World news about “Banking” published by euronews.
Gloomy outlook from UBS Swiss bank UBS says a restructuring of its investment banking business had failed to give it the improvements hoped for. That division have been hit by the… 07/02/2012
Debt crisis slams Deutsche Bank earnings Not a good day for Deutsche Bank as it posted a big quarterly loss and was the target of anti-capitalism protestors at its headquarters who strung up a banner… 02/02/2012
RBS ex-boss loses his knighthood Former Royal Bank of Scotland chief Fred Goodwin had been stripped of his Knighthood. Goodwin was responsible for steering the bank close to collapse, and… 01/02/2012
Spanish property bubble hits Santander profits Santander has reported a sharp drop in profit as it sets aside 3.2 billion euros to cover foreclosed Spanish property. Fourth quarter profit at the… 31/01/2012
Head of nationalised UK bank RBS declines his bonus Following public and political outcry in the UK over the weekend, Royal Bank of Scotland boss Stephen Hester has decided not to accept a bonus of almost one… 30/01/2012
Opposite actions when it comes to payouts at UK bank RBS Chairman of the UK’s Royal Bank of Scotland Sir Philip Hampton has turned down a payment worth more than 1.6 million euros, apparently describing it as… 29/01/2012
Greece rejects German plan for EU ‘budget control’ Greek officials have rejected out of hand a German idea for Athens to cede control over its budget policy to a special eurozone commissioner. It comes as… 29/01/2012
Anger over bonus for head of nationalised RBS in UK There has been widespread fury in the UK over a bonus of more than £950,000 paid to the boss of the bailed-out Royal Bank of Scotland. Stephen Hester’s… 28/01/2012
Greece in last chance debt talks In a race against the clock, talks resumed on Thursday between Greece and its debtors. They are haggling over how much of a loss those investors are… 26/01/2012
France easily sells bonds as Sarkozy attacks S&P It was almost like Standard and Poor’s stripping France of its AAA credit rating never happened as on Thursday, in its first auction of medium-term government… 19/01/2012
Close up: ECB bids to ease bank stress The European Central Bank may have been slammed for failing to act as a lender of last resort to the eurozone’s crippled economies - but when it comes to… 16/01/2012
SNB makes profit on forex and gold The Swiss National Bank has said it expects to have made a profit for 2011 thanks to gains from its foreign currency positions and a rise in the value of its… 13/01/2012
Grim day for UK bank workers Royal Bank of Scotland is to cut 3,500 jobs in its investment banking section and sell or close divisions dealing with shares and mergers and… 12/01/2012
Swiss central bank chief quits over wife’s forex deal The head of the Swiss National Bank, Philipp Hildebrand, has resigned because of a controversial foreign currency trade made by his wife. He said he was… 09/01/2012
Swiss central bank head stands firm The chairman of the Swiss central bank has said he will not quit. A defiant Philipp Hildebrand told reporters he saw no reason to resign over a… 05/01/2012
Hungary defiant in central bank dispute Hungary has defied objections from the International Monetary Fund and the European Union and the parliament has adopted a new law regulating the country’s… 30/12/2011
A year of crisis summits, but little progress For Europe’s politicians, the task of 2011 was to save the euro and the way chosen to do that was to hold summits. The region’s politicians convened a total… 28/12/2011
BNP joins Sberbank in consumer credit joint venture French bank BNP Paribas is to keep a toe in the water in Russia with a joint consumer lending venture with state-backed Sberbank. Previously BNP had said it… 28/12/2011
Russia cuts refinancing rate Russia has cut its benchmark refinancing rate unexpectedly from 8.25 percent to eight percent. The new rate comes into effect on December 26 said a… 23/12/2011
Europe banks take advantage of ECB cheap loans The European Central Bank put nearly half a trillion euros on offer, and euro zone banks fell over themselves to grab as much of the cheap finance as… 21/12/2011
Hungary hikes interest rates again Hungary’s central bank put up interest rates again on Tuesday, saying it has to do that to support the currency, the florint, and prevent inflation… 20/12/2011
Eurozone fears prompt Swedish rate cut The eurozone’s problems have caused Sweden to cut its main interest rate by a quarter of a percent to one and a quarter percent. The central bank said it… 20/12/2011
Dexia private bank sold to Qatar and Luxembourg Qatar’s royal family is to buy 90 percent of bailed-out Dexia’s private banking arm as the Franco-Belgian group is broken up. The rest will be purchased by… 20/12/2011
Fitch downgrades top banks The rating agency Fitch has downgraded a total of seven major banks on both sides of the Atlantic. In Europe the effected lenders are BNP Paribas, Deutsche… 16/12/2011
