ECB funding to Italy banks tops 200 billon EUR

* ECB funding rises to 209.995 bln eur from 153.2 bln eur     * ECB held first ever 3-yr liquidity tender in Dec.     * Longer-term ECB funds to Italy banks more than doubled   MILAN, Jan 9 (Reuters) – Funding from the European Central Bank to Italian lenders rose sharply to nearly 210 billion [...]

Merkel, Sarkozy Meet on Euro Rescue Plan

German Chancellor Angela Merkel and French President Nicolas Sarkozy plan to drive forward their agenda for stricter budget rules as they seek to craft a master plan for rescuing the euro over the next three months. The euro rose as the two leaders met in Berlin to flesh out a rulebook for budgetary discipline negotiated at a [...]

Stocks: Europe and earnings

NEW YORK (CNNMoney) — Monday’s trading day is likely to be all about Europe and corporate earnings, and so far, investors are cautious on both fronts. Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were mixed ahead of the opening bell Monday. Stock futures indicate the possible direction of the markets [...]

Merkel to Reshuffle Cabinet

BERLIN—German Chancellor Angela Merkel will announce a reshuffling of her cabinet later Wednesday, after Defense Minister Karl-Theodor zu Guttenberg resigned amid a plagiarism scandal. The reshuffle comes as Ms. Merkel faces an uphill struggle in a series of state elections this year, and ahead of key European Union summits to decide upon a major reform [...]

Euro-Zone Producer Prices Surge

LONDON—Factory-gate prices in the euro zone posted their sharpest monthly gain in 29 years in January, the latest sign that inflationary pressures are building faster than expected, ahead of the European Central Bank’s policy meeting Thursday. Industrial producer prices jumped 1.5% from December, the strongest gain since January 1982, the European Union’s Eurostat agency said [...]

GLOBAL MARKETS: European Stocks Weak; Commodity Issues Suffer

By Ishaq Siddiqi & Toby Anderson Of DOW JONES NEWSWIRES  LONDON (Dow Jones) European stocks pared some of their early losses but remained weak Wednesday, as concerns that rising oil prices could cut into global economic growth weighed on the heavyweight resources and oil and gas sectors. This, together with the uncertainty in the Middle East [...]

Ecobank to Arrange $300 Million Ghana Refinery Loan

Ecobank to Arrange $300 Million Ghana Refinery Loan (Update1) Ecobank Transnational Ltd., the Lome, Togo-based lender, said it will “arrange and syndicate” a $300 million facility to finance the debt of Ghana’s lone oil refinery. Ecobank’s investment branch, Ecobank Development Corp., was contracted by the Ghanaian government to “advise on the financial restructuring of Tema [...]

Crisis Shows Bigger Banks Are Less Stable

Bank of England official Andrew Haldane said the crisis has shown that big banks are less stable than smaller ones and called for a revamp of lenders’ business models to make the financial system more resilient. “There is not a scrap of evidence of economies of scale or scope in banking — of bigger or [...]

German Investor Confidence Rises to Three-Year High

German investor confidence rose to the highest level in more than three years in September after the economic recovery gathered strength and stocks surged. The ZEW Center for European Economic Research said its index of investor and analyst expectations, which aims to predict developments six months ahead, increased to 57.7 from 56.1 in August. Economists [...]

European Stocks Gain for Seventh Day; Morrison, Actelion Climb

European Stocks Gain for Seventh Day; Morrison, Actelion Climb July 21 (Bloomberg) — European stocks advanced for a seventh day, the longest stretch of gains since August 2007, as companies from Caterpillar Inc. to DuPont Co. and UnitedHealth Group Inc. reported earnings that beat analysts’ estimates. William Morrison Supermarkets Plc jumped 10 percent after saying [...]

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