Weekly Global News Wrap: BNY Mellon mandates 4-day office rule; EU weighs UniCredit bid
And Warren Buffet will step down as chief of Berkshire Hathaway by the end of 2025.
From Reuters:
Bank of New York Mellon has asked its employees to return to the office four days a week by 2 September 2025, according to a memo seen by Reuters.
Employees currently must work in the office for three days a week.
The move comes after other Wall Street banks implemented stricter in-office mandates.
JPMorgan Chase reportedly prompted staff complaints after it told workers on hybrid schedules to come back five days a week starting March 2025.
From Bloomberg:
Warren Buffett, who built Berkshire Hathaway Inc. into a business valued at more than $1.16t, will step down at year-end after six decades atop the conglomerate.
Greg Abel, the vice chairman for non-insurance operations, will take charge of the conglomerate upon board approval, Buffett, 94, said Saturday at the company’s annual shareholder meeting in Omaha, Nebraska.
From Reuters:
EU antitrust regulators will rule on Italian bank UniCredit's takeover bid for its smaller rival Banco BPM by 4 June 2025, according to a filing on the European Commission website.
UniCredit's offer has already been rejected by Banco BPM as too low.
The EU competition watchdog can approve the bid with or without remedies at the end of its preliminary review or it can open a four-month-long investigation if it has serious concerns.
From Bloomberg:
Asian finance ministers and central bankers called for enhanced regional unity in the face of the US tariffs.
“We call for enhanced regional unity and cooperation as we endeavor to weather the heightened uncertainty,” officials from Japan, China, South Korea and the Association of Southeast Asian Nations reportedly said in a statement on Sunday in Milan, on the sidelines of the annual meeting of the Asian Development Bank.
