In a region known for port, winemakers along the Douro Valley are taking top prizes for reds and whites, Global Post reports.» Read More
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.
*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.
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.
*China data lifts stocks, oil and metals outlook. LONDON, July 16- Stocks rose in Europe on Wednesday after China reported economic growth figures that were slightly stronger than markets had expected, although the reaction in Asia was more muted. The China data helped push Shanghai zinc and London aluminium close to their highest in more than a year.
Dutch blue chip toolmaker ASML, down 1 percent, and Swedish telecoms firm Tele2, down 1.1 percent, both reported better-than-expected quarterly earnings but had a cautious tone for their full-year outlook statements. Analysts at Espirito Santo said that "uncertainty remains high" for Tele2.
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.
Rio de Janeiro- based Oi and Portugal Telecom agreed to keep the terms of their merger unaltered for now, the paper said, adding that Portugal Telecom will continue to have a 37 percent stake in CorpCo, as the company resulting from the merger is known. Efforts to reach Lisbon- based Portugal Telecom were unsuccessful.
*Portugal jitters seen as sign of things to come. LONDON, July 15- Investors are bracing for more "mini-crises" in the euro area's periphery- like that triggered by Portugal's biggest listed bank last week- after a two-year rally that has left stocks and bonds looking pricey.
*Debt owed to Portugal Telecom, which is merging with Brazil's Grupo Oi. By 2200 GMT Rioforte is supposed to repay 847 million euros in maturing debt to the country's largest telecom services provider, Portugal Telecom, currently in the throes of a tie-up with Brazil's Grupo Oi, which is likely to amend the terms of the deal in the event of a default.
*BES plunges to record low, weighs on Lisbon stock market. LONDON, July 15- European stocks fell as declining investor morale hit Germany's benchmark DAX equity index and lingering worries over Portuguese bank BES weakened the Lisbon stock market.
*Default risks hurting PT's planned merger with Brazil's Oi. LISBON/ PARIS, July 13- Investors in Portugal Telecom, and notably its Brazilian merger partner Grupo Oi, should know by Tuesday whether more than $1 billion it lent in April to a vehicle of the troubled Espirito Santo family is being repaid on time.
LISBON, July 14- Portugal's top bank was under new management on Monday, installing a respected economist as chief executive under pressure from the central bank after worries about the lender's links to the financially troubled Espirito Santo empire had unsettled international markets.
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.
LISBON, July 14- Portugal's financially troubled Espirito Santo family loosened its grip on the country's largest listed bank, announcing a stake sale and hastening management change after prompting from the central bank which is trying to calm investors.
David Salanic, founder of Tortus Capital, discusses Portuguese government bonds and explains that they could go down 70 percent.
David Salanic, founder of Tortus Capital, explains that he's been short on Portugal for over a year and says that it will be "very difficult" for the country to cut its deficits further.