Italy’s Berlusconi family sells Mediobanca stake
Former Italian Prime Minister Silvio Berlusconi’s family has sold its 2% stake in Mediobanca (MDBI.MI), in the latest change affecting the shareholder base of Italy’s top investment bank.
Explainer: How Malaysia is seeking to recover billions of dollars missing from 1MDB
Malaysia on Monday announced 22 civil suits against entities and people accused of being involved with the massive 1MDB corruption scandal, including units of global banks Deutsche Bank (DBKGn.DE) and JPMorgan (JPM.N). read more The lawsuits are part of a years-long effort by Malaysia to recover billions of dollars missing from 1Malaysia Development Berhad (1MDB) in a scandal that […]
Class of COVID-19: Next generation of bankers fear for future
The stage fright of walking into the imposing offices of a $607 billion asset manager in the heart of a historic financial district? Pandemic era: a five-day induction on Microsoft Teams.
The impact of COVID-19 on artificial intelligence in banking
COVID-19 has not dampened the appetite of European banks for machine learning and data science, but may in the short term have limited their artificial-intelligence investment capacity.
A $9 million boss? UniCredit investors to decide how much Orcel is worth
MILAN (Reuters) – Investors are due to approve Andrea Orcel’s appointment as chief executive of UniCredit on Thursday, but the issue that scuppered his first attempt to run a major bank is overshadowing his second: pay.
China March new bank loans rise but broad credit growth eases
BEIJING (Reuters) – New bank loans in China rose more expected in March from the previous month due to strong corporate and household demand, as the central bank walks a tightrope between supporting the rapidly recovering economy and containing debt risks. Chinese banks extended 2.73 trillion yuan ($416.62 billion)in new yuan loans in March, up […]
The world is delivering a new billionaire every 17 hours
Although the world is still dealing with the devastating effects of the Covid-19 epidemic, a few positive things have begun to knock on the world’s door. The rise in the number of billionaires’ during this period, is one such interesting feat. According to Forbes World’s billionaire list, more individuals will enter the billionaire club after […]
South Korea unveils prototype of KF-X fighter jet
SEOUL (Reuters) – South Korea on Friday unveiled the first prototype of the KF-X fighter jet it is developing with Indonesia, amid lingering uncertainty over the future of Jakarta’s role in the project. The next-generation aircraft being developed by Korea Aerospace Industries Ltd (KAI) is designed to be a cheaper, less-stealthy alternative to the U.S.-built […]
Toshiba chairman issues cautious statement on CVC’s take-private offer
TOKYO (Reuters) -The chairman of Toshiba Corp’s board on Friday issued a statement on CVC Capital Partners’ recent offer to take the company private, saying it was unsolicited and that a deal would require various antitrust approvals and financing. “This initial proposal by CVC was completely unsolicited and not initiated by Toshiba,” board chairman Osamu […]
Textile Minister Reaches out to engineering institutions regarding textile machinery
The domestic textiles market and its entire value chain contribute to 7 percent of the country’s manufacturing production and 2.3 percent of the GDP. Given this fact, the Ministry of Textiles, Govt. of India, is considering optimizing this industry by leveraging improved textile machinery. According to a PTI report, the textile ministry has contacted some […]
