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'P.R. job' or antidote to 'groupthink'? Bank of Canada to offer policy-meeting minutes

'P.R. job' or antidote to 'groupthink'? Bank of Canada to offer policy-meeting minutes By Steve Scherer OTTAWA, Jan 22 (Reuters) - The Bank of Canada will offer minutes from its policy-setting meeting this week for the first time in its history, a move some analysts say will help restore credibility lost last year amid soaring inflation and encourage out-of-the-box thinking.
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Fed hangs tough as wage growth gets real again: Mike Dolan

COLUMN-Fed hangs tough as wage growth gets real again: Mike Dolan By Mike Dolan LONDON, Jan 20 (Reuters) - If markets are wondering why the Federal Reserve just won't play ball with their 'peak interest rate' pricing, the answer probably lies in the resumption of U.S. real wage growth. Investors were unnerved this week by Fed policymakers insisting the central bank would push on with plans to raise rates above 5% this year despite mounting evidence that disinflation has taken hold and the econom
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AXA reduces aviation war cover after Ukraine losses, sources say

AXA reduces aviation war cover after Ukraine losses, sources say By Noor Zainab Hussain, Jonathan Saul and Carolyn Cohn LONDON, Jan 19 (Reuters) - The commercial arm of French insurer AXA AXAF.PA is reducing cover offered to aviation companies as it seeks to protect the multibillion-euro business after heavy Ukraine-related losses, two underwriting and broking sources told Reuters.
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Credit Agricole tightens BPM ties via bancassurance deal

* Banco BPM agrees insurance deal with Credit Agricole * Move reinforces link with top Banco BPM investor * Banco BPM could be pivotal in banking consolidation By Andrea Mandala, Sudip Kar-Gupta and Pablo Mayo Cerqueiro ROME/PARIS, Dec 23 (Reuters) - Credit Agricole CAGR.PA on Friday struck a long-term bancassurance partnership with Italy's Banco BPM BAMI.MI , strengthening ties with the country's number three lender, in which it is already the top investor.
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Activists aggravate art insurers' climate headache

* Concern other groups could join in attacks * Some insurers only cover works behind glass * Inflation will also drive premiums higher * Flood and fire damage risk add further pressure By Carolyn Cohn, Noor Zainab Hussain and Barbara Lewis LONDON, Nov 25 (Reuters) - Climate activists' attacks on some of the world's most precious paintings have added to insurers' worries about the threat to art from climate change itself, concerns seen as leading to higher art insurance premiums.
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Activists aggravate art insurers' climate headache

* Concern other groups could join in attacks * Some insurers only cover works behind glass * Inflation will also drive premiums higher * Flood and fire damage risk add further pressure By Carolyn Cohn, Noor Zainab Hussain and Barbara Lewis LONDON, Nov 25 (Reuters) - Climate activists' attacks on some of the world's most precious paintings have added to insurers' worries about the threat to art from climate change itself, concerns seen as leading to higher art insurance premiums.
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Italy's Monte dei Paschi says cash call 96.3% covered

* Underwriters left with 93 mln euros in unsold stock * Concerns about unsold shares risked derailing capital raise By Valentina Za MILAN, Nov 3 (Reuters) - Monte dei Paschi di Siena BMPS.MI on Thursday said investors had taken up 96.3% of its 2.5 billion euro ($2.4 billion) new share issue, leaving less than 100 million euros on the books of the banks that agreed to back the risky sale.
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Insurer Athora raises $2 bln from investors

LONDON, Nov 2 (Reuters) - Athora has raised two billion euros ($1.98 billion) in equity commitments from new and existing shareholders, the specialist European life insurer said on Wednesday. The capital raise includes commitments of 600 million euros received in December 2021 from founding shareholders Apollo Global Management and Athene Holding, Athora said in a statement.
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Monte dei Paschi's cash call 93% covered so far despite low shareholder take-up

* Cash call 74% covered by shareholders, state accounts for 64% * Sub-underwriters to put in 475 mln euros * Overall take-up seen rising above current 93% By Valentina Za MILAN, Oct 31 (Reuters) - Italy's Monte dei Paschi di Siena BMPS.MI said its up to 2.5 billion euro ($2.5 billion) capital increase had been 93% covered so far thanks to accords with investors that offset in part a low take-up by the bank's shareholders.
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Monte Paschi underwriters seen left with less than $100 mln of stock-sources

* Subscription period ends Monday * Sub-underwriting accords total more than 500 mln euros * Underwriters to pick up less than 100 mln euros in unsold stock By Valentina Za MILAN, Oct 28 (Reuters) - Unsold shares left with underwriters in Monte dei Paschi di Siena's BMPS.MI (MPS) capital increase are expected to total less than 100 million euros ($100 million), two people close to the transaction said.
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Italy's MPS to launch share sale after banks give blessing

