Brexit To Cost London Economy Up To £9.5bn A Year
Brexit will cost the London economy up to £9.5 billion a year – with the city’s service sectors bearing the brunt of the downturn, according…
Amundi, €1.7 trillion fund giant, names Baudson CEO
Paris-based investment giant Amundi — Europe’s largest fund manager with €1.7 trillion of assets — announced that chief executive Yves Perrier will be succeeded by…
Hydrogen-Refueling-Solutions valued at €383m in IPO
Hydrogen-Refueling-Solutions (HRS), the French company specialising in hydrogen refuelling stations, has listed on Euronext Growth Paris with a ticker code of ALHRS. The listing is…
UK Govt pension liabilities soar 21% to £6.4 trillion
The UK government’s pension liabilities soared to £6.4 trillion in 2018, up 21% from 2015, according to new figures from the Office for National Statistics (ONS)….
Deutsche is top SSA debt arranger with $82bn deals
Deutsche Bank said it has climbed to the top of the league table for Sovereign, Supranational and Agency (SSA) debt issuance in what has been…
Daimler to become Mercedes-Benz, spin off trucks
German car maker Daimler announced it is planning to spin off of Daimler Truck — the world’s biggest truck and bus maker — and rename itself…
EU disburses €14bn SURE cash to nine countries
The European Commission said it has disbursed €14 billion to nine member states in the fourth instalment of financial support to EU countries under the…
Law giant Simpson Thacher to open Brussels office
Leading international law firm Simpson Thacher & Bartlett LLP said on Monday it plans to open an office in Brussels this summer in the wake…
Commerzbank targets 10,000 job cuts
Commerzbank said on Thursday it is proposing to cut 10,000 jobs and close hundreds of branches as part of a strategy revamp announced just weeks…
Nordic Capital offers to buy $846m Advanz Pharma
London-based Advanz Pharma on Wednesday recommended an $846 million takeover proposal from Nordic Capital, making the private equity fund a favorite to acquire the drug company. “This…
EU grants full equivalence to US clearing houses
The European Commission said on Wednesday it will allow US financial firms to provide central clearing services in the European Union. The decision coincides with the UK’s efforts…
European Commission places €14bn social bond
The European Commission said on Wednesday it issued a €14 billion social bond under the EU SURE instrument “to help protect jobs and people in…
FIFA: World Cup ban for Super League players
FIFA, world soccer’s governing body, has warned that players who get involved in any breakaway European Super League would be banned from playing in FIFA…
Germany’s Mytheresa valued at $3bn after US listing
Shares of German online luxury fashion retailer Mytheresa’s parent company soared as much as 39% in their US stock market debut on Thursday, giving the firm…
Delphine d’Amarzit named CEO of Euronext Paris
Euronext announced that Delphine d’Amarzit has been appointed CEO of Euronext Paris and member of the managing board of Euronext N.V., subject to regulatory and…
€170bn assets, 2,500 jobs moved to France post-Brexit
Bank of France governor Francois Villeroy de Galhau said nearly 2,500 jobs and €170 billion in assets have already been moved to France post-Brexit and…
UK debt sales hit £430bn as 25-year gilt raises £6.5bn
The United Kingdom Debt Management Office (DMO) announced on Tuesday that the syndicated launch of £6.5 billion (nominal) of 0⅞% Treasury Gilt 2046 was priced…
Gambling firm Huuuge plans Warsaw Exchange IPO
Huuuge Inc, the producer of free-to-play social casino games, said on Monday it expects to raise up to $150 million from a new share issue…
EU approves $27bn LSE takeover of Refinitiv
EU competition regulators have approved the London Stock Exchange Group’s $27 billion all-share takeover of Refinitiv. A merger of the firms could create a serious…
Telefónica sells €7.7bn phone masts to American Towers
Spain’s Telefónica said its Telxius Telecom subsidiary has agreed to sell its mobile phone mast division in Europe and Latin America to American Tower Corporation…
Patron raises €844m for European property fund
