Two Total refineries in France to shut down over strikes
PARIS (Reuters) – Striking Total workers have voted to shut down two oil refineries run by the French oil company due to a row with management over annual pay rises, union representatives told Reuters on Sunday.
Swiss banker in eye of U.S. tax evasion storm to face court
MILAN/BOLOGNA (Reuters) – For years, former top Swiss banker Raoul Weil had U.S. charges for allegedly helping rich Americans avoid tax hanging over him.
Exclusive: Euro zone to share costs of bank closures gradually – proposal
BRUSSELS (Reuters) – The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU propo…
Analysis: Little respite seen for U.S. municipal bonds in 2014
WASHINGTON (Reuters) – The withering U.S. municipal bond market will shrink even more well into 2014, with interest rate and credit risks keeping both investors and borrowers away.
London financiers plan low key Christmas parties
LONDON (Reuters) – With an ever-lengthening list of scandals and a number of banks still reliant on the public purse, the 2013 Christmas party season for London’s financiers is about decency over debauchery.
Egypt to repay part of debt to oil companies in Egyptian pounds
CAIRO (Reuters) – Egypt will pay $300 million of the money it owes to foreign oil companies in Egyptian pounds, a Finance Ministry statement said, as part of a $1.5-billion repayment scheme designed to revive confidence in its economy battered by years…
UBS chief says Swiss plan to raise leverage ratio is unrealistic
GENEVA (Reuters) – Switzerland’s plan to raise the leverage ratio required of banks is unrealistic, the chief executive of top Swiss bank UBS said in a newspaper interview published on Sunday.
Exclusive: Euro zone to share costs of bank closures gradually – proposal
BRUSSELS (Reuters) – The cost of closing down a euro zone bank will initially be borne almost fully by its home country, but the obligations of euro zone partners will gradually rise to be shared equitably after 10 years, under the terms of an EU propo…
BlackRock doubles Telecom Italia stake ahead of key EGM
MILAN (Reuters) – BlackRock Inc , the world’s biggest money manager, has become the second-largest shareholder in Telecom Italia , giving it a potentially pivotal role in a shareholder vote on whether to oust the board of the Italian telecoms firm.
ECB’s Weidmann urges Greece to stick to painful reforms: paper
ATHENS (Reuters) – Greece must stick to painful reforms that are yielding results to make its economy competitive and help it exit its economic crisis, the head of the German central bank told Sunday’s Kathimerini newspaper.
