German Deutsche Bank, the ratings of which were downgraded by S&P Global Ratings due to lagging behind its competitors, could lose about 200 million euros of revenue per year, as it is forced to pay more when placing bonds than its competitors. Shares of the bank, which fell this year by 39%, will be excluded from the Euro Stoxx 50 index from the end of September. Against the backdrop of the current situation, Deutsche Bank management decided to reduce the cost of fund raising, the Financial Times writes referring to sources familiar with the situation. Analyst at Goldman Sachs, Gurney Ochamen, supported the decision of Deutsche Bank, noting that the bank's advantage over its competitors was always its ability to “raise funds at lower rates”.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
The Securities and Exchange Commission (SEC) announced on Monday that UBS Financial Services Inc. (UBSG) would pay more than $10 Million to resolve charges regarding certain municipal bond offerings. UBS has agreed to pay the fine after SEC ...
Major Japanese banks saw record demand for the corporate loans that were offered since April as the COVID-19 pandemic continues to have companies rushing in to build up cash reserves, according to a central bank survey on Friday. The figures ...
The French economy is emerging from the inactivity brought by the coronavirus outbreak as fast or faster than what was predicted a month earlier, Bank of France Governor Francois Villeroy de Galhau said on Sunday. Last month, the Bank of France ...
The western Japan prefecture may take two more years to recuperate from the damage of the novel coronavirus crisis. The forecast was rendered by Tetsuya Kan, head of a major regional bank in Osaka, as the pandemic ransacked the city’s ...