Greece expects economy to shrink 3.8 percent in 2013: report
ATHENS (Reuters) – Greece’s finance ministry expects its economy will shrink by up to 3.8 percent in 2013, beating a 4.2 percent contraction forecast by its international lenders, financial daily Naftemporiki reported on Thursday without citing sources…
UK banks could need extra 50 billion pounds under ‘Basel IV’: KPMG
LONDON (Reuters) – UK banks could need an extra 50 billion pounds to deal with extra capital requirements being layered on top of the incoming ‘Basel III’ package of global banking regulations, consultancy KPMG warned on Tuesday.
Spain August final CPI 1.5 percent vs. 1.8 percent in July
MADRID (Reuters) – Spanish national consumer prices rose 1.5 percent year-on-year in August according to data from the National Statistics Institute on Thursday, compared to 1.8 percent in July and a Reuters forecast of 1.5 percent.
Exclusive: Societe Generale said to explore sale of Asia private bank
SINGAPORE/HONG KONG (Reuters) – Societe Generale, France’s No. 2 listed bank, is exploring the sale of its Asia private banking arm, people familiar with the matter told Reuters, seeking to exit a market where small managers are getting hit by rising c…
Analysis: Five years after Lehman, risk moves into the shadows
NEW YORK (Reuters) – Just days after UBS AG said that it would gut its fixed-income trading business last October, three of the Swiss bank’s senior executives left to launch a firm to go where big banks won’t anymore.
U.S. solar panel installations up 15 percent in second quarter: report
LOS ANGELES (Reuters) – The United States installed 832 megawatts of photovoltaic solar panels in the second quarter, a 15 percent increase from the prior period as booming business for utility-scale systems helped offset weaker demand for residential …
U.S. cigarette makers lose disputes with nine states in tobacco deal
(Reuters) – U.S. cigarette makers lost a bid to reduce payments to nine states that were part of a landmark 1998 tobacco settlement, an arbitration panel ruled on Wednesday.
U.S. told GM to selectively fund pensions: former official
WASHINGTON (Reuters) – The former head of President Barack Obama’s auto task force acknowledged on Wednesday that he instructed General Motors not to commit money to a pension fund for some former employees during the automaker’s 2009 bankruptcy.
Facebook shares break $45 for first time since 2012 IPO
SAN FRANCISCO (Reuters) – Shares of Facebook Inc rose more than 3 percent to a new high Wednesday, valuing the world’s No. 1 social network at $106 billion, as investors focused on its recent mobile advertising advances and the potential to expand ad r…
Umpqua to buy Sterling Financial in $2 billion deal
NEW YORK (Reuters) – Umpqua Holdings Corp has agreed to buy private-equity backed Sterling Financial Corp in a $2 billion cash-and-stock deal, the companies said on Wednesday.
