UCG.MI - UniCredit S.p.A.

Milan - Milan Delayed Price. Currency in EUR
9.58
-0.17 (-1.78%)
At close: 5:21PM CEST
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Previous Close9.76
Open9.87
Bid9.59 x 0
Ask9.59 x 0
Day's Range9.58 - 9.90
52 Week Range9.07 - 14.35
Volume14,647,702
Avg. Volume18,940,838
Market Cap21.398B
Beta (3Y Monthly)1.87
PE Ratio (TTM)4.39
EPS (TTM)2.18
Earnings DateNov 7, 2019
Forward Dividend & Yield0.27 (2.80%)
Ex-Dividend Date2019-04-23
1y Target Est16.38
  • Financial Times

    ECB extends timescale for banks to make bad loan provisions

    European banks have been given more time to set aside funds to cover losses from loans that go bad, after the European Central Bank bowed to pressure from Brussels lawmakers to water down its plans for a tougher treatment of toxic debts. It follows the arrival of Andrea Enria, the Italian former chair of the European Banking Authority, as the head of the SSM, which supervises the eurozone’s biggest banks. The rule changes, which will only affect loans originated after April 26, mean that banks will have three years instead of two to book provisions fully covering the value of any unsecured loans that go bad.

  • Financial Times

    Corporate Italy buckles up for latest political rollercoaster

    Italian newspapers routinely mark the end of the August summer holidays with headlines warning about a “torrid autumn” of political, social and economic strife as the debt mired country tries to put its budget in order to submit to Brussels. For corporate Italy, especially the banks, which are big owners of Italian sovereign debt and have loan books exposed to the stagnating real economy, the rising political temperature risks becoming too hot for comfort. The latest political crisis erupted in dramatic form even for a country that has had more than 60 governments since the second world war.

