The Commerzbank building (second from right) in Frankfurt am Main, western Germany, on Sept. 25, 2023. Kirill Kudryavtsev | Afp | Getty Images UniCredit‘s move to take a stake in German lender Commerzbank is raising questions on whether a long awaited cross-border merger could spur more acquisitions and shake up the European banking sector. Last … Read more
UniCredit CEO Andrea Orcel during an interview at the World Economic Forum (WEF) in Davos, Switzerland, on Jan. 18, 2024. Bloomberg | Bloomberg | Getty Images UniCredit‘s CEO Andrea Orcel revealed his hand this week as the Italian lender built a 9% stake in Commerzbank — and a takeover bid for the German rival could … Read more
Big banks are jumping headfirst into the AI race. Over the past year, Wall Street’s largest names — including Goldman Sachs , Bank of America , Morgan Stanley , Wells Fargo to JPMorgan Chase — ramped up their generative artificial intelligence efforts with the aim of boosting profits. Some are striking deals and partnerships to … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
Traders work on the floor of the New York Stock Exchange during morning trading on August 12, 2024 in New York City. Michael M. Santiago | Getty Images News | Getty Images This report is from today’s CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they … Read more
A logo stands on display above the headquarters of Deutsche Bank AG at the Aurora Business Park in Moscow, Russia. Andrey Rudakov | Bloomberg | Getty Images Deutsche Bank has reached settlements with nearly 60% of plaintiffs in a long-running case alleging the German lender underpaid for its acquisition of Postbank more than a decade … Read more
A Deutsche Bank branch in the financial district of Frankfurt, Germany, on May 6, 2022. Alex Kraus | Bloomberg | Getty Images A lawyer representing plaintiffs in a long-running case against Deutsche Bank on Friday slammed a proposed settlement from the German lender as a “late low ball” offer. The crux of the challenge against … Read more
Airplanes from United and JetBlue and Delta populate the taxiway at Laguardia Airport in the Queens borough of New York City. Bruce Bennett | Getty Images U.S. airlines are reducing their capacity through the end of the year in a bid to cool an oversupplied domestic market that has led to lower fares and reduced … Read more
LONDON — European markets opened mixed on Friday, as a global stock selloff eases and investors await a U.S. inflation print. The pan-European Stoxx 600 opened slightly above the flatline, with sectors and major bourses spread between losses and gains. Autos led loses, down 1.2%, as Germany’s Mercedes Benz dipped 2% after narrowing its annual … Read more
The Unilever headquarter building seen by the Nieuwe Maas river in Rotterdam. Sopa Images | Lightrocket | Getty Images LONDON — European markets are heading for a lower open Thursday, with a flurry of corporate earnings and a selloff on Wall Street in focus. The U.K.’s FTSE 100 was last seen opening 19 points lower … Read more
