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Business

Monte dei Paschi banks on restructuring plan

Italy's Monte dei Paschi says its restructuring plan includes writing off bad loans, job cuts and raising five billion euros in new capital.

Italy's Monte dei Paschi says its restructuring plan includes writing off bad loans, job cuts and raising five billion euros in new capital.

Business

There are now more billionaires in China than in the US

In 2015 more than a third of the world's new billionaires were created in China, as for the first time Asia overtook the United States.

In 2015 more than a third of the world's new billionaires were created in China, as for the first time Asia overtook the United States.

Business

Commerzbank's shares slip despite restructuring

Commerzbank has confirmed it will reduce its workforce by more than a fifth - cutting 9,600 jobs as it faces a slump in earnings.

Commerzbank has confirmed it will reduce its workforce by more than a fifth - cutting 9,600 jobs as it faces a slump in earnings.

News

Brazil's former finance minister is arrested

Observers say it is a sign that a sweeping corruption investigation is closing in on the inner circle of the leftist Workers Party leadership, who ran the South American country for 13 years.

Observers say it is a sign that a sweeping corruption investigation is closing in on the inner circle of the leftist Workers Party leadership, who ran the South American country for 13 years.

Business

Yellen defends Federal Reserve against Trump bias accusations

Janet Yellen, the head of the US central bank, has defended it against accusations from Republican presidential candidate Donald Trump saying: "The Federal Reserve is not politically compromised".

Janet Yellen, the head of the US central bank, has defended it against accusations from Republican presidential candidate Donald Trump saying: "The Federal Reserve is not politically compromised".

News

Super PACs rule for Hillary Clinton

President Obama told the UN that there is too much money in American politics.

President Obama told the UN that there is too much money in American politics.

Business

British PM reassures US businesses over Brexit

British Prime Minister Theresa May has reassuring the bosses of leading US businesses following the UK's vote to leave the European Union.

British Prime Minister Theresa May has reassuring the bosses of leading US businesses following the UK's vote to leave the European Union.

Business

Federal Reserve policy meeting starts - interest rate hike not expected

Policymakers at the US central bank, the Federal Reserve, started a two day meeting on Tuesday. A majority of economists expect its benchmark main interest rate to be left unchanged.

Policymakers at the US central bank, the Federal Reserve, started a two day meeting on Tuesday. A majority of economists expect its benchmark main interest rate to be left unchanged.

News

Eight years on - the collapse of Lehman Brothers

US investment bank Lehman Brothers collapsed on September 15, 2008, sparking the the global financial crisis, the effects of which the world is still feeling.

US investment bank Lehman Brothers collapsed on September 15, 2008, sparking the the global financial crisis, the effects of which the world is still feeling.

Business

Monte dei Paschi bank 'about to fall out of top share listing'

Italian bank Monte dei Paschi di Siena is reportedly about to be removed from the STOXX Europe 600 index - a listing of the region's top shares.

Italian bank Monte dei Paschi di Siena is reportedly about to be removed from the STOXX Europe 600 index - a listing of the region's top shares.

Business

Bank of England surprises investors with no change to UK interest rates

The Bank of England has left the cost of borrowing unchanged in Britain - for now - which pushed down share prices in London and boosted the pound against the dollar and the euro.

The Bank of England has left the cost of borrowing unchanged in Britain - for now - which pushed down share prices in London and boosted the pound against the dollar and the euro.

Business

France moves to lure London bankers post-Brexit

France has stepped up its efforts to grab some of the London banking business that could be displaced by Britain's decision to leave the European Union.

France has stepped up its efforts to grab some of the London banking business that could be displaced by Britain's decision to leave the European Union.

Business

Smartphones set to take Samsung to profit rebound

Samsung is set for its best quarterly profit in more than two years thanks to robust sales of its flagship Galaxy S7 smartphones.

Samsung is set for its best quarterly profit in more than two years thanks to robust sales of its flagship Galaxy S7 smartphones.

Business

Bank of England eases rules for banks to encourage lending and meet Brexit challenge

Britain's central bank has announced further measures to protect from the effects of Brexit including lowering the amount of money that banks have to keep in reserve so more cash will be loaned out.

Britain's central bank has announced further measures to protect from the effects of Brexit including lowering the amount of money that banks have to keep in reserve so more cash will be loaned out.

News

British, US and European bond yields tumble on the prospect of lower interest rates

British, US and European bond yields have fallen, in some cases to record lows, on the prospect of lower interest rates and other stimulus to counter the effects of the Brexit.

British, US and European bond yields have fallen, in some cases to record lows, on the prospect of lower interest rates and other stimulus to counter the effects of the Brexit.

Business

Standard & Poor's strips UK of AAA credit rating

Britain's economic standing has suffered a further blow with the ratings agency Standard & Poor's stripping the UK of its last remaining AAA credit rating.

Britain's economic standing has suffered a further blow with the ratings agency Standard & Poor's stripping the UK of its last remaining AAA credit rating.

News

Bank of England poised to stem Brexit shockwaves

The Bank of England Governor Mark Carney has said its ready to intervene and provide additional help to prop up financial markets.

The Bank of England Governor Mark Carney has said its ready to intervene and provide additional help to prop up financial markets.

Business

Standard and Poor's interest rate warning

Standard and Poor's has warned that as borrowing costs go up some countries could see their credit ratings cut or outlooks lowered, with the most pronounced problem in the eurozone.

Standard and Poor's has warned that as borrowing costs go up some countries could see their credit ratings cut or outlooks lowered, with the most pronounced problem in the eurozone.

News

Swiss vote for money for nothing

The EU says it is pondering a pilot scheme for a bloc-wide basic income for all, and this weekend the Swiss actually get to decide on the idea in one of their referendum votes, the first country to vo

The EU says it is pondering a pilot scheme for a bloc-wide basic income for all, and this weekend the Swiss actually get to decide on the idea in one of their referendum votes, the first country to vo

News

All you need to know about the Universal Basic Income

Switzerland will become the first country to hold a national vote on whether to introduce a Universal Basic Income (UBI).

Switzerland will become the first country to hold a national vote on whether to introduce a Universal Basic Income (UBI).

Business

Another US interest rate hint from the Federal Reserve

One of the top policymakers at the US central bank is dropping strong hints about the cost of borrowing going back up there.

One of the top policymakers at the US central bank is dropping strong hints about the cost of borrowing going back up there.

Business

IMF welcomes Saudi reforms

The International Monetary Fund is applauding Saudi Arabia's sweeping reform plan calling it "an appropriately bold and far-reaching transformation".

The International Monetary Fund is applauding Saudi Arabia's sweeping reform plan calling it "an appropriately bold and far-reaching transformation".