Name: Spanish banker BBVA to exit U.S. market, sell holdings to PNC
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Spanish banker BBVA to exit U.S. market, sell holdings to PNC

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Illustration: Sarah Grillo/AxiosSpanish banking giant BBVA has decided to exit the U.S. market. It remains the owner of BBVA Bancomer, the largest bank in Mexico.Why it matters: In the 2000s, BBVA went on something of a spending spree in Texas and other border states, buying up a series of banks culminating in the $9.6 billion of Compass Bancshares in 2007. Among the casualties of BBVA's strategic retreat from the U.S.: Tuyyo, an innovative mobile app that allowed Mexicans in the U.S. to send money back to their families for free. The bottom line: The net flow of migrants from Mexico to the U.S. — part of the reason for BBVA to expand from Mexico to Texas — turned negative about 15 years ago, and has remained that way ever since.A judge in Pennsylvania on Saturdaythat sought to invalidate millions of votes and of President-elect Joe Biden's victory in the state. Why it matters: The ruling is another blow to President Trump and his campaign as they seek to discredit election tallies in Pennsylvania and other key swing states, citing baseless and unproven claims of widespread voter fraud. Counties in Pennsylvania must certify their election totals and send them to secretary of the commonwealth by Monday. Vaccines: Pfizer for vaccine.Health: U.S. COVID-19 cases — — Americans ahead of Thanksgiving. Travel: — Over , despite calls to avoid holiday travel.Education: .Politics: Ben Carson says with the coronavirus — .World: Europe's after restrictions — Canada's Trudeau: The U.S. surpassed 12 million coronavirus cases on Saturday, per from Johns Hopkins University, the new cases in less than a week. Why it matters: The grim milestone comes as the U.S. prepares for the , when millions of people, , planning to travel and gather with family and friends.

Illustration: Sarah Grillo/AxiosSpanish banking giant BBVA has decided to exit the U.S. market. It remains the owner of BBVA Bancomer, the largest bank in Mexico.Why it matters: In the 2000s, BBVA went on something of a spending spree in Texas and other border states, buying up a series of banks culminating in the $9.6 billion of Compass Bancshares in 2007. Among the casualties of BBVA's strategic retreat from the U.S.: Tuyyo, an innovative mobile app that allowed Mexicans in the U.S. to send money back to their families for free. The bottom line: The net flow of migrants from Mexico to the...

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Spanish banker BBVA to exit U.S. market, sell holdings to PNC

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