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Raiffeisen Bank has partnered with Wise Platform to enhance cross-border payment services for clients in Central and Eastern Europe. This collaboration aims to provide fast, secure, and cost-effective international transactions, allowing customers to transfer money conveniently from their Raiffeisen accounts. The integration of Wise’s infrastructure will facilitate instant and transparent payments across over 160 countries and in more than 40 currencies, while both institutions remain committed to meeting regulatory requirements and evolving client needs.
BNP Paribas has been appointed by Schroders as the asset servicing partner for Future Growth Capital's launch of two UK Qualifying Asset Holding Company fund structures. This collaboration aims to provide UK pension schemes with access to private market investments, targeting £10-20 billion deployment over the next decade. The initiative supports the Mansion House Compact's objectives to enhance pension outcomes for UK savers while investing in local businesses.
GBP/USD is experiencing a pullback after facing resistance near 1.3500, with bearish momentum indicated by a MACD crossover and a breach of short-term support. Key support levels to watch are at 1.3070 and 1.3010, as the pair continues its downward trend.
HSBC Holdings has repurchased 4.97 million shares for a total of HKD 445 million as of May 12. In the UK market, 2.59 million shares were bought back at prices between GBP 8.736 and GBP 8.845, while in Hong Kong, 2.38 million shares were repurchased at prices ranging from HKD 88.1 to HKD 90.6.
The dollar surged 1.6% amid rising Treasury yields, fueled by optimism over a U.S.-China trade deal that pauses tariffs for 90 days. However, Deutsche Bank warns that the benefits of recent trade agreements favor global growth over the dollar, potentially limiting its gains. The bank highlights ongoing uncertainty regarding U.S. fiscal policy as a significant concern.
Banco Santander has rejected NatWest's $14.6 billion bid for its UK retail banking operations, deeming the offer too low. The proposal, which was advised by Morgan Stanley and UBS, was reported to be between £10 billion and £12 billion. This decision follows Santander's previous rejection of a lower offer from Barclays and comes as NatWest seeks to strengthen its domestic market presence after the UK government finalizes the sale of its stake in the bank.
AstraZeneca Plc has lost its position as the UK's most valuable company to HSBC Holdings Plc after a significant drop in its stock price. Following US President Donald Trump's plans to lower drug prices, AstraZeneca's shares fell by 5.8%, reducing its market capitalization to approximately £154 billion, while HSBC's reached £156 billion.
Rabobank maintains a cautiously optimistic outlook for the Pound Sterling, predicting a Pound-to-Dollar rate of 1.32 and a Euro-to-Pound rate of 0.87 over the next year. However, the bank notes that political risks and the strength of the Euro may hinder the Pound's recovery among G10 currencies. Despite recent political upheaval in the UK, the Pound has shown resilience, with local elections resulting in significant losses for both major parties while Reform UK gains traction.
HSBC Holdings PLC has repurchased over 7.5 million shares across UK and Hong Kong exchanges, totaling approximately US$264.4 million as part of its buy-back program. This significant move is expected to impact the company's share capital structure and influence market perceptions. Analysts maintain a positive outlook on GB:HSBA stock, citing strong financial performance and strategic corporate actions.
Santander has rejected NatWest's nearly $15 billion bid for its UK retail unit, stating that its UK operations are not for sale and are integral to its diversified business model. The state-backed British lender's approach is no longer active, as Santander reassesses its presence in the UK market.
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The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
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