Bloomberg A day after UniCredit Spa announced talks to buy it, Banca Monte dei Paschi di Siena SpA was the worst performer in European regulators’ stress tests and the only one to have a key measure of capital wiped out. That’s creating questions over the mechanics of a deal engineered by UniCredit Chief Executive Officer Andrea Orcel and the Italian ...

Bloomberg Lloyds Banking Group Plc beat forecasts in the second quarter and lifted its guidance for the year as it released further provisions it had set aside for loans going bad during the pandemic. Pretax profit of 2 billion pounds ($2.8 billion) came in ahead of analyst expectations for 1.4 billion pounds, according to a consensus compiledby Bloomberg, and compares ...

Bloomberg JPMorgan Chase & Co tapped Hiscox Ltd’s Ben Walter to lead the firm’s business-banking division, succeeding Jennifer Roberts, who was named head of consumer banking earlier this year. Walter, 47, will join the biggest US bank in October as chief executive officer of the unit, which provides services to small businesses with as much as $20 million in annual ...

Bloomberg BNP Paribas SA got a boost from lower provisions for bad loans and a rebound in equities trading last quarter, as Chief Executive Officer Jean-Laurent Bonnafe builds up the trading business. Revenue from the stocks unit more than doubled from a year earlier, helping drive a 27% jump in overall profit that topped analysts’ estimates. Still, the Paris-based lender ...

Bloomberg It’s been a hellish month for China-based companies listed in the US. A clampdown by Beijing authorities led to the worst selloff since the financial crisis, prompting a broad reassessment for a burgeoning corner of the world’s largest stock market. The Nasdaq Golden Dragon China Index — which tracks 98 of China’s biggest firms listed in the US — ...

Bloomberg The Senate’s bipartisan infrastructure deal envisions imposing stricter rules on cryptocurrency investors to collect more taxes to fund a portion of the $550 billion investment into transportation and power systems. The provisions would raise an additional $28 billion from cryptocurrency transactions, according to a summary of the plan. The proposal would impose more rules on crypto brokers to report ...

GENEVA / WAM Trade in medical goods registered growth of 16.3 percent in 2020 — compared with 4.7 percent growth in 2019 when the Covid-19 pandemic was just starting, according to the World Trade Statistical Review 2021 issued by the World Trade Organisation (WTO). Exports of medical products, including medicines, medical equipment and PPE, rose by more than 16 percent, ...

Bloomberg Devon Energy Corp and ConocoPhillips are among potential suitors studying Royal Dutch Shell Plc’s portfolio of Permian Basin oil fields, which could be worth as much as $10 billion in a sale, people familiar with the matter said. Chevron Corp is also among companies considering bids for the assets, which are largely located in West Texas, the people said. ...

Bloomberg America’s corporate giants began ratcheting up the pressure on unvaccinated employees, aiming to turn the tide against a resurgent virus that threatens the economic recovery. Walmart, the largest private employer in the US, is requiring headquarters and regional staff to be vaccinated by October 4, instituting a policy that may set a standard for corporate America as the highly ...

Bloomberg British Airways parent IAG SA is stuck on the starting blocks amid lingering coronavirus curbs as one of its biggest European competitors reaps the benefits of a late-summer travel rebound. London-based IAG, which also owns Spain’s Iberia and Aer Lingus of Ireland, provided no guidance in an earnings update and said it will offer only 45% of 2019 capacity ...