  • Bloomberg

    Accused Capital One Hacker’s Volatile History Put Before Judge

    (Bloomberg) -- Federal prosecutors in Seattle have pieced together a string of disturbing social-media posts and police complaints to portray the accused Capital One Financial Corp. hacker as an unhinged danger to society who should remain locked up while awaiting trial.It’s a characterization disputed by Paige A. Thompson’s lawyers, who asked a judge on Tuesday to cancel a bail hearing set for later this week and immediately release her to a halfway house, with GPS monitoring.Thompson, 33, was arrested last month and charged with stealing personal data on more than 100 million people from Capital One. She has a long history of dangerous behavior that includes threats to kill others and to commit “suicide by cop,” prosecutors said in their request last week to keep her in jail.“In today’s America, it is easy enough to obtain firearms, and there is every reason to be concerned that Thompson, who repeatedly has threatened to kill, would obtain the means to carry out, and carry out, her threats -- particularly when confronted with the alternative of near-certain conviction and imprisonment,” the prosecutors said.The U.S. bolstered its case with a claim that Thompson broke into servers of more than 30 other companies, educational institutions and other entities, and that investigators are still sifting through “multiple terabytes” of data to see what kind of information was stolen. The government said it expects to add an additional charge as victims are identified and notified.The Capital One theft “was only one part of her criminal conduct,” the U.S. said.Thompson’s federal public defender, Mohammad Ali Hamoudi, said the government hadn’t provided any evidence that Thompson has tried to dodge police or avoid court appearances after those earlier run-ins.“Rather than establish that these incidents prove Ms. Thompson is a serious risk of flight, the government has established that she cooperates with law enforcement, does not flee, and has no means to leave the jurisdiction,“ Hamoudi said in the filing.Hamoudi argued Thompson is suffering greater harm in custody because she is transgender, and that she’d be better off in a halfway house with appropriate clinical care than confined to a jail where suicides are known to occur. He cited the recent suicide of sex-trafficker Jeffrey Epstein as one example.Capital One’s lawyers didn’t weigh in on the matter and its press office didn’t respond to requests for comment on Thompson’s detention.Prosecutors argued that if Thompson -- a former employee of Amazon.com Inc. -- were set free, she could sell any stolen data she may have secretly stashed away and that hasn’t been found by federal agents, including data from the other entities she allegedly hacked. They also said she has the skills to carry out other hacks.Prosecutors didn’t identify any of the other companies or entities whose servers were allegedly breached. Several companies, including UniCredit SpA and Ford Motor Co. said they were investigating whether they were involved in the breach. The prosecutors focused mostly on the many examples of Thompson’s allegedly dangerous behavior.Earlier this month, the U.S. claimed Thompson had once threatened a social media company that prosecutors didn’t identify. The U.S. said police were called to Thompson’s house in May after she contacted an acquaintance at the company. She threatened to travel to its California campus and to “shoot up” the office, prosecutors said.The U.S. said Thompson had access to an “arsenal” of firearms that authorities found in Thompson’s home that allegedly belonged to her roommate, Park Quan. The stash, much of which was seized because Quan is a convicted felon, included ammunition, explosive material, assault rifles and a sniper rifle, the U.S. said.But when police followed up to investigate the threat against the company, they concluded Thompson “had no monetary or transportation means to come to California,” Hamoudi responded.Police ReportIn March, police were called to Thompson’s house after she became violent with four housemates and threatened to use a fake gun to commit “suicide by cop,” the U.S. said. And in social-media posts in June, Thompson allegedly said she had “nothing to lose” and threatened to kill police officers, the U.S. said.That allegation was challenged by a person involved in the incident, who said the report didn’t accurately reflect what happened, and that Thompson never made serious threats about “suicide by cop,” Hamoudi wrote.“I know what Ms. Thompson will and won’t do, and she will not harm others,” Hamoudi quoted the person involved -- Diane Eakes -- as saying. “Ms. Thompson pushes people away and that is what she was trying to do.”The case is U.S. v. Thompson, 2:19-mj-00344, U.S. District Court, Western District of Washington (Seattle).(Updates with request for comment from Capital One.)To contact the reporter on this story: Erik Larson in New York at elarson4@bloomberg.netTo contact the editors responsible for this story: David Glovin at dglovin@bloomberg.net, Joe Schneider, Peter BlumbergFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • ‘A Total Mess’: Investors in Italy Stocks React to Conte’s Exit
    Bloomberg

    ‘A Total Mess’: Investors in Italy Stocks React to Conte’s Exit

    (Bloomberg) -- Italian Prime Minister Giuseppe Conte’s decision to hand in his resignation isn’t helping stressed-out holders of the nation’s equities.The FTSE MIB Index fell as much as 1.3% before paring its declines to 0.6%, led by a retreat in Italy’s biggest companies, such as UniCredit SpA and Ferrari NV. In contrast, bond holders rejoiced, shining a light on the divide between equity and fixed-income investors in Italian markets.The impact of Conte’s announcement transcends the nation’s assets and boosts the political risk for the entire region. European equities are notoriously unloved by global investors due to a lack of political predictability, among other factors.Here’s what investors and strategists are saying:Uwe Maderer, Deka“The Italian situation continues to be a total mess. They have not understood the precarious economic situation in which the country is. I see nothing positive in Conte’s resignation and in new elections in the autumn. The only positive sign for Italy is the potential upcoming renewed ECB easing.”Chris Beauchamp, IG“His resignation was expected, but perhaps not so quickly. But he has pulled the rug out from underneath Salvini -- the coalition is probably at an end. It marks a significant escalation in the government crisis and puts the Italian budget in jeopardy, although if he can cobble together one without the League, it might help to provide a better platform for negotiations with Brussels.”Manish Singh, Crossbridge Capital“It adds to uncertainty in Italy and by extension to the euro-zone. Salvini is running high in the polls, if he wins as is predicted, what stops him from pursuing a wholly independent policy that runs against what Brussels wants/likes -- flat tax, more spending, higher deficit? It will open a can of worms in the euro-zone. Were Italy to succeed in bringing growth back on the back of that, the EU will have existential questions to answer, given they are so opposed to his policies.”Stephane Barbier de la Serre, Makor Capital Markets“Beyond traditional theatrical antics, what we have seen today on the Italian front has been largely anticipated by markets, which does explain the essentially muted reaction to Conte’s resignation. Put it this way: a new election is not a done deal yet and a new government and therefore rejuvenated impetus may precisely be what the country needs at this juncture.”\--With assistance from Ksenia Galouchko.To contact the reporters on this story: Jan-Patrick Barnert in Frankfurt at jbarnert3@bloomberg.net;Justina Lee in London at jlee1489@bloomberg.net;Michael Msika in London at mmsika4@bloomberg.netTo contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, John ViljoenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Italian Stocks Deepen August Losses as Prime Minister to Resign
    Bloomberg

