Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.
Italian lender UniCredit has bought a 9 per cent stake in its German rival Commerzbank and is taking regulatory steps to increase its stake further, in a move that may open the door to long-awaited banking consolidation in Europe’s largest economy.
UniCredit acquired half of the stake from the German government and bought another 4.5 per cent on the open market.
UniCredit already owns Munich-based lender HypoVereinsbank and has long been considered as a prime candidate for an acquisition of Commerzbank, as a combination of both operations has the potential to generate a German finance powerhouse.
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UniCredit said on Wednesday morning that it would “engage with Commerzbank AG to explore value-creating opportunities for all stakeholders in both banks”.
It added that it was supporting the Frankfurt bank’s management and supervisory boards and acknowledged “the progress that they have made in improving the bank’s performance”.
UniCredit said it would submit regulatory filings for authorisation to potentially increase its stake in Commerzbank to more than 9.9 per cent “if and when necessary” but added that future decisions would “depend on the investment meeting UniCredit’s strict financial parameters which have been clearly and consistently communicated to the market”.
Commerzbank declined to comment.
Germany’s Finance Agency, which is in charge of the government’s debt management, borrowing and cash management, said on Wednesday morning that UniCredit would pay €700mn for the 53mn shares that the German government put on the block on Tuesday. It said that UniCredit “significantly” outbid all other bidders.
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Berlin last week announced it was planning to sell down its 16.5 per cent stake in Commerzbank, which it has been holding since rescuing the lender during the financial crisis in 2009. The government, whose stake has now fallen to 12 per cent, has committed to a lock-up period of 90 days before selling any more Commerzbank shares.
new video loaded: Trump and Harris Clash in a Fiery Presidential Debate
transcript
transcript
Trump and Harris Clash in a Fiery Presidential Debate
In their first face-to-face meeting, Kamala Harris put Donald Trump on the defensive as the former president tried to tie her to unpopular Biden administration policies.
“Kamala Harris. Let’s have a good debate.” “Nice to see you, have fun.” “Thank you.” “You will see during the course of his rallies, he talks about fictional characters like Hannibal Lecter. He will talk about windmills cause cancer. And what you will also notice is that people start leaving his rallies early out of exhaustion and boredom.” “Your running mate, JD Vance, has said that you would veto if it did come to your desk.” “Well, I didn’t discuss it with JD, in all fairness.” “She copied Biden’s plan. And it’s like four sentences — like, ‘Run, Spot, Run’ — four sentences that are just, ‘Oh, we’ll try and lower taxes.’ She doesn’t have a plan.” “We’re not going back. It’s time to turn the page. Let’s turn the page. Turn the page.”
Madaxweyne xigeenka Maraykanka Kamala Harris ahna Murashax xisbiga Dimuqraadiga, iyo Murashaxa xisbiga Jamhuuriga Donald Trump ayaa isku helay doodoodii ugu horreysay ee ay si fool ka fool ah isaga hor yimaadaan taas oo ka dhacday Philadelphia tan iyo markii uu tartanka ka haray Joe Biden.
Doodda oo lahayd habraacyo lagu xakamaynayey ayaa labada murasharax waxay si weyn doodooda ugu hadleen qodobo ay doonayeen inay ka iibiyaan cod bixiyaasha Maraykanka doorashada bisha Nofember ee sanadkan ka dhacaysa dalkaasi.
Dulucda doodooda oo ku dul-meeraysay qodobbo kala ahaa Socdaalka, ilmo iska soo ridka,dhaqaalaha, xakamaynta xaduudaha, dagaallada ka socda Ukraine iyo Qasa ayaa inta badan waxay labadooduba ku kala aragti duwanaayeen hababka ay u wajahayan haddii ay helaan doonistooda aqalka Cad.
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Doodda ayaa u ahayd teedii kowaad Kamala Harris, balse Trump ayaa doodda noocaan oo kale ah ay u ahayd markiisii toddobaad tan iyo markii ugu horreysay ee uu u tartamay madaxweyne 2016-kii.
