UniCredit Shares Slide 5% as Italy’s Banks Fail Stress Tests
Italy-based international bank UniCredit saw its shares suspended Monday and 5% losses in overall value as tests showed the country’s banks are still unable to weather financial crises. Unicredit, Banks ‘Plaguing’ Government. In gloom reminiscent of pre-crisis 2008, stress tests conducted by the regulator showed UniCredit, along with other Italian....
Related News
Italy’s banking system is on the verge of a meltdown with the oldest bank in the world falling short of 3 billion euros. Monte Dei Paschi, Italy’s third largest bank is in eye of the storm, as its shares fell by 12% on Wednesday ahead of a deadline for recapitalisation. Italy’s banking system is on the verge of a meltdown with the oldest bank in the world falling short of 3 billion euros. Other big names, like UniCredit, are in equally bad shape. It was uncovered by Wells Fargo that nearly 15% of all loans held by Italian banks could be at risk of default. Though the Italian parliament has....
New weekly trading volume charts on LocalBitcoins show Mexico has a great appetite for cryptocurrency. The Mexican banking sector is going into some contingency mode right now. If Donald Trump were to win the presidential elections, the banking system in the country would come under a lot of pressure. Financial regulators have ordered all institutions to conduct stress tests modeled after a Trump victory. At the same time, Bitcoin adoption in the country continues its upward trend. Ever since Donald Trump mentioned his plan to block remittances from the US to Mexico if he became president,....
The European Banking Authority (EBA) published today the results of the 2014 European Union (EU)-wide stress test of 123 banks. The health check was carried out on 123 European banks by the EBA to determine whether they could withstand another financial crisis. The results: over the three-year horizon of the exercise, 24 banks would fail the stress test - in other words, they could not withstand another financial crisis. 14 of these banks are in the Eurozone. The list of 14 includes four Italian banks, two Greek banks, two Belgian banks and two Slovenian banks. Nine Italian banks have....
The bitcoin stress tests planned by CoinWallet could breach UK law, a legal professional has suggested. The claim was first posted on Reddit yesterday, with user 'btcdrak' asserting: "The Computer Misuse Act 1990 in the United Kingdom makes it an offence to deliberately cause disruption to computer systems with intent." Eitan Jankelewitz, associate at UK law firm Sheridans, said he would tend to agree with this assessment. The aim of these stress tests is to verify whether the bitcoin network is capable of handling a large stream of very small transactions. CoinWallet's first test in June....
In a nod to the ever-expanding Fintech bandwagon, Italy’s UniCredit is the latest bank to join in, by pledging a €200 million fund that will aid mid-stage startups and established Fintech businesses. The fund is being set up in partnership with London-based venture and advisory firm Anthemis Group. A new joint investment venture and partnership between prominent European bank UniCredit and Fintech venture and advisory firm Anthemis Group sees the setting up of a new fund. Dubbed UniCredit EVO, the fund will seek to back mid-stage startups and follow-on investments in more mature and....