EU to sell at least €80bn of bonds in 2021
The European Commission announced that it estimates it will sell around €80 billion of long-term bonds in 2021, to be topped up by “tens of…
Volvo shareholders get $2.3bn from UD truck sale
Sweden’s Volvo Group announced it plans to distribute to shareholders all of the roughly 19 billion Swedish kronor ($2.3 billion) it received from the sale of…
Deutsche Börse completes Clearstream Fund deal
Deutsche Börse announced it completed the acquisition of the remaining 49% stake in Clearstream Fund Centre from UBS on June 1, becoming the sole shareholder…
Tristan fund buys €1bn German property portfolio
The EPISO 5 opportunistic fund, advised by Tristan Capital Partners, has agreed to acquire the non-listed portfolio controlled by Summit Real Estate Holdings Ltd and…
Julius Baer pays $80m in FIFA corruption settlement
Swiss bank Julius Baer will pay $79.7 million in a settlement with the US Department of Justice after being implicated in a corruption probe surrounding…
Iceland to launch Islandsbanki IPO on Nasdaq
Icelandic State Financial Investments (ISFI) has announced that Iceland intends to launch an initial public offering (IPO) of Islandsbanki by next month and plans to…
Kering sells more of its Puma stake for €833m
French luxury goods group Kering announced it would sell a 5.9% stake in German sportswear company Puma via a placement to investors as it focuses on…
EU fines banks €371m for bond trading cartel
The European Commission has fined investment banks UBS, Nomura and UniCredit a total of €371 million for participating in a European governments bond (EGB) trading cartel…
Bitcoin has eclipsed tulip mania of 1600s – ECB
The European Central Bank (ECB) said on Wednesday the surge of Bitcoin has eclipsed previous financial bubbles like the “tulip mania” and the South Sea Bubble…
Eurostar gets £250m refinancing; UK refuses to help
Eurostar, the cross-Channel rail service dedicated to routes connecting the UK with mainland Europe, has announced a refinancing agreement with its shareholders and banks —…
Ryanair sells €1.2bn bond at record low coupon
Ryanair announced on Tuesday it sold a five-year €1.2 billion Eurobond at a record low coupon rate 0.875%. Reuters reported the sale received demand of…
Ryanair in €815m loss as revenue falls 81% to €1.6bn
Dublin-based Ryanair Holdings plc on Monday announced a record annual loss of €815 million for the year to March 31, compared to a previous year…
Volvo Cars mulls IPO on Nasdaq Stockholm
Volvo Cars has announced it will evaluate the possibility of an initial public offering (IPO) on the Nasdaq Stockholm stock exchange later this year. The…
Denmark’s Hempel buys £500m paint firm Farrow & Ball
Copenhagen-based coatings manufacturer Hempel announced it agreed to acquire Dorset, England-based luxury paint and wallpaper company Farrow & Ball from the Los Angeles-based private equity group of…
Trustly postpones €9bn IPO amid regulator concerns
Swedish payments firm Trustly announced it has postponed its IPO plans following comments by the country’s financial supervisory authority about the company’s due diligence process…
Apple accused of distorting music streaming market
European Commission regulators have accused Apple of distorting competition in the music streaming market “as it abused its dominant position for the distribution of music…
EU fines banks €28m for bond-trading cartel
The European Commission said it fined Bank of America Merrill Lynch, Crédit Agricole and Credit Suisse a total of €28.49 million for taking part in…
Dutch insurer NN mulls €300bn asset manager sale
Dutch insurance firm NN Group has announced it is considering the sale of its asset management arm, NN Investment Partners, which has around €300 billion…
EU fines railway companies €48m for cartel
The European Commission said it has fined railway companies Österreichische Bundesbahnen (ÖBB) of Austria, Deutsche Bahn (DB) of Germany and Belgium’s SNCB a total of…
Bank of Ireland shares up 9% on potential KBC deal
Shares of Bank of Ireland rose about 9% on Friday after it announced it is exploring the acquisition of “substantially all” of Belgian financial group KBC’s…
Europeans want privacy, security with digital euro
The European Central Bank (ECB) has published a comprehensive analysis of its public consultation on a digital euro. The analysis confirms that what the public…
EU to borrow €800bn by 2026 for recovery fund
The European Commission has announced it plans to borrow around €800 billion by the end of 2026 — at the rate of around €150 billion…
Veolia agrees €13bn deal to buy Suez, ending battle
Veolia has agreed in principle to acquire Suez in a merger deal worth roughly €13 billion after months of bitter fighting between the two French waste and…
Columbia Threadneedle adds $124bn European assets
Columbia Threadneedle Investments parent firm Ameriprise Financial, Inc. said it signed a definitive agreement with Toronto based BMO Financial Group (BMO) to acquire its Europe,…
Sweden’s Trustly targets €9bn valuation in IPO
Swedish payments firm Trustly said on Monday it intends to list its shares on the Nasdaq Stockholm exchange in a deal that analysts said could…
EU liquidity concern on €6.8 trillion alternative funds
The European Securities and Markets Authority (ESMA), the EU securities regulator, has published its third annual statistical report on the Alternative Investment Fund (AIF) sector,…
Norway fund buys €1.3bn Ørsted wind farm stake
Norges Bank Investment Management (NBIM) has announced that Norway’s $1.3 trillion sovereign wealth fund has made its first direct investment in a renewable energy infrastructure. The fund…
EU approves €4bn state aid for Air France-KLM
The European Commission has approved plans by the government of France to grant up to €4 billion for the recapitalisation of Air France through its…
Credit Suisse in $4.7bn Archegos hit as Warner leaves
Switzerland’s Credit Suisse said on Tuesday it will take a 4.4 billion Swiss franc ($4.7 billion) writedown connected to its exposure to US-based hedge fund…
Volvo Cars gives staff 24 weeks paid parental leave
Volvo Cars has announced it will give all its 40,000 employees worldwide with at least one year’s service 24 weeks paid parental leave “at 80%…