Portuguese police arrest ex-PM Socrates in corruption investigation
Nov 22, 2014 at 21:30 | Source:
LISBON (Reuters) - Portuguese police have arrested former Socialist prime minister Jose Socrates and three other people in an investigation of suspected tax fraud, corruption and money-laundering, the Prosecutor General's office said on Saturday.It s...
Airbus profits rise but more A400M problems loom
Nov 21, 2014 at 14:56 | Source:
Aerospace group Airbus has posted a rise in profits for the first nine months of the year, but warned of more problems for its A400M military plane. Underlying earnings rose 12% to €2.59bn ($3.2bn; £2.1bn) for the nine-month period, with revenues ...
Carney takes aim at bankers' pay in wake of scandals
Nov 17, 2014 at 20:51 | Source:
Bank of England governor Mark Carney has said it is time to look at clawing back the overall pay of bankers in the event of wrong-doing. Speaking in Singapore, he said the claw-back should cover all pay, not just bonuses. Mr Carney also said more had...
Carney puts bankers' pay in spotlight after misconduct shockwaves
Nov 17, 2014 at 16:57 | Source:
In a speech in Singapore in the early hours of this morning, the Governor of the Bank of England has said it is time to look at clawing back the overall pay of bankers in the event of wrong-doing, not just the bonus element. In his first major interv...
'Too big to fail' bank rules unveiled by global regulators
Nov 10, 2014 at 16:22 | Source:
New global rules to prevent banks that are too big to fail from being bailed out by taxpayers have been proposed. The rules, created by the Financial Stability Board (FSB), a global regulator, will require big banks to hold much more money against lo...
Banks may be forced to boost reserves
Nov 01, 2014 at 12:17 | Source:
British banks may have to hold more funds to guard against the risk of a future economic downturn. The Bank of England wants to reduce the chances of banks needing taxpayer bailouts. The Bank said that the level of reserves compared to loans could ri...
Europe's crisis that won't go away
Oct 26, 2014 at 12:17 | Source:
Exactly five years ago Europe awoke to its own crisis. In October 2009 the incoming Greek government revealed that its budget deficit was not 6.7%, as publicly stated, but closer to 13%. The published accounts were as good as fakes. In the weeks and ...
Lloyds expected to cut 9,000 jobs
Oct 23, 2014 at 08:52 | Source:
Lloyds Banking Group is planning to cut around 9,000 jobs - around a tenth of its entire workforce - over the next three years, the BBC understands. The announcement is expected to come on Tuesday as part of chief executive Antonio Horta-Osorio'...
PSA Peugeot Citroen sales and revenues rise
Oct 22, 2014 at 16:57 | Source:
PSA Peugeot Citroen's turnaround plan appears to be making progress, with the troubled French carmaker announcing better sales and revenues. In the three months to end-September revenues rose 1.6% year-on-year, with sales up 5.4% to 644,000 vehi...
War heroes and activists to shape new-look Ukraine parliament
Oct 22, 2014 at 01:45 | Source:
KIEV (Reuters) - Out will go the bodyguards and mistresses, in are likely to come the street activists and war veterans: Ukraine's next parliament will be pro-Western and strongly nationalist, and it won't be to Russia's liking.Candidate lists for th...
Greek Bonds Lead Periphery Drop With German Yields at Record Low
Oct 18, 2014 at 18:00 | Source:
Greek government bonds declined, pushing yields up this week by the most in more than two years, after the country's push to exit its bailout revived memories of the worst of Europe's sovereign-debt crisis. German bunds rose with Trea...
ECB's divisions over help for Cyprus banking system
Oct 18, 2014 at 01:47 | Source:
It was late 2012 and early the following year that the Cypriot banking sector was on the brink. The whole eurozone was watching with anxiety. Given the high stakes it's entirely predictable that the strains should infect the conservative world o...
Samaras's Crumbling Greek Exit Lacks Backing From Economists
Oct 17, 2014 at 14:02 | Source:
By Marcus Bensasson and Andre Tartar. Oct. 17 (Bloomberg) – Antonis Samaras's plan for Greece to exit its bailout early is crumbling in the face of a market rejection. Economists say it might not have been such a good idea anyway. Eighty-fi...
Share prices slide as 'perfect storm' threatens markets
Oct 16, 2014 at 23:17 | Source:
US shares crept lower on Thursday, tracking big losses on European and Asian stock markets. Wall Street's Dow Jones, S P 500 and Nasdaq indexes declined but recovered some ground after falling almost 1% on continuing concerns about global econom...
Irish budget: Michael Noonan is to abolish 'Double Irish' tax structure
Oct 14, 2014 at 20:42 | Source:
The Irish finance minister has said he is abolishing the controversial Double Irish tax structure. It has allowed large multinational firms like Facebook to legally shift huge profits from Ireland to countries that are considered tax havens. Michael ...
Irish budget: Michael Noonan to reveal non-austerity budget
Oct 14, 2014 at 20:42 | Source:
Ireland's finance minister is due to deliver the country's first non-austerity budget in seven years. Tax rises and spending cuts of about 30bn euros (£23.7bn) been have imposed since 2007 in response to the country's financial crisis...
Mark Carney says bankers' behaviour needs to change
Oct 13, 2014 at 16:46 | Source:
Bankers' behaviour still needs to change following the financial crisis, Bank of England governor Mark Carney has warned. He said that top executives had got away without sanction . Maybe they were not at the best tables in society after that, b...
In Brussels, reasons to be cheerful
Oct 12, 2014 at 18:45 | Source:
BRUSSELS (Reuters) - Jean-Claude Juncker has come through his first big test as the European Union's chief executive with reasons to be cheerful, even if he faces another tricky couple of weeks to get a team in place that can take office next month.T...
Sausage, Greece's "protest dog", dies of heart attack
Oct 10, 2014 at 03:45 | Source:
ATHENS (Reuters) - Sausage, the ginger mongrel who became famous for appearing at anti-austerity protests and barking at riot police at the height of Greece's debt crisis, has died of a heart attack, local officials said on Thursday. The stray dog, c...
Ukraine Will Need More Bailout Funding, IMF's Lagarde Says
Oct 10, 2014 at 00:00 | Source:
Wall Street Journal
WASHINGTON—Ukraine will need additional bailout financing from outside the International Monetary Fund to keep the war-torn economy afloat, the head of the IMF said Thursday. The cost of the conflict with Russia-backed separatists has changed the&a...