Resources Per Country
- Czech Republic
- Isle of Man
- San Marino
- United Kingdom
- Vatican City
- Bosnia and Herzegovina
Spain’s government approved an 11 billion-euro ($13 billion) plan to help companies pay down debts accumulated during the pandemic, Economy Minister Nadia Calvino said, Bloomberg reported. The package, which has three parts, will leave companies better poised for the economic recovery, Calvino told journalists during a televised news conference on Friday. The announcement is the latest example of how European governments are accelerating plans to prevent defaults and corporate bankruptcies as businesses struggle to survive extended pandemic restrictions.
U.S. private equity company Apollo Global Management has ended talks with the administrators of British financing company Greensill after a JPMorgan investment in Greensill’s technology partner, Reuters reported. Greensill, which filed for insolvency earlier this week after losing the support of its main backers, employed around 1,000 people in the UK. Apollo was negotiating a $60 million acquisition of Greensill’s operating assets via its insurance arm Athene, the company said in its insolvency filing in a UK court earlier this week.
Romania’s central bank bought bonds on the secondary market this week, triggering a rally in the country’s government debt and prompting the cabinet to sell more debt than planned at domestic auctions, Bloomberg News reported. The bank purchased about 150m lei ($36 million) of local-currency government bonds from commercial lenders on March 8 and 9 in an attempt to rein in a spike in yields since mid-February. It was active for the first time since August, buying notes due July 2025 and January 2028, among others, the people said.
Close scrutiny of UK financial firms’ European Union outposts will continue indefinitely, the bloc’s securities watchdog said, as regulators begin a round of new checks on how they are operating, Reuters reported. Hundreds of trading and investment firms from the City of London have set up shop in the EU to avoid disrupting business with the bloc by relocating staff and assets. The costly investment was vindicated by an UK-EU trade deal that left UK financial services largely cut off from the continent after Britain left the EU’s orbit on Dec. 31.