European shares rose in choppy early trade on Thursday, supported by the passage of a $700 billion bailout package for the financial sector by the U.S. Senate, but concerns persisted about the health of banks. At 0718 GMT, the FTSEurofirst 300 index of top European shares was up 0.4 percent at 1,076.72 points, after closing
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Widening spreads on borrowing applied by Cyprus banks and a global credit crunch have failed to dent the appetite of Cypriots to borrow, with the latest figures from the August 2008 Monetary Survey of the Central Bank of Cyprus showing that total loans reached EUR 49.79 bln recording an increase of 34.9% year-on-year and 1.8%
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Moody's Investors Service has changed the outlook on the Baa3/Prime-3 long- and short-term foreign currency deposit ratings of three Bulgarian banks — DSK Bank, Raiffeisenbank (Bulgaria) and Piraeus Bank Bulgaria — to stable from positive. This rating action follows Moody's decision to change the outlook on Bulgaria's Baa3 foreign currency deposit ceiling to stable from
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British bank Northern Rock has withdrawn several savings products after a surge in deposits put it close to breaking a pledge not to take advantage of its state ownership, it said on Thursday. The bank said recent turmoil in financial markets, which included the nationalisation of rival Bradford & Bingley and the government-brokered takeover of
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Recent market turmoil may depress business and consumer confidence and slow global economic growth, exacerbating existing trends that have been causing corporate credit quality to deteriorate for more than a year, Moody's Investors Service said in a new report on the global credit outlook for non-financial companies. "Business and consumer confidence appear to have been
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By Paul Day (Reuters) Rodolfo Jaramillo looks around his Madrid apartment at the stacked stereo system and a picture of parakeets on the wall, and shrugs. It's been three months since he paid a mortgage instalment and he plans to return to Ecuador. Jaramillo, 40, has lived in Spain for nine years. Over the last
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British house prices fell 1.7 percent in the month of September to post their biggest annual drop since comparable records began in 1991, the Nationwide building society said on Thursday. Interest rate futures rallied as investors speculated the figures increased the chance of an interest rate cut by the Bank of England next week, although
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Marks & Spencer Plc, Britain's biggest clothing retailer, posted a 6.1 percent drop in second-quarter core sales and said it was cutting investment and stepping up promotions in a tough market. The 114-year-old mainstay of UK retailing said on Thursday like-for-like general merchandise sales, which span clothing and homewares, fell 6.4 percent in the 13
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Nokia Siemens Networks continues to execute on its strategy of building the industry’s most innovative and cost-effective WiMAX platform based on a flat architecture so operators can deploy the most advanced infrastructure available. The company has utilized its innovative Flexi base station platform to foster a flat network architecture that will yield significant savings in
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Playboy <PLA.N> magazine is offering a new way to lose your shirt on Wall Street. The adult entertainment magazine, long famous for its photo spreads of nude women and lessons in living the urbane life of the well-heeled bachelor, is launching a search for models to pose for its upcoming feature, "Women of Wall Street."
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