ArcelorMittal says it has no clear visibility on whether the additional costs of its new electric‑arc furnace at its flagship low‑carbon plant can be transferred to customers, putting the price of green steel to the test.
During the fallout from the Ukraine conflict, traders at Gazprombank’s Luxembourg branch generated multi‑million profits by taking advantage of European Union sanctions imposed on Russia.
Bank of America appointed Simbah Mutasa and Sjoerd van Hooijdonk to head its Africa and Benelux investment banking operations, seeking to grow its corporate and investment banking business in those markets.
German financial regulator BaFin has deployed a special commissioner to oversee Deutsche Finance, a fund house facing significant challenges. Reports indicate substantial losses and auditor warnings, particularly affecting Luxembourg-domiciled funds managed by the company.
European airlines have failed to pay billions in passenger compensation for flight delays as required under EU261/2004 regulation. Analysis by the Financial Times shows that since 2011, €18 billion in compensation has been due to passengers, but only a small portion has actually been paid, leaving €3.2 billion currently unpaid.