Bloomberg Bankia SA agreed to acquire Banco Mare Nostrum SA (BMN) in an all-stock deal, part of a plan by Spain to recoup the costs of bailing out lenders following the country’s property bust. Bankia, the country’s fourth-biggest bank by market capitalization, will issue new stock amounting to 6.7 percent of its post-merger capital to the shareholders of Banco Mare ...

Bloomberg Australia & New Zealand Banking Group Ltd. (ANZ) told a US court that its commodities trading arm suffered ‘substantial losses’ after it discovered that receipts for metal held in Glencore Plc’s Access World warehouses are probably fake. When ANZ looked into selling the nickel, it discovered 83 out of 84 receipts it held were likely forgeries, the Australian lender ...

Bloomberg As Italian taxpayers contemplate the $19 billion bill to clean up two failed Veneto banks, Intesa Sanpaolo SpA shareholders cheered. The nation’s second-largest bank is taking over the good assets of Banca Popolare di Vicenza SpA and Veneto Banca SpA for 1 euro and will also receive 5.2 billion euros ($5.83 billion) from the state to maintain its capital ...