A Nordic-centred deal worth €2.3bn to generate onshore wind power in Finland has been struck. Danish firm Copenhagen Infrastructure Partners and Finnish company Myrsky Energia have signed a cooperation agreement to build 1,800 MW of wind power in the next decade, according to multiple reports from the region. The construction, it is understood, will take…
Investor interest in ETFs remains strong despite a slide in net inflows of roughly a third between 2021 and 2022, according to a report from Trackinsight, conducted in association with JP Morgan and State Street. The Global ETF Survey 2023 found more than half (56%) of respondents saying they would increase their exposure to equity-related…
Europe will need to invest more than $32tn (€29.6trn) in energy and related technology if it wants to achieve a net-zero economy by 2050, according to forecasts by BloombergNEF. As reported by MERCOM India, the average yearly investment into clean energy supply, electric vehicles, heat pumps and sustainable materials has to treble in the 2020s…
Total fundraising on the continent in 2022 was the highest ever recorded and 30% over 2021 levels, according to a report released by Invest Europe. Investing in Europe: Private Equity Activity 2022 states that the number of funds raising capital over the year – 801 – was the second-highest number ever recorded and 13% over…
The European Investment Fund (EIF) and UniCredit have signed a deal that looks to channel €1bn to 2,500 small-to-medium enterprises across central and eastern Europe. Announced yesterday, the deal will see the EIF provide two guarantees worth around €370m to UniCredit Group to finance approximately €1bn of investment made by small businesses in Bulgaria, Croatia,…
Bank of America has signalled its intentions for a push into the European funds market by setting up a new branch in Luxembourg. It was reported on Reuters earlier this week the group was hiring Benoit Nevouet to be the new branch’s manager, poaching him from BNP Paribas. Bank of America said in the Reuters…
The EC and the EIB are to supply €18bn of financing under Global Gateway, Europe’s investment strategy for partner countries. A statement from the two organisations, released alongside the Global CITIZEN Now Summit in New York, said the investment would be concentrated on climate action, clean energy and connectivity in the continent’s partner countries around…
Inflation on the continent may be starting to slow after months above 10%, according to the latest figures. Inflation in the European area fell to 7% in April, down from 10.1% in November. Quoting statistics from Eurostat, however, French newspaper Le Monde warned that food prices – the sentiment barometer of most consumers – remain…
UniCredit has released its results for the first three months of 2023, noting its net operating profit in Germany jumped nearly 80% between quarters. The Italian banking giant revealed earlier this week its net operating profit within Europe’s largest economy jumped from €481m in Q4 2022 to €864m in Q1 2023, an increase of 79.8%.…
The number of sustainable fund launches fell sharply in the first three months of 2023, Morningstar data has revealed. According to the firm’s latest quarterly report, there were 113 new sustainable funds launched in the quarter around the world – the lowest number since the start of 2020. Previously, Reuters wrote, new launches had exceeded…
The lawsuits over UBS’s ‘shotgun wedding’ rescue of Credit Suisse are growing in number. US law firm Quinn Emanuel Urquhart & Sullivan has already been instructed by key holders of Credit Suisse’s ‘additional tier one’ (AT1) capital instruments to represent them in discussions with the Swiss authorities and in any possible litigation. Now, however, it…
The national bank of Sweden has said it will raise its policy rate to 3.5%, with further increases expected. In a statement, Sveriges Riksbank said the rise would become effective from 3 May after the executive board gave assent to the increase of 0.5 percentage points. It added the rate would be raised by another…
