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Italy

Italy approves bailout fund for failing banks, including Monti dei Paschi

The Italian government has approved a €20 billion bailout fund, as Monti dei Paschi fail to raise desperately needed funds from private investors.

Business Line

It's not easy running a central bank in these strange political times

Business Line reviews some of 2016's main economic changes and the responses of the Federal Reserve, the European Central Bank and Bank of England.

Economy

Spanish banks lose mortgage interest rate case

The European Court of Justice has ruled that two million Spanish mortgage holders are entitled to bank refunds because they paid too much interest.

Economy

Italy moves ahead with 20 billion euro bank rescue plan

Italy's parliament has approved a 20 billion euro plan to prop up the country's weaker banks, starting with a bailout for Monte dei Paschi di Siena.

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Business Series

Monte dei Paschi share offer is last ditch attempt to avoid bailout

Shares in Monte dei Paschi suffered further steep falls on Monday as it tried to raise five billion euros by year-end to avoid a state bailout.

Business Series

UniCredit moves to overcome Italian banking woes with 13 bln euro share sale

Italy's largest bank, UniCredit, is to raise 13 billion euros in a share issue to shore up its balance sheet. It will also cut 14,000 jobs.

Real Economy

Getting Europe's banks healthy and lending

Will the new banking regulations make our banks safer and be less of a burden to the taxpayer?

Economy

European Central Bank's #AskECB session brings out the Twitter jokers

The European Central Bank's attempt to be more user friendly via #AskECB on Twitter brought serious questions, but a few pranksters as well.

Economy

ECB shrugs off doubts over euro zone outlook

The European Central Bank is confident Italy knows what to do.

World News

ECB in the spotlight as investors expect more stimulus boosts

The European Central Bank is expected to extend its generous bond buying scheme and keep its principal interest rate, for refinancing operations, unchanged at zero percent as efforts continue to boost

Economy

EU penalises banks for fixing Euribor interest rates

JPMorgan Chase, Credit Agricole and HSBC have been fined a total of 485 million euros for their alleged role in a cartel to fix the price of Euribor interest…

Business Series

Italy readies state bailout for Monte dei Paschi - sources

The world’s oldest operating bank Monte dei Paschi needs to raise five billion euros by the end of this month.

United Kingdom

Bank note controversy in UK

The Bank of England’s new plastic five pound note has fallen foul of vegans and members of the UK’s Sikh and Hindu communities.

Economy

Italian banks face sluggish response on cash calls as capital crisis looms

Investor confidence in Italian banks ability to raise money to cover bad debt takes a tumble as fears over government's future weigh on market.

Economy

Draghi defends bank regulation, says eurozone recovery not yet strong

ECB President Mario Draghi has spoken out against any relaxing of the rules on how banks operate and hinted at more stimulus for the eurozone.

Markets

Surprise profit from Deutsche Bank but still overshadowed by massive US fine

Germany's biggest lender, Deutsche Bank, has posted an unexpected quarterly net profit but CEO John Cryan say no settlement yet on US misselling fine.

Markets

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.

Economy

European Central Bank leaves stimulus measures unchanged

European Central Bank policymakers have kept interest rates and their bond buying programme unchanged, setting the stage for more easing in December.

United Kingdom

UK bank 'blocks accounts' of Russia's state-run RT broadcaster

The editor-in-chief of RT, Russia’s state-run broadcaster, claims all of its UK bank accounts have been blocked.

Economy

Financial sector job loss warning over Brexit

Top international bankers warn they could start moving staff out of Britain by next year if there's no clarity on UK access to the EU single market.