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Italian Finance Minister Reassures Over Liquidity of Troubled Banks

Italy’s troubled mid-sized lenders Banca Popolare di Vicenza and Veneto Banca have “all the public guarantees necessary” to shore up their liquidity, Italy’s finance ministry said in a statement on Thursday. Pier Carlo Padoan, finance minister, made the ...

Daily Headline - global.abi.org - 05/25/2017 - 17:34 - 0 comments

Seadrill Jumps as Debt Talks Progress and Dibowitz Named CEO

Seadrill Ltd. jumped as much as 26 percent as the offshore driller controlled by John Fredriksen said it’s getting closer to a solution to restructure the industry’s heaviest debt load and that it’s promoting a company insider to chief executive officer, ...

Daily Headline - global.abi.org - 05/24/2017 - 22:40 - 0 comments

Marks and Spencer Pre-Tax Profit Thumped by Restructuring Costs, Impairments

Marks and Spencer’s pre-tax profits fell by 64 per cent in the year to April 1, dragged down by restructuring costs, property impairments and lower clothing sales as the high street fixture turned away from a packed calendar of promotional events, the ...

Daily Headline - global.abi.org - 05/24/2017 - 22:41 - 0 comments

ECB Plays Down Brexit Threat to Eurozone Economy

The European Central Bank has ruled out the possibility that Brexit could pose a major threat to the euro area economy, rejecting warnings from the Bank of England that a messy UK withdrawal could leave EU companies without vital services, the Financia ...

Daily Headline - global.abi.org - 05/24/2017 - 22:43 - 0 comments

IMF and Eurozone Explore Cash Lifeline for Greece

Eurozone finance ministers and the International Monetary Fund are exploring a compromise plan for Greece’s bailout that would provide much-needed funds this summer while delaying sensitive talks on debt relief, the Financial Times reported. Diplomat ...

Daily Headline - global.abi.org - 05/23/2017 - 20:48 - 0 comments

Ryanair Says Wants to Take Alitalia Routes, Not Buy Airline

Irish airline Ryanair is ready to deploy up to 30 planes in Italy to replace capacity lost if Alitalia collapses or is restructured but does not want to buy the struggling Italian carrier, Chief Executive Michael O'Leary said on Tuesday. Ryanair ...

Daily Headline - global.abi.org - 05/23/2017 - 20:48 - 0 comments

A Eurozone Bond Solution With Its Own Problems

In the eurozone, sometimes everything old is new again. Witness how an idea for creating safe eurozone bonds devised in the heat of the sovereign crisis six years ago is reappearing as a solution to a very different problem, The Wall Street Journal r ...

Daily Headline - global.abi.org - 05/23/2017 - 20:49 - 0 comments

Greek Debt Relief Talks Break Down After Seven Hour Eurogroup

Greece’s creditors failed to reach a deal on debt relief during seven hours of talks on Monday night, leaving the eurozone locked in a race to finish negotiations before Athens faces crippling debt repayments in July, the Financial Times reported. Ta ...

Daily Headline - global.abi.org - 05/23/2017 - 00:00 - 0 comments

Give Emmanuel Macron Time to Develop Eurozone Reforms

There were sighs of relief in Germany when France elected Emmanuel Macron as president, but his victory also triggered a debate over his reform plans for the eurozone, the Financial Times reported. His critics claim that President Macron wishes to tu ...

Daily Headline - global.abi.org - 05/23/2017 - 00:00 - 0 comments

EU Underlines Portugal’s Recovery From Debt Crisis

Portugal’s recovery from the eurozone’s debt crisis reached a milestone on Monday as the EU said the country, which needed an international bailout, was no longer in breach of the bloc’s budget rules, the Financial Times reported. Brussels’ verdict u ...

Daily Headline - global.abi.org - 05/23/2017 - 00:01 - 0 comments

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