Category Archives: business

Monte Paschi, Carige to present recovery plans soon: Bank of Italy

ROME (NEWS.GNOM.ES) – Italy’s Monte dei Paschi and Carige , the two banks that fared worst in the ECB’s recent stress tests, will soon unveil plans aimed at strengthening their capital bases, and the Bank of Italy will oversee those plans’ implementation, the head of the Italian central bank said on Friday. Ignazio Visco added that bad loans were still a problem for Italy’s banking sector. Continue reading

Continental AG CEO says Audi recall no threat to guidance

MUNICH (NEWS.GNOM.ES) – Continental said a fault with airbags installed at premium sportscar maker Audi could cost a double-digit million euro amount to fix, a sum which the German automotive supplier could absorb without revising its earnings guidance. Earlier this month Audi said it was recalling 850,000 cars worldwide, because potentially faulty software may prevent airbags on its A4 model from deploying. “We are the supplier of the system”, Continental’s Chief Executive Elmar Degenhart told journalists in Munich on Thursday evening, in remarks which were embargoed for Friday Continue reading

BNP back in profit, on look out for bolt-on acquisitions

By Maya Nikolaeva By Maya Nikolaeva PARIS (NEWS.GNOM.ES) – BNP Paribas, France’s No. 1 bank, said third-quarter net income rose 11 percent from a year ago as gains in fixed income trading and in international retail offset a lackluster economic environment in its core European markets. The third-quarter results mark a return to profit for the bank which posted its first net loss since the 2008 financial crisis in the previous quarter, the result of a $8.9 billion fine from U.S. Continue reading

RBS sets aside $639 million to settle forex probes

LONDON (NEWS.GNOM.ES) – Royal Bank of Scotland said it had set aside 400 million pounds ($639 million) to cover potential fines for manipulating currency markets and another 100 million to compensate customers mis-sold loan insurance. Continue reading

Euro zone inflation slightly higher in October

BRUSSELS (NEWS.GNOM.ES) – Inflation in the 18 countries sharing the euro edged up slightly in October, a first estimate by the European Union’s statistics office showed on Friday, giving some hope to policy makers that price deflation can be avoided. Eurostat said consumer prices in the euro zone rose by 0.4 percent in October, in line with market expectations, the day after inflation in Germany, Europe’s largest economy, slowed in October to 0.7 percent, its lowest reading since May. Continue reading

Eurozone inflation creeps up to 0.4 percent

By DAVID McHUGH, AP Business Writer FRANKFURT, Germany (AP) — Inflation crept higher in the 18 countries that use the euro in October — but the rise to an annual 0.4 percent offered little relief to the European Central Bank as it tries to boost a weak economy. The rise from the previous month’s 0.3 percent rate, as reported Friday by Eurostat, was in line with market expectations. The European Central Bank is under pressure to introduce more drastic stimulus measures in coming months to boost the ailing eurozone economy, which is suffering from too low inflation and growth. Continue reading

Bombs at marketplaces near Baghdad kill 9 people

An Iraqi man inspects a damaged vehicle in the aftermath of a car bomb explosion in Baghdad, Iraq, Tuesday, Oct. 28, 2014 Continue reading

Rowling reveals new tidbits on Pottermore site

By JILL LAWLESS, Associated Press LONDON (AP) — Just in time for Halloween, J.K. Rowling has given fans a glimpse of what makes a wicked witch tick. The creator of boy wizard Harry Potter published a 1,700-word essay Friday revealing the real-life inspiration behind one of her most memorable villains, the supernatural bureaucrat and Hogwarts teacher Dolores Umbridge Continue reading

Japan’s huge pension fund to boost share purchases

By ELAINE KURTENBACH, AP Business Writer TOKYO (AP) — Japan’s $1.1 trillion public pension fund on Friday approved a plan to double its holdings of shares and cut back sharply on bonds to help improve its investment returns. Prime Minister Shinzo Abe and other officials say the change in the Government Pension Investment Fund’s asset allocations is needed to ensure the fund can meet its obligations to retirees Continue reading

Soldier or civilian, Ebola protocols not the same

By JIM KUHNHENN and ROBERT BURNS, Associated Press WASHINGTON (AP) — A U.S. soldier returning from an Ebola response mission in West Africa would have to spend 21 days being monitored, isolated in a military facility away from family and the broader population. A returning civilian doctor or nurse who directly treated Ebola patients? Continue reading