Finance


    • EU funds Finnish companies

      EU funds Finnish companies

      The European Investment Bank (EIB) has concluded an agreement with Tesi, a state-owned investment company, to provide innovative small and medium-sized enterprises in Finland with access to €100 million worth of loans. Furthermore, the funding is structured to be complemented by private sector co-investments with another €100m, totalling €200m of new investments to the benefit of SMEs and mid-caps. Tesi is EIB’s first partner in the Nordics that channels EFSI-guaranteed financing to companies as direct capital investments.

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    • Stocks dive, euro falls, as Turkey turmoil ripples out

      Stocks dive, euro falls, as Turkey turmoil ripples out

      A plummeting Turkish lira sent ripples through global equities and emerging markets on Friday, as rising fears of a wider fallout sent investors scurrying for the safety of assets such as the yen and US government bonds. The lira fell as much as 12% against the dollar earlier in the day, its worst day since Turkey’s financial crisis of 2001, on the back of a deepening rift with the United States, worries about its own economy and lack of action from policymakers.

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    • HSBC shifts European branches to French unit control

      HSBC shifts European branches to French unit control

      HSBC has shifted ownership of its Polish and Irish subsidiaries from its London-based entity to its French unit, and will do so for seven more European branches, as it prepares for Britain’s exit from the EU. HSBC France will also acquire the activities of seven European branches in Belgium, the Czech Republic, Ireland, Italy, Luxembourg, the Netherlands and Spain, Europe’s biggest bank said on Wednesday.

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    • Turkish markets suffer after Washington imposes sanctions

      Turkish markets suffer after Washington imposes sanctions

      Turkey’s lira tumbled to a record low beyond 5 to the dollar on Thursday, after Washington imposed sanctions on two of President Tayyip Erdogan’s ministers over the trial of a US pastor accused of backing terrorism. The sell-off, which also hammered local stocks and Turkey’s debt risk profile, reflected deepening investor concern over tensions with the United States, a NATO ally and major trading partner.

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    • France considers scrapping one and two centime coins

      France considers scrapping one and two centime coins

      France could soon abolish its one and two centime coins in a first step towards creating a zero-cash economy. A government think tank, the Comite d'Action Publique 2022, has published a report recommending the abolishment of the two smallest coin denominations in the near future.

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    • ESMA slaps fines on five banks

      ESMA slaps fines on five banks

      The European Securities and Markets Authority (ESMA) has fined Danske Bank, Nordea Bank, SEB, Svenska Handelsbanken and Swedbank €495,000 each for negligently breaching the Credit Rating Agencies Regulation (CRAR), the EU press service reported. ESMA found that the five banks infringed the CRAR by issuing credit ratings without being authorised by ESMA.

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