European shares closed lower on Wednesday, with investors shunning banking stocks after regulators announced penalties.» Read More
*Allianz tumbles 6 pct as Gross leaves Pimco. PARIS, Sept 26- European shares trimmed gains in afternoon trade as shares of German insurer Allianz plunged on news that fund manager Bill Gross was leaving Allianz's asset-management unit Pimco.
*UniCredit, Santander to hold around one third each of new entity. MILAN, Sept 23- Italian bank UniCredit SpA and Spain's Santander SA are in talks to merge their fund management businesses and create a European powerhouse overseeing some 350 billion euros of assets.
*UniCredit selling up to 50 pct stake in asset manager unit. Sept 23- Spanish bank Santander and Italian rival UniCredit are close to a deal to combine their asset management businesses to create a European fund managing powerhouse, sources close to the matter told Reuters.
FRANKFURT, Sept 18- The European Central Bank saw far less demand than expected on Thursday for its new four-year loans to banks, raising doubts about a stimulus package it hopes will stave off deflation and revive the euro zone economy.
LONDON, Sept 11- Spanish bond yields inched up on Thursday as nervous investors continued to trim holdings before a Scottish independence vote on Sept. 18, where a victory for nationalists would fuel demands by Catalonia to break away from Spain.
LONDON, Sept 10- Some European banks being checked by regulators for signs of capital weakness may be sitting on up to a trillion dollars of potentially unsafe assets because their holdings of sovereign bonds are not being fully risk assessed, a new study has found.
*Telecom Italia says America Movil may join Brazil unit bid. LONDON, Sept 9- European equities steadied after choppy early trading on Tuesday as gains for shares in companies including Telecom Italia and ABB were offset by weaker energy shares following a sharp decline in crude oil prices.
CERNOBBIO, Italy, Sept 7- The annual meeting of Italy's business elite on the shores of Lake Como was- again- dominated by calls for reforms and gloomy discussion of an economic crisis now well into its sixth year.
*Jackson Hole speech increases QE expectations. LONDON, Sept 4- Euro zone bond yields dipped on Thursday as the European Central Bank was expected to reinforce its message that it was ready to use all its tools, including bond-buying, to support the economy and lift inflation.
LONDON/ BUDAPEST, Sept 3- Banks in central and eastern Europe risk missing out on beneficial foreign investment if they fail to step up efforts to provide clearer information about their financial health. Austria's Erste had a profit-warning in July because of troubles in Hungary and Romania.
VIENNA, Sept 2- Austrian Chancellor Werner Faymann took a tougher line on Russia's role in Ukraine on Tuesday, blasting Moscow's "deception and salami tactics" in the conflict and saying Austria was prepared to pay the price of tougher sanctions.
*FTSEurofirst 300 up 0.3 pct, Euro STOXX 50 up 0.4 pct. Shares in Italian luxury eyewear maker Luxottica bucked the trend as it fell 1.9 percent after long-term CEO Andrea Guerra stepped down following rifts with Chairman and founder Leonardo Del Vecchio and as the group overhauled its top management structure.
Aug 21- Austria's Raiffeisen Bank International played down the significance of western sanctions on Russia to its business there despite being one of the foreign banks most exposed to the country.
**Austria's Raiffeisen Bank International played down the significance of western sanctions on Russia to its business there despite being one of the foreign banks most exposed to the country.
*Germany surprises by slipping into contraction. BERLIN/ BRUSSELS, Aug 14- The euro zone economy ground to a halt in the second quarter of the year, drained of vigor by contraction in Germany and stagnancy in France.
*Germany surprises by slipping into contraction. BERLIN/ BRUSSELS, Aug 14- The euro zone economy ground to a halt in the second quarter of the year, drained of vigour by surprisingly shrinking growth in Germany and stagnancy in France.
LONDON, Aug 7- In the face of sanctions that have frozen international lending to Russia, a small group of European banks are trying to refinance existing loans to big companies there in order to protect their business. Bank Austria, the central and eastern Europe arm of Italian bank UniCredit, said this week it expects to keep making solid profits in Russia.
*Russia plans to ban food imports from U.S., Europe. LONDON, Aug 7- German Bund yields dropped to a record low on Thursday as the European Central Bank warned that the Ukrainian crisis and tit-for-tat sanctions with Russia may threaten Europe's already fragile economic recovery.
*Russia plans to ban some food imports from U.S., Europe. Russia's state news agency said on Wednesday that Moscow will ban all imports of food from the United States and all fruit and vegetables from Europe.
*Western bank still expects robust Russia profits. MOSCOW, Aug 6- Russia will ban all imports of U.S. food products as well as fruit and vegetables from the European Union after President Vladimir Putin ordered retaliation for Western sanctions against Moscow, a state news agency reported on Wednesday.