BNP Paribas cuts profitability outlook due to low interest rates “BNP Paribas’ earnings are a mixed bag as they benefited from renewed activity from the fixed income, commodities, currencies and corporate and investment banking, thanks to the rebound in markets in 2019 but its costs are still too high and negative interest rates across its [...]
EDF warns Flamanville weld repairs to cost 1.5 billion euros Dominique Vidalon, Geert De Clercq “It’s a disaster. EDF tried to compete and become a leader in the sector but it’s just one delay after another with them,” said Ion-Marc Valahu, fund manager at Geneva-based investment firm Clairinvest, which does not own EDF shares. PARIS [...]
French energy group Total lifts dividend outlook By Sudip Kar-Gupta Ion-Marc Valahu said Total's update was a positive one for investors. "Most oil majors have not raised their capital expenditures in recent years but are still generating lots of cash, and the stock prices of most oil companies have been lagging behind the moves in [...]
Rallye Extends Gains on Casino Buyout Speculation, Short Squeeze Rallye shares have been climbing for a mix of reasons, including speculation Casino will be bought out, says Ion-Marc Valahu, co-founder of Geneva-based Clairinvest By Albertina Torsoli (Bloomberg) -- Shares in Rallye jumped for a third session amid a short squeeze and persisting speculation that Casino, [...]
Credit Agricole and Santander to combine custody and asset servicing arms “I welcome any consolidation in the European banking sector,” said Clairinvest fund manager Ion-Marc Valahu, who owns a position in the European banking index. “We use Caceis for our funds and it makes sense for CA to take over the custody and asset-servicing operations [...]
French bank SocGen to cut 1,600 jobs in drive to lift profits “SocGen does not have a choice: increased regulation, high capital requirements and very intensive capital demand to run trading businesses make it a business not profitable,” said Clairinvest fund manager Ion-Marc Valahu. PARIS (Reuters) - Societe Generale plans to cut 1,600 jobs, mainly [...]