Credit Agricole to cut jobs, warns on profit Credit Agricole is to cut 2,350 jobs, mostly at its investment banking division. The French bank also said it will not pay a dividend to shareholders this… 14/12/2011
Money: The root of the EU’s evils Standard and Poor’s have caused an uproar in Europe this week after reviewing 15 of the 17 eurozone countries with a negative outlook. Even triple AAA rated… 09/12/2011
Moody’s downgrades three French banks Moody’s has downgraded the debt of BNP Paribas, Societe Generale, and Credit Agricole. The ratings agency said that reflects the increasing difficulties the… 09/12/2011
Citi begins more layoffs Citigroup has started a round of layoffs among its London-based investment bankers as it cuts 4,500 workers worldwide. Two percent of its workforce is… 07/12/2011
Dexia gets new financing lifeline Crisis-hit Franco-Belgian bank Dexia is getting temporary financing guarantees from Belgium, France and Luxembourg. That will enable it to keep running… 05/12/2011
HSBC fined for mis-selling to elderly Britain’s financial regulator has fined HSBC a record 12.2 million euros for mis-selling investment plans to elderly customers. The products were intended… 05/12/2011
Central banks ride to the rescue The world’s main central banks have joined forces to counter the effects of the eurozone crisis on the world economy. The banks of the US, eurozone, Japan… 30/11/2011
S&P cuts US and Europeans bank ratings Standard and Poors has cut its crediting rating for 15 big banks, mainly in Europe and the United States. The downgrade is a result of an overhaul of its… 30/11/2011
France says “no change” to Dexia rescue plan Doubts over the Dexia rescue plan in Belgium have stretched falls in Belgian and French government bonds into a third straight day. The run was fuelled by a… 23/11/2011
ABN Amro profits hit by Greek crisis Nationalised ABN Amro’s hopes of a return to the private sector have been dealt a blow by a profit plunge linked to Greece’s debt problems. The bank, which… 18/11/2011
US banks ‘at risk from euro crisis’ The fallout from Europe’s debt crisis is touching the US banking sector with ratings agency Fitch warning of a serious risk of contagion. Its said: “unless… 17/11/2011
British government sells Northern Rock to Virgin The British government has agreed to sell Northern Rock, the failed mortgage lender it nationalised in 2008. It’s being bought by Virgin Money, the banking… 17/11/2011
Government Sachs Europe branch? Critics in Europe are very uneasy about the new Italian ECB chief, the Greek premier and the prime minister-designate of Italy’s past or present relations… 15/11/2011
Greek losses drag SocGen profit down Societe Generale has posted a slump in quarterly profits; it was hit by charges including losses on money it has loaned to Greece. France’s second-biggest… 08/11/2011
Troika checks Portugal for more bailout cash The so-called Troika of representatives from the European Commission, the European Central Bank and the International Monetary Fund is back in Lisbon to check… 07/11/2011
‘Too big to fail’ banks named At the Cannes summit of the world’s leading economies, 29 banks have been named as being so important to the global financial system that they are likely to… 04/11/2011
Earnings fall at BNP-Paribas Earnings at BNP Paribas fell 72% in the third quarter after the French bank took a bigger-than-expected hit of two billion euros on Greek debt. The sum… 03/11/2011
Credit Suisse shrinks investment bank, cuts jobs Credit Suisse plans to cut another 1,500 jobs and scale back its loss-making investment banking business as it announced disappointing third-quarter… 01/11/2011
Interest rates cut down under Australia’s central bank has cut the cost of borrowing there for the first time since the global financial crisis more than two years ago. As expected the… 01/11/2011
Barclays’ profit up, bad loans down Good news from Barclays which saw its third quarter profit rise by five percent. There were gains in retail banking and from its credit card division while… 31/10/2011
Frankfurt: Demo against inequality – nocomment Thousands of demonstrators march through Frankfurt’s financial district as part of the Occupy Frankfurt protests against social inequality and banking greed. 30/10/2011
Red faces in Berlin over massive banking error The German government is under pressure to explain a massive accounting error at a struggling bank nationalised in 2009. The discovery of the mistake means… 29/10/2011
After the summit: Is the crisis under control? The past week’s top story was by far the marathon EU summit that finally produced an agreement to tackle the debt crisis that has been rattling the continent… 28/10/2011
Euro crisis: what now for the region’s economy? Europe’s leaders may have stopped the rot for now but the financial crisis is far from over and the region’s banks are still staring into a deep black hole… 27/10/2011
Firm help for small companies Rafael from Poland: I just want to ask how the European Union is going to help small companies to grow in the united market and survive the… 27/10/2011
