany’s economic stagnation with a goal of at least 1% GDP growth for the coming year. Flanked by Finance Minister Lars Klingbeil, the Chancellor argued that targeted reform and increased spending will steer the nation past its current slump.
European Equities Face Capped Growth Despite Record Earnings
A 2% upside is all the market expects for the STOXX 600 by the end of 2026, as geopolitical tension and stubborn inflation expectations clash with the strongest corporate earnings growth seen in over a decade.
Berlin signals engagement in Commerzbank takeover saga
German Finance Minister Lars Klingbeil has invited UniCredit CEO Andrea Orcel to a September 14 meeting in Berlin, marking the government's first direct shift toward dialogue regarding the Italian bank’s aggressive pursuit of Commerzbank after previously demanding the private entities resolve the matter independently.
Jean-Luc Melenchon’s debt cancellation proposal triggers fiscal outcry
Far-left presidential candidate Jean-Luc Melenchon has ignited a political firestorm by proposing the cancellation of French debt held by the Bank of France. The France Unbowed leader argues that erasing 18% of the country’s debt would unlock public spending, but critics warn the move would invite economic ruin.
ECB’s Isabel Schnabel Signals Further Interest Rate Hikes
Persistent geopolitical instability in the Middle East and a resilient euro-zone economy are forcing the European Central Bank to reconsider its current monetary trajectory. Board member Isabel Schnabel warned that inflation remains stubborn, signaling that the bank will likely push interest rates higher to reach its medium-term price stability target.
BNP Paribas and KB Kookmin Eye $2 Billion Stake in Vietnam's Techcombank
France's BNP Paribas and South Korea's KB Kookmin Bank are currently in separate negotiations to acquire at least a 15% stake in Techcombank. The potential deal for Vietnam's third-largest private lender could reach $2 billion, signaling a major move to capture the nation's rapidly expanding banking market.
Rome freezes Monte dei Paschi stake amid takeover battle
Conflict lead: Italian Economy Minister Giancarlo Giorgetti has halted the sale of the government’s 4.8% stake in Banca Monte dei Paschi di Siena, prioritizing the bank’s stability over a planned divestment while a high-stakes struggle for control plays out between the Tuscan lender and industry rival Intesa Sanpaolo.
BNP Paribas Secures Riyadh Regional Headquarters Licence
Saudi Arabia’s push to transform Riyadh into a preeminent regional financial hub gained momentum as BNP Paribas secured a licence for its regional headquarters. The announcement follows a meeting in Paris between Saudi investment minister Fahd bin Abduljalil al-Saif and BNP Chairman Jean Lemierre, marking a significant shift for the French banking giant.