European fund assets top €31 trillion amid retail push
Assets under management (AuM) in the European fund management industry continued to rise in 2021 and reached an estimated €31.3 trillion at the end of September,…
December 2021
Northvolt makes Europe’s first lithium-ion battery cell
Northvolt announced that its new gigafactory in Västerås, northern Sweden, has assembled its first lithium-ion battery cell, making it the first European company to design and manufacture…
EIB creates €772m fund for Italy tourism, regeneration
The European Investment Bank (EIB) announced it has signed a finance agreement with the Ministry of Economy and Finance to create a Fund of Funds…
Aker BP agrees $14bn deal for Lundin oil, gas business
Norway’s Aker BP is set to become Europe’s largest independent oil producer after agreeing a roughly $14 billion shares and cash deal to take over…
Ireland to sell part of its 71% stake in €6bn AIB
Ireland’s Minister for Finance Paschal Donohoe has announced his intention to sell part of the Irish State’s 71.12% directed shareholding in AIB Group Plc over…
BNP Paribas to sell $16.3bn Bank of the West to BMO
France’s BNP Paribas said it has reached an agreement to sell its San Francisco-based Bank of the West to Bank of Montreal — also known as…
European Investment Bank plans €45bn bond sales
The European Investment Bank (EIB) announced that it estimates its new issuance for 2022 will be €45 billion. The EIB is the long-term lending institution of…
Adidas announces new €4bn share buyback
Germany’s Adidas has announced it will launch a multi-year share buyback program. Starting in January 2022, the company plans to buy back shares of up…
Abrdn still sees opportunities in European shares
Investors in European stocks will have to “navigate a more challenging landscape” in 2022 after a “remarkable year” in 2021 — but big opportunities can still be…
Ireland to sell up to €14bn of debt in 2022
Ireland’s National Treasury Management Agency (NTMA) said it plans to issue €10 billion to €14 billion of bonds over the course of 2022. This represents…
De Ferrari returns in Credit Suisse executive shake-up
Credit Suisse Group announced a number of appointments to its executive board — including the return of Francesco De Ferrari to the group as CEO of…
Nestlé cuts L’Oréal stake with €8.9bn share sale
Switzerland’s Nestlé SA announced it will cut its stake in L’Oréal from 23.3% to to 20.1% by selling shares worth €8.9 billion back to the…
ARA builds £3bn European real estate portfolio
ARA Europe, through its platform ARA Dunedin, has completed its acquisition of the European real estate investment management business of InfraRed Capital Partners. The transferred…
Ireland to receive €920m for Brexit impact
The European Commission announced it will allocate €920.4 million to Ireland from its Brexit Adjustment Reserve. The Commission said Ireland is the biggest beneficiary of…
Allianz reinsures $35bn of fixed index annuity liabilities
German insurance and asset management giant Allianz said on Friday its Allianz Life subsidiary is entering into a reinsurance agreement with affiliates of Sixth Street, including…
EU fines banks €344m for forex spot trading cartel
By Mark McSherry The European Commission announced it has fined UBS, Barclays, RBS, HSBC and Credit Suisse a total of €344 million “for participating in…
ITA Airways confirms order for 28 Airbus planes
Airbus said on Wednesday that ITA Airways, Italy’s new national carrier, has firmed up an order with for 28 aircraft including seven A220s, 11 A320neos…