The euro edged up and Asian shares rose on Monday as solid U.S. corporate earnings and surprisingly strong euro zone data offset growing scepticism that stress tests on European banks were not strict enough. The upbeat sentiment was expected to carry over to European markets, with Britain's FTSE 100, Germany's DAX and France's CAC-40 seen
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BP Plc was expected to announce changes at the top on Monday with the anticipated departure of CEO Tony Hayward, who came under fire for his handling of the massive oil spill in the Gulf of Mexico. Hayward would be replaced by Bob Dudley, an American executive who is now managing the oil spill response
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Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 bln euros, tests run in an attempt to revive investor confidence showed on Friday. Five of Spain's smaller regional lenders, known as cajas, failed the test and their recapitalisation is likely to speed a restructuring
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Greece's state-controlled ATEbank failed the European Union stress test, the bank said on Friday.Under the most adverse scenario, with sovereign shock, it would have a Tier 1 ratio of 4.36 percent. Its shortfall under this scenario would amount to 242.6 million euros. "The Bank will proceed to a capital increase to cover future capital adequacy
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Marfin Popular Bank Public Co Ltd was subject to the 2010 EU-wide stress testing exercise coordinated by the Committee of European Banking Supervisors (CEBS), in cooperation with the European Central Bank, and the Central Bank of Cyprus. Marfin Popular Bank Public Co Ltd acknowledges the outcomes of the EU-wide stress tests. This stress test complements
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European Union regulators have checked 91 of the bloc's top banks to see if they hold enough capital to withstand shocks worse than the collapse of Lehman Brothers bank in September 2008, which triggered a near meltdown of global financial markets. The Committee of European Banking Supervisors (CEBS), made up of regulators from the 27
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Bank of Cyprus Public Company Ltd was subject to the 2010 EU-wide stress testing exercise coordinated by the Committee of European Banking Supervisors (CEBS), in cooperation with the European Central Bank, and the Central Bank of Cyprus. The Bank of Cyprus has successfully passed the stress test exercise, reaffirming its robust financial position and its
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Vitol, the world's largest energy trader, plans to build an oil import and distribution terminal in Cyprus, it said on Thursday. Vitol Tank Terminals International (VTTI), a wholly owned subsidiary of Vitol Group, said it expects the project to be completed by 2012 at an initial cost of more than 100 mln euros and an
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France's richest woman, at the centre of a scandal over alleged tax evasion, money laundering and illegal political funding, said on Friday she was relieved her daughter had failed to have her made a ward of court. Liliane Bettencourt, 87, heiress to the L'Oreal cosmetics fortune, demanded an end to what she called harassment by
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National Bank of Greece, the country's top lender, said on Friday it sold 450 mln euros of privately placed 10-year bonds to investors to boost its regulatory capital. National said the sale, which came just a few hours before the publication of regulatory stress test results of European banks, was a sign of investor confidence
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