UniCredit S.p.A. (UCG.WA)
- Reuters
Russian court orders Italy's UniCredit to pay $480 million over aborted gas project
A Russian court has ordered Italian bank UniCredit to pay 448.2 million euros ($479.44 million) in a lawsuit over an aborted gas project brought by St Petersburg-based RusChemAlliance, a joint venture 50% owned by Russian gas giant Gazprom. UniCredit was one of the guarantor lenders under a contract for the construction of a gas processing plant in Russia with Germany's Linde, which was terminated due to Western sanctions against Moscow over the conflict in Ukraine. "The claim is satisfied in full," the St Petersburg Arbitration Court said in a filing.
- Reuters
UniCredit CEO says digital euro "very good" plan if banks fully involved
Plans for a digital euro will be a "very good" thing for the currency bloc and its lenders if banks remain central to the flow of money as they are at present, UniCredit Chief Executive Andrea Orcel said on Tuesday. "It's a matter of sovereignty for Europe: we cannot not have a digital euro," Orcel told a conference organised by Italian bank Mediobanca. The European Central Bank is looking to launch a digital currency that could reduce the euro zone's reliance on legacy electronic payment systems operated by U.S. companies, such as Visa or Mastercard, and counter the emergence of non-European online payments providers such as Paypal.
- Bloomberg
UniCredit Plans Risk Transfers Tied to €8.5 Billion of Loans
(Bloomberg) -- UniCredit SpA is working on three significant risk transfer deals linked to as much as €8.5 billion ($9 billion) of loans to Italian and German companies, according to people familiar with the matter.Most Read from BloombergWhat to Know About the Deadly Flesh-Eating Bacteria Spreading in JapanStocks Struggle to Make Headway on Economic Signs: Markets WrapCiti Pitches Money-Moving ‘Crown Jewel’ as Central to RevampFlesh-Eating Bacteria That Can Kill in Two Days Spreads in JapanThes
