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Spain's Bank Fund Says Will Not Bail Out BPA's Banco Madrid

Spain's bank restructuring fund (FROB) said late on Wednesday it would not bail out the Spanish affiliate of Andorra's Banca Privada d'Andorra (BPA) Banco Madrid, clearing the way for insolvency proceedings at the lender, Reuters reported. ...

Daily Headline - global.abi.org - 03/19/2015 - 22:33 - 0 comments

Spanish Court Suspends Banco Madrid Insolvency Proceedings

A Spanish court on Tuesday said it was suspending insolvency proceedings at Banco Madrid while it waited for guidance from the country's bank restructuring fund FROB on whether it wanted to wind down or restructure the lender, Reuters reported. FROB ...

Daily Headline - global.abi.org - 03/17/2015 - 20:48 - 0 comments

Banco de Madrid Files for Bankruptcy Protection

Banco de Madrid, a small Spanish bank, filed for bankruptcy protection on Monday after a United States government report last week accused its parent company in Andorra of laundering money on behalf of organized crime groups in China and Russia, as well ...

Daily Headline - global.abi.org - 03/16/2015 - 20:00 - 0 comments

Spanish Lender Offers to Buy TSB Banking Group of Britain

TSB Banking Group, the lender spun out of Lloyds Banking Group last year, said on Thursday that it had received a preliminary takeover offer from Banco Sabadell of Spain, the International New York Times DealBook blog reported. The deal, if completed ...

Daily Headline - global.abi.org - 03/12/2015 - 22:56 - 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 - 22:36 - 0 comments

Spanish Court Rejects State Bailout For Bankrupt Motorways

A Spanish court has rejected a government proposal to rescue two of nine bankrupt motorways, increasing the likelihood the toll roads will go into liquidation and the state will have to assume their debt of more than 4 billion euros ($4.5 billion), Reute ...

Daily Headline - global.abi.org - 02/26/2015 - 21:57 - 0 comments

Spain’s Turnaround Plan to Offer Tax Relief

Spain’s government, predicting strong economic growth after years of harsh spending cutbacks, will offer tax breaks to encourage long-term hiring and help struggling single-parent families, Prime Minister Mariano Rajoy said Tuesday, The Wall Street Jou ...

Daily Headline - global.abi.org - 02/24/2015 - 21:50 - 0 comments

Caixabank of Spain Issues Takeover Bid for BPI of Portugal

Caixabank of Spain issued a takeover bid on Tuesday for BPI, a Portuguese bank in which it was already the largest investor, in the latest chapter in the shake-up of Portugal’s banking sector, the International New York Times DealBook blog reported. ...

Daily Headline - global.abi.org - 02/17/2015 - 23:53 - 0 comments

Spanish Antiausterity Party Podemos Holds Massive Rally in Madrid

An upstart leftist party gathered tens of thousands of followers Saturday for one of Spain’s largest antiausterity rallies in years, throwing down a populist challenge to a government already facing a secessionist movement in wealthy Catalonia, The Wal ...

Daily Headline - global.abi.org - 02/01/2015 - 23:37 - 0 comments

Spain’s Top Cities Show Signs of Housing Recovery

Spain’s residential real-estate recovery is a tale of two cities: Madrid and Barcelona, The Wall Street Journal reported. Barcelona is the only city in Spain to post an annual increase in home prices during 2014. Prices in the city rose 2.8%, with so ...

Daily Headline - global.abi.org - 01/20/2015 - 23:25 - 0 comments

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