ABN Amro’s new chief executive unveiled sweeping restructuring plans, including the elimination of 5,200 jobs — roughly 25% of the Dutch lender’s workforce — as the bank seeks to streamline operations and lift profitability.
On the geopolitical front, Washington and Kyiv are working to narrow remaining gaps over the US-drafted 28-point peace framework for Ukraine. US and Russian diplomats also met in the UAE to refine elements of the proposal, according to people familiar with the talks.
US equities extended last week’s rebound, with semiconductor shares leading a 1.66% advance in the S&P 500 as investors continued to rotate into AI-linked names. The move builds on momentum from Friday’s rally.
In Europe, carmakers posted their fourth straight month of growth, with new registrations rising 4.9% year-on-year as the sector continues to recover from its recent slump.
Both European and Asian markets traded largely unchanged on Tuesday, while US equity futures pointed to a slightly weaker open. Investors remain focused on stretched AI valuations and signs of stress among American consumers.