Finance

Banks adjust legal terms to avoid bearing the cost of AI agent errors
US banks including Morgan Stanley, JPMorgan, Bank of America and Citi have refused to assume the errors of AI agents acting on behalf of their clients, and the trend could spread to European institutions. Spanish banks' legal terms will incorporate the scope of these agents' actions, while Wells Fargo will apply from November 24 a clause deeming certain agent instructions authorized by the client. The CJEU ruled that for an unauthorized payment the provider must refund the amount by the next business day, unless there is a well-founded suspicion of fraud.
FinanceInternationalEl EconomistaOct 28AI
Monzo opens in Spain without a waiting list: no-fee account and 2.50% APR savings pot
British digital bank Monzo is scrapping its waiting list in Spain from 28 October and closing its Beta phase, so any resident can sign up by providing proof of address. The lender, founded in London in 2015 with more than 16 million customers in the UK, entered the country in May. It offers a no-maintenance-fee account, physical and virtual cards, and a savings pot paying 2.50% APR (2.47% nominal) on the first 100,000 euros.
FinanceInternationalFinectOct 28AI
Mortgage applications plunge 40% in Spain, according to the ECB
Rising mortgage costs and tighter conditions have caused a collapse in lending across the eurozone, with Spain at the forefront. According to the European Central Bank, lenders recorded a 40% drop in mortgage applications, compared with 30% in the previous quarter and 27% for the European average. The increase is mainly attributed to the rise in official interest rates: banks did not raise requirements for customers, but they did raise the cost of contracting a loan.
FinanceInternationalEL PAÍSOct 28AI
Jio Platforms, Ambani's Indian telecom, rises 21% in stock market debut
Jio Platforms, the telecommunications and digital services unit of Reliance Industries, closed its first trading day with a 21% gain over its initial public offering price. Shares opened at ₹1,358 versus the ₹1,119 placement price. The deal raised US$3.2 billion and drew orders worth more than US$77 billion, making it the largest and most oversubscribed IPO in India's history. After the debut, the company was valued at around US$131.9 billion.
FinanceInternationalEl Ecosistema StartupOct 28AI
Spanish insurers show less investment risk appetite than global peers, according to BlackRock
BlackRock's fifteenth Annual Global Insurance Report, surveying 463 senior investment professionals across 31 markets representing $24 trillion in assets, indicates that inflation remains the main macroeconomic concern and that recession fears fell by nearly half. In Spain, 71% are maintaining their risk level versus 82% globally, 86% expect a soft landing in developed markets and 93% establish partnerships across multiple business areas.
FinanceInternationalSegurosNewsOct 28AI
Digital assets: US$9.4 trillion in annual activity and US$29.1 billion in flows in Colombia
Lawyers from Brigard Urrutia analyzed the role of digital assets in financial markets. According to Chainalysis' Global Crypto Adoption Index published in September 2026, economic activity tied to these assets reached US$9.4 trillion annually as of June 2026, despite a drop in market capitalization and price volatility. In Colombia, flows reach US$29.1 billion and retail transfers under US$100 grew 78.4%. They see opportunities in payments, remittances and tokenization.
FinanceColombiaLa RepúblicaOct 28AI
British neobank Monzo lands in Spain with free account and card and a 4% rate
British neobank Monzo is entering Spain, its first market outside the UK, with a free bank account and debit card, with no fees or conditions. Its interest-bearing account pays 4% AER on the first 5,000 euros and 2.5% on the rest up to 100,000 euros. Monzo, which has 16 million customers in the UK, has built a team of 80 people with an office in Madrid and a technology centre in Barcelona.
FinanceInternationalCinco DíasOct 27AI
Shareholder backlash over executive pay doubles at Spain's small listed companies
The average vote against remuneration policies at Ibex companies moderated to 6.6% in 2026, down from a record 11.5% in 2025, while rejection at the continuous market more than doubled from 6% to 12.6%, the highest level in the series, according to Georgeson's annual study. Adverse recommendations from proxy advisors fell nine points at the Ibex to 27% and rose to 61% at the continuous market from 44%.
FinanceInternationalCinco DíasOct 27AI
Markets give Lula a breather while scrutinizing his first fiscal policy steps
The Brazilian stock market lost more than 180 billion euros in value on Monday after the re-election of Luiz Inácio Lula da Silva, with the Bovespa falling 13.4%, while the real and public debt also slumped. After the initial punishment, investors appear to have given Lula a breather: on Tuesday the real and the stock market traded with modest gains. Attention now focuses on the appointments in the economic area and on the fiscal plans for 2027.
FinanceInternationalEL PAÍSOct 27AI
Fed meets six days before US elections with less market pressure
Kevin Warsh and the Federal Reserve's open market committee meet six days before the US midterm elections. Analysts expect rates to be held in the 3.75%-4% range, with futures pricing only a 10% chance of a hike, and expect the door to be opened to a move before year-end. Inflation stands at 3.7%. UBS, Amundi and ING agree on a hold; Bank of America sees grounds for an October hike.
FinanceInternationalEL PAÍSOct 27AI
Acciona open to keeping a minority stake in Acciona Energía as Norges Bank's interest wavers
In the sale process for Acciona Energía launched in June, the parent company is considering retaining a minority stake in its subsidiary, which would reduce the size of the deal. Norges Bank's continued participation in the consortium with EQT is wavering, according to financial sources, while EQT and Ardian remain in the bidding. Offers must value the equity at between 9 billion and 10 billion euros. Acciona, EQT and NBIM declined to comment.
