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Citi touts Europe banks in ‘world’s contrarian trade’

Bloomberg European banking stocks have been punished like no other sector in the region this year. Unless you’re expecting a financial crisis, now may be the time to take advantage of valuations near a two-year low, according to strategists at Citigroup Inc. Fearful of potential contagion from Turkey, investors accelerated their flight from the Stoxx 600 Banks Index in the ...

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Top Swiss bank settles a decade after secrecy began to crumble

Bloomberg About a decade after Swiss bank secrecy laws started to crumble under the impact of a US investigation, one of the last large lenders still entangled in the matter agreed to settle the dispute. Zuercher Kantonalbank, Switzerland’s largest publicly-owned regional bank, will pay $98.5 million as part of a deferred prosecution agreement with the Department of Justice to end ...

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Air France-KLM close to name new chief after its long search

Bloomberg Air France-KLM Group is close to naming a CEO after a three-month search, with Ben Smith from Air Canada emerging as a leading candidate, according to a person familiar with the matter. The board will meet later this week and could finalise a decision then, said the person, who asked not to be identified discussing a non-public matter. Smith, ...

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