Business

The €10bn offer, which would merge two of Italy’s largest lenders, comes while UniCredit is building up its stake in Germany’s Commerzbank. ADVERTISEMENT Italian lender UniCredit has launched a €10.1bn surprise offer for its smaller rival Banco BPM. The larger lender announced on Monday that it would offer 0.175 of its own shares for each share in Banco BPM, valuing …

After reaching a two-week high, crude oil prices fell back on Monday as investors rebalanced positions in major asset classes. However, bullish factors remain in the near term as geopolitical tensions rise. ADVERTISEMENT Crude oil prices rose to a two-week high amid a major escalation in the Ukraine and Russia war. The Brent futures at ICEsurged 5.8% and the WTI …

This week, US politics and geopolitical tensions remain a focus for investors. Economic data such as the EU inflation, the US GDP, and RBNZ’s rate decision will take centre stage in regional markets. ADVERTISEMENT Last week, stock markets saw a recovery of bullish trends on Wall Street as the Trump Trade continued to fuel the rally. Meanwhile, rising geopolitical tensions …

Launched in 2015, Revolut announced earlier this month that it had hit the 50 million customer mark globally, emerging as the most downloaded financial app in Europe. ADVERTISEMENT The expansion of fintechs in the eurozone is being restricted by a lack of regulatory unity, said Joe Heneghan, head of Revolut Europe. “What you meet in different countries, unfortunately, are variations …

The Barbie movie created a global cultural event and with at least 16 more films aimed at adults in the pipeline, could this signal the start of a new era in the toy industry? ADVERTISEMENT Barbie was the highest grossing movie worldwide in 2023 and topped internet searches in the US for movie merchandise earlier this year.  During the pandemic, …

European natural gas prices hit €46/MWh in November, spiking 16% on the month due to a cold snap, reduced wind output, and Russia-Ukraine tensions. LNG supply delays and high heating demand intensify risks, with analysts raising 2025 TTF forecasts amid tightening markets. ADVERTISEMENT European natural gas prices have surged in November, with the Dutch Title Transfer Facility (TTF) benchmark climbing …

German auto technology supplier Bosch to cut thousands of jobs, citing stagnant demand for cars and new technology. ADVERTISEMENT Germany’s technology and services company Bosch said on Friday it planned to reduce its automotive division workforce by as many as 5,500 jobs in the next several years in another sign of the headwinds hitting the German and global auto industries. …

ExxonMobil could partner up with Eni and Total to jointly develop natural gas deposits off Cyprus. ADVERTISEMENT ExxonMobil could partner up with a consortium composed of Eni of Italy and Total of France to jointly develop gas deposits they’ve discovered close to each other off Cyprus’ southern coast, the Cypriot energy minister said on Friday. Minister George Papanastasiou said ExxonMobil …

Bitcoin extended its streak of record highs after ticking above $99,000 (around €95,000) for the first time overnight. The cryptocurrency has rocketed more than 40% in just two weeks. ADVERTISEMENT Bitcoin is at the doorstep of $100,000, just two years after dropping below $17,000 following the collapse of the crypto exchange FTX. The dramatic rally arrives as industry players expect …

The Swedish battery developer and manufacturer, Northvolt, has filed for bankruptcy in the US, as the company struggles with mounting debt, after it was unable to secure rescue funding and was left with only one week of cash reserves. ADVERTISEMENT Swedish battery cell maker Northvolt AB, which produces battery cells for electric vehicles (EVs), has announced that it has filed …