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Revolut Rises to $115 Billion Valuation, Challenging Europe’s Banking Giants

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Revolut has emerged as Europe’s most valuable startup, reaching a private valuation of $115 billion and increasingly challenging established banking giants. Founded just over a decade ago as a fintech focused on cheaper foreign exchange, the London-based company has expanded rapidly, with 80 million customers globally and new banking licences helping drive its

Commerzbank to Cut 3,000 Jobs as It Resists UniCredit Takeover Push

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Commerzbank announced plans to cut 3,000 jobs and raise its long-term profit targets as it fights to remain independent amid a takeover attempt by Italy’s UniCredit. The German bank said the restructuring would strengthen revenue and profitability by 2028, while criticizing UniCredit’s €37 billion takeover proposal as unclear and risky. Commerzbank also expects around €450

Banks race to access Anthropic’s Mythos amid cyber risk concerns

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The launch of Anthropic’s advanced AI model Mythos has triggered a rush among global banks to secure access, while regulators intensify scrutiny over potential cybersecurity risks. Officials at the International Monetary Fund meetings recently flagged concerns that the model’s capabilities could challenge banks’ legacy systems and expose vulnerabilities. Major financial

Deutsche Bank Offices Raided in Germany Over Money Laundering Probe

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German authorities have raided Deutsche Bank’s offices in Frankfurt and Berlin as part of an investigation into suspected money laundering, prosecutors said. The Office of the Federal Prosecutor said it is probing “unknown individuals and employees” at Germany’s largest lender, alongside the Federal Criminal Police Office, over past business relationships with foreign

Credit Suisse shares plunge as bank fear widens

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As investors continue to be on edge following the failure of Silicon Valley Bank, shares of the ailing Swiss banking giant Credit Suisse have fallen to a historic low. When Credit Suisse acknowledged “significant weakness” in its accounting procedures on Tuesday, its stock fell by as much as 30% at one point. Investors are concerned about […]