Bad debts at Italian banks rise further in July: BOI
MILAN (Reuters) – Bad debts at Italian banks rose 22.2 percent in July from a year earlier, Bank of Italy data showed on Monday, highlighting the impact that a prolonged economic recession is having on banks’ loan portfolios.
Euro zone sentiment turns positive for first time in over two years
BERLIN (Reuters) – Euro zone sentiment turned positive for the first time in more than two years in September as investors welcomed the end of the bloc’s recession and became increasingly upbeat about their current situation and outlook, a survey showe…
China Aug inflation another sign economy is stabilizing
BEIJING (Reuters) – Muted inflation data on Monday added to a run of August figures suggesting the protracted slowdown in China’s economy may be bottoming out, helped by targeted support measures and signs of improved export demand.
Monte Paschi doubles planned capital hike to 2.5 billion euros
ROME/MILAN (Reuters) – Italy’s Monte dei Paschi di Siena will seek 2.5 billion euros ($3.3 billion) in fresh capital from investors to shore up its finances, an amount that is more than double its original plan and makes nationalization more likely sho…
PetroChina says report of more probes ‘inaccurate’, shares rise
HONG KONG/BEIJING (Reuters) – Shares in Chinese oil producer PetroChina Co Ltd rose as much as 1.7 percent when they resumed trade on Monday, after the company said a newspaper report that more of its executives were being investigated was inaccurate.
Bank of France raises growth forecast slightly
PARIS (Reuters) – France should post economic growth of 0.2 percent in the third quarter, the Bank of France said on Monday, revising its forecast up slightly from a first estimate of 0.1 percent.
Japan Q2 GDP revised up sharply, boosts case for tax hike
TOKYO (Reuters) – Japan’s economy expanded much faster than initially expected in the second quarter, adding to growing signs of a solid recovery taking hold and fortifying the case for Prime Minister Shinzo Abe to proceed with a planned sales tax hike…
BMW eclipses car show rivals with three-level indoor test track
FRANKFURT (Reuters) – BMW has built a 300-meter, three-level indoor test track at this year’s Frankfurt motor show – all to outshine German arch-rivals Audi and Mercedes-Benz as it battles to stay in pole position in the world’s luxury car market.
China locks foreign investors out of another bad-debt cleanup
HONG KONG (Reuters) – Chinese banks have a colossal mess of bad debts to clean up for the second time in as many decades, but they are unlikely to call in the financial world’s most efficient mop and broom.
Swiss Re sees stable natural catastrophe pricing rates in 2014
ZURICH (Reuters) – Swiss Re expects natural catastrophe pricing rates to stabilize in 2014 after a decline this year, with demand for the cover doubling by 2020 in high-growth markets.
