Reuters UK Business

DUESSELDORF (Reuters) – A deadline for German antitrust authorities to give possible initial approval for Italy’s UniCredit in taking a substantial stake in Germany’s Commerzbank expires on April 14, a spokesperson for the regulator said on Wednesday. Last month, UniCredit lodged an application with the German authorities for the approval, and earlier on Wednesday the …

German regulator sets April deadline for any initial UniCredit-Commerzbank nod Read More »

(This March 18 story has been refiled to clarify that the proportion of group capital allocated to the investment bank may shrink further, in paragraph 8) By Sinead Cruise LONDON (Reuters) – Barclays chief financial officer Anna Cross said on Tuesday the bank was axing unrewarding customer relationships, and could make further cuts to the …

Barclays CFO says client returns and investment bank capital under scrutiny Read More »

COPENHAGEN (Reuters) -Danish lender Nykredit said on Wednesday it has secured a stake of more than 80% in Spar Nord Bank following a $3.6 billion bid for its domestic rival last year, and aims to complete a takeover and a delisting of the bank’s stock. The offer period to Spar Nord shareholders has been extended …

Nykredit secures 80% stake in Spar Nord Bank, plans takeover and delisting Read More »

By Sinead Cruise, Andres Gonzalez LONDON (Reuters) -The UK arm of Spain’s Banco Santander said on Wednesday around 750 staff could lose their jobs under plans to close a fifth of its branch network, raising fresh questions about the scale of the lender’s UK presence. Santander UK, which has recently been the subject of speculation …

Santander UK to axe a fifth of branches, around 750 jobs at risk Read More »

By Matthias Inverardi and Tom Sims DUESSELDORF (Reuters) -Germany’s largest real estate group Vonovia on Wednesday posted a third consecutive annual loss for 2024, reporting further writedowns of its property values as the country’s real estate sector struggled. The figures from Germany’s biggest residential landlord come as its property sector is mired in its worst …

Vonovia posts third year of losses for 2024 on writedowns as sector struggles Read More »

FRANKFURT (Reuters) -Volkswagen said on Wednesday it sold a 2.2% stake in Traton for 360 million euros ($393 million) or 32.75 euros per share for better trading in shares of the commercial-vehicles subsidiary. Volkswagen late on Tuesday said the transaction would enhance the free float and trading liquidity of Traton shares and that Volkswagen would …

Volkswagen sells 360-million-euro Traton stake for 32.75 euros per share Read More »