Lloyds readies sale of German insurer: source
LONDON (Reuters) – Lloyds Banking Group is readying a sale of its German life insurance business, a source with knowledge of the matter said, as the British state-backed bank exits overseas markets to focus on lending at home.
Bund yields hit 17-month high, rupee slumps
LONDON (Reuters) – Rising expectations the Federal Reserve will soon scale back its stimulus drove German and U.S. bond yields to multi-month highs on Monday and dealt a blow to emerging markets, with India’s rupee cartwheeling to historic lows.
Alibaba in talks with HKEx on ownership structure ahead of IPO: sources
HONG KONG (Reuters) – Alibaba Group Holding Ltd is in talks with the Hong Kong stock exchange about allowing its founders to maintain control over the Chinese e-commerce company even after it becomes listed, people familiar with the matter told Reuters…
Greek tourism receipts surge in June, boosts hopes for season
ATHENS (Reuters) – Spending by tourists in Greece surged in June, central bank data showed on Monday, confirming forecasts that a record summer season could give the debt-laden country a welcome injection of foreign cash.
Poles ready to shrug off shortest of European downturns
WARSAW (Reuters) – Only months after a stagnant winter marked the end of one of Europe’s few recent economic success stories, financial experts are increasingly convinced Poland is mounting a robust recovery.
Key Euribor rate steady as ECB rate cut hopes dim
FRANKFURT (Reuters) – The key Euribor bank-to-bank lending rate held steady on Monday as expectations of an ECB interest rate cut faded after data last week showed the euro zone exited recession in the second quarter.
Spanish banks’ bad loan ratio rises to record in June
MADRID (Reuters) – Spanish banks’ bad loans as a percentage of total credit rose to a fresh high of 11.6 percent in June, Bank of Spain data showed on Monday, as more households and small companies, particularly those from the property sector, struggle…
Rupee, rupiah lead emerging market slide on Fed fears
MUMBAI/JAKARTA (Reuters) – India’s rupee crashed to a record low and the Indonesian rupiah hit a 4-year trough on Monday, as the expected withdrawal of U.S. monetary stimulus prompts investors to shun emerging markets burdened by weak external balances…
Greek current account surplus widens in June, helped by tourism
ATHENS (Reuters) – Greece’s current account surplus widened in June, helped by a smaller trade gap and surging tourism receipts, the Bank of Greece said on Monday.
India does not need an IMF credit line: World Bank economist
(Reuters) – India does not need to seek a line of credit from the International Monetary Fund (IMF) to help fix the economy, World Bank chief economist Kaushik Basu said in New Delhi on Monday, on the same day the rupee fell to another record low.
