France’s AXA doubles 2021 profit
Axa reported a profit that more than doubled from last year. This is with the French insurer recovering from pandemic related claims. Mainly during the peak of the COVID-19 crisis. The company is Europe’s second-biggest insurer after Allianz. They said that it expected underlying earnings per share to grow at the high end of its […]
UniCredit shares open down 8% on Ukraine crisis
Shares in UniCredit, whose Russian arm is one of the largest lenders in the country, fell as much as 8%. This fall was just before triggering an automatic trading suspension, that was hit by the escalation of the Ukraine crisis. Russian forces fired missiles at several cities in Ukraine. They also had landed troops on […]
Britain mistakenly puts Russian central bank’s address
Britain mistakenly assigned the address of the Russian central bank to a privately held bank with close links to Russian President Vladimir Putin. This was the target of sanctions announced by Prime Minister Boris Johnson. Johnson slapped sanctions on five private banks. The government said that it was privately owned by elite Russian billionaires with direct links to Putin. The […]
HSBC sees risks of wider contagion to markets
The boss of HSBC, said that he was concerned about the risk of wider contagion for global markets from the deepening crisis in Ukraine. Noel Quinn told in an interview that while the direct exposure for HSBC was limited, he was alert to wider fallout. He also added that it is clear that there is […]