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Giuliani refuses to show up for Jan 6 testimony

  Bloomberg Rudy Giuliani balked at showing up for his scheduled interview before the House Committee investigating the January 6, 2021, attack on the US Capitol, a spokesman for the panel said. The spokesman, Tim Mulvey, said the committee “will consider all enforcement options” if the former personal lawyer to former President Donald Trump continues to refuse. “Mr Giuliani had ...

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Russia hit tops $8 billion for European banks pulling back

  Bloomberg European banks are counting the rising cost of Russia’s invasion of Ukraine as they brace for a wave of defaults and write down the value of their operations in the country. Led by Societe Generale SA and UniCredit SpA, the region’s lenders have so far flagged a hit of $8.6 billion to their earnings from the war. The ...

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Czechs raise rates to highest since 1999

  Bloomberg The Czech central bank lifted borrowing costs more than expected to the highest level since 1999 and signalled further monetary policy tightening to come as intensifying inflation pressure eclipses risks to economic growth. Policy makers raised the benchmark rate by 75 basis points to 5.75% — exceeding the forecasts of all analysts in a Bloomberg survey for a ...

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Paschi swings to profit ahead of capital hike

  Bloomberg Banca Monte dei Paschi di Siena SpA swung to a small quarterly profit as new Chief Executive Officer Luigi Lovaglio seeks to revamp the bailed-out bank ahead of a planned capital raising. The bank reported a net income of 9.7 million euros ($10.2 million) in the first three months of the year reversing a fourth quarter loss, according ...

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Poland central bank raises rates to curb inflation

  Bloomberg Poland’s central bank pledged to continue fighting inflation after its interest-rate increase fell short of market expectations and weakened the zloty. Policy makers in Warsaw lifted the benchmark rate by 75 basis points to 5.25%, the highest level since 2008. Most economists predicted a full percentage-point increase. Future decisions will hinge on the prospects for inflation and economic ...

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SocGen gets boost from higher rates as Russia hit looms

Bloomberg Societe Generale SA benefited from higher interest rates and market volatility in the first quarter, helping offset rising costs as the French lender prepares to exit its Russian business. Revenue in the first three months rise 17%, beating analysts’ estimates, driven by its international banking operations, gains in French retail banking and across investment banking units. The Paris-based bank ...

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