Russia’s Central Bank says it has filed a lawsuit in Moscow’s Arbitration Court against Euroclear, the Brussels-based clearing house that holds a large share of Russia’s immobilized assets in Europe. The bank said it is seeking compensation for damages linked to restrictions that prevent it from managing or disposing of assets held through Euroclear. Euroclear declined to comment, and it…
The United Kingdom is set to purchase approximately $10 billion worth of Boeing aircraft, a deal that underlines the growing strategic partnership between the UK and the United States. The announcement was made by U.S. Commerce Secretary Gina Raimondo during an event highlighting trade cooperation and investment between the two allies. While the full details of the transaction, including the…
U.S. Department Of Justice Secures Major Settlement Credit Suisse Services AG, a unit of Swiss banking giant Credit Suisse, has pleaded guilty to assisting ultra-wealthy U.S. clients in evading taxes through undeclared offshore accounts. This admission comes as part of a sweeping agreement with the U.S. Department of Justice (DOJ), which will see the bank pay $511 million in penalties.…
Oil Giants Report Declining Profits In the first quarter of 2025, Exxon Mobil and Chevron experienced significant drops in profits, marking their lowest earnings in years. Exxon reported a net income of $7.71 billion, or $1.76 per share, down from $8.22 billion, or $2.06 per share, in the same period last year. Revenue also fell short of expectations, totaling $83.13…
Robust First-Quarter Earnings Amid Rising Concerns European banks kicked off 2025 with solid first-quarter earnings, but optimism is being tempered by growing signs of economic instability. Major players like Deutsche Bank, Barclays, UBS, and HSBC posted better-than-expected profits, driven largely by strong investment banking and trading activity. Deutsche Bank’s 39% rise in net income was powered by its fixed-income trading…
New Move in Italy’s Intense Banking Battle Mediobanca has entered the spotlight in Italy’s escalating banking takeover battle with a bold $7.15 billion bid for Banca Generali. The offer, valued at 6.3 billion euros, would be financed by handing over Mediobanca’s substantial stake in insurer Generali. This move, announced Monday, marks a strategic effort by Mediobanca to shift its focus…
Board Election and Pay Packages Approved Despite Criticism Bank of America shareholders have voted in favor of the compensation packages for top executives, including CEO Brian Moynihan, and have re-elected all 14 board members. The decision comes amid scrutiny from shareholder advisory groups, some of which advised a vote against the pay approvals. Moynihan’s compensation for the previous year rose…
