Categoria: News Finance
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Credit Agricole vows to defend Italian interests after strong end to 2024
Credit Agricole (CAGR.PA), opens new tab has vowed to defend its interests in Italy, with outgoing CEO Philippe Brassac saying the French bank had no plans to buy Banco BPM (BAMI.MI), opens new tab, which is the target of an unsolicited bid from UniCredit (CRDI.MI), opens new tab. “Our only motivation is to defend our own interests, we are…
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IMF chief: Eurozone has tools for greater growth if it learns from US
The head of the IMF, Kristalina Georgieva, was speaking at a panel in Davos alongside ECB President, Christine Lagarde. The eurozone should look to the United States if it wants to compete more effectively for global investment, said managing director of the International Monetary Fund (IMF) Kristalina Georgieva, on Friday. “The United States has a…
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Tanzania: East Africa’s New Powerhouse
Tanzania’s socioeconomic transformation drives economic dominance by attracting substantial investments and dominating intraregional trade. Tanzania is undergoing eye-catching socioeconomic transformation. The East African nation has opted to go on quietly pursuing economic supremacy. Outsiders, however, are taking note. Kenyan President William Ruto is among them. In late November, he acknowledged Tanzania’s trade performance, which is…
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Developing economies have greater challenges ahead, warns World Bank
Weak investment and climate change threaten growth in developing economies after a period of strong expansion. By the end of this year, developing economies are expected to record the weakest long-term growth outlook since 2000, said the World Bank on Thursday. In this case, developing economies include all those that are not classified as advanced…
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Trump plans crypto-friendly orders in first few days in power
President-elect Donald Trump is planning to use his executive powers to reduce the regulatory burden faced by cryptocurrency companies and promote digital asset adoption in his first few days in office, according to three people briefed on the plan. Trump, who courted crypto cash on the campaign trail with promises to be a “crypto president,” is expected…
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How much is social media platform TikTok worth and who could buy it?
The popular app TikTok could be banned on 19 January under a US federal law that would force the video sharing platform to divest itself from its China-based parent company, ByteDance, or shut down its US operations. Several parties have expressed interest in buying the platform but ByteDance has repeatedly said it does not plan…
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Goldman Sachs creates new team to boost focus on financing
Goldman Sachs (GS.N), opens new tab is creating a new team that will enhance its focus on financing mega deals and providing loans to corporate clients, as the Wall Street giant looks to grab a bigger slice of the lucrative private credit market. The new division, called Capital Solutions Group, will be a part of the investment…
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Bankers hope for IPO revival in 2025 as high-profile listings stack up
Investment bankers are gearing up for a pickup in dealmaking activity in global equity capital markets this year, buoyed by a promising pipeline of anticipated initial public offerings of several high-profile companies. Liquefied natural gas producer Venture Global, privately held medical supply giant Medline, and cybersecurity company Sailpoint, backed by private equity firm Thoma Bravo, are expected…
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US Steel, Nippon Steel sue Biden admin over blocked acquisition
Biden blocked the proposed sale on national security concerns Nippon Steel and U.S. Steel have filed a lawsuit challenging the Biden administration’s order to block the nearly $15 billion deal for the Japanese company to buy the American steelmaker. The lawsuit, filed in the U.S. Court of Appeals for the District of Columbia Circuit, asks the court…
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Milei Ends Argentina’s Deficit After 123 Years
When Javier Milei was elected president of Argentina in 2023, many believed the nation was headed toward disaster. A libertarian economist and TV personality who claimed to take telepathic advice from his five cloned English mastiffs, Milei also described himself as an “anarchocapitalist” and “tantric sex guru.” He also advocated for the legalization of organ…