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Banks

Banks' blockchain consortium picks IBM for trade finance platform

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PARIS Tech giant IBM is building a blockchain-based platform for seven big European banks, including HSBC and Deutsche Bank , that is aimed at simplifying trade finance transactions for small- and medium-sized companies.

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Time Inc, Barclays to launch Fortune 500 stock indices 26 Jun 2017

NEW YORK Time Inc said Monday it would license its Fortune brand for stock indexes based on the Fortune 500 in a new partnership with Barclays PLC in an effort to diversify Time's revenue into the growing index-investing business.

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Fridman's L1 Retail to buy Holland & Barrett for $2.3 billion 26 Jun 2017

LONDON Russian billionaire Mikhail Fridman's L1 Retail has agreed to buy Britain's Holland & Barrett for 1.77 billion pounds in its first acquisition, betting on continued growth and expansion abroad for the health foods chain.

Bonus cap could cost Dutch Brexit banking business, employer group says 26 Jun 2017

AMSTERDAM A limit on bankers' bonuses is putting the Netherlands at risk of missing out on luring financial services firms over from London once Britain leaves the European Union, Dutch Employers' Association VNO-NCW said on Monday.

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Portugal investigating fraud linked to Venezuela PDVSA funds, PDVSA says 25 Jun 2017

CARACAS Portugal is investigating alleged appropriation of funds belonging to Venezuelan state oil company PDVSA [PDVSA.UL] that were channelled through now-defunct Portuguese bank Banco Espirito Santo between 2009 and 2014, PDVSA said on Saturday.

Allianz sells private bank OLB to Apollo for 300 million euros 23 Jun 2017

FRANKFURT German insurer Allianz said it had agreed to sell its 90 percent stake in private bank Oldenburgische Landesbank (OLB) to U.S. private equity firm Apollo for 300 million euros (264.2 million pounds).

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BNP Paribas to cut jobs in revamp of French retail banking arm 22 Jun 2017

PARIS BNP Paribas said it will cut 640 jobs by end-2020 in its French retail bank via natural attrition, as part of a wider management reshuffle for a business grappling with low interest rates and stringent regulation.

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Intesa offers to buy Veneto banks' healthy assets for 1 euro 21 Jun 2017

MILAN Italy's biggest retail bank Intesa Sanpaolo on Wednesday set tough conditions on an offer to buy the healthy assets of two Veneto-based banks, part of efforts to prevent European authorities from stepping in to wind them down.

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Nike close to selling directly on Amazon: Goldman Sachs 21 Jun 2017

Nike Inc's shares rose as much as 2 percent after Goldman Sachs said the world's biggest sportswear maker could be close to selling directly on Amazon.com Inc , raising competition for brick-and-mortar sporting goods retailers.

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Nike close to selling directly on Amazon - Goldman Sachs 21 Jun 2017

Nike Inc's shares rose as much as 2 percent after Goldman Sachs said the world's biggest sportswear maker could be close to selling directly on Amazon.com Inc, raising competition for brick-and-mortar sporting goods retailers.

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