Funds begin parking sanction-hit Russian assets in ‘side pockets’
Some of the world’s biggest money managers are talking to investors and regulators about stripping Russian assets from their funds, helping them unlock billions of dollars of investments which became illiquid due to the war in Ukraine.
Telefonica beats first-quarter profit forecasts
Spain’s Telefonica (TEF.MC) posted a smaller-than-expected fall in first-quarter net profit on Thursday helped by inflation-matching price rises in most markets, operating efficiencies and strength in its cloud and cybersecurity business.
Bank of Ireland posts highest profit in more than a decade
Bank of Ireland (BIRG.I) on Monday posted its biggest annual profit since the global financial crisis more than a decade ago and said it plans to return of 104 million euros ($116 million) to shareholders through dividends and buybacks.
ING shares dip 4% after earnings; provisions rise on inflation worries
ING Groep NV (INGA.AS) reported higher-than-expected provisions in its fourth quarter earnings report on Thursday, as the largest Dutch bank braced for the impact of higher inflation on customers.
Nokia resumes dividend, share buybacks as turnaround gathers pace
Nokia (NOKIA.HE) on Thursday restarted its quarterly dividend and initiated a share buyback programme after reporting fourth-quarter comparable operating earnings above markets estimates as the Finnish telecoms equipment maker kept costs in check.
Santander lifts profits as it releases pandemic provisions
Spain’s Santander (SAN.MC) released 750 million euros ($846 million) in pandemic-related provisions in the fourth quarter, betting on an economic recovery in its main markets and helping boost net profit eight-fold compared to a year earlier.
