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Daniel Roland - 1 UniCredit - 1 Commerzbank - 1 CNBC's Annette Weisbach - 1 Bettina Orlopp - 1 Orlopp - 1 Chancellor Olaf Scholz - 1 waylay - 1
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☆ UniCredit and Commerzbank square off with target hikes amid takeover battle
  + stars: | 2024-11-06 | by ( Ruxandra Iordache | ) www.cnbc.com   time to read: +3 min
The logo of German bank Commerzbank seen on a branch office near the Commerzbank Tower in Frankfurt. Daniel Roland | Afp | Getty ImagesTwo months since UniCredit played its opening move to woo German lender Commerzbank , the lenders flaunted their financial strength as one of Europe's largest banking mergers still hangs in balance. Both banks reported third-quarter results on Wednesday, with UniCredit posting an 8% year-on-year hike in net profit to 2.5 billion euros ($2.25 billion), compared with a Reuters-reported 2.27-billion euro forecast. It raised its full-year net profit guidance to above 9 billion euros, from a previous outlook of 8.5 billion euros. When the Italian lender showed its hand by using derivatives to build a potential 21% stake in Commerzbank, the German lender appointed a new CEO and sharpened its financial targets.
Persons: Daniel Roland, UniCredit, Commerzbank, CNBC's Annette Weisbach, Bettina Orlopp, Orlopp, Chancellor Olaf Scholz, waylay, Let's, hadn't, Andrea Orcel, CNBC's Charlotte Reed Organizations: Afp, Getty, Reuters, CNBC, Wednesday, German Ministry of Finance Locations: Frankfurt, Europe, Commerzbank, Berlin
☆ Inflation momentum has gone in Europe and ECB will probably pivot in the summer, economist says
  + stars: | 2023-03-31 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailInflation momentum has gone in Europe and ECB will probably pivot in the summer, economist saysHeiner Flassbeck, economist and former state secretary in the German Ministry of Finance, says inflation dynamics are fading "very quickly" and the European Central Bank will need to pivot on rate hikes in the summer to avoid harming the real economy.
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