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Congress Bailouts

  • BRUSSELS, Feb 10- Euro zone lenders and the International Monetary Fund have agreed to put aside differences and present a united front at a meeting with Greece in the latest bailout impasse, a step towards agreeing what Athens must do next. Euro zone officials said on Friday the lenders would ask Greece to take 1.8 billion euros' worth of new reforms by 2018 and...

  • *Schaeuble says Greece must get competitive or quit euro. BRUSSELS, Feb 9- Greece is optimistic its international lenders will next week approve reforms required under its bailout, a minister said on Thursday, but criticised Germany for appearing to say the country might have to quit the euro zone. Without euro zone finance ministers, who meet on Feb. 20, signing off...

  • MILAN, Feb 7- The head of Italy's bank-bailout fund said the country lacked a clear strategy for shifting 356 billion euros in problem loans on Tuesday. His comments exposed tensions within the banking sector over Italy's rescue efforts. The Atlante fund, created 10 months ago following pressure from the government, gathered 4.25 billion euros from around 70...

  • TOULOUSE, France, Jan 23- The head of the world's largest maker of turboprop planes, Franco-Italian ATR, raised concerns on Monday that state cash injections Canada's Bombardier has received for its jet production could distort competition in the turboprop market. Scherer's comments come weeks after Brazil, which is home to Bombardier's main rival in the...

  • FRANKFURT, Jan 18- Some senior regulators are privately raising doubts over whether politically unpopular European rules seeking to shield taxpayers from bank bailouts will ever be enforced as intended. But in the case of Monte dei Paschi, Italy used an exception built into the new rules to avoid a bail-in of senior bond and savings account holders, thereby...

  • *Absa, unit of Barclays Africa, may have to pay $166 mln. JOHANNESBURG, Jan 13- South Africa's anti-graft watchdog has reopened an investigation into whether Barclays Africa Group benefited from an apartheid-era bailout, the bank said on Friday. Former Public Protector Thuli Madonsela instituted the follow-up investigation after a 2010 complaint by Paul...

  • The two banks are seen as the next trouble spot in Italy's slow-burning banking crisis after the government stepped in at the end of 2016 to bail out the country's third-biggest lender Banca Monte dei Paschi di Siena. Popolare di Vicenza's newly appointed chief executive Fabrizio Viola, who was brought in from Monte dei Paschi to oversee a merger with Veneto...

  • BERLIN, Jan 1- Deutsche Bank Chairman Paul Achleitner has ruled out a European merger or a state bailout after the lender's mortgage settlement with the U.S. Department of Justice, Frankfurter Allgemeine Sonntagszeitung reported. The bank, Germany's biggest, last week announced a $7.2 billion settlement with the U.S. Department of Justice over its sale and...

  • LONDON, Dec 30- More than 160 investors in Royal Bank of Scotland have asked the bank to create a committee of shareholders to improve its corporate governance and help avoid a repeat of mistakes that led to its 45 billion pound bailout. "A dominant CEO; concealing the true financial position of the company from investors; proceeding with a reckless acquisition;...

  • LONDON, Dec 23- European shares were steady on Friday with the focus on lenders after Deutsche Bank and Credit Suisse settled mortgage securities fraud suits in the United States, and Italy's Monte dei Paschi agreed to a bailout. The STOXX Europe 600 was flat at its close and unchanged for the week, but the index still on track for its best month since October 2015.

  • LONDON, Dec 23- Italian government bond yields fell on Friday as Monte dei Paschi said it would request aid from a newly-approved state fund to help struggling banks, after failing to win investor backing for a capital increase. Another banking saga concluded with Germany's Deutsche Bank agreeing to a $7.2 billion settlement with the U.S. Department of Justice...

  • FRANKFURT, Dec 23- Deutsche Bank sought to reassure staff about its financial strength on Friday, in the wake of a $7.2 billion settlement with the U.S. Department of Justice over its sale and pooling of toxic mortgage securities. Germany's flagship lender said in a memo to employees that it did not need a government bailout to fund the agreement, according to a...

  • LONDON, Dec 23- Italian government bond yields fell on Friday as Monte dei Paschi said it would request aid from a newly-approved state fund to help struggling banks, after failing to win investor backing for a capital increase. Another banking saga concluded with Germany's Deutsche Bank agreeing to a $7.2 billion settlement with the U.S. Department of Justice...

  • *Italy approves Monte dei Paschi bail-out. *UK Q3 GDP ahead of estimates, cushions sterling. LONDON, Dec 23- European stocks edged higher on Friday, helped by banks after two regional bellwethers settled investigations into U.S. mortgage securities, while oil and the dollar were on the back foot in light trading ahead of the Christmas break.

  • LONDON, Dec 23- European shares edged up on Friday, buoyed by the banking sector after Deutsche Bank and Credit Suisse settled mortgage securities fraud suits with the United States, and as Italy's Monte dei Paschi agreed to a bailout. The STOXX Europe 600 was up 0.1 percent at 0950 GMT, flat for the week but still set for its best month since October 2015.

  • LONDON, Dec 23- European stocks edged higher on Friday helped by banks after two regional bellwethers settled U.S. mortgage securities probes, while oil and the dollar were on the back foot in light trading ahead of the Christmas break. In another boost to European financials, a bailout for Italy's oldest bank Monte dei Paschi was approved as the country's...

  • LONDON, Dec 23- Italian government bond yields fell on Friday as Monte dei Paschi said it would request aid from a newly approved state fund to help struggling banks, after failing to win investor backing for a desperately needed capital increase. Another banking saga concluded with Germany's Deutsche Bank agreeing to a $7.2 billion settlement with the U.S....

  • LONDON, Dec 23- European shares edged up on Friday, buoyed by the banking sector after Credit Suisse and Deutsche Bank settled mortgage securities fraud suits with the United States, and as Italy's Monte dei Paschi agreed to a bailout. The STOXX Europe 600 was up 0.1 percent at 0811 GMT, with banks up 0.4 percent, the top sectoral riser. It agreed to a $7.2 billion...

  • ROME, Dec 23- The Italian government approved a decree on Friday to bail out Monte dei Paschi di Siena after the world's oldest bank failed to win investor backing for a desperately needed capital increase. Looking to end a protracted banking crisis that has gummed up the economy, Prime Minister Paolo Gentiloni said his Cabinet had authorized a 20 billion-euro...

  • MILAN, Dec 22- Monte dei Paschi di Siena said on Thursday its plan to raise on the market 5 billion euros in capital by the end of the year had failed, paving the way for a state bailout of Italy's third-largest bank. Parliament on Wednesday had allowed the Rome government to borrow up to an extra 20 billion euros to prop up failing banks, starting with the Tuscan lender...