Europe

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Petroceltic Investors Wiped Out Under Examinership Scheme

Worldview Capital, the Swiss-Cayman Islands hedge fund that is buying Petroceltic International out of examinership, is gaining full control of the business for a knockdown cash payment of $7.8 million, the Irish Times reported. Creditors of Petrocel ...

Daily Headline - global.abi.org - 05/27/2016 - 01:43 - 0 comments

Greek Debt Deal Reflects Shifting Powers Among IMF Members

The International Monetary Fund stepped back from confrontation on Greece this week — to the delight of eurozone policy-makers above all in Berlin, the Financial Times reported. After months of squaring up against Germany over the fund’s insistence o ...

Daily Headline - global.abi.org - 05/27/2016 - 01:44 - 0 comments

Shares in Spain’s Banco Popular Plunge on $2.8 Billion Rights Issue

trading Thursday morning in Madrid, sending the lender’s market capitalization down to €4.1 billion. The ...

Daily Headline - global.abi.org - 05/27/2016 - 01:44 - 0 comments

Debenhams Clashes With Roche Family Over Restructuring

Debenhams, the British retail chain with 11 outlets in Ireland employing 2,200 staff, has become embroiled in a row with the Roche family that once owned Roches Stores, the Irish Times reported. Debenhams bought Roches Stores from the Roche family fo ...

Daily Headline - global.abi.org - 05/27/2016 - 01:45 - 0 comments

Deal Between Greek Creditors Doesn’t End Saga

A truce between Greece’s creditors averts an immediate panic over Greek bankruptcy this summer, yet as officials and onlookers digested the deal, it became apparent that less was agreed than meets the eye, The Wall Street Journal reported. The deal, ...

Daily Headline - global.abi.org - 05/26/2016 - 00:54 - 0 comments

‘Brexit’ Could Spell More Austerity for Britain, Study Warns

Prime Minister David Cameron’s campaign to keep Britain in the European Union was bolstered on Wednesday by a report from one of the country’s most authoritative economic research bodies, which concluded that a withdrawal from the bloc would lead to up t ...

Daily Headline - global.abi.org - 05/26/2016 - 00:57 - 0 comments

High Court Confirms Examiner For Debenhams

The High Court has confirmed the appointment of an examiner to the company operating Debenhams eleven stores here, the Irish Times reported. Debenhams Retail (Ireland) Ltd directly employs 1,400 staff while 500 concession staff and 300 cosmetics staf ...

Daily Headline - global.abi.org - 05/26/2016 - 00:58 - 0 comments

Ulster Bank To Sell €875 Million Of Troubled Mortgages

Ulster Bank is lining up the sale of €875 million of troubled mortgages belonging to uncooperative customers who are deep in arrears and litigation, the Irish Times reported. The mortgages, a third of which are against 900 private dwellings, are part ...

Daily Headline - global.abi.org - 05/26/2016 - 00:58 - 0 comments

Swiss Open Criminal Proceedings Against BSI Over Malaysia Fund Allegations

The authorities in Switzerland said on Tuesday that they had begun criminal proceedings against one of the country’s oldest banks, BSI, after allegations that it had laundered huge sums for “politically exposed” individuals linked to a scandal-plagued Ma ...

Daily Headline - global.abi.org - 05/25/2016 - 00:40 - 0 comments

Debt Standoff Hobbles Greek Bailout Talks

Eurozone finance ministers and the International Monetary Fund tried again to resolve a standoff over Greece’s bailout—including how to reduce the country’s mountain of debt—which has held up new aid payments for the country, The Wall Street Journal ...

Daily Headline - global.abi.org - 05/25/2016 - 00:40 - 0 comments

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