UBS on Wednesday beat bottom line expectations as the lender seeks to rein in steep share declines that have cost it the crown of continental Europe's largest bank amid sweeping U.S. tariffs.
A sign for Deutsche Bank AG at a bank branch in the financial district of Frankfurt, Germany, on Thursday, Feb. 2, 2023. Bloomberg | Bloomberg | Getty ImagesGermany's largest lender Deutsche Bank on Tuesday posted higher-than-expected first-quarter profit on robust investment banking performance, as lenders in Europe's largest economy navigate...
The facade of Norway's central bank, also known as Norges Bank, in Oslo, Norway.Bloomberg | Bloomberg | Getty ImagesNorges Bank Investment Management — the largest sovereign wealth fund in the world — on Thursday reported a first-quarter loss of 415 billion kroner ($40 billion), citing weakness in the tech sector."The...
Chinese and U.S. flags flutter near The Bund, before U.S. trade delegation meet their Chinese counterparts for talks in Shanghai, China July 30, 2019.Aly Song | ReutersChina's finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10, following duties imposed...
The White House's protectionist policies could hit the U.S. harder than Europe in the short term, Banco Santander's executive chair told CNBC on Thursday, as tariffs take a toll on domestic consumers."Tariffs [are] a tax. It's a tax on the consumer." Ana Botín said in an interview with CNBC's...
The German parliament building, the Reichstag, which has been the seat of the Bundestag since 1999.Fhm | Moment | Getty ImagesU.S. tariffs could push Europe's largest economy into a recession, German central bank President Joachim Nagel warned Thursday, as Berlin faces a debate over the potential overhaul of its...
Signage at the Alibaba Group Holding Ltd. offices in Beijing, China, on Wednesday, March 29, 2023. Alibaba's overhaul could serve as a template for a restructuring of China Tech itself: a shake-up that achieves Beijings aim of carving up the countrys tech titans while unlocking potentially billions of dollars...
Ironing out the 2026 budget of the euro zone's second-largest economy will prove a "demanding" task, French Economy Minister Eric Lombard told CNBC's Charlotte Reed, after lawmakers earlier this month finally adopted 2025's financial plan after a spate of tumultuous, government-toppling attempts.France has charted a trajectory to reduce its...
Chris Ratcliffe | Bloomberg | Getty ImagesBritish bank Barclays on Thursday posted a rise in full-year pre-tax profit that came in just ahead of analyst expectations, while also launching a £1 billion share buyback.Pretax profit rose by 24% to £8.108 billion in 2024, just above analyst expectations of £8.081...
The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt.Daniel Roland | Afp | Getty ImagesGermany's second-largest lender Commerzbank on Thursday announced it will eliminate 3,900 full-time positions by 2028, largely in its native Germany, as it unveiled a spate of new...