The bank booked €1.26bn euros ($1.37bn) in provisions for bad loans, up from €467m a year earlier

UniCredit SpA said on 6 May that it will tweak its strategic plan after it swung to a loss in the first quarter as bad-loan provisions soared and expenses related to the implementation of its cost-saving plan hit performance.

The Italian bank booked €1.26bn euros ($1.37bn) in provisions for bad loans, up from €467m a year earlier.

UniCredit swings to Q1 loss as bad-loan provisions soar

Pietro Lombardi 

UniCredit

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BlackRock creates active stewardship team to assist with private markets push

Former Goldman Sachs executive Amar Kuchinad joins crypto firm Copper as CEO 

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Former Goldman Sachs MD Amar Kuchinad joins crypto firm Copper as CEO

Dmitry Tokarev has stepped back from his role as chief executive after seven years

Kirkland loses regulatory partner to Paul Weiss 

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Kirkland has been raided by Paul Weiss since it kicked off its English law offering last summer

BNP Paribas dealmaker McNaught departs in UK advisory shake-up

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The French bank has added a further two managing directors amid reshuffle in UK deals team

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Inflation in the U.K. fell below the Bank of England’s 2% target in September for the first time in more than three years, making an interest-rate cut next month more likely.

U.K. Inflation Falls to Below BOE Target, Setting Up Rate Cut

The regulator said it is concerned that the part of the market that allows people to pay for insurance in installments might not be providing fair value to more than 20 million customers.

U.K. Regulator Starts Review Into Motor and Home Insurance Market

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Chinese stocks have gone from ice-cold to red-hot in a matter of weeks, but it might be driven by momentum rather than enough stimulus to solve China’s economic woes.

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