* Share sale to be launched on Monday * MPS clinched final bank support early Thursday * France's AXA top contributor with up to 200 mln euros * Funds needed in part to pay for early retirement scheme (Updates AXA's contribution in paragraph 11) By Valentina Za and Giuseppe Fonte MILAN, Oct 13 (Reuters) - Italy's Monte dei Paschi di Siena (MPS) BMPS.MI will brave rocky markets next week as it seeks to raise up to 2.5 billion euros ($2.4 billion) in a share sale, after managing on Thursday to cli
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Monte dei Paschi's talks with banks over $2.4 bln cash call drag on - sources

* MPS working to sign contract with banks over share issue * Signing delayed, may take until Thursday - source * Bank needs funds to lay off staff, replenish capital * MPS has struggled to secure banking support By Valentina Za, Giuseppe Fonte and Pamela Barbaglia MILAN, Oct 11 (Reuters) - Monte dei Paschi di Siena's talks with banks set to guarantee its latest share sale will stretch into Wednesday as the underwriters seek reassurances about how much stock they could be left holding, four peopl
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Monte dei Paschi's talks with banks over $2.4 bln cash call drag on - sources

* MPS working to sign contract with banks over share issue * Signing delayed, may take until Thursday - source * Bank needs funds to lay off staff, replenish capital * MPS has struggled to secure banking support (Recasts with latest comments from sources) By Valentina Za, Giuseppe Fonte and Pamela Barbaglia MILAN, Oct 11 (Reuters) - Monte dei Paschi di Siena's talks with banks set to guarantee its latest share sale will stretch into Wednesday as the underwriters seek reassurances about how much
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Monte dei Paschi, banks put final touches to contract - sources

By Valentina Za and Giuseppe Fonte MILAN, Oct 11 (Reuters) - Monte dei Paschi di Siena BMPS.MI is finalising work to agree a guarantee contract for its new share issue with a group of banks in time for a board meeting later on Tuesday, two people with knowledge of the matter said. The board of state-owned MPS is due to meet in the afternoon to set the terms of a new share sale to raise up to 2.5 billion euros ($2.4 billion), its seventh share issue in 14 years.
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Monte dei Paschi, Treasury confident on banks' support for share sale - sources

* Working to secure banks' underwriting commitment * Contract needed in time for Tuesday's board meeting * Uncertainty hits junior debt amid conversion fears * By Valentina Za, Giuseppe Fonte and Pamela Barbaglia MILAN, Oct 10 (Reuters) - Monte dei Paschi di Siena BMPS.MI and Italy's Treasury are confident the state-owned bank will be able to secure underwriters for an up to 2.5 billion euro ($2.4 billion) new share sale, two people close to the matter said.
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Monte dei Paschi in last ditch push to see through capital raise

By Valentina Za and Giuseppe Fonte MILAN, Oct 8 (Reuters) - Monte dei Paschi di Siena's (MPS) capital raising plan is entering a make-or-break stage with CEO Luigi Lovaglio and the banks due to guarantee the sale hammering out final details, people close to the matter said. MPS, which is 64% owned by the state after a 2017 bailout, is looking to raise up to 2.5 billion euros ($2.5 billion) by issuing new shares.
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Monte dei Paschi in last ditch push to see through capital raise

By Valentina Za and Giuseppe Fonte MILAN, Oct 7 (Reuters) - Monte dei Paschi di Siena's (MPS) plan to proceed with a capital raise is entering a decisive stage with CEO Luigi Lovaglio and the banks due to guarantee the sale still hammering out final details, people close to the matter said. MPS BMPS.MI aims to launch the new share issue for up to 2.5 billion euro ($2.5 billion) on Oct.
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Italy's MPS commits to disposals as it works to secure investors

* EU publishes decision over new deadline, turnaround goals * MPS says plan progressing on schedule * Aims to clinch deal with cash call investors this week-sources By Valentina Za and Giuseppe Fonte MILAN, Oct 3 (Reuters) - New restructuring commitments agreed by Italy and the European Union over state-owned bank Monte dei Paschi di Siena (MPS) BMPS.MI include disposals worth up to 400 million euros ($391 million), a document showed on Monday.
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Monte dei Paschi investors back latest cash call

By Silvia Ognibene and Valentina Za SIENA, Italy, Sept 15 (Reuters) - Shareholders in Monte dei Paschi di Siena (MPS) BMPS.MI on Thursday approved the sale of new shares for up to 2.5 billion euros ($2.5 billion), while doubts linger on whether the state-owned bank can pull off its latest cash call. Five years after a bailout that handed the state a 64% stake, MPS needs more money to cut costs by shedding thousands of staff through costly early retirements, and to replenish its capital buffers.
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Return of coal a threat to European companies' ESG ratings

By Carolyn Cohn and Christoph Steitz LONDON/FRANKFURT, July 26 (Reuters) - European companies turning to coal as an alternative to Russian gas face a hit to their environmental, social and governance ratings, leaving them scrambling to impress investors still vocal on sustainability. Despite an energy crisis following sanctions on Russia, major European investors say they will not relax their investment principles of reaching net zero targets on greenhouse gas emissions by 2050 or earlier.
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