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European Banks Beat Profit Forecasts, but Brazil Weighs on Santander

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European banks including Deutsche Bank, BNP Paribas, Standard Chartered and Santander reported stronger-than-expected third-quarter profits, easing investor concerns about slowing earnings growth. UBS also reported results broadly in line with market expectations and accelerated its share buyback programme. The results come as European banking stocks face pressure from

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