Friday, September 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:
European stocks fall sharply (26 mins ago)
Canada jobless ranks grow (29 mins ago)
US stocks fall (30 mins ago)
US jobless rate drops to 5.1pc, employers add 173,000 jobs (1 hr 19 mins ago)
Sunevision posts HK$587m profit, data center lifts revenue (1 hr 38 mins ago)
Hang Seng closes in the red (09-04 17:01)
China’s HNA Group unit pays US$31 a share for jet lessor Avolon (09-04 13:27)
Hang Seng lower at break (09-04 13:21)
Asia oil prices drop (09-04 12:09)
Regional markets drop, HK climbs (09-04 11:38)

More breaking news >>

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