Results for Portugal
- Novo Banco Looks To Boost Capital With Discounted Senior Tender
Novo Banco is seeking to buy back up to 500m of senior debt, some of which is held by retail investors, at a discount to par as it looks to bolster its balance sheet, Reuters reported. The Portuguese bank has launched a discounted cash tender offer on ei ...
Daily Headline - global.abi.org - 06/23/2016 - 23:00 - 0 comments
- EU Delays Decision on Spain and Portugal Over Deficit Breaches
The European Commission has put off a contentious decision on imposing financial sanctions on Spain and Portugal for failing to bring their budget deficits within European Union rules, saying it would revisit the issue in July, after Spain had held a gen ...
Daily Headline - global.abi.org - 05/18/2016 - 21:01 - 0 comments
- Portugal Loses UK Court Battle Over ‘Toxic’ Derivatives
Portugal faces potential liabilities of more than €1.5bn after losing a British court battle over derivatives that Lisbon has challenged as “toxic”, the Financial Times reported. State-owned transport companies have for more than two years withheld p ...
Daily Headline - global.abi.org - 03/07/2016 - 21:39 - 0 comments
- Novo Banco Decision Adds to Letdowns in Default-Swap Market
Investors facing huge losses on Novo Banco SA bonds suffered another defeat, Bloomberg News reported. The group that oversees the credit-default swaps market declined to amend any contracts insuring the Portuguese bank’s debt, probably killing off swapho ...
Daily Headline - global.abi.org - 03/02/2016 - 21:42 - 0 comments
- EU Accepts Portugal’s 2016 Draft Budget After Tax Tweaks
The European Commission approved Portugal’s 2016 draft budget yesterday after the new Socialist government promised to hike indirect taxes to meet EU budget rules while also easing austerity to keep its leftist allies happy, the Irish Times reported. ...
Daily Headline - global.abi.org - 02/07/2016 - 20:51 - 0 comments
- Portugal’s Anti-Austerity Budget Provokes Brussels Showdown
Portugal’s new Socialist government faces an embarrassing rejection of its first “anti-austerity” budget by the European Commission on Friday as eleventh-hour talks failed to break a stalemate over additional cuts needed to bring Lisbon in line with EU d ...
Daily Headline - global.abi.org - 02/04/2016 - 22:41 - 0 comments
- EU Questions Portugal’s 2016 Budget Plan
The European Commission on Wednesday raised questions about Portugal’s budget plan for this year, a move that could put pressure on the government to soften its antiausterity agenda, The Wall Street Journal reported. In a letter dated Jan. 26 and add ...
Daily Headline - global.abi.org - 01/27/2016 - 21:47 - 0 comments
- Portugal’s Government Plans to Reverse Wage Cuts
Portugal’s newly appointed Socialist government said Friday that it will reverse public wage cuts and lower some taxes this year, but it will still manage to cut the country’s budget deficit by increasing other taxes and projecting higher economic growth ...
Daily Headline - global.abi.org - 01/24/2016 - 23:48 - 0 comments
- Portugal Offers Investors In Novo Banco Compensation To Quell Anger
Portugal’s central bank has offered to partly compensate Novo Banco bondholders who lost money when their securities were transferred to a “bad bank” last month in a bid to ease tensions with the government and furious international investors, the Fina ...
Daily Headline - global.abi.org - 01/20/2016 - 23:04 - 0 comments
- New Bank Challenge for Portugal
Portugal faces fresh concerns relating to one of its smaller banks after shares in Banif tumbled Monday amid concerns about its ability to pay back loans it received in a bailout of the country’s banking sector, the International New York Times repor ...
Daily Headline - global.abi.org - 12/14/2015 - 23:18 - 0 comments