State-rescued Royal Bank of Scotland on Thursday said its net losses widened to almost £2 billion in 2011, hit by the Greek debt crisis and compensation linked to insurance mis-selling.RBS, 82-percent ...
State-rescued Royal Bank of Scotland on Thursday said its net losses widened to almost £2 billion in 2011, hit by the Greek debt crisis and compensation linked to insurance mis-selling.RBS, 82-percent ...
The French-Belgian bank Dexia, rescued with government support, reported on Thursday a net loss of 11.6 billion euros ($15.4 billion) for 2011, marking a record for French banks.This huge figure is not, ...
- Germany's Commerzbank increases net profit to €316 mln but takes more losses on Greek bonds The Canadian Press - 1 hour 21 minutes ago
By David McHugh, The Associated Press FRANKFURT - Cost cuts and fewer bad loans helped Germany's Commerzbank AG improve fourth-quarter profits by 23 per cent to €316 million ($418 million), at the end ...
- Markets cautious as Greece presses on with reforms and oil price hits 9-month highs The Canadian Press - 2 hours 23 minutes ago
By Pan Pylas, The Associated Press LONDON - Markets were subdued Thursday as Greece pressed ahead with reforms demanded by its creditors in exchange for crucial bailout cash and as tensions rose in the ...
- Europe's banks bleed from Greek debt crisis Reuters - 3 hours ago
Greece's debt problems drove a slew of heavy losses across the European banking sector on Thursday, and bosses warned the euro zone crisis would continue to threaten earnings. From France to Germany, Britain ...
- World stock markets rise as investors fears recede over Greek debt deal The Canadian Press - 4 hours ago
By Pamela Sampson, The Associated Press BANGKOK - World stock markets rose Thursday as fears receded over the viability of a deal reached by European leaders to save Greece from financial collapse and ...
- Insurer Allianz sees net profit fall to €492 million in fourth quarter The Canadian Press - 6 hours ago
By The Associated Press FRANKFURT - German insurer Allianz says its net income fell by more than half to €492 million ($650.92 million) in the fourth quarter, missing analyst estimates. The company made ...
- Germany's Commerzbank increases net profit to €316 million The Canadian Press - 6 hours ago
By David McHugh, The Associated Press FRANKFURT - Cost cuts and fewer bad loans helped Germany's Commerzbank improve fourth-quarter profit to €316 million ($418 million) at the end of a year that saw its ...
- Asian stock markets mostly lower as investors fret over Greek debt deal The Canadian Press - 7 hours ago
By Pamela Sampson, The Associated Press BANGKOK - Asian stock markets were mostly lower Thursday as investors fretted over the details of a deal to save Greece from financial collapse and preserve its ...
- Asian stock markets mostly lower as investors fret over Greek debt deal The Canadian Press - 9 hours ago
By Pamela Sampson, The Associated Press BANGKOK - Asian stock markets were mostly lower Thursday as investors fretted over the details of a deal to save Greece from financial collapse and preserve its ...
- Loonie closes below parity amid weak European data, Fitch Greek downgrade The Canadian Press - 16 hours ago
By Malcolm Morrison, The Canadian Press TORONTO - The Canadian dollar closed below parity for the first time since the end of January as the greenback advanced against other currencies amid data showing ...
- Greek Parliament scrambles to pass austerity, bond swap deal as unions hold protests The Canadian Press - 21 hours ago
By Nicholas Paphitis, The Associated Press ATHENS, Greece - Greece scrambled Wednesday to push through a batch of emergency laws that will further cut incomes and state spending, a day after securing a ...
- Loonie down, greenback advances amid weak European data, Fitch Greek downgrade The Canadian Press - 21 hours ago
By Malcolm Morrison, The Canadian Press TORONTO - The Canadian dollar edged lower Wednesday as the greenback advanced against other currencies amid data showing soft readings on European and Chinese manufacturing. ...
- Toronto market fades into red Baystreet.ca - 21 hours ago
The Toronto stock market was modestly lower Wednesday morning even as commodity prices declined in the wake of weak European and Chinese economic data.The S&P TSX Composite Index faded 0.20 points by midday ...
- Toronto stock market moves higher: commodities dip, Fitch downgrades Greece The Canadian Press - 22 hours ago
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market was modestly higher Wednesday morning even as commodity prices declined in the wake of weak European and Chinese economic data. ...
- Toronto stock market in for lower open: commodities dip, Fitch downgrades Greece The Canadian Press - 23 hours ago
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market looked set for a slightly negative start to the session Wednesday as commodity prices edged lower while the American currency ...
- TSX pokes ahead early on Baystreet.ca - 23 hours ago
Toronto's main stock index experienced a slightly lower open on Wednesday, as weak economic data from Europe and China stoked fears about global growth.The S&P TSX Composite Index added 9.01 points soon ...
