At Davos, António Pires de Lima, economy minister of Portugal, talks about sovereign bond-buying, saying he doesn't want Europe to face a Japanese deflation-style stagnation.» Read More
LONDON- Europe's largest bank HSBC warns that regulators' zeal to punish wrongdoing is putting its staff off taking reasonable business risks, as it reports a 12 percent drop in first-half profit. Portugal in $6.6 bln rescue of Banco Espirito Santo.
ATHENS, Aug 4- Incoming European Commission President Jean-Claude Juncker played down on Monday the option of an outright writing off of part of the euro zone loans to Greece to make the country's debt more manageable.
LONDON, Aug 4- European stocks rose on Monday and bond yields fell on a banking sector rebound after Portugal prevented the collapse of one of its biggest lenders and shares in the continent's largest bank jumped in the wake of its latest earnings report.
They are going to split this bank up into two banks - the "good" bank and the "bad" bank, reports CNBC's Michelle Caruso-Cabrera on the rescue of Portugal's biggest bank.
LONDON, Aug 4- The German and Swiss stock markets were the worst performers in Europe on Monday, as the impact of sanctions against Russia pegged back equities and offset some relief over a rescue deal for Banco Espirito Santo.
LONDON, Aug 4- Investors breathed a sigh of relief on Monday after Portugal prevented the collapse of one of its biggest banks, putting some life back into European stocks following last week's slide and pushing bond yields lower across the board.
Edward Hugh, independent economist, says that the Banco Espirito Santo bailout raises the question of whether a debt restructuring will be needed and who would be "carrying the can".
Antonio Barroso, senior vice president at Teneo Intelligence, and Steen Jakobsen, chief economist at Saxo Bank, discuss whether there is more trouble ahead for Portugal's banking sector.
*Concerns on sanctions on Russia, Argentine default trigger selling. MSCI's broadest index of Asia-Pacific shares outside Japan managed to gain 0.4 percent, largely as Chinese shares continued to rally on signs that economy was regaining momentum after a spate of stimulus measures.
Portugal will spend 4.9 billion euros ($6.58 billion) to rescue its largest listed bank, testing the euro zone's resilience to another banking crisis.
LISBON, Aug 3- Portugal will spend 4.9 billion euros to rescue its largest listed bank, testing the euro zone's resilience to another banking crisis just months after Lisbon exited an international bailout.
LISBON, Aug 3- Troubled Portuguese lender Banco Espirito Santo is expected to be split into "bad" and "good" banks under a multi-billion euro state rescue plan being hashed out by Lisbon and EU authorities, people familiar with the talks said on Sunday.
The Espirito Santo dynasty totters amid a financial scandal that's threatened to re-ignite Europe's financial crisis. Global Post reports.
Philippe Bodereau, global head of financial research at PIMCO, says the problems associated with Banco Espirito Santo do not threaten the financial stability of euro zone banks.
The euro has remained stubbornly strong amid a slew of obstacles, and some analysts said the European Central Bank has kept it higher.
Portugal's Espirito Santo International, holding company of Banco Espirito Santo, said it has filed for creditor protection.
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.
Otto Dichtl, managing director at Stifel Nicolaus, comments on Portugal Telecom, as reports indicate that one of the holding companies of the Espirito Santo family, Rioforte, could fail to repay its debt.
Robert Hormats, Kissinger Associates vice chairman, shares his thoughts on the escalating violence in the Middle East, and weighs in on the challenges ahead for China, Brazil and Portugal.
CNBC's Michelle Caruso-Cabrera reports on the ripple effects of global unrest.