Banks

The joint venture of Amazon.com Inc, Berkshire Hathaway Inc and JPMorgan Chase & Co will cease to exist at the end of February, three years after the companies came together hoping to clamp down escalating healthcare cost.

Deutsche Bank is gaining in financial strength, putting Germany's largest lender in a position to play a leading role in European banking consolidation, CEO Christian Sewing was quoted on Sunday as saying.

Cyber attacks have cost Russian companies and citizens up to 3.6 trillion roubles ($49 billion) this year, the country's largest lender Sberbank said.

Donald Trump's longtime banker at Deutsche Bank AG will be stepping down from the German lender, with the move coming as the bank looks for ways to cut its relations with the U.S. president.

U.S. bank shares outperformed the broader market on Monday, led by Goldman Sachs and Morgan Stanley, after the Federal Reserve said stress test results meant the sector could resume stock buybacks for the first time since the coronavirus-led downturn.

Britain's financial watchdog has fined U.S.-listed Charles Schwab's UK business 8.96 million pounds ($11.88 million) for failing to protect client assets, likening it to missteps taken by Lehman Brothers before the 2008 financial crisis.

Italian lender Banco BPM has agreed with Credit Agricole a partial revision of the terms of their Agos consumer credit partnership in the country.

A fund backed by Morgan Stanley Infrastructure Partners has made a cash offer to buy Germany's Tele Columbus AG in an agreed deal that values the fibre network operator at over 400 million euros ($487.84 million), Tele Columbus said.

Aviva and UniCredit expect non-binding bids for their insurance joint-venture next week as the British insurer moves to divest its Italian operations, three people close to the matter said.