ABN Amro broke most banking stereotypes when its chairman dressed up in drag and masqueraded as a brothel owner at a corporate event.» Read More
Plans by Italian lender Banca Monte dei Paschi di Siena (BMPS) to raise over double its planned capital increase under a new bailout program have won the support of the European Union's antitrust regulator.
The European Commission told Italian lender Monte dei Paschi di Siena to beef up a restructuring plan before it can be given approval for a $5.3 billion bailout.
European shares were higher in early afternoon trade on Wednesday despite preliminary growth data from the euro zone missing estimates.
Italian prosecutors said they have ordered the seizure of 1.8 billion euros ($2.4 billion) of assets from Japanese bank Nomura as part of an investigation into a suspected fraud.
European shares closed higher on Tuesday, led by the telecoms sector, which was boosted by new reports that Vodafone, the world's second largest mobile operator, could be bought.
Journalists seem to be outnumbering Cypriots standing in lines at banks in Nicosia. That's good news, right?
There is serious damage accumulating in European banks, yet at least for today, Cyprus isn't all to blame.
Trading of shares in Banca Monte dei Paschi di Siena has been suspended mid-day Thursday. The stock price rose 7.4 percent, after initially declining on news its head of communications had been found dead.
A court in Rome ruled on Thursday the Italian government's plan to lend 3.9 billion euros to troubled lender Banca Monte dei Paschi di Siena can go ahead. The Rome administrative court will make its decision public on Friday.
Twenty percent of Italian companies are set to fail, Intesa Sanpaolo Chief Executive Enrico Cucchiani, told CNBC on Wednesday.
Regardless of who wins next weekend's parliamentary election, Italy's long economic decline is likely to continue because the next government won't be strong enough to pursue the tough reforms needed to make its economy competitive again.
Monte dei Paschi pumped up its bid for Antonveneta to trump a rival offer from France's BNP Paribas, paving the way for an eventual state bailout of the world's oldest bank.
The Italian bank Monte dei Paschi di Siena and the Dutch lender SNS Reaal have one thing in common with the UK's Royal Bank of Scotland and Belgium's Fortis. They all bought a part of the Dutch bank ABN AMRO in 2007 and suffered from the capital strain and losses caused by that acquisition.
European shares closed lower after choppy trading on Thursday, tracking falls on the U.S. equity markets.
Economic activity in the euro area will remain weak in early 2013 before gradually recovering later in the year, European Central Bank (ECB) President Mario Draghi said on Thursday.
Board members at Monte dei Paschi are expected to say that Italy's third largest bank may have lost up to 1 billion euros on trades, higher than the initial estimate.
European shares suffered steep falls on Monday as mounting political uncertainty in the peripheral euro zone prompted investors to lock in profits on indexes trading close to multi-year highs.
The secret document at the heart of the Monte dei Paschi banking scandal lay for months in a concealed safe in a 14th century Tuscan palace. Chief Executive Fabrizio Viola said he learnt about the safe's contents only last October, a full 10 months after he had been called in to sort out Italy's third biggest bank.
Italy's technocrat prime minister, Mario Monti, is likely to lead the country again after the national election in February, Coutts Chief Investment Officer Norman Villamin told CNBC.
Monte dei Paschi di Siena said on Sunday it was seeking a financial investor as the political storm over a derivatives scandal at the ailing bank intensified ahead of next month's Italian election.