Warnings from two of Europe’s top banks Switzerland’s UBS has said tough trading conditions are set to continue while Deutsche Bank is flagging up more possible job cuts. The biggest German… 25/10/2011
Banks’ fortunes tied to summits In the run up to the euro zone summits on a solution to the debt crisis, the EU has agreed that around 100 billion euros is needed to boost the capital — that… 21/10/2011
Bank of Italy pick set to anger Sarkozy Rome’s choice as the new head of the Bank of Italy is almost certain to anger French President Nicolas Sarkozy. Deputy governor Ignazio Visco will replace… 21/10/2011
Alleged UBS rogue trader in court UBS trader Kweku Adoboli, who is accused of unauthorised trading which the Swiss bank says cost it 1.7 billion euros has appeared in court again. The… 20/10/2011
Dexia clears way for full dismantlement Bailed-out financial group Dexia has cleared the way for its full breakup. The board of directors has given final clearance for the nationalisation of its… 20/10/2011
Moody’s downgrades Spain’s regions Moody’s credit agency appears to have Spain in its sights. Only one day after delivering a sovereign downgrade to the country it has now cut the debt ratings… 20/10/2011
EU probes interbank lending rates The European Commission has raided a number of banks, including Deutsche Bank, in a probe into possible fixing of interbank lending rates — known as… 19/10/2011
Dexia in the doldrums as rescue is probed The European Commission is to investigate Belgium’s part of the nationalisation of Dexia. It will assess whether the four billion euros Belgium had paid as… 17/10/2011
Dexia deeper in the doldrums Dexia’s shares started the week with a big sell-off, slumping close to 10 percent. That was because of stock market uncertainty about how the Franco-Belgian… 17/10/2011
In theatres near you: ‘Saving Private Banks’ The banking sector is in the spotlight in this edition of Business Weekly. A growing number of European banks is threatened with downgrading by rating… 14/10/2011
UBS downgraded by Fitch, other banks on review Fitch has downgraded Swiss bank UBS and said it may do the same for several large and relatively highly rated European and US lenders including Barclays… 14/10/2011
Banks count the cost of Greek loans The size of the losses faced by banks that have lent money to Greece is set to rise and those banks are coming under increasing pressure to raise their… 13/10/2011
Barroso presents bank recapitalisation plan European Commission President Jose Manual Barroso has unveiled details of a bank recapitalisation plan to help cope with the euro zone’s debt crisis. “For… 12/10/2011
China buys top bank shares China is moving to support its stock market by buying shares of the country’s four biggest banks. The domestic arm of China’s sovereign wealth fund bought… 11/10/2011
Dexia – first of many? The fragility of Europe’s banks has been highlighted by the implosion of Franco-Belgian lender Dexia. It has had to be rescued by the French and Belgian… 10/10/2011
Dexia rescue hides black hole for Europe’s banks? Dexia Tower in Brussels has not come tumbling down, but it was a close run thing for the world’s number one lender to local authorities. A marathon… 10/10/2011
Indignation spreads, the ‘Six Pack’ is taken off ice, and Spain is slammed for fishy practices In this week’s edition of Europe Weekly finance ministers approve the so called ‘Six Pack’ and German Chancellor Angela Merkel admits a recapitalisation of… 07/10/2011
European banks on the brink The troubled European banking sector moved to the center of attention of the debt crisis this past week, as the French-Belgian Dexia group is on the brink of… 07/10/2011
More European bank downgrades In what is being seen as a warning to European governments to better support the region’s weakened banks, the debt rating agencies have slashed their ratings… 07/10/2011
Belgium anxious over Dexia bill division Belgium has told France that it is not willing to foot the whole bill for rescuing Dexia. That warning – from Belgian caretaker Prime Minister Yves Leterme… 06/10/2011
Dexia rescue underway As a rescue plan comes together for struggling Belgian-French bank Dexia, some worried depositors have been withdrawing their money and its customer helpline… 05/10/2011
Share prices boosted by positive news European share prices have bounced back on Wednesday after euro zone finance ministers agreed to safeguard banks from the spreading sovereign debt crisis and… 05/10/2011
Deja vu for Europe’s banks As happened in 2008 a frisson of fear is passing through Europe’s lending community that some may not be able to survive the latest crisis. Top of the list… 04/10/2011
Deutsche Bank scraps 2011 profit target Blaming Europe’s sovereign debt crisis, Deutsche Bank has said it will not make its target of 10 billion euros in profit before tax this year. “The… 04/10/2011
European markets at close: 03.10.11 03/10/2011
Dexia dragged down by Greek debt worries The French and Belgian government will do the right thing to support bank Dexia in the current turbulent markets. So said the Belgian Finance Minister Didier… 03/10/2011
