Economic
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Goldman Sachs buys Australia logistics properties to beef up real estate portfolio
Goldman Sachs Group’s (GS.N), opens new tab alternative investments platform said on Tuesday it bought seven logistics-focused properties across Australia to scale up its real estate portfolio. These “last-mile” properties are located along urban highways in Adelaide, Brisbane, Perth and Melbourne and are leased to e-commerce, transport and wholesale distributors, Goldman Sachs Alternatives said. Last-mile logistics assets […]
UniCredit tops profit forecast, makes cloud investment
Italian bank UniCredit (CRDI.MI), opens new tab beat second-quarter profit expectations on Wednesday and said it was buying a Belgian digital bank that has its own cloud-based IT platform for 370 million euros ($401 million). UniCredit, which has a large Russia presence and has turned to the European Court of Justice against European Central Bank demands it exits the […]
BNP Paribas’ retail weakness takes shine off equity trading boost
France’s BNP Paribas (BNPP.PA), opens new tab exceeded expectations with a big jump in earnings on Wednesday thanks to a boost in equities trading, although a sharp drop in net interest income at its domestic retail business unnerved investors. The euro zone’s biggest bank said net income grew by 21% on a reported basis from a year […]
Capital One profit drops 61% as it stockpiles more money for loan losses
Capital One Financial’s (COF.N) , opens new tab profit fell 61% in the second quarter, it reported on Tuesday, as it set aside more money to cover losses on loans. Net income available to common stockholders fell to $531 million or $1.38 per share versus $1.35 billion or $3.52 per share a year earlier. “The U.S. consumer […]
KKR-backed OneStream prices US IPO above range to raise $490 million, sources say
Financial software maker OneStream (OS.O), opens new tab, which is backed by private equity firm KKR (KKR.N), opens new tab, priced its U.S. initial public offering (IPO) above its indicated range on Tuesday, raising $490 million, people familiar with the matter said. The company, whose software offerings assist organizations with tasks including planning, budgeting and forecasting, and […]
Visa prevented $40 bln worth of fraudulent transactions in 2023- official
Visa (V.N), opens new tab prevented 80 million fraudulent transactions worth $40 billion globally last year thanks to investments in technology including artificial intelligence (AI), a senior company figure said on Tuesday. In 2025, cybercrime is projected to cost the world $10.5 trillion. If this were a nation’s gross domestic product, it would rank as the world’s […]
Foxconn to invest $138 mln for new business headquarters in China
Taiwan’s Foxconn, the world’s largest contract electronics maker and Apple’s biggest iPhone assembler, said on Wednesday it plans to invest 1 billion yuan ($137.5 million) to construct a new business headquarters in Zhengzhou, China. Foxconn, formally called Hon Hai Precision Industry Co Ltd (2317.TW), opens new tab, signed a contract with the Henan provincial government for […]
Swiss bank Julius Baer names Goldman Sachs executive as new CEO
Julius Baer (BAER.S), opens new tab has hired Goldman Sachs (GS.N), opens new tab partner Stefan Bollinger as its new chief executive, it said on Tuesday, as the Swiss private bank seeks to move on from the Signa debacle which cost it millions and dented its reputation. The appointment ends a search for a successor to Philipp Rickenbacher who […]
BBVA bid target Sabadell forecasts higher lending income, raises payouts
Spain’s Sabadell (SABE.MC), opens new tab raised its lending income outlook for 2024 and lifted its shareholder distribution target on Tuesday, as it tries to fend off a hostile takeover by BBVA (BBVA.MC), opens new tab. Higher-than-expected interest rates have boosted lending income at Spanish banks, which have benefited from charging customers higher costs for floating rate loans, […]
NYCB closes sale of about $6 bln mortgage warehouse loans to JPMorgan Chase
Regional lender New York Community Bancorp (NYCB.N), opens new tab said on Monday it had closed the sale of about $5.9 billion in mortgage warehouse loans to Wall Street giant JPMorgan Chase (JPM.N), opens new tab. The bank said it expects to close on an additional $200 million of mortgage warehouse loans in the near future, once necessary […]
