In this article ISP-IT BAMI-IT BMPS-IT G-IT Follow your favorite stocks CREATE FREE ACCOUNT A pedestrian pushes a baby stroller past a red Vespa scooter outside a Banca Monte Dei Paschi Di Siena SpA bank in Pescara, Italy. Marc Hill | Bloomberg | Getty Images A bidding war over Italy's Monte dei Paschi di Siena has erupted between rivals Intesa Sanpaolo and Banco BPM , with the two lenders vie for...
In this article ISP-IT BAMI-IT BMPS-IT G-IT Follow your favorite stocks CREATE FREE ACCOUNT A pedestrian pushes a baby stroller past a red Vespa scooter outside a Banca Monte Dei Paschi Di Siena SpA bank in Pescara, Italy. Marc Hill | Bloomberg | Getty Images A bidding war over Italy's Monte dei Paschi di Siena has erupted between rivals Intesa Sanpaolo and Banco BPM , with the two lenders vie for control of the world's oldest bank. Intesa on Monday announced an unsolicited offer of 30.6 billion euros ($35.3 billion), hoping to usurp its rival and create Europe's second-biggest bank by market capitalization. In a statement, its offer outlined a premium of 12.5% versus MPS's closing share price on Friday. Monte dei Paschi di Siena is valued at 27.4 billion euros. Intesa's advance comes as a direct counter to rival BPM Banco's announcement on Sunday that its board had unanimously approved a move to express interest to MPS in discussing a "merger of equals." The bank gave scant details on deal structure, saying only that it would give both groups equal weight in the combined entity. MPS, which was on the receiving end of a state bailout in 2017, was re-privatized in 2023. It has since emerged as a target for further consolidation in the Italian banking sector after buying Mediobanca last year, a deal that saw it become insurer Generali 's largest investor. France's Credit Agricole , BPM Banco's main shareholder, told CNBC on Monday that it was "interested in analyzing value creation opportunities which can strengthen BPM", in a show of support for the potential merger. Shares in Intesa and BPM Banco fell 4% and 1.1% respectively, while MPS shares rose 0.9% in early trade on Monday. Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.
Drops follow sharp sell-off of US tech stock last week while oil prices jump after Iran and Israel exchange strikes Business live – latest updates Global stock markets have fallen amid concern about the prospects for tech stocks while oil prices have risen as attacks in the Middle East stoked fears that a fragile truce in the region could break. Stock markets in Asia and Europe fell on Monday afte...
Drops follow sharp sell-off of US tech stock last week while oil prices jump after Iran and Israel exchange strikes Business live – latest updates Global stock markets have fallen amid concern about the prospects for tech stocks while oil prices have risen as attacks in the Middle East stoked fears that a fragile truce in the region could break. Stock markets in Asia and Europe fell on Monday after a sharp sell-off in US tech stocks late last week, as investors fretted over how companies at the forefront of the artificial intelligence boom would fund their “eye-watering” spending plans. Continue reading...
Marvell Technology ( MRVL ) shares jumped nearly +8% in premarket trading Monday, while Flex ( FLEX ) advanced +4%, after S&P Dow Jones Indices announced that both companies will join the S&P 500 ( SP500 ) later this month. The two companies are set to replace Pool Corporation ( POOL ) and The Campbell's Company ( CPB ) in the benchmark index. The additions come just days after Marvell drew renewe...
