Arrests May Come Soon in Libor Probes
Prosecutors in the U.S. and in Europe are close to making arrests in connection with the investigation into the possible manipulation of international benchmark interests rates, including the London interbank offered rate, or Libor, Reuters reports on its website Sunday.
Asian Shares Fall on Spanish Debt Concerns
Asian markets fell on Monday after Spain's borrowing costs climbed to a euro-era high, pushing the single currency down to multi-year lows against both the dollar and the yen.
Banco Santander to Shut 96 UK Branches
Banco Santander SA (SAN) will shut 96 high street branches as part of its effort to complete the integration of the British lenders it bought during the financial crisis, the Sunday Times reported.
Lloyds Banking To Speed Up Ring-Fencing Plans
Lloyds Banking Group PLC (LYG) is set to signal that it will bring forward its so-called "ring fence", or separation of retail and investment banking, ahead of the 2019 deadline demanded by the Independent Commission on Banking, the Sunday Telegraph reported.
Michael Rake, Rich Ricci Shun Top Barclays Posts
Barclays PLC (BCS.LN) Deputy Chairman Michael Rake has shunned the chance to become chairman of the beleaguered bank, and Rich Ricci, Chief Executive of Barclay's investment banking arm, pulled out of the race to become CEO of the parent company, U.K. newspapers reported Sunday.
Australia Mining Boom Close to Peak, Deloitte Says
Australian mining and resources investment is close to peaking, posing downside risks for what has become a key pillar of the nation's economy, a report published Monday by Deloitte Access Economics said.
Hong Kong Shares Slump As Europe Fears Take Hold
Hong Kong shares slumped sharply early Monday on escalated fears over Europe following a report that Greece may no longer receive aid from the International Monetary Fund, with heavyweight HSBC Holdings PLC fronting an across-the-board slide.
Australia Producer Prices Rise More Than Forecast
Australia's producer price index rose 0.5% in the April-June quarter, the government reported Monday.
IMF Signals It Won't Partake In More Greece Aid
The International Monetary Fund has signaled to Brussels it will no longer partake in financial aid for Greece, meaning the country could run out of money as early as September, according to an article published the Der Spiegel website Sunday, citing a high-ranking representative of European Union
Greek Program Extension Would Cost Up To €40 Billion
Granting a two-year extension of Greece's deficit-cutting program would cost the country's European and international creditors as much as €40 billion euros extra, a Greek newspaper reports Sunday, twice the amount of previous government estimates.