    Italian Stocks Deepen August Losses as Prime Minister to Resign

    (Bloomberg) -- Italian stocks extended this month’s decline after Prime Minister Giuseppe Conte announced his plans to resign.The FTSE MIB Index was down 0.7% as of 4:49 p.m. in Milan, after earlier sliding as much as 1.3%. Banking shares paced the declines, with UniCredit SpA losing 1.9% and Intesa Sanpaolo falling 0.6%. Italy’s equity benchmark is heading for its worst monthly drop since May, after one of the country’s coalition partners withdrew support to the government earlier in August.Conte’s resignation “marks a significant escalation in the government crisis and puts the Italian budget in jeopardy, although if he can cobble together one without the League it might help to provide a better platform for negotiations with Brussels,” said Chris Beauchamp, chief market analyst at IG.Italian markets have had a bumpy 14 months since the coalition between the right-wing League party and the anti-establishment Five Star Movement formed and announced plans to raise spending, putting it on a collision course with the European Union. Just when investors thought they could breathe easy after the government lowered its budget deficit in a bid to avoid EU sanctions, fresh political turmoil hit the market.Conte said he will hand his resignation to the Italian president later on Tuesday after telling lawmakers that his deputy Matteo Salvini’s rebellion means the administration can’t continue. At stake is whether Italy’s mountain of public debt will be managed by a right-wing ideologue set on confrontation with the EU.To contact the reporter on this story: Ksenia Galouchko in London at kgalouchko1@bloomberg.netTo contact the editors responsible for this story: Blaise Robinson at brobinson58@bloomberg.net, Namitha Jagadeesh, John ViljoenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Deutsche Bank’s Fresh Low Underscores European Banking’s Decline
    Bloomberg

    Deutsche Bank’s Fresh Low Underscores European Banking’s Decline

    (Bloomberg) -- Deutsche Bank AG has hit bottom, again.Two months after rebounding from its previous low, buoyed by optimism about Chief Executive Officer Christian Sewing’s strategy reboot, Germany’s largest lender fell to a fresh record in Frankfurt trading. The stock is now down 94% from its peak in 2007.But while there’s plenty of blame to go around the German lender’s boardroom for its past performance, the former investment banking giant is hardly alone in Europe in this latest rout. From Spain’s Bankia SA and Banco de Sabadell SA to Italy’s UniCredit SpA, lenders across Europe are trading at or near their historic lows. Commerzbank AG hit a new one, showing the depth of the challenge for CEO Martin Zielke in his fourth year leading the embattled German lender.Their woes underscore the impact of the recent reversal in expectations for interest rates, which threaten to prolong European lenders’ lost decade indefinitely. More than 10 years after markets bottomed in the financial crisis, bank shares in the region have barely budged while their U.S. peers saw their shares soar almost seven-fold.There’s a long list of reasons, other than interest rates, to explain why European banks have done so poorly. They include tens of billions in misconduct charges and Europe’s slow response to the financial crisis, which left banks struggling much longer under toxic assets. There’s the unfinished project for a European banking union that would make consolidation easier and cut the doom loop between governments and banks. And there’s another one for a capital markets union that’s also far from being done.All of those headwinds are being magnified now that the European Central Bank appears set on lowering already negative interest rates even further, rather than raising them as markets had expected until recently. Banks are now the worst performing industry in Europe this year, and Deutsche Bank is far from the worst performer.The German lender fell 2.7% in Frankfurt trading, while the Stoxx Europe 600 Banks Index declined 0.3%.To contact the reporters on this story: Jan-Patrick Barnert in Frankfurt at jbarnert3@bloomberg.net;Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.netTo contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Christian Baumgaertel, Jon MenonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Financial Times

