Ebrahim Rahbari, director of global economics at Citi Research, who coined the "Grexit" term, asks if the risks of Greece exiting the euro have really receded.» Read More
*Spain's Rajoy says banking union is credibility test for European Union. BRUSSELS/ MADRID May 13- Spain and Portugal called on Monday for the euro zone to complete a banking union as Germany underscored legal hurdles before a central element of the plan to deal with failing banks can be introduced.
*Late payment hitting southern Europe harder than the north. *Business confidence down across Europe. Against the backdrop of the economic downturn and restricted bank lending in Europe, experts fear that the mountain of unpaid bills will drive up insolvency and job losses, reduce cross-border trade and snuff out any recovery.
*Outsourcing sector defies recession in Portugal. *Global leaders in Portugal, Portuguese firms expand abroad. He earns 700 euros a month, 200 euros more than previously, plus bonuses, and the company covers his rent- a rare perk in Portugal.
*China reports stronger-than-forecast April trade data. MSCI's broadest index of Asia-Pacific shares outside Japan added 0.8 percent to its highest since August 2011, pulled up by a 0.7 percent gain in Australian shares and a 0.8 percent rise in Hong Kong shares.
*MSCI Asia ex- Japan up 0.2 pct, Nikkei opens 0.1 pct higher. "Foreign investors just don't stop buying Japanese shares," said Kenichi Hirano, operating officer at Tachibana Securities. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.2 percent, with Australian shares trading up 0.2 percent and South Korean shares opening 0.4 percent higher.
May 8- Headlines Qatar eyes Bankia stake in British Airways, Iberia parent Santander, private equity firms plan auto finance unit IPO Glass Lewis calls on Jamie Dimon to drop chairman role Lisbon enjoys strong investor demand for bond issue. Cheap deals drive UK car sales to best April since financial crisis.
SEOUL, May 8- Seoul shares may rise for the first time in three days on on Wednesday after Wall Street extended its rally to notch up record highs and South Korean lawmakers ratified a supplementary budget.
NEW YORK, May 7- The euro held steady against the dollar but fared well against other major European currencies on Tuesday as surprisingly strong German data and a solid sale of Portuguese bonds allayed concerns about the euro zone economy and its debt burden.
*MSCI share index at highest since 2008; DAX at record high. NEW YORK, May 7- Major stock indexes in Germany and the United States hit all-time highs on Tuesday after data bolstered expectations that Germany has returned to growth, while Australia reminded markets that accommodative policies from central banks have room to run.
*MSCI share index at highest since 2008; DAX at record high. NEW YORK, May 7- Major stock indexes in Germany and the United States hit all-time highs on Tuesday after data bolstered expectations that Germany has returned to growth, while a successful bond sale in Portugal indicated the country is on track to exit its bailout.
*Q1 net loss 62 mln euros vs f'cast small profit. *Bad loan provisions up 26 pct to 187 mln euros. LISBON, May 7- Banco Espirito Santo, Portugal's second-largest listed bank by assets, fell to a 62 million euro net loss in the first quarter, pressured by a rise in bad loans due to the country's recession.
NEW YORK, May 7- The euro fared well against most currencies on Tuesday as surprisingly strong German data and a solid sale of Portuguese bonds allayed euro zone economic and debt concerns, prompting investors to pare positions against the common currency.
LISBON, May 7- Banco Espirito Santo, Portugal's second largest listed bank by assets, reported on Tuesday a 62 million euro net loss in the first quarter, after a small year-ago profit, pressured by a rise in credit provisions due to the country's recession.
A 4 G network will give the fourth-biggest operator in Spain an advantage over rivals Telefonica and Vodafone, which have lost share to low-cost providers as customers in Spain- where the unemployment rate stands at 27 percent- seek cheap deals. Taulet said Yoigo, owned by Sweden's Teliasonera, will offer 4 G services in the Madrid region from July 18.
Didier Saint Georges, a member of the investment committee at Carmignac Gestion, says the environment for European bond investors remains supportive, following the successful Portuguese 10-year bond auction.
LONDON, May 07 Fitch Ratings has affirmed Portugal Telecom SGPS SA's Long-term Issuer Default Rating at' BBB' with a Negative Outlook. At the same time, the agency has affirmed the senior unsecured rating of the bonds issued by Portugal Telecom International Finance BV at' BBB.'.
BRUSSELS, May 7- Portugal's preparations to issue a new benchmark 10- year bond are an "enormous success", European Central Bank policymaker Yves Mersch said on Tuesday. Mersch said Portugal "this morning had an enormous success in the capital markets after having very strong measures implemented back home the markets rewarded it."
FRANKFURT, May 7- An influx of people from crisis-hit southern European countries like Spain, Italy and Greece has led to the biggest surge in German immigration in nearly 20 years. The Federal Statistics Office said on Tuesday that 1.081 million immigrants flocked to Germany last year, up 13 percent from 2011 and the highest number since 1995..
BERLIN, May 7- The European Union must aim to have made "decisive progress" by the end of June on its plans to create a banking union, French Finance Minister Pierre Moscovici said on Tuesday.
LONDON, May 7- The Republic of Portugal, rated Ba3/BB/BB+, recorded over EUR9bn of orders for its no-grow EUR3bn 10- year bond when European books closed on Tuesday, said banks managing the deal. Books are still open for US investors but will close at 8:30 a.m. New York time or 1:30 p.m. London time.