Reuters UK Business

By Sam Tobin LONDON (Reuters) – Mastercard lost an appeal in a London court on Tuesday against a ruling in a 10 billion pound-plus ($12 billion-plus) collective action that allows the claims of around three million people who have died since the lawsuit began to continue. The global payments processor is facing a lawsuit brought …

Mastercard loses UK ruling on three million dead claimants in $12 billion case Read More »

By Lawrence White, Iain Withers and Divya Rajagopal LONDON/TORONTO/NEW YORK (Reuters) -HSBC has agreed to sell its business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, paving the way for a potential bumper payout for shareholders later down the line. The deal will help RBC consolidate its leading position …

HSBC eyes bumper dividend from $10 billion sale of Canada unit to RBC Read More »

TORONTO (Reuters) – HSBC’s planned sale of its Canadian business to Royal Bank of Canada (RBC) for C$13.5 billion ($10 billion) would make it Canada’s largest banking deal, according to data from Dealogic. Below is a list of the top 10 deals announced prior to HSBC: *Aug 29, 2012 – Bank of Nova Scotia agreed …

Factbox-RBC’s $10 billion bid for HSBC unit to set record for Canada bank deals Read More »

By Divya Rajagopal and Saeed Azhar TORONTO/NEW YORK (Reuters) – Royal Bank of Canada’s swift move to buy HSBC’s Canada unit for C$13.5 billion ($10 billion) strengthens its pole position at home, but faces a long road to clear regulatory challenges. The deal is the biggest acquisition for RBC CEO Dave McKay and marks a …

Analysis-RBC tightens grip at home with $10 billion HSBC Canada bid, regulatory risks loom Read More »

MADRID (Reuters) – Spanish banks and the country’s two biggest unions on Tuesday reached an agreement to raise wages of employees in the sector by 4.5% in 2023 compared to 2022, the banking association AEB and the union CCOO said in a statement. Banks and unions were trying to reach an agreement with the banking …

Spanish banks and unions agree on 4.5% wage raise in 2023 Read More »

(Reuters) – Italy’s football association FIGC has opened an investigation into allegations that soccer club Juventus paid salaries to its players that were different to those it publicly reported. The Ansa news agency reported that the FIGC prosecutor has started looking into allegations of secret salary payments in 2020 and 2021. FIGC confirmed to Reuters …

Soccer-Italy’s FIGC to investigate Juventus for alleged pay irregularities Read More »

MILAN (Reuters) – Banco BPM has picked its top investor Credit Agricole to start exclusive talks over a non-life insurance partnership, Italy’s third-largest bank said on Tuesday. The French bank, which holds 9.2% of Banco BPM, has trumped a rival bid by insurer AXA in a deal which sources have said it is expected to …

Italy’s Banco BPM picks Credit Agricole for non-life insurance talks Read More »

By Jan Strupczewski BRUSSELS (Reuters) – European Union countries are inching towards a deal this week on a price cap on Russian oil, a way to adjust the cap in future, and on linking it to a package of new sanctions against Moscow over its invasion of Ukraine, diplomats said on Tuesday. The deadline for …

EU inches towards deal on Russian oil price cap this week Read More »

By Divya Rajagopal and Kanishka Singh TORONTO (Reuters) -Canadian regulators will review the sale of HSBC’s business in Canada to Royal Bank of Canada for C$13.5 billion ($10 billion) in cash, the Canadian government’s finance ministry said on Tuesday. “The Office of the Superintendent of Financial Institutions (OSFI) will administer the application process and provide …

Canadian regulators to review sale of HSBC’s Canada business to RBC Read More »