Ratings agency Moody’s said yesterday that the European banks’ costs have increased due to the fact that the rise in regulatory and restructuring costs is eating up all the savings resulting from branch closures and workforce reductions.
Royal Bank of Scotland (RBS) will go ahead with the disposal of a substantial part of its SME banking business in the UK. The operation will be a complicated one and the British subsidiaries of Santander and Sabadell will participate in the bid process.
Financial institutions, companies and households have continued to adjust the debt accumulated in the first half of the year. In the case of non-financial companies and households, their level of debt is increasingly closer to the European average, against a backdrop of greater economic growth and preference for home ownership.
Bankia Estudios | At end-2016, the emerging economies’ public debt rose to 11.7 trillion dollars, double the level of 2007, reaching 51% of GDP, according to a report from the Bank for International Settlements (BIS). But the composition of that debt is improving and has reduced the risk fuelled by market volatility in uncertain times.
Catalan leader Carles Puigdemont had until 10 am on Monday 16 October to clarify whether he has declared independence or not. As was widely expected, he answered PM Mariano Rajoy in an ambiguous way, with neither a clear yes nor a no. He has until Thursday at 10 am to avoid the government applying article 155 of the Constitution.
Abertis and Red Eléctrica are keeping talks open regarding an eventual corporate deal involving Hispasat. According to the press, Abertis, which holds 90.4% of the satellites firm, is asking for a control premium in addition to the valuation it made of the company in May.
The European Financial industry is clearly suffering when trying to meet the constraints imposed by the new transparency European regulation a few weeks before the gong (January 2018).
Nick Ottens via Atlantic Sentinel | Now that Donald Trump’s Rasputin, Steve Bannon, has declared open season on Republicans, will the party finally see its president for the saboteur he is?
In Spain banks stocks, particularly Santander, play an unusually important role in driving the index Ibex35.To understand the prospects for the Spanish banks (and ipso facto, the overall index), it is crucial to have a handle on the health of the domestic real estate market,” confirms Goldman Sacha experts.
Hans Dietmar Schweisgut via Caixin | There has been quite some noise recently about EU-China trade relations, including frustration at the slow pace of market reforms, accusations of protectionism, calls for reciprocity, debate on industrial overcapacity, investment screening systems, and cross-border acquisitions.