Banking Services
Cyprus MPs study bailout 'Plan B' as meltdown looms
Mar 22, 2013 04:39 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
Cyprus launches banking overhaul as meltdown looms
Mar 21, 2013 23:17 EDT
Cyprus is scrambling to overhaul its banking sector to avoid financial meltdown, after the European Central Bank threatened to pull the plug on emergency funding for the island's lenders.
S&P cuts Cyprus rating as banking meltdown looms
Mar 21, 2013 17:27 EDT
Ratings firm Standard & Poor's dealt a further blow to reeling Cyprus Thursday, cutting its credit rating as the eurozone country struggles to avoid a banking sector meltdown.
US stocks drop on Cyprus, weak earnings
Mar 21, 2013 16:54 EDT
US stocks fell Thursday, hit by uncertainty over the Cyprus banking crisis and some surprisingly weak corporate earnings.
S&P cuts Cyprus rating one notch to 'CCC'
Mar 21, 2013 16:24 EDT
Ratings firm Standard & Poor's cut troubled Cyprus' sovereign credit rating by one notch on Thursday citing "acute problems" in Cyprus's banking sector.
Overhaul of Cyprus banks on cards as meltdown looms
Mar 21, 2013 14:24 EDT
Cyprus Thursday was examining an overhaul of its banking sector to avoid financial meltdown after the European Central Bank threatened to pull the plug on emergency funding for the island's banks.
Official clears Indian banks of money-laundering
Mar 21, 2013 13:31 EDT
A senior Indian central bank official cleared three private banks of money-laundering on Thursday after an undercover media investigation led to the suspension of dozens of their employees.
European stocks retreat on disappointing data, Cyprus
Mar 21, 2013 13:17 EDT
European stock markets slid Thursday as disappointing eurozone data and the Cyprus bailout impasse overshadowed strong Chinese economic performance.
Closure fears spark run on Cyprus Popular Bank
Mar 21, 2013 12:55 EDT
Anxious Cypriots queued outside Popular Bank ATM machines on Thursday to withdraw their cash as fears rose that the country's banking meltdown will mean its second largest bank closes for good.
China manufacturing 'improves in March'
Mar 20, 2013 23:05 EDT
Manufacturing activity in China improved in March after expanding at its slowest pace in four months in February, HSBC said on Thursday, lifting hopes for a pick-up in the world's number two economy.
Cyprus shuts banks in scramble to secure bailout
Mar 20, 2013 16:11 EDT
Cyprus ordered banks to stay shut for another five days as ministers scrambled Wednesday to draw up a Plan B aimed at securing a bailout after parliament rejected a controversial tax on savings.
Cyprus shuts banks till next week, rushes to secure bailout
Mar 20, 2013 14:52 EDT
Cyprus on Tuesday ordered banks to stay shut for another five days as ministers scrambled to draw up a Plan B aimed at securing a bailout after parliament rejected a controversial tax on savings.
Cyprus hammers out Plan B after MPs snub bailout deal
Mar 20, 2013 13:48 EDT
Debt-hit Cyprus scrambled on Wednesday to draw up a Plan B to secure an EU bailout after MPs rejected an unprecedented bank deposit levy, while also seeking to limit the amount of money leaving the island.
European equities stage rebound
Mar 20, 2013 13:27 EDT
Most European stock markets rebounded on Wednesday following two days of losses caused by Cyprus' bailout drama.
London shares fall
Mar 20, 2013 13:21 EDT
London shares closed lower on Wednesday as the government announced its intention to stick firmly to a barrage of austerity measures while unveiling the budget.
Freddie Mac sues big banks over Libor rigging
Mar 20, 2013 13:00 EDT
US government-controlled mortgage giant Freddie Mac has sued more than a dozen of the world's biggest banks over losses from the alleged rigging of the Libor interest rate.
Cyprus scrambles to find cash after MPs snub bailout
Mar 20, 2013 08:55 EDT
Debt-hit Cyprus was scrambling Wednesday to secure funding for its banks after lawmakers rejected the terms of an EU bailout deal, soliciting Russia, the church and state institutions for cash.
Deutsche Bank restates 2012 profit, hit by legal costs
Mar 20, 2013 07:13 EDT
Deutsche Bank, Germany's biggest bank, said Wednesday that writedowns and legal costs hit its 2012 earnings harder than expected and it has now been forced to restate last year's profits.
Deutsche Bank restates 2012 earnings on legal costs
Mar 20, 2013 05:18 EDT
Deutsche Bank, Germany's biggest bank, said Wednesday that writedowns and litigations costs hit its 2012 earnings harder than expected and it has now been forced to restate last year's profits.
European stocks slide as Cyprus bailout teeters
Mar 19, 2013 13:19 EDT
Europe's main stock markets suffered further losses and the euro slid on Tuesday as Cyprus' international bailout appeared close to unravelling.
