ECB’s Lagarde dodges question about French market turmoil

European Central Bank President Christine Lagarde largely dodged a question about turmoil in French financial markets on Friday, merely saying the ECB would deliver on its inflation target. French markets endured another brutal sell-off on Friday as investors cut their positions ahead of a snap election that might give a majority to the far right. Lagarde was asked […]

Former Freshfields partner’s jail sentence for German tax fraud in appeal

 The court sentence of a former partner at law firm Freshfields for his alleged role in a giant tax fraud case is being appealed by German prosecutors and defence lawyers, prosecutors told Reuters, potentially delaying any possible jail time. Ulf Johannemann, a former global tax head at law firm Freshfields, was sentenced by a Frankfurt court in […]

Italy’s bad loan manager doValue to buy rival Gardant, shares surge

Italy’s doValue (DOVA.MI), opens new tab has agreed to buy rival Gardant in a cash-and-stock deal, the country’s biggest bad loan company said early on Friday, bulking up in the face of ebbing flow of impaired debt due to banks’ surprisingly healthy loan books. Shares of doValue jumped as much as 9% in early trade, but trimmed […]

Credit Suisse AT1 bondholders sue Switzerland in New York

A group of Credit Suisse bondholders holding $82 million worth of the failed bank’s Additional Tier 1 (AT1) debt have filed a lawsuit against Switzerland seeking compensation, U.S. court filings on Thursday showed. Credit Suisse collapsed in 2023 and was taken over by rival UBS in a rescue orchestrated by Swiss authorities. As part of […]