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Markets

Shares rise, pound drops on UK stimulus measures

UK finance minister Philip Hammond has welcomed the stimulus measures announced by the Bank of England; in reaction London's FTSE 100 share index rose and the pound fell in value.

United Kingdom

Bank of England cuts the cost of borrowing to counter economic effects of Brexit vote

The UK's central bank has cut its base interest rate for the first time in seven years, from 0.5 percent to 0.25 percent - a new record low

Business Series

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.

Business Series

HSBC to buy back shares amid profit slump

HSBC.,Europe's biggest bank, just reported a 29 percent drop in pretax profits for the first half of 2016 and will buy back $2.5 billion worth of shares.

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Economy

Prime Minister Renzi tries to sound confident about Italian banking crisis

Italy's Prime Minister Matteo Renzi has been talking up the country's third largest bank, Banca Monte dei Paschi di Siena, even after it received the worst score in Europe-wide stress tests.

Markets

Rogue UBS trader Kweku Adoboli warns his crimes 'could happen again'

Former rogue UBS trader Kweku Adoboli warns banks are still pressuring employees to make profits "no matter what" and his crimes could be repeated.

World News

One of world's oldest banks fares worst in EBA stress tests

One of the world’s oldest banks has fared worst in the European Banking Authority’s latest stress tests.

Italy

Italy's Monte dei Paschi bank among poor performers in latest in EU stress test

Banks from Italy, Ireland, Spain and Austria have come out worst in the latest European Union stress test.

Economy

Spanish banks' non-performing loans down again

Spanish banks' problem loans fell in May - the 18th straight month that they have dropped.

USA

Ex EU Commission chief's bank job sparks fury and calls for reform

France is calling for the EU to tighten rules on commissioners taking appointments after leaving office.

Economy

Bank of England's Carney defends Brexit warnings

Accused of putting out "scare stories" and "phony forecasts" before the EU referendum, Bank of England Governor Mark Carney has defended warnings about the economic risks of Brexit.

Economy

Call for 150 billion euros bailout fund for European banks

Deutsche Bank's chief economist David Folkerts-Landau wants the European Union to set up a 150 billion euro rescue fund to recapitalise European banks and address "one crisis after another".

World News

Goldman Sachs hires former EU chief Barroso

Goldman Sachs (GS.

Economy

Italian banking crisis looms

A mountain of bad debts and a lack of capital reserves are fueling an Italian banking crisis, which has been thrown into sharp focus by Britain's vote to leave the European Union.

Economy

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.

Economy

Bank of Japan holds back on further economic stimulus

The Bank of Japan held back from offering any further economic stimulus, despite weak inflation and poor global growth.

Economy

Russia cuts cost of borrowing as inflation falls

Russia's central bank has cut its main interest rate by 0.5 percent to 10.5 percent, signaling confidence by its policymakers that inflation risks are declining.

Germany

Secretive Bilderburg Meetings open in Dresden

It has been dubbed the world’s most high-powered but secretive annual meeting where bankers mingle with politicians.

Economy

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.

Business Series

French rogue trader Kerviel wins wrongful dismissal case

French bank Societe Generale has been ordered to pay rogue trader Jerome Kerviel compensation for wrongfully firing him even though he cost them almost five billion euros.