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Head of financial institutions group for Europe relocates at sensitive time for its operations on the continent
...Drahi has signalled he is open to selling various parts of his telecoms and media empire, which includes assets in France, Israel and the US, as it faces debt repayments in the coming years....
...On Wednesday, France’s top court said it would give its final verdict in November in UBS’s long-running tax evasion case where the bank is contesting a €1.8bn penalty....
...Last year EY won a share of the €60mn-a-year audit contract of France’s largest bank BNP Paribas, prompting senior partner Omar Ali to tell staff the firm was “now the clear market leader in financial services...
...It will focus on launching a digital wallet and instant payments system in Germany and France by the end of the year....
...Other large European banks, including ING of the Netherlands and BNP Paribas of France, suffered sharp share price falls last week after warning of lower revenues in 2024 as the market gears up for the impact...
...UBS argued that while its bankers did go to France and attended social events, prosecutors lacked evidence of the solicitation....
...But banks, including BNP Paribas in France and BBVA in Spain, have slowly begun issuing AT1s and found willing buyers....
...France’s third-biggest bank by market value will also aim for annual revenue growth of between zero and 2 per cent on average between 2022 and 2026, lower than its previous target of 3 per cent growth by...
...Walker said he was also concerned about the protectionist drift of the EU under the growing influence of France....
...down by consumer stocks and also by a warning from the head of the region’s central bank, who alerted investors to the outlook for interest rates.The region-wide Stoxx Europe 600 fell 1 per cent, as did France...
...European insurers including Generali reported a rise in so-called lapses at the start of the year in countries such as Italy and France, particularly in policies sold through banks, where customers are more...
...A key factor for this is the popularity of the Livret A, a 200-year-old savings account designed to help restore France’s public finances after Napoleon Bonaparte’s wars....
...While fixes of more than five years are rare in the UK, the average length of a mortgage in France is 23 years, according to the Bank of France....
...I had the chance to work on Tim Walker’s Wonderful Things exhibition in 2019, and spend a lot of time there....
...Here’s the FT’s Owen Walker....
...He joined shortly before last year’s Paris fair and at the time was working two transatlantic jobs (his previous role at the Walker Art Center in Minneapolis didn’t end until last October)....
...In France, for instance, caps on the rate at which mortgages can be repriced is damping the benefits for lenders and making it harder to offer home loans....
.... £10.99 (Walker Books), blackwells.co.uk The Little Prince by Antoine de Saint-Exupéry, translated by Katherine Woods This is a gorgeous slip-cased gift edition of a treasured classic....
...Born to Polish academic parents in Bulgaria, Krupa initially grew up in communist Krakow, before moving to Lille in northern France aged six....
...Additional reporting by Owen Walker in London...
...On Tuesday, Meta said that it would “deprecate” the dedicated tab on Facebook that showcases news stories in early December in the UK, France and Germany....
...France’s lenders are suffering from the most significant setbacks....
...Earnings at France’s third-biggest bank beat analysts’ expectations in the final three months of the year, but its net income fell from €1.8bn to €1.2bn compared with a year earlier after setting aside €413mn...
...The troubled European lender’s shares lost 24.2 per cent, dragging down its peers in France and Germany....
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