Fight reported over Draghi’s successor A political row is emerging over replacing Mario Draghi as head of the Bank of Italy. Draghi moves to the top job at the European Central Bank in just over… 29/09/2011
European banks brace for Greek default Greece’s debt problems continue to dominate dealing on the world’s financial markets. Europe’s bourses made big gains on Monday, but investors are… 26/09/2011
European markets at close: 26.09.11 26/09/2011
Investors welcome new UBS CEO UBS investors have welcomed the Swiss bank’s choice of caretaker chief executive, Sergio Ermotti. Its shares rose after Oswald Gruebel quit to take the… 26/09/2011
Euro storm blows cold wind through Switzerland For Switzerland, it is tough being so popular especially when investors see this small country and its currency as a refuge from the growing euro zone… 24/09/2011
BNP denies Qatar investment talks BNP Paribas has denied reports that it is in talks about selling a stake to the Gulf state of Qatar. Chief Executive Officer Baudoin Prot told French… 22/09/2011
IMF warns on European banks’ vulnerability The International Monetary Fund is warning the euro zone debt crisis has left the region’s banks vulnerable and they will need to urgently raise around 300… 21/09/2011
Disasters slam Lloyd’s of London’s profits Lloyd’s of London’s profits have been swallowed up and washed away by an unprecedented series of natural disasters. The insurance market’s first-half loss… 21/09/2011
Europe’s banks need better monitoring, report saysThe financial sector’s biggest beasts are once again in the spotlight, amid fears many could go under if Greece were to default. Now a new report by a… 20/09/2011
UBS boss wants investment bank overhaul In the aftermath of a rogue trader allegedly losing UBS 1.7 billion euros, the Swiss bank’s Chief Executive, Oswald Gruebel, will ask its board to back plans… 20/09/2011
Europe Weekly: Europe’s debt woes take ugly turn In this week’s Europe Weekly we look at the on-going debt and banking crisis as well as calls in the European Parliament to protect workers rights. We… 16/09/2011
UBS investment bank faces uncertain future Has the final nail been driven into the coffin of the investment arm of Swiss Bank UBS following its 1.4 billion euro rogue trading loss? How will private… 16/09/2011
Are credit rating agencies too powerful? Credit rating agencies too powerful? Victor, from Fontainebleau, France: “How did credit rating agencies manage to acquire such power over the European… 16/09/2011
European shares turn positive Shares rose after the head of the European Commission Jose Manuel Barroso said it would soon present options for the introduction of euro area bonds. His… 14/09/2011
Financial crisis in Europe flares up again The financial tremors from Greece and the prospect of a default on the country’s debt have shaken Europe, aided by comments from German politicians suggesting… 12/09/2011
ECB’s Stark quits revealing rifts European Central Bank Executive Board member Juergen Stark is quitting his post. According to the bank ,the German policymaker is stepping down for… 09/09/2011
ECB signals rates on hold as euro zone economy weakens With economic growth in the euro zone weakening , the European Central Bank has signalled that it has stopped putting up interest rates — for now — to try to… 08/09/2011
Recession fears keep euro zone rates on hold With economic growth in the euro zone forecast to weaken the European Central Bank has changed tack on interest rates. Having previously raised rates to… 08/09/2011
Deutsche Bank boss warns crisis could kill weak banks Europe’s sovereign debt crisis will cut bank’s profits for years and could even kill off some of the weakest ones. That warning has come from the head of… 05/09/2011
Swiss banks want US tax row deal The head of the Swiss Bankers Association has said his country must solve a dispute with the United States over wealthy citizens using secret Swiss accounts… 05/09/2011
US housing agency to sue banks The US federal agency that oversees mortgage lending is set to sue more than a dozen big banks for allegedly misrepresenting the products they sold during the… 02/09/2011
Sluggish demand for Spanish bonds Spain’s latest attempt to sell government bonds met a lukewarm reception from investors. As a result, at its first bond auction in a month, Madrid had to… 01/09/2011
Italy under pressure from weak bond sale demand Italy has returned to the bond markets, but there was relatively weak demand for the 7.7 billion euros worth of bonds it sold. That was despite the… 30/08/2011
Big Greek bank merger announced The boards of Greece’s EFG Eurobank and Alpha Bank have approved a merger deal reportedly with a 500 million euro injection of capital by the Qatar Investment… 29/08/2011
UBS slashes more jobs in cost-cutting effort Preparing for tough times ahead UBS has said its cutting 3,500 jobs. Switzerland’s biggest bank wants to reduce annual spending by 1.75 billion euros. … 23/08/2011
