According to the stress tests carried out by the Bank of England (BoE), the UK banking system could absorb £50 billion of losses with the capital they have in excess of the minimum requirements. Banco Santander’s UK subsidiary did a good job in the tests.
BBVA has confirmed the sale of its portfolio of property assets, held by its subsidiary Anida and valued at 13 billion euros, to Cerberus. Some 78,000 properties are included in the sale agreement.
Liu Xiao and Wu Yujian via Caixin | After a tumultuous year, the price of bitcoin surged past $10,000 on Wednesday morning Beijing time, growing more than tenfold from the beginning of the year.
Pressure is high on the UK to offer a better financial Brexit deal and a solution to Irish borders by 4 Dec. in order to unlock the more important talks on trade. A successful exit deal is the precondition to Julius Baer’s base case, which foresees a trade agreement but the loss of the EU passport.
Leaving aside the hole left by the last hurricanes, insurance companies’ P&L accounts tell the story of a sector which has not suffered much in the context of zero interest rates. An insurer runs less of a risk in a context of zero interest rates than of a financial crisis.
Siemens Gamesa has become the second largest turbine supplier in the world after sealing its merger last April, with a 19.3% market share.
From October 2 to November 24, 2.773 companies have transferred their headquarters (HQ) from Catalonia to other regions in Spain, according to figures from the College of Mercantile Registers in Spain.
After the “war” between Atlantia and ACS for Abertis, now a new counter-bid could be launched to the Spanish market: the one of NH Hoteles’ leading shareholder, China’s HNA (with 28.2% of capital), for the hotel chain which improves on that made by Barceló.
In the last few months, we have witnessed a worrying downward revision to US savings rates, in addition to the clear declining trend in savings. If US households don’t dedicate part of the resources freed up by the government’s planned tax reform to savings, we will be facing some very bad news.
Today’s Cyber Monday online shopping holidays are “perfectly suited to todays’ connected consumer”, according to AXA IM expert Jeremy Gleeson. Forecasts suggest that consumers will spend even more cash this Cyber Monday than previous year.