(Reuters) – UBS Fund Management (Switzerland) AG now holds a 3% stake in Swiss National Bank, according to an October filing with the country’s SIX stock exchange. According to LSEG data, UBS Asset Management (Switzerland), another subsidiary of the UBS group, also has a stake in the Swiss central bank. UBS and the SNB declined …
UBS fund management arm reports 3% stake in Swiss National Bank Read More »
LONDON (Reuters) -Close Brothers shares fell 15% on Friday after the British Court of Appeal upheld an appeal against the financial firm, ruling that motor dealers acting as credit brokers have a fiduciary duty to their customers. Close Brothers said in a statement it intends to appeal this decision to the UK Supreme Court. It …
Close Brothers fall 15% after UK motor finance ruling; Lloyds down Read More »
LONDON (Reuters) – The pound stayed on track for its biggest four-week decline in over a year on Friday, albeit it steady on the day, as investors cling to the dollar in choppy political and macroeconomic waters. Sterling traders are also preparing for the new Labour government’s first budget on Oct. 30. Finance minister Rachel …
Sterling set for biggest four-week drop in a year before UK budget Read More »
By David Lawder WASHINGTON (Reuters) – Greek Finance Minister Kostis Hatzidakis told Reuters that the government will maintain fiscal prudence to safeguard its growth path and emergence from a debilitating debt crisis a decade ago, even amid higher wage demands by striking teachers and ferry workers. Speaking on the sidelines of International Monetary Fund and …
Greek finance minister vows to keep debt’s share of economy shrinking Read More »
FRANKFURT (Reuters) – Jefferies has a 5.3% stake in Commerzbank though derivatives, a regulatory filing on Friday showed. The disclosure comes after Reuters and others reported this week that UniCredit has further hedged potential downside risks on its stake in Commerzbank by signing financial derivative contracts with Jefferies to keep its options open (Reporting by …
Jefferies holds 5.3% stake in Commerzbank through derivatives Read More »
By Tim Hepher PARIS (Reuters) -French jet engine maker Safran raised its profit forecast for the year even as supply bottlenecks forced it to lower its revenue predictions on Friday, buoyed by demand for profitable services on planes that are already flying. Disruption in industrial supply chains and an ongoing strike at Boeing have worsened …
Safran raises profit target after 9-month sales grow 17% Read More »
WARSAW (Reuters) – Poland will amend its budget bill for 2024, a government website showed on Friday, after Finance Minister Andrzej Domanski said last month that September’s devastating floods in southern Poland were likely to lead to changes in this year’s budget. The agenda on the government website on Friday said the amendment was due …
Poland to amend budget bill for 2024, in wake of floods Read More »
BERLIN (Reuters) – Germany’s four largest high-voltage energy transmission systems operators (TSOs) need 17.03 billion euros ($18.43 billion) from the country’s budget next year to pay out subsidies for green electricity, they said on Friday. A German surcharge on renewable energy support will be covered completely by the federal budget from 2025 to lower the …
German grid operators need 17 billion eur for green energy support next year Read More »
By Francesca Landini MILAN (Reuters) -Italian energy group Eni will increase its share buyback programme by 25% to 2 billion euros ($2.2 billion), it said on Friday, after beating third-quarter profit expectations. It reported an adjusted net profit of 1.27 billion euros, topping the 1.08 billion expected by analysts in a poll compiled by the …
Italy’s Eni to boost buyback after Q3 profit beats expectations Read More »
By Selena Li HONG KONG (Reuters) – HSBC’s Hong Kong unit has joined China’s worldwide interbank renminbi payment system (CIPS) as a direct offshore participant, according to a company statement. Beijing is pushing to internationalise the yuan, which ranks fourth in global payments according to the global bank messaging network SWIFT, and challenge the U.S. …
HSBC joins China’s payment system in boost to yuan usage Read More »
