Bloomberg Talks between the Italian government and UniCredit SpA over the sale of Banca Monte dei Paschi di Siena SpA have collapsed, dealing a blow to Prime Minister Mario Draghi’s efforts to end the bank’s troubles. The Treasury and UniCredit ended negotiations after being unable to overcome stumbling blocks related to a capital injection in Monte Paschi and the businesses …

Bloomberg Goldman Sachs Group Inc. called on the UK to relax capital rules for retail banking introduced in the aftermath of the global financial crisis, the Mail on Sunday reported. The UK currently requires big banks with deposits of 25 billion pounds ($34 billion) or more to ring-fence the retail operations, meaning the banks can’t use the funds in the …

Bloomberg A new era for UK mortgage market is approaching as the Bank of England (BOE) prepares to raise interest rates, and markets are already shifting rapidly. Sterling swap rates, used by banks to set the cost of home loans, have jumped in recent weeks, converging with mortgage prices and squeezing the margin for lenders. That doesn’t look sustainable, and …

Bloomberg Analyst estimates for Asia’s corporate profits have fallen to more than a decade low relative to global peers, and further downgrades are on the horizon as China’s economic growth slows and global supply constraints remain. After soaring past pre-pandemic levels on vaccine and reopening optimism, the 12-month forward earnings-per-share forecasts for MSCI Asia Pacific Index members began to drop …

Bloomberg Netflix Inc.’s runaway hit Squid Game came like a bolt from the blue for viewers around the world. The impact on equity investors in its home country of South Korea is proving equally intense. While the nation’s benchmark share index has dropped about 4% since the drama was released in mid-September, dozens of stocks in the vibrant entertainment sector …

Bloomberg Oil posted the longest stretch of weekly advances since 2015 as Opec+ producers only modestly supply the market and as US crude supplies shrink. Crude futures rise 1.5% in New York, up for a ninth straight week. President Joe Biden said that Americans should expect high gasoline prices to continue into next year because of supply being withheld by …

Bloomberg A blueprint for how developed countries will contribute $100 billion a year to poor nations confronting climate change is set to be unveiled on Monday despite objections from the US and other nations that almost derailed the announcement. The plan is seen as critical to the success of the United Nations COP26 climate summit scheduled to begin October 31 …

Bloomberg A warning from Snap Inc is rattling technology investors who have got used to turbocharged growth in ad spending on social media. Executives from the maker of Snapchat said that supply-chain bottlenecks are prompting companies to hold back on online ad spend for the upcoming holiday season, meaning sales will rise by only around 30% in the fourth quarter …

Bloomberg Intel Corp shares plummeted to their lowest close since December, after the chipmaker reported third-quarter results and detailed a spending plan that it said would pressure profitability over the next few years. The stock falls 12%, its biggest one-day percentage decline since July 2020, marking the sixth straight quarter where Intel’s results were met with a negative reaction. The …

Bloomberg Tencent Holdings Ltd said loopholes created during a recent tech upgrade made some content on its enclosed WeChat ecosystem available on search engines. While the company said the vulnerability had already been fixed, searches performed using Google, which is blocked in mainland China, and Microsoft Corp’s Bing were still able to locate social media articles from WeChat. Articles on …