BEIJING — China's latest policy signals have a bigger impact on sentiment than resolving deeper issues such as real estate, analysts said. The Shanghai Composite rallied Thursday to close at a three-month high after state media reported Chinese President Xi Jinping led a Politburo meeting on the economy that morning....
UniCredit’s pursuit of Commerzbank reflects a watershed moment for Europe — and its banking union
European banking's latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc's incomplete banking union. Italy's UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany's second-largest lender with a 21% stake. The...
Caught cold by UniCredit’s swoop on Commerzbank, Germany will want to avoid a national embarrassment
Italy's UniCredit appears to have caught German authorities off guard with a potential multibillion-euro merger of Frankfurt-based Commerzbank, a move that has triggered a fiery response from Berlin. Market observers told CNBC that the swoop may have provoked a sense of national embarrassment among Germany's government, which firmly opposes the...
China central bank releases slate of support measures amid a deepening economic slump
BEIJING — China will cut the amount of cash banks need to have on hand, known as the reserve requirement ratio, or RRR, by 50 basis points, People's Bank of China Gov. Pan Gongsheng said during a press conference on Tuesday. Pan, who was speaking to reporters alongside two other...