Mar 16, 2013 12:10 EDT
Cyprus President Nicos Anastasiades said he will address the nation on Sunday to defend a controversial EU bailout deal which he admitted was "painful" but said would rescue the banking sector from collapse.
Mar 16, 2013 08:23 EDT
Eurozone finance ministers and the International Monetary Fund on Saturday agreed on a 10 billion-euro ($13 billion) bailout deal for Cyprus, the fifth eurozone member to be saved from bankruptcy.
Mar 15, 2013 13:58 EDT
US senators Friday blasted banking giant JPMorgan Chase over its mammoth trading losses on complex derivatives last year and called for tougher regulatory scrutiny of the banking industry.
Mar 15, 2013 13:22 EDT
London shares closed in the red on Friday in downbeat pre-weekend deals before the outcome of a major eurozone ministers meeting that seeks to agree a bailout for the Cyprus government.
Mar 15, 2013 11:37 EDT
The biggest Italian bank, UniCredit, posted on Friday a 2012 net profit of 865 million euros ($1.13 billion), as it bounced back from a loss of 9.2 billion euros one year earlier.
Mar 15, 2013 10:33 EDT
US senators Friday blasted banking giant JP Morgan over its mammoth trading losses on complex derivatives last year and called for tougher regulatory scrutiny of the banking industry.
Mar 14, 2013 18:06 EDT
The Federal Reserve on Thursday cited weaknesses in the capital programs of top banks Goldman Sachs and JPMorgan Chase, raising questions about their plans for dividends and share buybacks to reward investors.
Mar 14, 2013 16:51 EDT
The Federal Reserve on Thursday told Goldman Sachs and JPMorgan Chase to revise their capital plans within months to address weaknesses, as it signed off on the plans of 16 of 18 major banks.
Mar 14, 2013 13:11 EDT
The head of Swiss banking giant UBS, Sergio Ermotti, was handed more 8.9 million Swiss francs ($9.3 million, 7.2 million euros) in salary and bonuses in 2012, according to the bank's annual report published Thursday.
Mar 13, 2013 11:42 EDT
Commerzbank shares plunged Wednesday after Germany's second-largest bank said it would carry out a 2.5-billion-euro ($3.3-billion) capital hike to pay back state bailouts received during the 2008-2009 financial crisis.
Mar 13, 2013 07:30 EDT
Commerzbank, Germany's second-biggest bank, said Wednesday that it will undertake a 2.5-billion-euro ($3.3-billion) capital hike to repay further chunks of a state bailout it received during the 2008-2009 financial crisis.
Mar 12, 2013 13:47 EDT
Shares in London closed a little higher on Tuesday, drawing support from more positive Eurozone macroeconomic news.
Mar 12, 2013 11:13 EDT
Italy's second largest bank, Intesa Sanpaolo, on Tuesday reported a 2012 consolidated net profit of 1.61 billion euros ($2.09 billion), returning into the black after a previous net loss of 8.19 billion euros a year earlier when the results were heavily weighed down by one-time costs.
Mar 12, 2013 11:05 EDT
The "bad bank" set up to purge Spain's crisis-hit finance sector has begun operating and aims to sell off 1.5 billion euros' worth of toxic assets in 2013, the government said on Tuesday.
Mar 12, 2013 07:57 EDT
Britain's manufacturing output slumped by 1.5 percent in January compared with December, official data showed on Tuesday, dealing a fresh blow to the country's hopes of avoiding a fresh recession.
Mar 12, 2013 05:48 EDT
Swiss banking giant UBS said Tuesday it would nominate German stock market chief Reto Francioni to its board after the former head of Lufthansa, Wolfgang Mayrhuber, had opted not to stand for re-election.
Mar 11, 2013 17:12 EDT
Global oil prices were mixed Monday as supplies remained firm and industrial production in China showed signs of a slowdown, possibly signalling a weaker demand for energy, analysts said.
Mar 11, 2013 13:54 EDT
Britain's state-rescued Lloyds bank said on Monday that it would seek to sell 20 percent of its holding in investment manager St James's Place, as part of ongoing restructuring efforts.
Mar 11, 2013 13:48 EDT
Shares in London strengthened at the close on Monday, gaining ground in tandem with a rally on Wall Street, where investors continued to draw confidence from last week's positive US jobs data.
Mar 11, 2013 03:42 EDT
Chinese banks cut back lending in February from January, official data showed, due to a tightening of liquidity and fewer working days last month because of the Lunar New Year holiday.