    Time to buy battered European banks, says fund manager

    A big sell-off in European bank stocks has gone on long enough, according to fund manager Davide Serra, who says the sector now offers “massive value” to long-term investors. Mr Serra, founder of London-based Algebris, which specialises in investing in financial institutions, says that while European Central Bank policymakers are “killing” the continent’s banks by squeezing their interest margins, many fund managers have become “overly bearish” on the sector. The Stoxx Europe 600 Bank index has dropped more than 9 per cent year to date, after falls of more than one-third last year, and is now within reach of its record low hit in 2012 at the height of the eurozone debt crisis.

  • European Banks Staring Down Barrel of ECB Rate Cut Seek Relief
    Bloomberg

    European Banks Staring Down Barrel of ECB Rate Cut Seek Relief

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.After five years of negative interest rates, Europe’s lenders are grasping for straws.Top bankers used the release of dire earnings in recent weeks to lobby the European Central Bank to soften the blow of another potential interest rate cut. From Deutsche Bank AG to UniCredit SpA, executives say expectations for even lower rates have already made it harder to meet their goals, at a time when international trade disputes have clients sitting on the sidelines.“It’s a cry for help because rates are really hurting banks, hitting their share prices and even undermining whole business models,” said Michael Huenseler, who helps manage about 24 billion euros ($27 billion) including European bank bonds at Assenagon Asset Management in Munich. “European bankers never dreamed they’d be living with low rates for so long.”High on the wish-list for lenders is an exemption from at least some of the charges for holding deposits at the central bank, known as tiering. The ECB, which introduced negative rates in 2014, charges banks more than 7 billion euros a year to deposit cash. That’s hitting lenders from Germany, France and the Netherlands in particular, because they account for the biggest share of excess liquidity held at the region’s central banks.Germany’s Commerzbank AG alone would face a 50 million-euro hit to lending income if the ECB cut its deposit rate to minus 0.5% from minus 0.4%, as many economists predict. So far this year, the bank has compensated for the cost of negative rates by lending more, charging corporate clients for deposits and thanks to lower funding costs, according to finance chief Stephan Engels.His counterpart at Deutsche Bank, James von Moltke, says tiering could “be better than neutral to us in terms of the revenue impact.” Both Deutsche Bank and Commerzbank have struggled with low profitability for years and have been unable to stage successful turnarounds.The ECB said in July that tiering is an option it’s looking at. It has been adopted in other countries, but it’s unclear how or whether the ECB would apply it. It’s also not clear whether banks, many of which have started to pass on some of the cost of holding excess cash to their institutional clients, could keep any savings from tiering or would be required to share them.“My simple -- but it may be too simple -- assumption would be that the ECB’s interest would be to strengthen the profitability and capital base of the banks,” Engels said on a recent call. In that case, banks shouldn’t be allowed to pass the savings on, he said.Credit Agricole SA, which bills corporate and institutional customers at its asset servicing unit for ECB deposit charges, thinks it would probably have to share the benefits of tiering, according to finance chief Jerome Grivet. “So I don’t expect a significant improvement” in profitability as a consequence, he told analysts last week.“It’s possible we get some benefit through tiering, but I think that’s unlikely to offset the overall impact of lower rates on us,” Clifford Abrahams, the finance chief of Dutch lender ABN Amro Bank NV, said in an Aug. 7 interview with Bloomberg TV. “So we need to be operating the business to succeed in a low-rate environment.”Whether banks can hang on to the savings is largely up to the ECB. Tiering would also help the ECB keep other benchmark rates lower for longer, which in turn eats into lending margins at banks. That’s why for some, it’s not much more than a sideshow.“We have to move away from the policy that is currently being anticipated,” Ralph Hamers, who runs Dutch lender ING Groep NV, told analysts last week. “Banks need a positive yield curve. Banks need an interest rate environment that is healthy, that is resembling a healthy economy.”To contact the reporters on this story: Nicholas Comfort in Frankfurt at ncomfort1@bloomberg.net;Steven Arons in Frankfurt at sarons@bloomberg.netTo contact the editors responsible for this story: Dale Crofts at dcrofts@bloomberg.net, Christian BaumgaertelFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters

    Chemical deals lift European shares, banks weigh

    European shares rose on Wednesday after three sessions of losses as deal-making activity in the chemical sector helped offset pale earnings from banks in the region, with U.S.-China trade worries lingering. German chemical groups Bayer and Lanxess agreed to sell chemical park operator Currenta to Macquarie Infrastructure and Real Assets (MIRA) for an enterprise value of 3.5 billion euros ($3.9 billion). Banks moved lower, with Italian banks weighing after mixed earnings from the country's top lenders.

  • Stocks Advance on Hope Trade War Won’t Get Worse: Markets Wrap
    Bloomberg

    Stocks Advance on Hope Trade War Won’t Get Worse: Markets Wrap

    (Bloomberg) -- U.S. shares clawed back some of their recent losses after China’s move to stabilize its currency fueled speculation cooler heads will prevent a full-blown trade war.The S&P 500 Index rose 1.3%, though it remained well off the record high it reached just a bit more than a week ago. The dollar steadied and gold held near a six-year high after China fixed the yuan at stronger than 7 per dollar, the level that spurred a global sell-off Monday. Treasuries gave back some of yesterday’s surge, which had created the most extreme yield-curve inversion since the lead-up to the 2008 financial crisis.China’s move to stabilize the yuan offered some reassurance that the trade conflict between the world’s two largest economies might be contained. But it came hours after the U.S. had designated the country a currency “manipulator,” a move that could open the door to new penalties on top of the tariff hikes already imposed on Chinese goods. For its part, China said the recent yuan depreciation was decided by the market, not Beijing, and denied the Trump administration’s accusation.“It was encouraging to see China walk in and support the currency overnight,” said Ed Keon, a managing director and portfolio manager at QMA. “But there’s still a long way to go and it feels as if this has entered a new, and perhaps more dangerous, phase.”Meanwhile, White House Chief Economic Adviser Larry Kudlow said the U.S. expects China to visit for more trade talks in September. Bloomberg reported the People’s Bank of China reassured a number of foreign exporters the yuan won’t continue to weaken significantly and the companies’ ability to buy and sell dollars would remain normal.Brent oil slid into bear-market territory as investors speculated a slowing economy could sap demand. The Stoxx Europe 600 erased gains and dropped for a third straight day. The yen slipped from its strongest closing level in more than a year. The benchmark gauge for Asian stocks fell for a fifth session.Elsewhere, Bitcoin broke above $12,000 for the first time in three weeks before pulling back. The pound strengthened as opponents of a no-deal Brexit hardened their plans to stop Prime Minister Boris Johnson from possibly trying to leave the European Union with no agreement.These are some key events to watch out for this week:Earnings from financial giants include: UniCredit, AIG, ABN Amro Bank, Standard Bank, Japan Post Bank.Central banks with rate decisions Wednesday include India and New Zealand.A string of Fed policy makers speak this week, including Chicago’s Charles Evans on Wednesday.Here are the main moves in markets (all sizes and scopes are on a closing basis):StocksThe S&P 500 Index rose 1.3% at the close of trading in New York.The Stoxx Europe 600 Index fell 0.5%.The MSCI Asia Pacific Index declined 0.8%, hitting the lowest in almost seven months.CurrenciesThe Bloomberg Dollar Spot Index rose 0.1%.The euro was little changed at $1.1197.The British pound gained 0.2% to $1.2161.The Japanese yen sank 0.5% to 106.52 per dollar.The onshore yuan jumped 0.4% to 7.0198 per dollar, the biggest increase in six weeks.BondsThe yield on 10-year Treasuries increased one basis point to 1.72%, the first advance in more than a week.Britain’s 10-year yield was little changed at 0.51%.Germany’s 10-year yield decreased two basis points to -0.54%, hitting the lowest on record with its eighth straight decline.CommoditiesGold rose 0.6% to $1,472.63 an ounce, the highest in more than six years.West Texas Intermediate crude fell 1.9% to $53.68 a barrel.\--With assistance from David Ingles, Cormac Mullen, Andreea Papuc and Laura Curtis.To contact the reporters on this story: Brendan Walsh in Austin at bwalsh8@bloomberg.net;Olivia Rinaldi in New York at orinaldi1@bloomberg.netTo contact the editors responsible for this story: Jeremy Herron at jherron8@bloomberg.net, Brendan WalshFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Europe Bankers’ Annus Horribilis Continues With 4,000 HSBC Cuts
    Bloomberg

