Euro zone banks to repay another 36.6 bln euros in ECB loans

FRANKFURT, Feb 10 (Reuters) – Euro zone banks will repay another 36.6 billion euros in European Central Bank loans early, the ECB said on Friday, a small move that may still help the central bank’s fight against inflation by mopping up cash from the financial system.

The latest repayment of the ECB’s Targeted Longer-Term Refinancing Operations will take the amount of outstanding TLTRO loans to roughly 1.22 trillion euros – still more than half of its level in the autumn.

The ECB has given banks

Read more

Microsoft Azure losing money on $29 bln in revenue

Satya Nadella, chief executive officer of Microsoft Corp., during the company’s Ignite Spotlight event in Seoul on Nov. 15, 2022.

SeongJoon Cho | Bloomberg | Getty Images

Google has for years been playing catch-up in the cloud infrastructure market, where it’s seen in the industry as a distant third in the U.S., behind Amazon and Microsoft. The challenge for investors is that the three companies don’t report cloud infrastructure metrics in a way that makes them easily comparable.

However, an internal estimate assembled by Google employees, based on a leaked Microsoft document and some extrapolation of other market statistics,

Read more

Genworth revives mortgage insurance unit’s IPO, targets over $3 bln valuation

Sept 13 (Reuters) – Genworth Financial Inc on Monday revived plans for an initial public offering (IPO) of Enact Holdings, aiming for a valuation of more than $3 billion for its mortgage insurance unit, according to a regulatory filing.

The company had deferred the IPO in May due to market volatility, with Chief Executive Officer Tom McInerney saying the market pricing did not accurately reflect the company’s value.

Enact’s existing shareholders plan to raise as much as $266.21 million by selling about 13.31 million shares in the IPO, priced between $19 and $20 per share. Proceeds from the sale

Read more