- Fitch ratings agency downgrades Greece from CCC to C, indicating default 'highly likely' The Canadian Press - Wed, 22 Feb, 2012 7:05 AM EST
By The Associated Press ATHENS, Greece - Fitch ratings agency says it has downgraded Greece further into junk status, from 'CCC' to 'C' following the announcement of the details of the country's debt swap ...
- Bank of England rate-setters divided this month on size of fresh economic stimulus The Canadian Press - Wed, 22 Feb, 2012 6:20 AM EST
By The Associated Press LONDON - Bank of England rate-setters were divided this month on the vote to inject another 50 billion pounds ($79 billion) into the British economy, with two members arguing that ...
- Dow crosses 13,000 for first time since before 2008 financial crisis The Canadian Press - Tue, 21 Feb, 2012 3:43 PM EST
By Christina Rexrode, The Associated Press NEW YORK, N.Y. - The Dow Jones industrial average crossed 13,000 on Tuesday for the first time since May 2008, when the Lehman Brothers investment bank was solvent, ...
- Exclusive: Greek debt load may get heavier, euro zone study says Reuters - Tue, 21 Feb, 2012 12:45 PM EST
Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, ...
- Greeks' elation at new debt relief is tempered by prospect of years of sacrifice The Canadian Press - Tue, 21 Feb, 2012 12:38 PM EST
By Nicholas Paphitis,Theodora Tongas, The Associated Press ATHENS, Greece - Greeks were torn between relief and foreboding on the news Tuesday that their country has received a new massive bailout — while ...
- In Greece, elation at new debt relief is tempered by prospect of new sacrifices The Canadian Press - Tue, 21 Feb, 2012 11:20 AM EST
By Nicholas Paphitis,Theodora Tongas, The Associated Press ATHENS, Greece - Greeks greeted uneasily the news that their country will receive a new bailout that will likely protect it from a messy debt ...
- A look at the Greece's bailout, the bond swap deal and austerity measures it agreed to take The Canadian Press - Tue, 21 Feb, 2012 9:49 AM EST
By The Associated Press Greece has been granted a second, €130 billion ($172 billion) bailout package and a €107 billion ($142 billion) debt relief deal with private creditors, in exchange for tough austerity ...
- Some questions and answers on the bond swap deal Greece negotiated with private creditors The Canadian Press - Tue, 21 Feb, 2012 2:10 AM EST
By The Associated Press Greece has struck a vital debt relief deal with representatives of private investors to avoid a disastrous default. The agreement will help shield Europe's already weak financial ...
- Second Greek bailout in reach, funding gap narrows Reuters - Mon, 20 Feb, 2012 6:07 PM EST
Euro zone finance ministers inched towards approving a second bailout for debt-laden Greece on Monday that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered ...
- Greece secures $170B bailout, diplomat says CBC - Mon, 20 Feb, 2012 4:27 PM EST
The countries that use the euro have agreed to hand Greece €130 billion ($170 billion) in additional bailout loans, according to an EU diplomat, in the hopes of staving off a default.
- Exclusive: Greek debt may remain at 160 percent in '20: IMF/ECB Reuters - Mon, 20 Feb, 2012 4:21 PM EST
Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, ...
- Greek premier rushes to Brussels to secure bailout amid uncertainty over spending controls The Canadian Press - Sun, 19 Feb, 2012 5:55 PM EST
By Demetris Nellas,Gabriele Steinhauser, The Associated Press BRUSSELS - Greece's prime minister rushed to Brussels on Sunday, a day before eurozone finance ministers have to decide whether his country ...
- Greek premier rushes to Brussel to secure bailout amid uncertainty over spending controls The Canadian Press - Sun, 19 Feb, 2012 2:48 PM EST
By Demetris Nellas,Gabriele Steinhauser, The Associated Press BRUSSELS - Prime Minister Lucas Papademos rushed to Brussels on Sunday, a day before eurozone finance ministers have to decide whether Greece ...
- Monti to showcase economic reforms to investors Reuters - Sun, 19 Feb, 2012 10:17 AM EST
Prime Minister Mario Monti will meet representatives of Italy's business and banking community in Milan on Monday, extending a tour of financial capitals aimed at showcasing his government's reform drive ...
- Eurozone leaders upbeat as Greek debt swap begins AFP - Fri, 17 Feb, 2012 7:44 PM EST
Eurozone leaders were upbeat Friday about the chances of a Greek rescue package deal early next week despite high tensions after Greece adopted a raft of painful austerity measures.Eurozone central banks ...
- Upbeat Greek outlook pushes stocks higher AFP - Fri, 17 Feb, 2012 5:44 PM EST
European stock markets closed higher Friday as investors took heart from the latest comments on the Greek debt crisis and positive US economic data, analysts said.German investors shrugged off news that ...
- TSX closes slightly lower amid rising optimism Greece will get bailout The Canadian Press - Fri, 17 Feb, 2012 4:23 PM EST
By Malcolm Morrison, The Canadian Press TORONTO - The Toronto stock market closed lower Friday as traders played it safe going into a long weekend even as optimism picked up that Greece will get the bailout ...