In a surprising announcement on Friday, Commerzbank unveiled its quarterly earnings, showcasing what it described as “record” annual profits for 2024, alongside a new share buyback initiative. The bank reported a net profit surge of 20%, totaling approximately 2.68 billion euros (equivalent to $2.78 billion), significantly outperforming the market’s consensus expectation of $2.47 billion for
Finance
OpenAI is reportedly negotiating a funding round that could potentially secure up to $40 billion, a move that would catapult its valuation to an impressive $340 billion. This anticipated investment reflects the intensifying interest and competition surrounding artificial intelligence, particularly as emerging technologies gain prominence. According to sources familiar with the discussions, Masayoshi Son’s SoftBank
The Trump Media and Technology Group (TMTG), already well-known for its Truth Social platform, is now making bold strides into the financial sector, suggesting a broader ambition beyond social media. The firm’s announcement on Wednesday about its new division, Truth.Fi, which aims to offer investment vehicles, marks a significant pivot that could reshape its identity
In a significant development within the Italian banking landscape, Mediobanca’s shareholders have decisively turned down a takeover proposal from Monte dei Paschi di Siena (MPS), Italy’s oldest bank. This event marks both a resistance to consolidation efforts in the banking sector and a pivotal moment for the participating institutions and their stakeholders. The rejection sheds
In an unexpected twist in the world of artificial intelligence, DeepSeek, a fledgling startup from China, has created ripples that have reverberated through the stock market and shaken the foundation of established tech giants in the United States. Founded just six months ago by Liang Wenfeng, who leveraged funds from his AI-driven hedge fund, DeepSeek
As the World Economic Forum (WEF) convenes in Davos, Switzerland, diversity, equity, and inclusion (DEI) are the hot topics of discussion—with corporate leaders and politicians alike weighing in on their implications. The persistent focus on these buzzwords has emerged not just as a cultural imperative, but a strategic business tool that could impact everything from
In a bold and ambitious maneuver, Italy’s longstanding financial institution, Monte dei Paschi di Siena (MPS), has launched a significant all-share takeover bid for its larger rival, Mediobanca. The proposal, valued at approximately €13.3 billion (or about $13.95 billion), has sent ripples across the Italian banking landscape, with MPS offering 23 of its shares in
In a bold move to cater to risk-averse investors, Calamos Investments has debuted the Calamos Bitcoin Structured Alt Protection ETF (CBOJ). Launched recently, this ETF is being promoted as “the world’s first downside protected bitcoin ETF,” indicating a significant shift in how traditional finance intersects with cryptocurrency investment strategies. This offering is particularly timely, coinciding
In a recent address at the World Economic Forum in Davos, former President Donald Trump reignited a long-standing controversy over banking services, accusing major American banks of turning away conservative clients. These statements, made during a video segment, reignite a narrative Trump has pushed in campaigns and interviews since his presidency. Such claims, however, are
In the complex landscape of global trade, the implications of tariffs have long been a contentious subject. Recently, Jamie Dimon, the CEO of JPMorgan Chase, provided insights into how impending tariffs, particularly those threatened by former President Donald Trump, could potentially shift the economic dynamics favorable to the United States. His assertions, shared during an