Kamala Harris ayaa isku dayeysay inay iska difaacdo weerar afeedka, iyadoo u muuqatay inay iyada qudheedu weeraraysay siyaasadihii Trump uu ku hoggaaminayey Maryakanka afartii sano ee aqalka Cad uu joogay.
Dooda ayaa si weyn looga daawanayey TVyada caalamka oo malaayiin ruux ay daawanayeen, dadka doodaas daawaday falanqeeyana arrimaha siyaasadda Maraykanka, waxaa ka mid ahaa Dr. Asad Cali Weyd.
Asad, wuxuu BBC-da u sheegay in dooddu ula muuqatay mid lagu tilmaami karay “Weerar iyo weerar Celis”
Socdaalka
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Siyaasadda socdaalka waa qodob muhim u ah doorashada dalka Maraykanka labada murashax Kamala iyo Trupm ayaa doodooda ku nuux nuuxsaday siday hortabinta ugu leedahay.
Wariyaha ABC David Muir, ayaa weydiiyay Kamal Harris waxa ay ka qabaneyso dadka soo galootiga ah ee ka imaanaya bartamaha Ameerika.
Isagoo xasuusiyey in iyada uu Biden u xilsaaray inay baarto sababta ka dambeysa in soo galooti tiradaa leh ay ka yimaadeen bartamaha qaarada Ameerika, isagoo waydiiyey intii ay xukunka hayeen in tiro badan ay ka soo gudbeen soohdinta taas oo gaartay meeshii ugu sarreysay.
Kamal Harris waxay ku jawaabtay iney tahay qofka kaliya ee goobta dooda ka socoto ku sugan ee maxkamadeyay dadka sharci darrada ku soo gala dalka markii ay ahayd xeer ilaaliyaha gobolka California. Si loo xakameeyo soo galootiga sharci darada ah, waxay sheegtay inay taageertay sharci ay meel mariyeen congresska mareykanka oo ay ku jiraan jamhuuriga aadka uga soo horjeeda dadka ka soo tallaaba xadka. Waxey tiri “sharcigan waxuu ku kordhinayaa askarta xadka ilaalisa 1500 askari. Waxay wax ka qabanayaan in daroogada ka soo talaabta xadka la xakameeyo”. Waxey sheegtay in qoysas badan oo caawa daawanaya dooda ay dhibaato u keentay daroogadaas xadka laga soo galiyo, taas oo dhibaato badan ku heysa dadkeena.
“Waxaan dareemayaa in dadweynaha Mareykanku ay doonayaan hoggaamiye xal u hela arrimahan, Donald Trump xal uma helayo mana xalin karo. Aniga ayaa ah hogaamiyahaas” ayey intaa raacisay.
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Dhinaca kale, Donald Trump hadaladiisu waxay u muuqdeen kuwo aan isbaddelin oo doodahiisii hore la mid ahaa.
Waxuu ku eedeeyay in maamulka Biden iyo Harris wadanka dhaxalsiiyeen dhibaato ka dhalatay xadkii dalka oo noqday mid furan kaas oo danbiilayaal, dad daroogada ka ganacsada iyo argagaxiso ay wadanka soo galeen.
Asad Cali Weyd, ayaa BBC-da sheegay in doodooda dhanka socdaalka ay u muuqtay inay isla qireen arrimaha socdaalka uu yahay muhiimad u bahaan in si weyn wax looga qabto
Dhaqaalaha
Harris, waxay sheegtay inay doonayso inay kor u qaadayso cashuurta ganacsiyada waaweyn iyo dadka Maraykanka ah ee sameeya $400,000 (£305,000) sannadkii.
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Laakin waxa ay sidoo kale daaha ka qaaday dhowr tillaabo oo fududeyn doonta culeyska canshuuraha ee qoysaska.
