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VIENNA/FRANKFURT, Nov 29 (Reuters) - Property and retail giant Signa declared insolvency on Wednesday after last-ditch attempts to secure fresh funding failed, making it the biggest casualty so far of Europe's property crash.Controlled by Austrian magnate Rene Benko, the group is an owner of New York's Chrysler Building as well as several high-profile projects and department stores across Germany, Austria and Switzerland.The multi-billion-euro group, whose tentacles reach from Germany's best-known department store, Berlin's KaDeWe, to the country's top high-street chain Galeria and a skyscraper project, is set to send ripples...

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, September 28, 2023. REUTERS/Staff/File Photo Acquire Licensing RightsLONDON, Nov 28 (Reuters) - The EU is falling behind Britain in tapping into savers' money to boost the stock market, despite reforms in continental Europe being a step in the right direction, an official with Germany's bourse told Reuters."In terms of policy change, in the UK there's a realisation that we need to incentivise more capital; we're not there yet in Germany," said Stefan Maassen, head...

Nov 27 (Reuters) - Earlier this fall, Morgan Stanley (MS.N) bought $300 million worth of protection against losses on some of its loans from Blackstone Group (BX.N) and other investors, two sources familiar with the matter said.The transaction, details of which have not been previously reported, was effectively insurance, structured as a sale of bonds called credit-linked notes, according to the sources and regulatory filings.By transferring the risk to investors, the $1.4 trillion asset bank could reduce the amount of capital it has to hold against those loans to cover...

A sign for the Bank of Montreal in Toronto, Ontario, Canada December 13, 2021. REUTERS/Carlos Osorio/File Photo Acquire Licensing RightsTORONTO, Nov 27 (Reuters) - Canada's big banks are likely to wrap up a challenging financial year with another quarter of declining profits and rising bad debt provisions amid a slowing economy.The big six banks have axed thousands of jobs this year as investment banking fees lagged and business south of the border weakened due to the U.S. regional banking crisis.While high interest rates have boosted the banks' lending margins, residential...

Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - Goldman Sachs (GS.N) expects the U.S. Treasuries curve to steepen in the long term, driven by rising fiscal spending, top executives said."Fiscal spending has not abated. It's strange for us to be spending this much" when employment is high, Ashok Varadhan, Goldman's co-head of global banking and markets, said on a company podcast."It doesn't feel like we're going...

Zhao Changpeng, founder and chief executive officer of Binance speaks during an event in Athens, Greece, November 25, 2022. REUTERS/Costas Baltas/File photo Acquire Licensing RightsNEW YORK, Nov 21 (Reuters) - Binance chief executive Changpeng Zhao will admit violating U.S. laws as part of a $4 billion settlement resolving a years-long probe into illicit finance breaches at the world's largest crypto exchange, said two sources familiar with the matter.He will also step down and plead guilty to violating criminal U.S. anti-money laundering requirements in a Seattle federal court on Tuesday, the...