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NEW YORK, July 10- The yen hit a five-month high against the euro and an almost two-month high against the dollar on Thursday after concerns about Portugal's largest listed bank and weak Italian economic data hit European shares.
July 10- Certain economic formulas are pointing to a Federal Reserve interest rate hike as early as this year, a Fed official said on Thursday, according to Dow Jones.
For some of Wall Street's biggest names, quarterly results are expected to be weak, while the future is pockmarked with uncertainty.
BRASILIA, July 10- Brazil's government is in talks with commercial banks to lend at least 2 billion reais in emergency credit to electricity distributors as drought causes power rates to soar, a source with direct knowledge of the talks told Reuters on Thursday. Brazil's energy regulator on Wednesday extended the deadline for payment to the end of the month.
The Fed issued a cease-and-desist order and a $975,000 fine to Banco Espirito Santo for a violation in 2012.
LONDON, July 10- Investors across Europe trimmed their exposure to banks on Thursday in response to growing concerns about the health of Portugal's biggest listed lender, with a leading pan-European share index slipping to a two-month low.
Banco Espirito Santo was fined $975,000 by the Federal Reserve in 2012. CNBC's Michelle Caruso-Cabrera provides insight to the fine.
WASHINGTON, July 10- A surge of Republican pressure is bringing the Federal Reserve's long-held independence into question again, as conservative lawmakers seek to place the U.S. central bank under tougher scrutiny.
LONDON, July 10- Concern about the health of a parent company of Portugal's largest bank hurt bonds from the euro zone's periphery on Thursday, curbing demand at Greece's second debt sale following its 2012 default.
*Portugal's worries about BES group have regional reverberations. LONDON, July 10- Concern about the health of a parent company of Portugal's largest bank hurt bonds from the euro zone's periphery on Thursday, curbing demand at Greece's second debt sale following its 2012 default.
Portugal suspends the trading in Banco Espirito Santo shares, reports CNBC's Michelle Caruso-Cabrera.
Art Cashin, UBS director of floor operations, discusses how problems in Portugal have spilled over to spook the U.S. stock market.
NEW YORK, July 10- The yen hit a five-month high against the euro and an almost two month high against the dollar on Thursday, after concerns about Portugal's largest listed bank and weak Italian economic data hit European shares.
*CIMB aims to acquire RHB and Malaysia Building Society. KUALA LUMPUR, July 10- Malaysia's CIMB Group Holdings Bhd is seeking to acquire two lenders to create the country's biggest bank in a move that is likely to push larger rival Maybank and others in the region to bulk up too.
*Bank of England holds interest rates, as expected. LONDON, July 10- The Bank of England held interest rates at record lows on Thursday but the pace of Britain's recovery looks likely to divide its policymakers soon over when to start weaning the economy off its support.
CNBC's Karen Tso reports there's a selloff in global markets triggered by disappointing economic data and concerns around troubled Portuguese banks.
LONDON, July 10- A mountain of accumulating fines for banks that have broken the rules is making it harder for regulators to work out how much capital lenders need to hold to be safe, Bank of England Deputy Governor Andrew Bailey said on Thursday.
*Portugal's PSI share index down 4.4 percent. LONDON, July 10- European shares fell on Thursday as southern European indexes tumbled on weak data from Italy and growing concerns over the financial health of Portugal's largest listed bank.
Jim Iuorio, TJM Institutional Services shares his thoughts on what's prompting the selloff in European markets.
*Earnings, valuations concerns dominate in Europe. LONDON, July 10- Europe's debt-sodden periphery was back at the top of the list of financial concerns on Thursday, troubles around Portugal's biggest listed bank pushing shares sharply lower and quelling demand for an issue of bonds by Greece.
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