    Europe Bankers’ Annus Horribilis Continues With 4,000 HSBC Cuts

    (Bloomberg) -- Summer just got a bit gloomier for the European banking job market.HSBC Holdings Plc announced the surprise ouster of its top executive on Monday, but John Flint isn’t the only banker who will go. Europe’s largest lender also fleshed out the extent of a job reduction plan. More than 4,000 posts will be cut, and Chief Financial Officer Ewen Stevenson said the program is aimed at more senior staff.The pace of cutbacks in the industry has been unrelenting. Just two weeks ago, people familiar with the matter said UniCredit SpA is considering as many as 10,000 cuts later this year. France’s Societe Generale SA is also reducing staff as trading slumps, and Deutsche Bank AG remains embroiled in its latest strategic overhaul.The reasons for the worst banking job market since the financial crisis are many and varied: the rise of automation, the persistence of negative interest rates in Europe, Brexit. HSBC indicated that geopolitical and trade tensions also helped prompt a rethink, with Chairman Mark Tucker saying new leadership was needed in a world where income wouldn’t grow as quickly as previously assumed.Parts of the U.K. investment bank are doing well, other parts less so, Stevenson said on a conference call, declining to give more detail. He also cited a “customer selection issue” in Europe, with some clients not generating enough profit to be worthwhile.HSBC is also more affected by U.S. rates than some other European firms, given the currency peg in Hong Kong, and sizeable Stateside operations that were singled out for criticism on a conference call. The Federal Reserve’s recent dovish turn has reversed optimism about widening lending margins for U.S. lenders, and HSBC is following suit.Hong Kong has been roiled by unrest for weeks, but HSBC’s executives indicated they were still pleased with growth in the territory. HSBC has about 238,000 employees, according to its website.Here’s a list of financial firms in Europe, the Middle East and Africa that have announced job cuts since Jan. 1:HSBC’s cuts were first flagged in April, when people familiar with the matter said managers were under pressure to find job reductions as part of a program called Project Oak. A month later, it emerged that a cull of more than 500 jobs would begin within weeks at the global banking and markets unit, with London in the front line. Barclays Plc Chief Executive Officer Jes Staley said the bank cut 3,000 jobs in the second quarter. The cuts were “not concentrated in a particular area, but across the board,” and in divisions that weren’t generating returns, CFO Tushar Morzaria said.UniCredit CEO Jean Pierre Mustier’s strategic plan, to be unveiled in December, may also include a reduction in other operating expenses of as much as 10%, people familiar with the matter said in July. Deutsche Bank envisions about 18,000 job losses in a strategic overhaul that will ditch equities trading and sharply pull back from investment banking businesses in most countries outside Europe.Societe Generale has said it’s cutting 1,600 jobs after a slump in trading revenue. That includes close to 1,200 positions at the global banking and investor solutions division, which houses its trading activities. Dozens of jobs have already gone in London.DWS Group, Deutsche Bank’s asset-management unit, is said to have fired dozens of employees, including about 10 managing directors. More cuts are likely as the business responds to continued pressure on margins.London Stock Exchange Group Plc disclosed plans to eliminate around 5% of global headcount.Banco Santander SA reached an agreement with unions to dismiss 3,223 workers, or 10% of its staff in Spain, and shutter duplicated branches as part of the integration of Banco Popular Espanol SA. The lender is also in the process of closing 140 branches in the U.K. and eliminating 1,400 jobs in Poland, reducing its workforce there by 11%.Bank Pekao SA has embarked on a second wave of job cuts in as many years, with as many as 900 positions, or about 6% of the total, at stake at Poland’s third-largest lender.CaixaBank SA of Spain reached an agreement with unions to eliminate as many as 2,023 positions, the bank said in May.Baader Bank AG, a small German investment-banking boutique, is cutting staff by about 15% and selling assets after a loss.To contact the reporters on this story: Keith Campbell in London at k.campbell@bloomberg.net;Harry Wilson in London at hwilson57@bloomberg.netTo contact the editors responsible for this story: Ambereen Choudhury at achoudhury@bloomberg.net, Ross LarsenFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Hacker Threatened Shooting at Social Media Company, U.S. Says
    Bloomberg

