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Congress Bailouts

  • ROME/ MILAN, April 29- Italians are watching their flag carrier Alitalia go into yet another financial tailspin, and a growing number of them believe it would be better for the country if it crashed. It's a dead weight, " Angelino Ghinelli tweeted into a social media storm that has not gone unnoticed in Rome, where ministers have so far shown a strong reluctance to make...

  • ROME/ MILAN, April 29- Italians are watching their flag carrier Alitalia go into yet another financial tailspin, and a growing number of them believe it would be better for the country if it crashed. It's a dead weight, " Angelino Ghinelli tweeted into a social media storm that has not gone unnoticed in Rome, where ministers have so far shown a strong reluctance to make...

  • ATHENS, Greece— Greece and its bailout creditors are closing in on a deal to restart rescue loan payouts, senior officials from the two sides said Thursday, a compromise that is likely to prolong years of hardship for many Greeks. Bailout inspectors from International Monetary Fund and European Union institutions return to Athens this week to finalize the...

  • ATHENS, Greece— Greek Prime Minister Alexis Tsipras says his government is aiming to return to international bond markets this year after the current round of bailout negotiations is concluded. Bailout inspectors from the International Monetary Fund and European Union institutions returned to Athens this week to try to hammer out an agreement in late May...

  • ATHENS, Greece— Representatives of Greece's bailout creditors are due in Athens to restart talks on further cutbacks, European officials said Monday, as they confirmed that the country last year far exceeded its budget targets. And the country's privatization agency announced Monday that a consortium led by private German investor Deutsche Invest Equity...

  • LONDON— U.K. Treasury chief Philip Hammond says taxpayers have recovered all of the funds Britain injected into Lloyds Banking Group at the height of the 2008 financial crisis. Hammond said Friday in Washington that it had passed the milestone, recovering all 20.3 billion pounds injected. By contrast, Royal Bank of Scotland— the other major institution bailed...

  • LONDON, April 21- Taxpayers have recouped all of the 20.3 billion pounds invested in the bailout of Lloyds Banking Group during the 2008 financial crisis, British finance minister Philip Hammond said on Friday. The government has received 20.4 billion pounds from share sales and dividends since it began selling its stake in 2013, Hammond said in a speech...

  • *Greece swings to general government surplus in 2016, after 21 years. ATHENS, April 21- Greece far exceeded its international lenders' budget demands last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included. This was calculated under European System of Accounts guidelines, which...

  • *Greece swings to general government surplus in 2016, after 21 years. ATHENS, April 21- Greece far exceeded its international lenders' demands for a budget surplus last year, official data showed on Friday, posting its first overall budget surplus in 21 years even when debt repayments are included. This was calculated under European System of Accounts...

  • *Greece swings to general government surplus in 2016. ATHENS, April 21- Greece far exceeded its international lenders' demands for budget savings last year, official data showed on Friday, outstripping even 2017' s target and presenting a strong case for unlocking more bailout funds. The IMF, which has reservations on whether Greece can meet high primary surplus...

  • ATHENS, Greece— Greece has beaten a key bailout target for its public finances, but will still face some painful choices as it tries to negotiate with creditors how much more budget austerity it should impose on its people in coming years. Greece's independent statistics agency said Friday that the country has posted a high primary budget surplus— that is,...

  • ATHENS, April 20- The International Monetary Fund may finance Greece's current bailout programme with a small amount for one year, the country's government spokesman said on Thursday, adding that the issue was under discussion between Athens and its creditors. The fund's participation is seen as a condition for Germany to unlock new funds to Greece.

  • SEOUL, April 18- South Korea's Daewoo Shipbuilding& Marine Engineering Co Ltd has won near unanimous agreement from bondholders to swap their debt for equity, meeting a condition that unlocks a $2.6 billion bank bailout for the world's biggest shipbuilder. "We will normalise the company as soon as possible through bone-grinding effort, so you can come to think...

  • SEOUL, April 17- South Korea's Daewoo Shipbuilding& Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first three of five bondholder meetings, as the world's largest shipbuilder battles to stay afloat. That move made it likely other bondholders would follow suit, creditor bank officials said, allowing the...

  • SEOUL, April 17- South Korea's Daewoo Shipbuilding& Marine Engineering Co Ltd on Monday won near unanimous approval for a debt-to-equity swap plan in the first two of five bondholder meetings, as the world's largest shipbuilder battles to stay afloat. That move made it likely other bondholders would follow suit, creditor bank officials said, allowing the...

  • SEOUL, April 17- A South Korean pension fund on Monday accepted a debt-to-equity swap proposal for bondholders of troubled Daewoo Shipbuilding& Marine Engineering, greenlighting the country's latest plan to bail out the world's largest shipbuilder. The South Korean government suggested in March that bondholders, which hold about 1.5 trillion won of Daewoo...

  • SEOUL, April 17- A South Korean pension fund on Monday accepted a debt-to-equity swap proposal for bondholders of troubled Daewoo Shipbuilding& Marine Engineering, greenlighting the country's latest plan to bail out the world's largest shipbuilder. NPS is Daewoo's single-largest single bondholder, with about 390 billion won out of about 1.5 trillion won in...

  • BRUSSELS, April 12- International Monetary Fund chief Christine Lagarde said on Wednesday Greece was heading in the right direction on reforms, but talks on its bailout review and the IMF's potential role in it were "only halfway through." Last week, euro zone finance ministers agreed on the key elements of reforms that Greece needs to implement in exchange for a...

  • BRUSSELS, April 12- International Monetary Fund chief Christine Lagarde on Wednesday said Greece was heading in the right direction on reforms but talks on its bailout and the IMF's potential role in it were "only halfway through". Greece and its international lenders are negotiating reforms the country needs to carry out to maintain a sustainable growth path...

  • *Deal elusive as Greece, lenders remain at odds. ATHENS/ BRUSSELS, April 5- Greece and its international lenders remained at odds in talks to release fresh bailout loans to Athens on Wednesday as Prime Minister Alexis Tsipras said a deal was needed this week and accused creditors of' playing games' and causing delays. Talks between Greece, the European Union and...