Investment
Deutsche Bank has recorded a first quarter net income of €1.45 billion, 10% more than the total made during the same period last year. The figure came in above analysts' expectations and also marks the group's highest first-quarter profit since 2013. Net revenues, meaning earnings made before deducting expenses, grew 1% year on year to €7.8 billion, which was primarily driven by growth in commissions and fee income. Meanwhile, revenue at Deutsche Bank's investment wing was up 13%, at €3 billion. This was boosted by a 7% increase in trading of fixed-income assets such as bonds. Origination and ...
Euronews (English)
The share price of the UK banking giant Barclays surged nearly 5% after the lender reported higher than expected profits for the first three months of this year, as it carried out an ambitious plan to get back into the investors' good books. The pre-tax profit was £2.3 billion (€2.68 billion), slightly more than the expected £2.2 billion, however, down from £2.6 billion a year ago. The group income was also slightly above expectations, £7 billion (€8.16 billion), but again, a drop of 4% year-on-year, while the operating expenses increased by 2% to £4.2 billion (€4.9 billion). "Barclays has sho...
Euronews (English)
The survival of the European Green Deal could rest on the upcoming European Elections, Green MEPs have warned. They say that if right-wing parties make significant gains in June, plans to protect nature and mitigate climate change could be watered down or even disappear completely. Speaking at a briefing on Tuesday before his last session in the European Parliament on Wednesday, co-president of the Green group of MEPs Philippe Lamberts called out the “absolute bullsh*t” of politicians claiming to fight for climate action while doing the opposite. He criticised centrist politicians who he claim...
Euronews (English)
Fund managers are meant to be focused on value creation, and paid to make decisions that financially benefit the firm they invest in and, by consequence, the fund they manage. Yet, recent research suggests that’s not always the case and that, in the United States at least, their decisions can actually be driven by political motivations. What’s more, these managers then look to hide that bias by engaging in “signal jamming” to avoid any potential backlash for breaching their fiduciary duties. Not all behaviour is as expectedThis conclusion is based on an analysis of the proxy voting behaviour o...
Euronews (English)
JD Sports says it has entered a binding agreement to fully acquire Hibbett for $87.5 (€82) per share in cash, offering a 21% premium over the US company's Monday price and valuing it at just under $1.1 billion (€1.0 billion). "Today is a significant milestone for JD Sports as we take this transformative step as a global leader in the sports fashion industry through this transaction with Hibbett," JD Sports' chief executive officer Régis Schultz said in a statement. "With Hibbett's highly complementary footprint, this transaction represents a logical next step in our strategic growth plans, fur...
Euronews (English)
CVC Capital Partners is seeking a valuation of €13 billion to €15 billion as it readies itself to go public on the Amsterdam Stock Exchange. This means that 114 million shares, priced at €13 to €15 each, will become available to public investors, rather than being reserved for private buyers. CVC is issuing 18 million new shares, whilst the remaining 96 million are being sold by existing stakeholders. Sellers include Singapore sovereign wealth fund GIC, the Kuwait Investment Authority, and the Hong Kong Monetary Authority. Donald Mackenzie, one of the co-founders of CVC, is also expected to se...
Euronews (English)
The CMU is an initiative designed to create a single market for capital across the EU. It aims to get investment and savings flowing across member states for the benefit of citizens, businesses and investors. "The very existence of the CMU is like a power grid," said Rebecca Christie, Senior fellow at Bruegel, when she spoke to Euronews last month. "The EU needs better financing," she explained. "It needs smaller companies to be able to scale up and access funds, which have to come from somewhere." On Thursday, at an EU summit in Brussels, discussions about streamlined investment - the aim of ...
Euronews (English)
UK postal and courier service, Royal Mail, has received a takeover bid from Daniel Křetínský, a Czech billionaire who has also invested in Sainsbury's and West Ham United Football Club. Royal Mail has reportedly rejected the offer, however, and, according to Reuters news agency, Křetínský is now renegotiating the offer. Křetínský's EP Group has already acquired a 27.5% ownership share in Royal Mail through his investment entity, Vesa. He reportedly contacted International Distributions Services (IDS), the holding company of Royal Mail, about the offer earlier this month. "EP Group recognises t...
Euronews (English)
Ukraine is set to receive a grant in support of hospital reconstructions, worth 5 million euros ($5.3 million), from the Eastern Europe Energy Efficiency and Environment Partnership (E5P). Established in 2009, the E5P is a multi-donor and multi-international financial institution support fund, involved in various investment projects throughout Europe. The grant will aid in reconstruction measures for Ukrainian hospitals amidst the war, according to the press service of the Ministry of Community Development, Territories, and Infrastructure. Funding from the grant will be allocated towards repai...
Kyiv Independent
Ukraine is set to receive a grant in support of hospital reconstructions, worth 5 million euros ($5.3 million), from the Eastern Europe Energy Efficiency and Environment Partnership (E5P). Established in 2009, the E5P is a multi-donor and multi-international financial institution support fund, involved in various investment projects throughout Europe. The grant will aid in reconstruction measures for Ukrainian hospitals amidst the war, according to the press service of the Ministry of Community Development, Territories, and Infrastructure. Funding from the grant will be allocated towards repai...
Kyiv Independent (UK)
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