MILAN - UniCredit has entered final phase talks to sell its debt recovery unit and a chunk of bad debt, two sources close to the matter told Reuters on Friday, a move aimed at strengthening its balance sheet and freeing up funds for new lending.
Madrid - Last year Madrid’s city and regional governments sold almost 5,000 rent-controlled flats to private equity investors including Goldman Sachs and Blackstone. At the time, the tenants were told their rental conditions would remain the same.
NEW YORK - A U.S. judge has scheduled a Dec. 2 hearing to weigh whether or not Citigroup Inc can process an expected interest payment by Argentina on bonds issued under its local laws following its 2002 default.
ZURICH - Credit Suisse is to make more cuts at its investment bank, which helped the Swiss group to produce stronger-than-expected earnings in the third quarter.
LONDON - Lloyds Banking Group's aborted attempt to sell hundreds of branches to the Co-operative Bank was not influenced by politicians, a committee of lawmakers said on Wednesday.
STOCKHOLM - Nordea, the Nordic region's biggest bank by market value, reported underlying profit in line with expectations in the third quarter on Wednesday, and said it had taken a big impairment charge to upgrade its IT systems.
MADRID/VIENNA - Austria's Erste Bank rejected a report that it was one of at least 11 banks that had failed the European Central Bank's landmark health check, while other banks named by Spanish newswire Efe did not comment.
STOCKHOLM - Swedbank is to cut around 5 percent of staff to reduce costs to combat expected revenue pressures from a weak economy after reporting stronger-than-expected third-quarter profits. | Video
NEW YORK - A measure of global equity markets advanced on Tuesday as technology earnings lifted U.S. shares and the prospect of European Central Bank corporate bond purchases boosted European stocks, while weighing on safe-haven U.S. Treasuries prices.
NEW YORK/WASHINGTON - The Federal Reserve's New York branch knew about risks JPMorgan Chase & Co was taking with its massive "London Whale" derivatives bets four years before they imploded, but it failed to act properly to head them off, the U.S. central bank's inspector general said.