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Economy

Global banks tighten security in Gulf hubs after new Iran threat

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Germany

Thieves drill into German bank vault and steal millions of euros

A fire alarm summoned police officers and firefighters to the bank branch shortly before 4 am on Monday.

The Big Question

Revolut Western Europe CEO: “Not specifically in a hurry” for licences

Béatrice Cossa-Dumurgier said that while additional European licences would support Revolut’s business operations, the focus is on meeting customer needs through innovation.

Business

MPS relaunches bid for Mediobanca takeover

Monte dei Paschi raises its offer for the acquisition of Mediobanca, adding €0.9 in cash per share and lowered the threshold for the validity of the takeover bid to 35%. The offer is now worth a total of €13.5 billion. Piazza Affari reacts with falls for both stocks.

Markets

UK bank shares tumble as sector fears new tax

British banks Barclays, Lloyds and NatWest saw their share price fall following news that the UK government could implement new taxes on the sector to fill a sizeable gap in the budget.

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Business

Sweden’s Klarna receives licence from UK’s Financial Conduct Authority

The move will allow the fintech firm to launch a debit card and offer its UK-based customers Klarna accounts where they can save funds.

Markets

UniCredit delivers record earnings, raises 2025 outlook

UniCredit delivers record-breaking second-quarter results, boosting confidence with stronger full-year outlook and new share buy-back. CEO Orcel calls it the best first half in the bank’s history.

Economy

UniCredit withdraws bid for Banco BPM due to uncertainty

The group's board of directors announced that it had decided to abandon the takeover due to the Italian government's use of golden power, which had prolonged the negotiations too much, preventing UniCredit from talking to BPM's shareholders

Business

Revolut announces 400 new jobs as neobank establishes Paris HQ

Following the appointment of a Western Europe CEO, neobank Revolut has announced a recruitment drive as its new Paris HQ takes shape.

Business

Spain's Santander buys TSB Bank to boost presence in the UK

The Spanish lender is about to become the third-largest bank in the UK by share of personal current accounts, after the deal is closed.

Partner content

AIIB at 10: A decade of development and the road ahead

Partner content presented by AIIB

The Asian Infrastructure Investment Bank (AIIB) is holding its 10th Annual Meeting of Board of Governors from June 24 to 26 in Beijing.

Business

Marking a decade of development: What's next for the AIIB at 10?

The Asian Infrastructure Investment Bank (AIIB) kicks off its annual meeting on Tuesday in Beijing, but why is it important for Europe?

Earth News

Banks ‘show true colours’ with fossil fuel financing surge last year

In total, banks have financed fossil fuels to the tune of €6.9 trillion since the Paris Agreement was signed.

Markets

Warren Buffett’s best and worst investments as Berkshire Hathaway boss

While his knack for snapping up stocks struggling with market conditions and scandals made him billions, Buffett was still relatively slow to invest in tech companies.

Business

France’s Crédit Agricole gains ECB nod to raise stake in Banco BPM

The green light comes as Italian bank UniCredit prepares to launch a buyout offer for Banco BPM, which could be complicated by CA’s stake.

Business

Citigroup credits client’s account with $81tn in ’fat finger’ mistake

Bank staff meant to send only $280. No funds left the bank, as the error was detected before the transaction was processed the following day.

Business

Sabadell Bank raises shareholder payout promise as BBVA eyes takeover

The Spanish lender aims to offer shareholders €3.3 billion, including more than €1bn in buybacks this year.

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