Saturday, October 25, 2014   

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:
China and 20 other countries sign up to regional bank (10-24 18:00)
Britain says EU is asking for bigger contribution (10-24 17:49)
British economy grows slower in Q3 (10-24 17:00)
Firm in China's first bond default to be restructured (10-24 16:59)
Hang Seng closes lower (10-24 16:22)
Pearson reports sliding sales (10-24 16:22)
European stocks fall at open (10-24 16:05)
BASF says won't meet 2015 targets (10-24 16:04)
ECB to unveil results of eurozone bank health check (10-24 16:04)
German consumer confidence stops falling: survey (10-24 15:59)

More breaking news >>

© 2014 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2014, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.