Europe
DBS launches financing, hedging solutions for EU ETS climate obligations
                                                                                 
                    
                    EU ETS is the world’s first carbon emissions trading scheme.
                
                                
            DBS launches financing, hedging solutions for EU ETS climate obligations
                                                                                                                 
                            
                            EU ETS is the world’s first carbon emissions trading scheme.
                        
                                                
                        
    
                    Weekly Global News Wrap: Germany won't sell Commerzbank stake; BNP Paribas buys HSBC’s Germany unit
                                                                                                 
                        
                        And California Bank & Trust is acquiring $730m in deposits from FirstBank.
                    
                                        
                    
                Weekly Global News Wrap: Morgan Stanley offers Bitcoin ETFs; Berkshire Hathaway sells $3.8b BofA stocks
                                                                                                 
                        
                        And Wells Fargo is under investigation over issues in its AML programs.
                    
                                        
                    
                Japan’s SMBC sets up private credit fund in Europe
                                                                                                 
                        
                        The fund will focus on loan investments to middle market businesses.
                    
                                        
                    
                BNP Paribas, Ant Int’l ink MOU to enhance cross-border payments
                                                                                                 
                        
                        The MOU includes the further development of Ant’s Whale platform.
                    
                                        
                    
                Alipay+ payments now available in European taxi app FREENOW
                                                                                                 
                        
                        Tourists from China, Hong Kong, and Malaysia can use their local e-wallet to pay.
                    
                                        
                    
                Comarch aims to bridge Asian banks’ innovation with wealth needs
                                                                                                 
                        
                        The Polish tech firm is looking to help banks build their wealth management platforms.
                    
                                        
                    
                Weekly Global News Wrap: ECB raises concerns over UniCredit’s high turnover; China warns banks against “one-sided” credit pursuit
                                                                                                 
                        
                        And two JP Morgan & Chase top dealmakers are reportedly leaving the bank.
                    
                                        
                    
                Weekly Global News Wrap: Bain Capital sells Axis Bank stake for $429m; Switzerland boosts banking rules
                                                                                                 
                        
                        And Postbank employees escalate their strike for a 15.5% wage hike.
                    
                                        
                    
                Weekly Global News Wrap: Nomura eyes $10b US credit portfolio in 10 years; UBS CEO earned $15.9m
                                                                                                 
                        
                        And JPMorgan Chase revamps investment banking and capital markets leadership.
                    
                                        
                    
                Weekly Global News Wrap: HSBC may receive just $21.7m from Russia sale; 282 US banks at risk
                                                                                                 
                        
                        And Japan’s small businesses, homeowners brace for life after the interest rate policy shift.
                    
                                        
                    
                Weekly Global News Wrap: US banks’ profits down 40%; NYCB loses $5b in deposits
                                                                                                 
                        
                        And Greece’s biggest lender optimistic profits will grow through 2026.
                    
                                        
                    
                Weekly Global News Wrap: BBVA sets up finance unit for clean tech; Wells Fargo sued for ‘fake accounts’ scandal
                                                                                                 
                        
                        Top regulator calls for EU banks to improve risk management.
                    
                                        
                    
                Weekly Global News Wrap: US banks collect lower overdraft fees; Citi asked to improve internal oversight
                                                                                                 
                        
                        And investment to hedge funds hit a new low, according to Goldman Sachs.
                    
                                        
                    
                SMBC, Jefferies expand investment banking collaboration to EMEA
                                                                                                 
                        
                        In 2023, SMBC had raised its ownership of Jefferies to 15%.
                    
                                        
                    
                Weekly Global News Wrap: Citi to cut 20,000 jobs in two years; Spain’s BBVA expects higher dividend payout
                                                                                                 
                        
                        And crypto firms in UK are introducing new risk assessment and profile tests ahead of stricter regulations.
                    
                                        
                    
                Weekly Global News Wrap: Citi to exit distressed-debt trading business; Korea seeks to fine HSBC, BNP Paribas
                                                                                                 
                        
                        And Germany seizes $790m from the bank account of a Russian financial institution.