Banks

Banks

Italy rules out state aid or nationalisation of Monte Paschi – minister

ROME, Oct 12 (Reuters) – Italian Economy Minister Pier Carlo Padoan on Wednesday ruled out any state intervention or a so-called “bail-in” to support the troubled lender Banca Monte dei Paschi di Siena. “No measures of public support or nationalisation are foreseen (for Monte ...Read More

Wells Fargo faces costly overhaul of bankrupt sales culture

(Reuters) – Embroiled in a scandal over unauthorized customer accounts, Wells Fargo & Co (WFC.N) faces a steep challenge in overhauling its hard-charging sales culture without gutting profits. Until recently, Wells staffers labored under ambitious quotas while executives boasted to Wall Street about “cross-selling” ...Read More

Deutsche Bank forced into rethink as strategy overhaul stutters: sources

FRANKFURT (Reuters) – Threatened with a multi-billion-dollar fine from U.S. regulators, Deutsche Bank’s management is rethinking elements of its year-old strategic overhaul that has made faltering progress, people familiar with the matter said. The organizational change, launched in October last year by the then ...Read More
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