banks

UniCredit to Raise 13 bln Euros in Italy’s Biggest Share Issue

By Stephen Jewkes, Gianluca Semeraro and Pamela Barbaglia MILAN/LONDON, Dec 13 – Italy’s largest bank, UniCredit, plans to raise 13 billion euros ($13.8 billion) in the country’s biggest-ever share issue to shore up its balance sheet and shield itself from a broader banking crisis. The plans announced on Tuesday, which also include 14,000 job cuts,

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Banks Preparing to Leave UK over Brexit, says Banking Body Chief Executive

LONDON, Oct 23  – Big international banks are preparing to move some of their operations out of Britain in early 2017 due to the uncertainty over the country’s future relationship with the European Union, a top banking official said. Writing in the Observer newspaper, Anthony Browne, the chief executive of lobby group the British Bankers’

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Battle Between Rival Chairmen of Libya’s $67 Billion Fund Reaches UK Court

  By Claire Milhench LONDON, March 7 – A long-running dispute over the leadership of Libya’s $67 billion sovereign wealth fund reaches London’s High Court on Monday, potentially paving the way for litigation against two global investment banks to move forward. The Libyan Investment Authority (LIA) wants to pursue Goldman Sachs and Societe Generale in

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Iraqi Kurdistan’s Cash Crisis Hits Banks—And the Region’s Promise

By Stephen Kalin BAGHDAD, Dec 4 – Iraqi Kurdistan’s cash-strapped government has seized billions of dollars in deposits at two branches of Iraq’s central bank since 2014, bankers said, calling into question the region’s image as a business-friendly paradise in the Middle East. Since Baghdad cut budget payments to Kurdistan in January 2014, the Kurdistan

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U.S. Develops New Tools in Economic War Against Daesh

By Yeganeh Torbati and Brett Wolf WASHINGTON, Nov 24 – Since last month, U.S. warplanes have struck Daesh’s oil infrastructure in Syria in a stepped-up campaign of economic warfare that the United States estimates has cut the group’s black-market earnings from oil by about a third. In finding their targets, U.S. military planners have relied

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