Sunday, October 4, 2015   

Portugal biggest bank denies risk allegations
(07-11 17:10)

Portugal's biggest bank has dismissed speculation that it is at risk from potential debt defaults by other companies in its financial and industrial group -- an assurance that helped stabilize jittery European stock markets.
Banco Espirito Santo said late Thursday it has a 2.1 billion-euro cash cushion which is enough to cover its exposure to other Espirito Santo group companies and keep it within regulatory requirements.
However, trading in the bank's shares on the Lisbon stock exchange remained suspended for a second day Friday after they fell more than 17 percent the previous day.
Concerns over the bank's liabilities spooked world markets, which broadly fell amid fears that Europe's financial crisis was not yet completely over and the Portuguese bank's problems might spread. --AP   
Other Business breaking news:
US stocks tumble on weak jobs report (10-02 21:52)
France's Total gets Iran gas station license (10-02 21:50)
Air France to shed 2,900 jobs (10-02 21:34)
US hirings slow in September (10-02 21:33)
European benchmarks jump (10-02 20:06)
Finance chiefs head to Lima to take stock of economic woes (10-02 18:40)
Hang Seng bounces by 3pc at close (10-02 17:24)
European stocks extend rally (10-02 16:28)
Nikkei closes flat (10-02 14:39)
Hang Seng rallies (10-02 13:25)

More breaking news >>

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