FinanceInternationalCinco DíasOct 27AI
Ardian, EQT and Norges withdraw bids for Acciona Energía, leaving the €10 billion sale without buyers
Ardian, EQT and Norges Bank, the three finalist funds in the auction for 100% of Acciona Energía, have decided not to continue with their binding bids, according to sources close to the deal. The high price demanded by the sellers and the difficulty of raising €10 billion in financing explain the withdrawal. The Entrecanales family, which owns 80% through Acciona, is left without buyers for its renewables business and is weighing alliances with other companies in the sector or with the funds themselves.
FinanceInternationalEl ConfidencialOct 27AI
Invesco and Franklin Templeton set to take majority of Konecta by swapping €1.2 billion of debt for equity
Konecta's main creditors, Spain's largest call center group, have proposed swapping all of its debt, around €1.2 billion, for equity, which would give them close to 100% of the shares. Creditors include Invesco, Benefits Street Partners (a Franklin Templeton fund) and JP Morgan, alongside BNP Paribas and ICG. The company, owned by ICG and José María Pacheco, has accumulated €470 million in losses over three years and faces €100 million a year in debt costs.
FinanceInternationalEl ConfidencialOct 27AI
To reach 2 million pesos in 2027, Colombia's minimum wage would have to rise 14.23%
Colombia's current monthly legal minimum wage for 2026 is 1,750,905 pesos excluding transport allowance, according to Decree 1469 of 2025. For that pay to reach 2,000,000 pesos in 2027 it would have to increase by 249,095 pesos, or 14.23%, in a hypothetical scenario rather than an approved percentage. The adjustment debate takes place with annual inflation at 6.29% in September 2026 and under the framework of Law 278 of 1996.
FinanceColombiaEl TiempoOct 27AI
Colombian sentenced to 13 years in US prison for money laundering with cryptocurrencies
Leonardo de Jesús Zuluaga Duque, alias 'Rey', 63, a resident of Colombia, was sentenced in the United States to 160 months in prison, five years of supervised release and the forfeiture of more than $14.7 million. According to the Southern District of New York Attorney's Office, he oversaw a network that converted illicit money, including drug proceeds, into Tether and moved it through shell companies. The group laundered about $14.5 million between May and November 2023.
FinanceInternationalEl TiempoOct 27AI
Vietnam defends multilateralism and cooperation at the 2026 Autumn Economic Forum
Vietnamese Prime Minister Le Minh Hung defended multilateralism based on dialogue and respect for international law during the plenary session of the 2026 Autumn Economic Forum, held in Ho Chi Minh City under the theme "The spirit of cooperation in a new era." Minh Hung warned about competition between major powers, economic fragmentation and the restructuring of supply chains, and argued that cooperation must translate into concrete mechanisms and results.
FinanceInternationalPrensa LatinaOct 27AI
Three M&A deals close in Brazil: Urban, Greystar and Archimed
Three deals closed in Brazil: Urban, a virtual asset infrastructure and international payments firm, merged with Caldeira OTC Group, with a combined portfolio of 21 billion reais (about 3.923 billion dollars), and will seek a license from the Central Bank to operate as an SPSAV. Greystar Brasil bought 100% of Uliving Brasil, which holds 13 student housing properties. Archimed acquired, through its MED III fund, an indirect 70% stake in the holding companies of Genetica Tecnologias Ambientais. Deal values were not disclosed.
FinanceInternationalLexLatinOct 27AI
Wall Street closed higher ahead of tech earnings and the Fed's rate decision
Wall Street closed higher as traders await results from the big tech companies and the Federal Reserve's monetary policy decision. Enthusiasm over Anthropic's initial public offering filing held up. Alphabet and Microsoft report results on Wednesday and Amazon on Thursday. Meta posted negative free cash flow for the first time since 2012, after investing nearly $35 billion in the quarter, mainly in data centers and AI infrastructure.
FinanceInternationalAmbitoOct 27AI
South Korea's Kospi rises more than 5% at the open after SK hynix results
Seoul's Kospi rose more than 5% at Wednesday's open, driven by renewed optimism about artificial intelligence after memory chipmaker SK hynix reported quarterly results. In the first hour it gained 282.32 points to 5,920.66, while the Kosdaq rose 3.48% to 769.74. Korea Exchange activated a five-minute buy-side sidecar on the Kospi after the Kospi 200 futures index rose more than 5% in one minute. SK hynix reported profit of more than 39.7 trillion won and sales growth above 300%.
FinanceInternationalInfobaeOct 27AI
Chile's central bank holds benchmark interest rate at 4.5%
Chile's central bank decided at its monthly monetary policy meeting to keep the interest rate at 4.5 percentage points, the issuer said. The institution cited external and internal pressures: geopolitical tensions in the Middle East, a 15% rise in the Brent barrel price, the effects of the El Niño phenomenon on food prices and pressures on energy, transport and fertilizer costs. Domestically it mentioned the stock market decline, the peso's depreciation and higher long-term rates.
FinanceInternationalPrensa LatinaOct 27AI