Patron Capital, the pan-European institutional investor focused on property-backed investments, said it has closed its most recent fund, raising €844 million. This includes €128 million…
French drug firm Sanofi buys Cambridge’s Kymab
French drug company Sanofi has agreed to buy Cambridge, England-based immunotherapy firm Kymab for up to $1.45 billion. Kymab is a clinical-stage biopharmaceutical company developing…
Deutsche Bank pays $130m in bribery, fraud settlement
The U.S. Department of Justice said on Friday that Deutsche Bank has agreed to pay more than $130 million to resolve the US government’s investigation…
EU to buy 300m more doses of BioNTech-Pfizer vaccine
The European Commission said on Friday it has proposed to EU Member States the purchase of an additional 200 million doses of the COVID-19 vaccine…
LafargeHolcim buys $3.4bn Firestone Building Products
Switzerland’s LafargeHolcim, the world’s biggest cement maker, has agreed a $3.4 billion deal to buy US commercial roofing giant Firestone Building Products from Japan’s Bridgestone…
European M&A up 5.6% to $847bn – Mergermarket
Mergermarket’s global mergers and acquisitions (M&A) roundup for 2020 has revealed that $847.2 billion was spent on European assets in 2020 across 6,658 deals, representing…
Ireland sells €5.5bn debt; demand drives yield negative
Ireland’s debt agency said it raised almost a third of its 2021 fundraising target on Tuesday by selling €5.5 billion of 10-year bonds at a…
London loses 90% of EU share trading on first day
The three biggest trading venues in London that handle European shares saw almost all of this business move into the European Union on Monday, the…
Italy’s Angelini Pharma buys $960m Swiss-based Arvelle
Italy’s Angelini Pharma said on Monday it will buy Switzerland-based Arvelle Therapeutics in a cash transaction that values the biopharmaceutical company at up to $960…
EU and China agree major investment deal
The EU and China on Wednesday concluded in principle their negotiations for a Comprehensive Agreement on Investment (CAI). The EU said China has committed to…
EU Council adopts Brexit deal pending parliament OK
The Council of the European Union said on Tuesday it has adopted, by written procedure, the decision on the signing of the EU-UK Trade and…
Delivery Hero to sell Yogiyo to seal $4bn Woowa deal
Germany’s Delivery Hero said it has agreed to sell South Korean food delivery app Yogiyo as part of the conditions for regulatory approval of its…
EU approves $38bn Fiat Chrysler-PSA merger
The European Commission said it has approved, under the EU Merger Regulation, the proposed $38 billion merger between the automotive companies Fiat Chrysler Automobiles N.V….
EU investigates $30bn Aon-Willis Towers deal
The European Commission said it has opened an in-depth investigation to assess the proposed acquisition of Willis Towers Watson by Aon, under the EU Merger…
AstraZeneca agrees to buy Alexion for $39bn
Cambridge-based AstraZeneca said on Saturday it has agreed to buy US drug company Alexion Pharmaceuticals for $39 billion in stock and cash in its largest…
Fund managers with $9tn assets set net zero goal
Asset management firms representing over $9 trillion of assets under management (AUM) have announced the launch of the Net Zero Asset Managers initiative. The global…
Highland Europe raises €700m for fourth fund
Venture capital group Highland Europe announced it has raised €700 million for its fourth fund, its largest yet, “to double-down on its strategy of backing…
Klarna names Michael Moritz as its new chairman
Klarna, the Swedish “buy now and pay later” payments firm, announced the appointment of veteran Silicon Valley venture capitalist Michael Moritz, a partner at Sequoia…
S&P Global to pay $44bn in stock to acquire IHS Markit
S&P Global Inc has agreed to pay $44 billion in stock to acquire IHS Markit Ltd in the biggest deal of 2020. The deal accelerates…
Spanish banks BBVA and Sabadell call off merger talks
Spanish bank Banco Bilbao Vizcaya Argentaria (BBVA) and its smaller rival Banco Sabadell have ended merger talks after they failed to agree on price. The move…