LONDON (Reuters) – The Bank of England stuck to its current policy of government bond purchases on Thursday, as Britain is creeping out of recession and hopes are running high for a sweeping move by the European Central Bank to ease the euro zone crisis. Atten... More »
FRANKFURT (Reuters) – European policymakers warned bankers on Tuesday to expect tougher regulation after a series of scandals had demonstrated the industry was incapable of policing itself. Nearly four years after bank dealings in subprime mortgages caused a g... More »
(Reuters) – Benjamin Lawsky’s surprise move against Standard Chartered in an Iran sanctions case may have stunned the banking world, but it is unlikely to expand the scope of a series of similar U.S. cases against European banks that are still in the pipeline.... More »
BERLIN (Reuters) – German Finance Minister Wolfgang Schaeuble rejected on Monday a European Commission plan to give the European Central Bank sweeping powers to monitor all euro zone banks, saying it should instead focus only on systemically important institut... More »
ALPBACH, Austria (Reuters) – ECB Governing Council member Ewald Nowotny called on Friday for ideological differences over whether the European Central Bank should buy bonds to be put aside given the uncertain state of the euro zone economy. He said, however, t... More »
TOKYO (Reuters) – Japan’s industrial output unexpectedly fell as factories cut output to key Chinese and European markets while a leading indicator for manufacturing hovered at its lowest in 16 months, in a sign that the economy could contract in the third qua... More »
LONDON (Reuters) – Investors have put their faith in the European Central Bank’s ability to get on top of the euro zone debt crisis and even if detailed plans take longer to materialize than expected, the momentum in financial markets may prevent an immediate ... More »
MADRID (Reuters) – The Spanish government and European Union officials are in agreement on the general terms for creating a bad bank to hold toxic real estate assets, Economy Minister Luis de Guindos said on Wednesday. Speaking to reporters ahead of a meeting ... More »
BERLIN (Reuters) – Germany’s Angela Merkel makes her second trip to China in half a year this week, hoping to strengthen booming trade ties and obtain assurances from Beijing that it will support the fragile euro zone by buying the bonds of its stricken southe... More »
(Reuters) – Tribune Co creditors won a stay Wednesday of last month’s order confirming the company’s plan to exit bankruptcy, so long as they pay a $1.5 billion bond. U.S. Bankruptcy Judge Kevin Carey in Wilmington, Delaware gave the creditors until August 29 ... More »
NEW YORK (Reuters) – Oil prices slipped on Monday in choppy trading as investors worried about the European Central Bank’s ability to address the euro zone debt crisis, while tight North Sea supplies and Middle East turmoil limited losses. Crude futures pared ... More »
NEW YORK (Reuters) – Global shares and the euro closed almost flat on Monday after the European Central Bank sought to squash speculation about a form of market intervention to contain the euro zone debt crisis, damping recent investor enthusiasm for risk. Oil... More »
VIENNA/HELSINKI (Reuters) – Smaller euro zone countries that have retained top credit ratings through the region’s crisis squabbled on Friday over whether struggling nations like Greece that threaten the currency union’s stability should be kicked out. Top Aus... More »
BERLIN/ATHENS (Reuters) – After a brief summer lull, euro zone leaders are gearing up for a round of shuttle diplomacy in the run-up to what could be a crucial month in the 2-1/2-year debt crisis. Greek Prime Minister Antonis Samaras will fly next week to meet... More »
BEIJING (Reuters) – Chinese data dealt policymakers fresh blows on Friday as trade and new bank lending suggested pro-growth policies have been slow to gain traction and more urgent action may be needed to stabilize the economy. Figures on Friday showing July ... More »
ROME (Reuters) – Italian Prime Minister Mario Monti has taken the gloves off in his fight to save Italy from disaster in the euro zone debt crisis, daring to stand up to European paymaster Germany in a way unthinkable a few months back. His change of attitude ... More »
LONDON (Reuters) – The Bank of England slashed its outlook for British economic growth to zero for this year, as euro zone “storm clouds” cast a long shadow and scars from the world’s financial crisis appear deeper than previously thought. Governor Mervyn King... More »
BERLIN (Reuters) – German Foreign Minister Guido Westerwelle on Monday warned politicians to rein in the language they use about the euro zone debt crisis after a weekend of ugly exchanges in the German press over Italy and Greece. Italian Prime Minister Mario... More »
LONDON (Reuters) – Royal Dutch Shell (RDSa.L ) is pulling some of its funds out of European banks over fears stirred by the euro zone’s mounting debt crisis, The Times reported on Monday. The company’s chief financial officer Simon Henry told the newspaper tha... More »
BERLIN (Reuters) – Italy needs moral support from Germany but not its cash, Prime Minister Mario Monti said in an interview published on Sunday as German conservatives renewed calls for Greece to leave the euro zone. The Italian leader also told weekly magazin... More »