Waxay Kamala ku eedeysay Trump in markii uu xafiiska joogay uu u daneeyey dadka hodanka ee uusan daryeelin dadka la daala dhaca nolosha.
Trump ayaa soo jeedinayey tiro canshuur dhimis ah oo ku kacaya trillions, waxa uu sheegay in uu ku bixin doono korriin sare iyo tacriif lagu soo rogo badeecadaha la soo dejiyo.
Wuxuu kale oo Trump ku eedeyey Joe Biden iyo Kamala Harris inay dalka u horseedeen sicir barar baahsan.
Colaadda Qasa
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Xigashada Sawirka, EPA
Colaadda tobanka bilood ka ka socota Qasa ee u dhaxaysa Israa’iil iyo Xamaas ayey soo hadal qaadeen labada murashax iyadoo qodobkaasi uu u muuqday in Trump ku weeraray Kamala Harris.
Sida uu sheegay BBC-da Asad Cali Weyd, Harris ayaa sheegtay inay wali taagan tagay mowqifkeedii ahaa in xalka yahay laba dowladood balse ay Israa’iil xaq u leedahay inay is difaaco.
Trump ayaa intii ay ka hadlaysay qodobkaasi waxaa uu ku weeraray Kamala inay neceb tahay Israa’iil.
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Trump, wuxuu sheegay in uu taageero buuxda siinayo Israa’iil , wuxuu kale oo sheegay inuu soo afjari doono dagaalka Qasa.
Dagaalka Yukrayn oo ay soo hadal qaadeen, Harris, waxay hoosta ka xariiqday inay sii wadi doonto taageerada Yukrayn
Ilmo iska soo ridida
Marka la eego siyaasadda doorashada Maraykanka qodobkan waxaa ka mid yahay kuwa miisaanka culus ku leh doorashadan.
Madaxweynihii hore Donald Trump oo dhexdhexaadiyaasha doodu waydiiyeen inuu cadeeyo mowqifkiisa ilmo iska soo ridida ayaa sheegay in dimuqraadiyiintu doonayaan qorshe uu ku tilmaamay mid “Xagjir ah”
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Trump oo hadalkiisa sii wata ayaa sheegay in uu gacan ka geystay in arrinta dib loogu soo celiyo gobolada oo aysan qorshahaas wax badan ugu oolin dowlada dhexe ee federalka ah.
Kamala Harris, ayaa sheegtay in qofna uusan ka tagin mowqifkiisa uu xaga u leeyahay.
Marka laysku soo xooriyo doodii dhexmartay Kamala Harris iyo Donald Trump, labaduba waxay doonayeen inay muujiyaan siday u yihiin kuwo ku xooggan doodaaha ka dib fashilkii Joe Biden ka qabsaday doodii uu kaga hortagay Trump.
The New York Times will be tracking speaking time during the only scheduled debate between Vice President Kamala Harris and former President Donald J. Trump. We will break it down by topic and measure how much time the candidates spend attacking each other. The debate will begin at 9 p.m. Eastern time.
Minutes of speaking time and length of attacks
The debate is scheduled to last 90 minutes.
This is the first head-to-head confrontation between Ms. Harris and Mr. Trump. It is also the first debate since President Biden exited the race after his disastrous showing with Mr. Trump in June.
Total speaking and attack time from the June presidential debate
Trump
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Time attacking opponent
Total time
18:04
41:02
With only 56 days remaining until Election Day, the debate stage provides Ms. Harris with an important opportunity for voters to get to know her. In the latest New York Times/Siena College national poll, 28 percent of likely voters said they needed to learn more about Ms. Harris; only 9 percent said the same about Mr. Trump.
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What are the top issues?
A measurement of how much time the candidates speak on key issues and how much time they spend attacking their rival on that topic.
How will Harris’s performance differ from Biden’s?
Percentage of time Ms. Harris spent on key issues, compared with Mr. Biden from the presidential debate in June.
How tonight’s attacks compare with previous debates
Percentage of time the candidates spend attacking each other’s policies and character.