Marvell Technology ( MRVL ) shares jumped nearly +8% in premarket trading Monday, while Flex ( FLEX ) advanced +4%, after S&P Dow Jones Indices announced that both companies will join the S&P 500 ( SP500 ) later this month. The two companies are set to replace Pool Corporation ( POOL ) and The Campbell's Company ( CPB ) in the benchmark index. The additions come just days after Marvell drew renewed investor attention when Nvidia ( NVDA ) CEO Jensen Huang said the chipmaker could become the next semiconductor company to reach a $1T market capitalization, helping fuel a rally in the stock last week. MRVL has advanced +210% YTD. Flex ( FLEX ), meanwhile, has surged +151.4% YTD. All changes are scheduled to take effect before markets open on June 22. More on Marvell, Flex Investors Are Still Underestimating Marvell's AI Opportunity Marvell To A Trillion Dollars: Don't Fall For The Hype (Rating Downgrade) Marvell: Strong Buy, Nvidia's Trillion-Dollar Call Looks Realistic Marvell and Flex set to replace Pool and Campbell’s in S&P 500 Tech stocks drag down Nasdaq for the week; Intel, Qualcomm among losers
The Reserve Bank of India will likely tighten monetary policy in coming months, bringing it in line with regional peers that have turned more hawkish in response to inflationary pressures stemming from the Middle East conflict, economists said. The expectations follow Governor Sanjay Malhotra ‘s signal Friday that policymakers could raise interest rates if inflation pressures become more generaliz...
The Reserve Bank of India will likely tighten monetary policy in coming months, bringing it in line with regional peers that have turned more hawkish in response to inflationary pressures stemming from the Middle East conflict, economists said. The expectations follow Governor Sanjay Malhotra ‘s signal Friday that policymakers could raise interest rates if inflation pressures become more generalized and persistent. The central bank also lifted its inflation forecast for the fiscal year ending March 2027 to 5.1% from 4.6%, after leaving benchmark rate unchanged at 5.25%. The RBI’s commentary on inflation “opens the door for rate hikes in the next meeting” in August, according to Pranjul Bhandari , chief India economist at HSBC Holdings Plc. That would mark the RBI’s first rate hike since February 2023. Following Friday’s policy decision, Bhandari brought forward her forecast for tightening and now expects rate increases in August and October, instead of in the final three months of 2026 and the first quarter of 2027. “We believe inflation will eventually be even higher than the RBI is forecasting,” especially as the risk of a sub-par monsoon gathers pace, she added. Deutsche Bank AG and Goldman Sachs Group Inc. are also penciling in 50 basis points of rate hikes each in the final months of 2026, taking the RBI’s key rate to 5.75%. Lavanya Venkateswaran , senior economist at Oversea-Chinese Banking Corp. expects cumulative 50 basis points of increases in the current financial year-ending in April 2027, highlighting that “hikes are a matter of time.” Deutsche Bank’s Kaushik Das expects the RBI to first shift its policy stance to “withdrawal of accommodation” in August before delivering quarter-point hikes each in October and December. Das sees the repo rate eventually climbing to 6.25% by mid-2027, though he said an August hike cannot be ruled out if inflation data surprise sharply on the upside. Read more: India’s Economy Faces Threats That Currency Band-Aid Can’t Fix...
Moonshot AI, the developer of China’s popular Kimi chatbot, is seeking to raise between US$1 billion and US$2 billion in a new funding round that could value the company at as much as US$30 billion, according to a person familiar with the matter, as competition among the country’s leading artificial intelligence developers intensifies. The Beijing-based company was targeting a valuation roughly 50...
Moonshot AI, the developer of China’s popular Kimi chatbot, is seeking to raise between US$1 billion and US$2 billion in a new funding round that could value the company at as much as US$30 billion, according to a person familiar with the matter, as competition among the country’s leading artificial intelligence developers intensifies. The Beijing-based company was targeting a valuation roughly 50 per cent higher than the US$20 billion it achieved in its previous financing round, completed in...
“When we graduate, what can we do?” As a philosophy professor, questions like this – about employability – often crop up in my conversations with students. Indeed, with youth unemployment on the Chinese mainland standing at almost 17 per cent, and intense competition among those seeking employment, it is no wonder that the priority for many – even students graduating from elite universities – is a...
“When we graduate, what can we do?” As a philosophy professor, questions like this – about employability – often crop up in my conversations with students. Indeed, with youth unemployment on the Chinese mainland standing at almost 17 per cent, and intense competition among those seeking employment, it is no wonder that the priority for many – even students graduating from elite universities – is actually securing a job. The proliferation of artificial intelligence (AI) has only compounded such...