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  • LISBON/ LONDON, July 31- Portugal's hopes of drawing a line under the financial and governance troubles of Banco Espirito Santo were dashed on Thursday as investors took fright at massive losses and revelations of potential illegal activity at the country's largest listed bank.

  • *Bank of Portugal suspends BES risk, compliance, audit staff. LONDON/ LISBON, July 30- Laws may have been broken at Portugal's Banco Espirito Santo during a catastrophic six months that saw it lose 3.6 billion euros, the bank's new management said on Wednesday, as they vowed to raise new cash to bolster finances and to investigate the losses.

  • Ailing Portuguese bank's shares sink after losses Thursday, 31 Jul 2014 | 6:25 AM ET

    LISBON, Portugal— The woes of troubled Portuguese bank Banco Espirito Santo deepened Thursday as its share price plunged on the Lisbon stock exchange, a day after it reported a record half-year loss of 3.58 billion euros. The bank's share price, which four months ago was around 1.3 euros, fell as low as 0.17 euros.

  • *Bank of Portugal suspends BES risk, compliance, audit staff. LONDON/ LISBON, July 30- Laws may have been broken at Portugal's Banco Espirito Santo during a catastrophic six months that saw it lose 3.6 billion euros, the bank's new management said on Wednesday, as they vowed to raise new cash to bolster finances and to investigate the losses.

  • Bank scandal tarnishes powerful Portuguese family Wednesday, 30 Jul 2014 | 4:11 AM ET

    The scandal bears the hallmarks of the recent European financial crisis, and the difficulties at Banco Espirito Santo— for years Portugal's largest private bank— sent a shiver through global markets this month as investors feared Europe's closet contained more skeletons. Banco Espirito Santo's sudden difficulties turned out not to be systemic, however.

  • Fraud investigators quiz top Portuguese banker Thursday, 24 Jul 2014 | 6:21 AM ET

    LISBON, Portugal— Portugal's attorney general's office says prosecutors investigating a suspected tax fraud and money-laundering conspiracy have detained the former head of the country's largest bank.

  • Lisbon rallies as European shares edge higher Wednesday, 23 Jul 2014 | 12:56 PM ET

    *Investors keeping wary eye on Ukraine crisis. LONDON, July 23- Portugal's stock market outperformed other European bourses on Wednesday, rallying after investors bought stakes in the country's troubled lender Banco Espirito Santo.

  • *Rioforte owes Banco Espirito Santo 220 million euros. The announcement from Rioforte came less than an hour after Banco Espirito Santo, which the family founded, said that two heavyweight U.S. investors had taken a combined stake of almost 5 percent in BES.

  • *Rioforte owes Banco Espirito Santo 220 million euros. The announcement from Rioforte came less than an hour after Banco Espirito Santo, which the family founded, said that two heavyweight U.S. investors had taken a combined stake of almost 5 percent in BES.

  • LISBON, July 21- Portugal's president warned on Monday that fallout from the financial troubles of the founding family of Banco Espirito Santo could affect the wider economy, while the bank said it was appointing a special financial advisor to help boost its capital structure.

  • LISBON, July 21- Portugal's Banco Espirito Santo is appointing a special financial advisor to help it raise capital to cope with large debts at the bank's founding family.

  • *Angola central bank says BES's Angola unit needs capital increase.

  • *Angola central bank says BES's Angola unit needs capital increase. LISBON, July 18- Financial problems at Portugal's Espirito Santo business empire spilled further across national borders on Friday, with Angola's central bank saying the local division of Banco Espirito Santo would need a capital increase to deal with bad loans.

  • LISBON, July 18- Banco Espirito Santo should be able to tap private investors if it needs to boost its defences against losses, Portugal's central bank governor said on Friday, reiterating that the lender had sufficient capital reserves.

  • DIARY - Top Economic Events to July 31 Thursday, 17 Jul 2014 | 8:01 PM ET

    PARIS- IMF chief Christine Lagarde and Germany Finance Minister Wolfgang Schaeuble take part in a debate on the future of the euro zone at a conference in Paris- 0900 GMT.

  • *Portugal Telecom considering lawsuit targeting BES. LISBON, July 17- Banco Espirito Santo could be sued over a loan that one of its founding family's holding companies failed to repay to Portugal Telecom, sources said on Thursday, as credit rating agencies downgraded the bank and its key shareholder.

  • LISBON, July 17- Two of the big three ratings agencies slashed their credit marks for Portugal's Banco Espirito Santo and its biggest shareholder on Thursday, warning of an impact on their solvency from the founding family's growing financial problems.

  • *Portugal Telecom salvages Oi merger but cuts stake. *Portugal Telecom shares jump in relief. LISBON, July 16- Portugal Telecom has been forced to take a cut in its share of the merger with Brazil's Grupo Oi after a holding company of the Espirito Santo family failed to repay more than $1 billion it owed to the telco.

  • European shares recover as BES and miners bounce back Wednesday, 16 Jul 2014 | 6:14 AM ET

    *FTSEurofirst 300 up 1 pct, Euro STOXX 50 up 1.2 pct. LONDON, July 16- European equity markets recovered on Wednesday from losses in the previous session as a rebound in Banco Espirito Santo and in mining stocks lifted the region's bourses.

  • Espirito Santo: 'Not a systemic situation'     Wednesday, 16 Jul 2014 | 4:20 AM ET

    Alberto Gallo, head of European macro credit research at RBS, discusses the financial difficulties the Espirito Santo family of companies is facing and says that it is not a systemic situation for Portugal.