    Hacker Threatened Shooting at Social Media Company, U.S. Says

    (Bloomberg) -- The Seattle woman accused of a massive hack of personal and financial data from Capital One Financial Corp. threatened to shoot up an unnamed California social media company, according to court records.Paige Thompson, 33, was arrested during a raid of her house Monday morning and charged with illegally accessing Capital One’s files. More than 100 million people were affected by the breach, which included names, dates of birth and about 140,000 Social Security numbers, the bank said.Federal officials also arrested her landlord, Park Quan, after finding more than a dozen guns and explosive materials in his bedroom, prosecutors said. In arguing that Quan should be detained, prosecutors said late Wednesday that Thompson was the "subject of one or more restraining orders and had made express threats to harm others and herself."“In fact, in late May 2019, Person 1 threatened to ‘shoot up’ the office of a California social media company,” prosecutors wrote in a filing. A person familiar with the case said that "Person 1” is Thompson.Thompson’s lawyers didn’t respond to a request for comment. The allegation about the shooting threat was earlier reported by the Associated Press.Quan, who has at least three prior felony convictions, was charged as a felon in possession of a firearm, according to prosecutors. His attorney didn’t respond to a request for comment.Thompson, a former Amazon.com Inc. employee, was charged with computer fraud and abuse. A tipster alerted Capital One to the breach on July 17.The Federal Bureau of Investigation’s probe into Thompson’s social media discovered that she’d posted "about several companies, government entities and education institutions" on a Slack channel, according to court records. In the days since her arrest, the FBI and Amazon have been trying to determine if Thompson’s alleged hacking extended to them or others.One of those was Michigan State University. Spokeswoman Emily Guerrant said the school was working with the FBI to determine if its computer system was breached. "Other than the old chat logs, we have no evidence to suggest MSU was compromised," she said.A spokesman for Milan, Italy-based UniCredit SpA said it was investigating the possibility of a hack and had contacted relevant authorities. In an internal memo issued Thursday and reviewed by Bloomberg News, the bank said, “At this time, there is NO evidence of any customer data having been accessed or compromised."Breach InquiriesLinda Lacewell, New York’s financial services superintendent, said UniCredit, which is regulated in the state, had alerted her office to "the possible loss of consumer data related to the Capital One data breach." Lacewell said in a statement that her office is examining the matter.The Ohio Department of Transportation said it was alerted to the issue by media reports and was working with the FBI to determine if the agency was compromised. Ford Motor Company said it too was investigating to determine if it was involved in the breach.Amazon said Wednesday it had reached out to cloud-computing customers mentioned in online postings by Thompson, but had found no proof she was able to exploit similar flaws at those companies.(Updates with responses from entities that may have been hacked.)\--With assistance from Nico Grant.To contact the reporters on this story: William Turton in New York at wturton1@bloomberg.net;Kartikay Mehrotra in San Francisco at kmehrotra2@bloomberg.netTo contact the editors responsible for this story: Andrew Martin at amartin146@bloomberg.net, Molly SchuetzFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Amazon Contacted Customers Named by Alleged Capital One Hacker
    Bloomberg

