Europe

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Putting the Cart Before the Horse in Euro’s Oldest Fight

For all the ambitious talk of creating new institutions to beef up the eurozone, Brussels is still struggling to agree on the basics of monetary union: the rules.  Budgetary rules on government debt and deficits underpin the single currency, the Financ ...

Daily Headline - global.abi.org - 11/16/2017 - 23:48 - 0 comments

Russia, Venezuela Sign Deal on $3.15 Billion Restructuring

Russia signed an agreement to restructure $3.15 billion of debt owed by Venezuela, throwing a lifeline to a crisis-wracked ally that’s struggling to repay creditors, Bloomberg News reported. The pact gives Venezuela some much-needed breathing room as it ...

Daily Headline - global.abi.org - 11/15/2017 - 23:38 - 0 comments

Greece Offers Bond Swap in a Charge Toward Financial Freedom

Greece, long the problem child of the eurozone, took a major step on Wednesday toward securing financial independence as it prepares to wean itself off the international bailouts that have kept it afloat for the last eight years, the International New ...

Daily Headline - global.abi.org - 11/15/2017 - 23:40 - 0 comments

A Specter Is Haunting Europe’s Recovery: Zombie Companies

Italian clothing maker and retailer Stefanel SpA became famous for its knitted coats and cardigans. Many economists, investors and bankers know Stefanel as something starkly different: a zombie company. It has posted an annual loss for nine of the last 1 ...

Daily Headline - global.abi.org - 11/15/2017 - 23:41 - 0 comments

Lufthansa Offers 250 Million Euros to Take on Most of Alitalia's Fleet, Half of Staff

Germany’s Lufthansa has offered 250 million euros ($294 million) to take on most of Alitalia’s fleet of aircraft and half of its staff, a source close to the matter said on Tuesday. Alitalia, which has made a profit only a few times in its 70-year histor ...

Daily Headline - global.abi.org - 11/14/2017 - 22:52 - 0 comments

Bank Deposits No Longer Off Limits as ECB Seeks Power to Freeze

The European Central Bank intensified its push for a tool that would hand authorities the power to stop deposit withdrawals when a bank is on the verge of failing, Bloomberg News reported. ECB executive board member Sabine Lautenschlaeger said that bank ...

Daily Headline - global.abi.org - 11/14/2017 - 22:55 - 0 comments

Rosneft Reports Lower Than Expected 81% Profit Rise

Shares in the company were down 4.3 per cent by 5pm in Moscow, after opening higher. Rosneft said its ratio of assets to liabilities fell to 0.52 in the quarter, from 1.17 a year previously, after liabilities more than doubled to $60.4bn and assets fell slightly, following big investments in India, Iraqi ...

Daily Headline - global.abi.org - 11/14/2017 - 22:55 - 0 comments

Eurozone Industrial Production Growth Slows in September

Eurozone industrial production growth slowed slightly in September after a bumper annual reading in August, the Financial Times reported. Seasonally adjusted production rose 3.3 per cent from a year earlier, according to official eurozone data agency ...

Daily Headline - global.abi.org - 11/14/2017 - 22:56 - 0 comments

EU Heaps Praise on Greek Reforms as Post-Bailout Reckoning Nears

The European Commission talked up Greece’s reform drive, as creditors are beginning to prepare for a discussion on what a post-bailout landscape could look like for the debt-ridden state, Bloomberg News reported. “Greece has undertaken significant reform ...

Daily Headline - global.abi.org - 11/13/2017 - 23:19 - 0 comments

After Their Own Debt Binge, Europe Loan Collectors Seen at Risk

money instead of earnings, said Bybrook Capital, a $1.4 billion hedge fund that’s betting against them. ...

Daily Headline - global.abi.org - 11/12/2017 - 22:46 - 0 comments

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