Spain's banks, hit by a property crash that has prompted a government-forced clean-up of toxic real estate assets, should be fully capitalised by the middle of next year, the European Union's antitrust chief said on Monday. The rescued banks will need to overhaul businesses, reduce balance sheets, halt dividend payouts and refrain from acquisitions, in
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Cyprus should be allowed to recapitalise its Greece-exposed banks directly from the EU's permanent bailout fund, the head of its central bank said on Monday. The island can also manage the debt burden it takes on when receiving financial aid, and speculation it would not be able to do so is not "well-founded", said Panicos
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A senior member of German Chancellor Angela Merkel's party hinted on Monday that Greece could be given more time for certain structural reforms if its international lenders suggested this. Hermann Groehe is the latest senior member of Merkel's centre-right coalition to suggest that Athens should get some leeway on agreed reforms. Horst Seehofer, leader of
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Three British men planned to detonate rucksacks packed with explosives in a major suicide assault which could have been more devastating than coordinated attacks that killed more than 50 people in London in 2005, a court heard on Monday. Prosecutor Brian Altman told the jury the defendants had planned to set off up to eight
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Irish low-cost carrier Ryanair has offered concessions to European Union antitrust regulators in a bid to secure regulatory clearance to acquire local rival Aer Lingus. The European Commission did not detail Ryanair's offer which was submitted last Wednesday. The EU executive has set a Feb. 6 deadline for its decision on the 700 million euro
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Airbus is looking at increasing planned production for the largest member of its A350 family to power its next important struggle with Boeing for a lucrative corner of the jet market, two people familiar with the matter said. The plans emerge on the eve of Tuesday's inauguration in Toulouse, southwest France, of an assembly factory
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A Dubai cafe, trying to give a modern twist to an old Bedouin tradition, has started putting camel products on its menu. Cafe2Go, launched in September last year by an Emirati entrepreneur as part of a scheme to revive Bedouin traditions, now features camel-lattes, camel-ccinos and camel-meat fajitas. Earlier this month, he launched Camellos – a
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Former Cuban leader Fidel Castro dismissed reports that he was dead or near death in an article published on Monday in Cuba's state-run press. He accused news agencies and enemies of Cuba of spreading "stupidities" about him, particularly a report from a Spanish newspaper last week that said he had suffered a massive stroke and
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Text messaging is fast and efficient but a new video-sharing application aims to put users in the picture. The London-based company Six3, https://six3.tv/ has launched a new video-sharing app by the same name that will enable users to send short video messages as easily as sending a text. Whether it is a business traveler trying
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Asian shares fell on Monday as lacklustre earnings from leading U.S. companies and a sharp drop in Japan's exports, a key driver of the world's third-biggest economy, dented risk appetites and prompted investors to take profits on recent gains. The euro, however, crept higher after Spanish Prime Minister Mariano Rajoy secured backing for his austerity
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