BoE's Haldane: Too Big to Fail Is Still 'Business Unfinished'
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Journalists seem to be outnumbering Cypriots standing in lines at banks in Nicosia. That's good news, right?
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European shares closed lower on Friday as as investors booked gains after a 10-day global rally.
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The Bank of Italy told Italian banks to further hike provisions they set aside against bad debts to take into account the worsening economic scenario and asked lenders which posted losses not to distribute dividends or bonuses.
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*Italy's FTSE MIB falls 1.7 pct on weak bond auction. LONDON, March 13- European shares recouped their earlier losses to end flat near 4-1/ 2- year highs on Wednesday, with sentiment improving after robust U.S. retail sales data pointed to a continued recovery in the world's biggest economy.
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LONDON, March 13- European shares recouped most of their earlier losses to end flat near 4-1/ 2- year highs on Wednesday, after robust U.S. retail sales data pointed to a continued recovery in the world's biggest economy.
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TRIPOLI, March 12- The outgoing head of Libya's sovereign wealth fund said a decision to sack him has left its restructuring plans and the pursuit of compensation for investment losses in limbo, potentially costing the country millions.
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*Markets unmoved by Italy's political gridlock. ROME, March 12- Italy's election produced the hung parliament investors said was the worst possible outcome, recession is deepening, debt is rising and its credit rating has just been downgraded.
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DUBAI, March 11- Dubai- based builder Arabtec will buy the 40- percent stake in Target Engineering it does not already own to expand its move into the oil and gas construction business, two sources with knowledge of the deal said. Target Engineering specialises in oil and gas and marine projects with operations in the United Arab Emirates, Qatar and Saudi Arabia.
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MILAN, March 11- The Bank of Italy has told some of Italy's biggest banks to hike bad loans provisions after a sector audit showed they were vulnerable to defaults from small firms struggling in a deep recession, two senior banking sources told Reuters. The Bank of Italy declined to comment. "The Bank of Italy is drafting new guidelines.
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NEW YORK, March 8- Prices of U.S. There's a lot to like in this report, "said Terry Sheehan, an economic analyst with Stone& McCarthy Research Associates in Princeton, New Jersey."
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*Fitch downgrades Italy after Europe's closing bell. PARIS, March 8- European shares hit their highest level in 4-1/ 2 years on Friday after robust U.S. jobs data fuelled expectations of a pick-up in global growth while central banks' keep policy supportive.
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PARIS, March 8- European shares hit their highest level in 4-1/ 2 years on Friday after robust U.S. jobs data fuelled expectations of a pick-up in global growth while central banks' monetary policies remain supportive.
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*U.S. household net worth up $1.1 trillion in Q4. WASHINGTON, March 7- U.S. household debt grew at its fastest pace since early 2008 in the fourth quarter of last year, a possible sign that the painful process of paring back borrowing in the aftermath of the financial crisis may have run its course.
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*No signal of rapid support for Italy expected. FRANKFURT, March 7- The European Central Bank kept interest rates steady on Thursday and is likely to eschew dramatic action to help Italy or other euro zone countries, despite the threat of political turmoil in Rome reigniting the bloc's debt crisis.
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*No signal of rapid support for Italy. FRANKFURT, March 7- The European Central Bank will eschew dramatic action on Thursday to help Italy or other euro zone countries caught up in its backwash, despite the threat of political turmoil in Rome reigniting the bloc's debt crisis.
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*No signal of rapid support for Italy. FRANKFURT, March 7- The European Central Bank will eschew dramatic action on Thursday to help Italy or other euro zone countries caught up in its backwash, despite the threat of political turmoil in Rome reigniting the bloc's debt crisis.
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LONDON, March 4- European equities finished a volatile session broadly flat on Monday after investors balanced fresh assurances of global central bank stimulus against some disappointing earnings and political uncertainty in Italy.
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*Italy far ahead in its 2013 funding programme. LONDON, Feb 28- Italy was quick off the blocks to raise funding this year, which means it can afford to ease off the pace or fall back on less risky short-term bond sales if Rome's political crisis makes investors reluctant to buy its debt.
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WASHINGTON, Feb 28- The U.S. economy barely grew in the fourth quarter as the military slashed spending and companies restocked their shelves with less gusto, but growth already appears to be picking up.
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MILAN, Feb 27- Italy will pay the price for its latest political crisis with higher borrowing costs on Wednesday when it sells longer-dated bonds to investors worried about an inconclusive election.
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*Italy forced to pay 50 bps more to sell 6- month bills. MILAN, Feb 26- Italian stocks and government bonds fell sharply on Tuesday, after a parliamentary election left Italy facing political deadlock and rekindled fears of a new euro zone debt crisis.