    Amazon Contacted Customers Named by Alleged Capital One Hacker

    (Bloomberg) -- Amazon.com Inc. said it has reached out to cloud-computing customers mentioned in online postings by the accused perpetrator of a data breach of Capital One Financial Corp., but found no proof she was able to exploit similar flaws at those companies.Paige Thompson, a former Amazon Web Services employee, was arrested on Monday and charged with computer fraud for accessing data of an estimated 100 million people in the U.S. from Capital One by exploiting a misconfigured firewall that gave her access to some of the data the firm stored on AWS.In a post on the online messaging service Slack, Thompson appeared to refer to other improperly secured Amazon databases she was able to access, according to a person who had seen the conversation and shared it with Bloomberg. That message was reported earlier by cybersecurity blogger KrebsOnSecurity.Grant Milne, an AWS spokesman, said the company had “reached out to the customers mentioned in online forums by the perpetrator to help them assess their own logs for any evidence of an issue.”“At this point, we do not have proof that the perpetrator in the Capital One incident found similar application flaws in a few other customers,” Milne said Wednesday in an email. He didn’t name the customers.The Wall Street Journal, which earlier Wednesday reported Amazon’s outreach, said that UniCredit SpA, one of the companies named in the Slack posting, was investigating the possibility of a similar data breach.To contact the reporters on this story: Matt Day in Seattle at mday63@bloomberg.net;Nico Grant in San Francisco at ngrant20@bloomberg.netTo contact the editors responsible for this story: Jillian Ward at jward56@bloomberg.net, Andrew PollackFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Moody's

    BA-CA Finance (Cayman Island) 2 Ltd -- Moody's upgrades UniCredit Bank Austria's deposit ratings to A3 with stable outlook

    Moody's Investors Service today upgraded the long-term deposit ratings of UniCredit Bank Austria AG (UBA) to A3 from Baa1, and changed the outlook to stable from positive. Moody's also upgraded by one notch the subordinated program rating to (P)Baa3 from (P)Ba1, the backed subordinated debt rating to Baa1 from Baa2, various hybrid debt instrument ratings issued by supported entities to Ba2(hyb) from Ba3(hyb), UBA's Baseline Credit Assessment (BCA) and the Adjusted BCA to baa2 from baa3, as well as the Counterparty Risk Assessments to A2(cr)/P-1(cr) from A3(cr)/P-2(cr) and the Counterparty Risk Ratings to A2/P-1 from A3/P-2.

  • Moody's

    UniCredit Int'l Bank (Luxembourg) S.A. -- Moody's takes actions on UniCredit's ratings

    Moody's Investors Service ("Moody's") today took the following actions on the ratings and assessments of UniCredit S.p.A. (UniCredit). Today's rating action reflects the continued de-risking and strengthening of UniCredit's credit profile underpinned by a sharp reduction in the stock of problem loans in recent years together with improved and more stable profitability.

  • Reuters

    Slovenian banks Jan-May profit up 16.4%, bad loans fall

    Slovenian banks had a joint net profit of 268.3 million euros ($301.46 million)in the first five months of 2019 versus 230.5 million in the same period of last year, the Bank of Slovenia said in its monthly report on banks on Thursday. "The banking system is operating in favourable economic conditions but Slovenia's economic growth can slow down in the future due to increasing risks in international environment," the central bank said, referring mainly to global trade conflicts. Slovenia only narrowly avoided an international bailout for its banks in 2013.