Europe

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Cabot, Ifis Are Said in Talks to Buy Italy Debt Collector FBS

Banca Ifis SpA and Cabot Credit Management Plc are among four firms in talks to buy FBS, an Italian manager of more than 8 billion euros ($9.9 billion) of non-performing loans, people with knowledge of the matter said. The sale comes as NPL investors are ...

Daily Headline - global.abi.org - 04/20/2018 - 00:11 - 0 comments

Delta Drone Investors Fined for Insider Trades on Financial Woes

A pair of investors in Delta Drone were fined a combined 600,000 euros ($520,000) for selling shares when they had non-public information in 2014 about the company’s financial difficulties, Bloomberg News reported. The Autorite des Marches Financiers fin ...

Daily Headline - global.abi.org - 04/18/2018 - 22:58 - 0 comments

Beaufort Securities Insolvency Could Cost Up to £100 Million

Administrators for Beaufort Securities, the disgraced UK broker that was closed down by regulators in March, have said it could cost as much as £100m to return the cash and assets held by the company, currently valued at £550m, to its thousands of privat ...

Daily Headline - global.abi.org - 04/18/2018 - 22:59 - 0 comments

IMF Sounds Alarm on Excessive Global Borrowing

The world’s $164tn debt pile is bigger than at the height of the financial crisis a decade ago, the IMF has warned, sounding the alarm on excessive global borrowing, the Financial Times reported. The fund said the private and public sectors urgently ...

Daily Headline - global.abi.org - 04/18/2018 - 23:00 - 0 comments

Countdown Starts for Latest Greek Bank Stress Test Results

The European Central Bank will probably announce the stress-test results for Greece’s four largest banks on May 4 or May 5, leaving more than three months to sort out any problems before the ... Central Bank will probably announce the stress-test results for Greece’s four largest banks on May 4 or ...

Daily Headline - global.abi.org - 04/18/2018 - 00:47 - 0 comments

Another Blow-Up Shows Why It's Buyer Beware for Nordic Junk Debt

The least corrupt countries in Europe are home to its most dangerous bond market. Debt issued in Nordic nations requires no credit rating or due diligence, Bloomberg News reported. Companies can claim more or less what they like when selling new debt, ac ...

Daily Headline - global.abi.org - 04/18/2018 - 00:48 - 0 comments

Landmark Bad Loan Deal Boosts Italy Bank Stocks and Govt Bonds

Italian banking stocks rallied and bonds rose on Tuesday after the country's biggest lender, Intesa Sanpaolo, agreed a bad loan sale at favourable conditions, which investors say could help other lenders achieve better terms and boost lending, the ...

Daily Headline - global.abi.org - 04/18/2018 - 00:49 - 0 comments

FSCS Declares London Broker in Default

The Financial Services Compensation Scheme has declared mortgage broker Blevins Franks Mortgage Services in default. Blevins Franks was a trading name of Mortgage Partner Services Limited of Regents Park Road, London. The firm has also traded as Blacksto ...

Daily Headline - global.abi.org - 04/18/2018 - 00:52 - 0 comments

British Businesses Aren't Backing a Second Brexit Vote

The plot to reverse Brexit is missing a key ally: U.K. business. Companies have been among the most outspoken critics of the split from the European Union, and many have much to lose from the divorce. But as a group of lawmakers tries to engineer a secon ...

Daily Headline - global.abi.org - 04/16/2018 - 22:39 - 0 comments

Britain Reviews Powers Of Its Accounting Watchdog

Britain has launched a “root and branch” review of its audit watchdog after corporate scandals raised questions about its ability to police how accountants check the books of companies, Reuters reported. The independent review of the Financial Reporting ...

Daily Headline - global.abi.org - 04/16/2018 - 22:40 - 0 comments

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