Europe

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Ukraine Withdraws Weapons Amid Debt Restructuring Moves

Ukraine pledged to remove heavy weapons from conflict-hit eastern areas as public finances ruined by the war made it necessary to start restructuring public debt, Bloomberg News reported. The truce agreed in Minsk last month has largely held, with some s ...

Daily Headline - global.abi.org - 03/04/2015 - 23:11 - 0 comments

With Negative Rates, Europe Is Entering a No-Default World

In a world of negative interest rates, it certainly pays to be a borrower, Shakespeare’s concerns notwithstanding, the International New York Times DealBook blog reported. But such a world is a strange place, especially for a restructuring lawyer. Up ...

Daily Headline - global.abi.org - 03/04/2015 - 23:12 - 0 comments

SFO Launches Investigation Into Bank Of England Liquidity Auctions

The Bank of England is facing an unprecedented criminal investigation by the Serious Fraud Office over emergency lending measures it took at the height of the credit crisis to inject cash into financial markets, The Guardian reported. In late 2007 an ...

Daily Headline - global.abi.org - 03/04/2015 - 23:13 - 0 comments

Media Executives And Journalists To Appear Before Banking Inquiry

A number of current and former media executives will appear before the Oireachtas Banking Inquiry later this month as it continues its investigation into the collapse of the financial sector here in late 2008 and its subsequent rescue by the State, the ...

Daily Headline - global.abi.org - 03/04/2015 - 23:13 - 0 comments

Ukraine Central Bank Raises Key Rate to 30%

The central bank pushed lending rates even higher Tuesday in an attempt to stabilize Ukraine’s beleaguered currency and hold its financial system together until promised international loans arrive later this month, The Wall Street Journal reported. T ...

Daily Headline - global.abi.org - 03/03/2015 - 21:35 - 0 comments

RBS Could Cut 14,000 Staff In Retreat From US And Asia

As many as 14,000 staff in the investment banking arm of Royal Bank of Scotland face the axe in the coming years as the bailed-out bank retrenches from its expansion into the US and Asia, The Guardian reported. The scale of the cutbacks – which would ...

Daily Headline - global.abi.org - 03/03/2015 - 21:35 - 0 comments

The Insolvency Regime Needs To Be ‘Energised’ Because Not Enough People Are Using It

In the face of growing criticism of the current personal insolvency laws, the government has acknowledged that the current regime needs to be “energised”, TheJournal.ie reported. The coalition will oppose Fianna Fáil’s Family Home Mortgage Settlement Arr ...

Daily Headline - global.abi.org - 03/03/2015 - 21:36 - 0 comments

Spanish Official Says Greece Seeking Third Bailout

A political clash between Spain and Greece deepened after a top Spanish official said Greece is negotiating a third bailout with the European Union, a claim denied by a representative of the eurozone’s finance ministers, The Wall Street Journal repor ...

Daily Headline - global.abi.org - 03/02/2015 - 21:36 - 0 comments

Heta Creditors May Face Haircuts, Insolvency

Creditors of Austrian "bad bank" Heta Asset Resolution may face debt haircuts or the prospect of having the wind-down vehicle for defunct lender Hypo Alpe Adria eventually go bankrupt, the co-head of Austria's financial watchdog said, Reut ...

Daily Headline - global.abi.org - 03/02/2015 - 21:36 - 0 comments

UK Bank Bosses More Bullish On Bonuses

Barclays chief executive Antony Jenkins is on Tuesday set to accept his first bonus since taking charge three years ago, in a sign that bankers are showing less restraint even though pay remains a political flashpoint, the Financial Times reported. O ...

Daily Headline - global.abi.org - 03/02/2015 - 21:37 - 0 comments

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