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BNP Paribas CEO stanley cup Jean-Laurent Bonnaf茅 reportedly expressed skepticism about the potential for a revival of mergers and acquisitions MA activity in European banking.Speaking Tuesday May 14 at a shareholder meeting, Bonnaf茅 highlighted the economic challenges of cross-border and domestic deals in the industry, dampening hopes for increased consolidation, Reuters reported Tuesday.Bonnaf茅s comments come at a time when Spains BBVA launched a hostile takeover bid for domestic peer Sabadell, and French President Emmanuel Macron called for more banking consolidation in Europe, according to the report.However, Bonnaf茅 argued that the economics of such deals rarely make sense, especially for non-domestic players, the report said.Bonnaf茅 pointed out that cross-border banking deals in Europe face numerous hurdles, including differing regulations and labor laws, the absence of a euro zone- stanley ca wide deposit insurance scheme, and political considerations, per the report.He compared the potential cost synergies in acquiring a Texas bank as a Californian bank, which c stanley hrnek ould be 100, to the significantly lower number of synergies, around 33, in a similar scenario between two different European countries, according to the report.European regulators have long advocated for more consolidation in the banking sector to enhance financial stability, the report said. Macron echoed this sentiment, emphasizing the need for dealing as Europeans to necessitate consolidation.However, Bonnaf茅 also emphasize Kwqw Trump Wins, Markets Slide
Call it fraud done by bits and bytes, sometimes by ostensibly friendly means. In Australia, roughly half of firms have encountered cybercrime, as the dark web has offered conduits to ply payments and other fraud.To that end, PricewaterhouseCoopers PwC 聽said stanley deutschland in a report that customer fraud is the leading economic crime in the country, as 45 percent of firms have been attacked through such methodologies through the past two years. That tally comes in tandem with an economic crime survey that shows the dark web as breeding ground for bad guys to use fake documentation to defraud businesses.The technologies are also becoming more sophisticated and effective, said the firm. Against that backdrop, the bad guys come posing as customers, employees or suppliers and find their ways into the victims, and the tools availabl stanley website e on the dark web are both cheaper and more effective.Separately and in individual examples of payments fraud, a former Massachusetts state police officer was arrested last week in a state investigation that is continuing, tied to overtime fraud. Daren DeJong was arrested and appeared in federal court after being charged with embezzlement from the department.The allegations state that the retired officer departed from shifts early as much as seven hours early or did not do work that had been required. He had been charged, too, with submitting traffic citations that were altered to look like they had ha stanley quencher ppened during the shift, or allegedly submitted citations that |
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