ATHENS (Reuters) – Greece is leaning towards issuing T-bills to plug a cash squeeze this month as resumption of its bailout funding hinges on a positive assessment by European Union and IMF inspectors, its deputy finance minister told Sunday’s Kathimerini news... More »
MOSCOW (Reuters) – Banker and media magnate Alexander Lebedev said on Thursday he could sell his business assets in Russia after coming under pressure from the Kremlin, adding he feared he might be jailed in a criminal case he regards as politically motivated.... More »
LONDON (Reuters) – European banks should face penalties if they loan cash for share issues by other banks, national regulators from across Europe told Reuters. This comes after a Greek bank was found to have raised money from offshore companies financed by oth... More »
FRANKFURT/BERLIN (Reuters) – The United States raised the pressure on euro zone leaders to take decisive action on solving the region’s debt crisis, notably by lowering troubled members’ borrowing costs, on the eve of a crucial European Central Bank meeting. P... More »
BERLIN (Reuters) – More than half of Germans are pessimistic about the economy but support for Chancellor Angela Merkel’s conservatives is holding firm, thanks partly to their tough stance on the euro zone, according to an opinion poll published on Wednesday. ... More »
JAKARTA (Reuters) – Discord in Southeast Asia over how to deal with Beijing’s claims in the South China Sea comes as the region struggles to overcome competing national interests and form a European Union-style economic community by 2015. Political leaders and... More »
FRANKFURT (Reuters) – Deutsche Bank’s (DBKGn.DE ) new co-chief executive Anshu Jain is to cut 1,500 jobs at the group’s investment bank, which he helped build, as part of a drive to save 3 billion euros ($3.69 billion) after a profit slump due to the euro zone... More »
(Reuters) – New details from court documents and sources close to the Libor scandal investigation suggest that groups of traders working at three major European banks were heavily involved in rigging global benchmark interest rates. Some of those traders, incl... More »
LONDON (Reuters) – Some European banks are ordering their brokers to rein in and even quit trading some derivatives with U.S.-based peers in a protest against tough new American rules. The Dodd-Frank regulations, which come into force in early 2013, will subje... More »
NEW YORK/LONDON (Reuters) – The struggles of the U.S. and euro zone economies continued in July, business surveys showed on Tuesday, though improved Chinese factory output suggested stimulus measures may be starting to boost the world’s second-largest economy.... More »
BRUSSELS (Reuters) – U.S. network equipment maker Cisco (CSCO.O ) won unconditional EU regulatory approval on Tuesday for its $5 billion takeover of TV software developer NDS, its largest ever, which will reinforce its presence in the video communications mark... More »
PARIS (Reuters) – The euro zone is not in danger of breaking up despite some analysts’ worse case scenarios, European Central Bank President Mario Draghi said, judging that the bloc was inevitably marching towards closer union among its members. Asked in an in... More »
MEXICO CITY (Reuters) – Cutting the deposit rate the European Central Bank offers lenders in the euro zone below zero is an option, ECB Executive Board Member Benoit Coeure said on Friday. The ECB cut its main interest rate early this month by a quarter percen... More »
WASHINGTON (Reuters) – A veteran economist at the International Monetary Fund has accused the global lender of suppressing information on difficulties in dealing with the global financial meltdown and euro zone crisis. In a resignation letter to the IMF’s boar... More »
(Reuters) – NBC may not turn a profit this year from the London Olympics but expects to make money on the four future Olympic games it also purchased broadcast rights to, the top executive at NBCUniversal said on Wednesday. About a year ago, NBCUniversal, a un... More »
LONDON (Reuters) – Struggling British entertainment retailer HMV forecast a worse than expected loss for the 2011/12 year, blaming a weak new release schedule in CDs and DVDs in its final quarter. But the 91-year-old retailer also said on Friday it was confide... More »
(Reuters) – Viacom Inc posted a higher-than-expected profit on Thursday, boosted by an increase in revenue from cable network fees and digital licensing of its TV shows and movies, and its shares rose nearly 5 percent. The parent of MTV and Comedy Channel bene... More »
LOS ANGELES (Reuters) – Video rental company Netflix Inc projected slower subscriber growth this quarter for its key U.S. video-streaming service, disappointing investors and sending its shares down 17 percent after hours. While Netflix reported a first-quarte... More »
(Reuters) – Astral Media Inc’s second-quarter profit rose 10 percent, helped by steady but uninspiring growth in television revenue. Astral, in the process of being acquired by Canada’s largest telecom company BCE Inc for C$3 billion, said it made a consolidat... More »
SHANGHAI (Reuters) – The operator of the planned Shanghai Disney theme park has secured a 12.9 billion yuan ($2 billion) syndicated loan for the construction of the park, Chinese media reported on Wednesday, a boost for Walt Disney Co as it embarks on a newly ... More »
(Reuters) – Former Thomson Reuters Chief Executive Tom Glocer will walk away with almost $20 million in compensation, including $3.1 million in severance to be paid over two years, according to a regulatory filing. Glocer stepped down as CEO at the end of 2011... More »
