Europe
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Crédit Agricole won an appeal against the European Central Bank on Wednesday against fines levied against the treatment of some of its instruments as common equity tier one (CET1) because the central bank had provided “inadequate reasons” for penalising the French lender. -
Brockhaus Capital Management (BCM), an investment firm focused on acquiring high growth tech companies, has priced an IPO in Frankfurt raising funds for further acquisitions.
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JP Morgan has extended its lead in European investment banking, scotching accusations of a retreat and dashing hopes of a change in the status quo, writes David Rothnie.
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BBVA has become the first bank to print a green additional tier one (AT1) deal. When it was issued this week, it proved that the demand for socially responsible investments (SRI) extends to the riskiest of asset classes, meaning other banks are certain to bring out their own versions of the trade, writes David Freitas.
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Conditionality has become a central area of contention as the EU shapes its coronavirus recovery plan. The bloc should focus on the environment, not on fiscal responsibility.
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Commerzbank’s future strategy is up in the air after it was announced that its chief executive and chairman would be leaving after its “5.0” strategy received a poor welcome.
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A European Union recovery fund proposal is expected to be presented to a summit of European leaders on July 17-18. Its size is to remain unchanged from a proposed €500bn of grants and €250bn of loans, but the EU budget is likely to be slimmed down, according to sources.
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Following the sale of its third syndication of the year this week — a €3bn inflation-linked bond — France does not expect to bring any more public benchmarks in 2020.
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Equity investors are turning their focus away from rescue capital raises and towards other long-term priorities after the initial shock of the Covid-19 outbreak. At the beginning of the year, increased investor scrutiny of environmental, social and governance (ESG) factors was on the tip of all tongues in Europe’s equity capital markets, and it is now featuring heavily in conversations again.
