Portugal PM says found formula for government stability
LISBON (Reuters) – Portugal’s prime minister has found a way to maintain government stability with the junior partner in the ruling coalition, but the full details still need to be agreed to end a political crisis that has threatened Lisbon’s adjustmen…
ECB, abandoning tradition, commits to record low rates
FRANKFURT (Reuters) – The European Central Bank broke with precedent by declaring it would keep interest rates at record lows for an extended period and may yet cut further, responding to turbulence caused by the U.S. Federal Reserve’s exit plan from m…
ECB, BoE easing signals send shares and bonds higher
LONDON (Reuters) – Clear signals of looser policy ahead from central banks in the UK and Europe on Thursday sent the euro to a five-week low, lifted bond prices and gave a boost to share markets.
ICAP executive seen linked to LIBOR scandal: Wall Street Journal
LONDON (Reuters) – A senior executive at British brokerage firm ICAP PLC knew of an arrangement with UBS AG that U.S. and British regulators allege was part of a scheme to manipulate benchmark interest rates, according to the Wall Street Journal, which…
Rolls-Royce says U.S. lawsuit ‘without merit’
LONDON (Reuters) – British aero engine maker Rolls-Royce Holdings Plc said it was confident a lawsuit brought against it by two former employees would be found to be without merit.
Draghi says rates will remain low for extended period
FRANKFURT (Reuters) – European Central Bank policy will keep interest rates at current or lower levels for an extended period of time, ECB President Mario Draghi said on Thursday, giving financial markets the clearest guidance to date about future rate…
Exclusive: BlueCrest’s BlueTrend hedge fund slumps 16.9 percent
LONDON (Reuters) – BlueCrest Capital Management’s BlueTrend fund, one of the world’s biggest computer-driven hedge funds, has suffered one of its worst ever peak-to-trough losses over the past six weeks.
Austrian jobs on line as retailer Dayli fails
VIENNA (Reuters) – Austrian drug store chain Dayli filed for court-supervised restructuring on Thursday, acknowledging it had failed to deliver on its concept for neighborhood stores and saying nearly 3,500 jobs were at risk.
Emerging markets mania was a costly mistake: Goldman executive
LONDON (Reuters) – Investors who wrongly called time on U.S. economic supremacy during the financial crisis are set to pay a hefty price for betting too much on the developing world, according to a top Goldman Sachs strategist.
Ex-trader Kerviel rebuffed by Paris employment tribunal
PARIS (Reuters) – A Paris employment tribunal on Thursday rejected former Societe Generale trader Jerome Kerviel’s plea for a new expert inquiry to help overturn his dismissal in France’s biggest-ever trading scandal in 2008.
