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  • Long-awaited results of AQR and stress tests out

    Long-awaited results of AQR and stress tests out

    The long-awaited results of the Asset Quality Review (AQR) conducted by the European Central Bank and the stress tests of the European Banking Authority were released last Sunday at noon. A total of 130 banks across Europe were subject to this...

  • Air France-KLM facing more belt-tightening as pilots strike

    Air France-KLM facing more belt-tightening as pilots strike

    Air France-KLM said it would limit investments and accelerate cost controls next year to mop up the remaining impact of a recent pilots’ strike that helped slash its operating profit by more than half in the third quarter. Europe’s second-largest...

  • Facebook spending gets thumbs up from analysts

    Another day, another quarterly report from a technology company that disappointed investors. Facebook Inc’s shares were set to open about 6 per cent lower yesterday, a day after the company revealed aggressive spending plans for 2015. But analysts...

  • Banks see upswing in loan demand across eurozone

    Banks see upswing in loan demand across eurozone

    Around one in five banks across the eurozone expect companies to approach them for more credit as the year draws to a close, with those in Germany and France most optimistic, the European Central Bank said yesterday. The upbeat forecast bodes well...

  • Dollar rallies after a more upbeat Fed statement

    US stocks were mixed, while the dollar and government bond yields rose yesterday, after the Federal Reserve announced the end of its stimulus programme in a statement that also notedthe improvements in the US labor market. The Fed, as expected,...

  • Shipping movements

    The following ships are expected in Malta: The Kasif Kalkavan from Varna to Avcilar and the Hansa Narvik from Alexandria to Mersin (both Carmelo Caruana Co. Ltd) today. The Kapalua Kontor (ex-DS Accuracy) from Trapani to Catania, the Fas Dammam...

  • Share index declines on large caps

    Share index declines on large caps

    The share index again trended lower following further declines in the share prices of the largest equities by market capitalisation. The local equity benchmark shed a further 0.7 per cent during this morning’s session to drop back to a fresh...

  • BP posts slump in Russian income but raises dividend

    BP posts slump in Russian income but raises dividend

    BP’s third-quarter results took a hit from declining oil prices and a sharp drop in income from Russia as Western sanctions on Moscow led to a slump in earnings from the oil major’s local partner, Kremlin-controlled Rosneft. BP’s overall profits...

  • Pfizer beats sales and profit forecasts, mum on future deals

    Pfizer Inc. reported stronger-than-expected quarterly results, helped by growing sales of its cancer drugs and demand for its medicines in emerging markets, but did not signal any acquisition plans in the wake of its recent failed efforts to buy...

  • Dutch arm of Air France-KLM to shed 7,500 jobs

    Dutch arm of Air France-KLM to shed 7,500 jobs

    The Dutch arm of Air France-KLM plans to cut its workforce by 7,500 jobs, or 25 per cent, largely through outsourcing, a Dutch daily newspaper reported yesterday. The measure is expected to be announced at the release of quarterly earnings by the...

  • Anti-competitive conduct in the telecoms market

    €39 million was recently imposed by the European Commission on ST and its parent company, Deutsche Telekom AG, for anti-competitive conduct in the Slovak telecoms market for broadband services. The Commission’s message is loud and clear. It will...

  • Global stocks rise as bond prices ease

    Global equity markets rose and bond prices eased yesterday on solid corporate earnings on both sides of the Atlantic and an upbeat US consumer confidence report that more than made up for weak American housing and indus-trial data. Outside of...

  • Under full capital rules, 36 EU banks would have failed test

    Under full capital rules, 36 EU banks would have failed test

    Europe’s banking health check has shown countries and lenders are implementing global capital rules at vastly different speeds, and 36 companies would have failed if new capital rules were fully applied. The eurozone is lagging behind countries...

  • Mediterranean Bank Group is now Malta’s third largest bank with equity of €170 million

    Mediterranean Bank plc has become Malta’s third largest bank following the acquisition of Volksbank Malta which took the group’s shareholder equity up to €170 million. The group has now set up Mediterranean Corporate Bank...

  • More protection to copyright holders

    More protection to copyright holders

    Recently, the Maltese Parliament by virtue of Act XXIV passed an amendment to Article 298B of the Maltese Criminal Code (Chapter 9 of the Laws of Malta) which deals with copyright infringement. Copyright has for long been shrouded in a lot of...

  • Money market report for the week ended October 24

    On Monday, October 20, the European Central Bank (ECB) announced its weekly main refinancing operation (MRO). The auction was conducted the following day and attracted bids from euro area eligible counterparties of €92.92 billion, €10.40 billion...

  • Lending to private sector falls again

    Lending to private sector falls again

    Lending to eurozone households and companies contracted for the 29th month in a row in September, although at a slightly slower pace, despite the European Central Bank stepping up its efforts to get credit flowing again and revive growth. Eurozone...

  • Europe’s bank test celebrations mask mounting challenges

    Investors were spared immediate pain on Sunday after the European Central Bank’s landmark banking health check did not force massive capital hikes among the eurozone’s top lenders. But the sector’s long-term attractiveness has been damaged by...

  • Oil and weak German data drag on stocks

    Global equity markets slipped yesterday, hit by weak German business sentiment and another decline in oil, while Brazil slumped after incumbent Dilma Rousseff narrowly won a second term over an opponent seen as more pro-business. Wall Street was...

  • Honda profit to rise but recalls cloud outlook

    Honda profit to rise but recalls cloud outlook

    Honda Motor Co. is likely to post its best July-September profit since the global financial crisis, but a slew of vehicle recalls threatens to delay the rollout of new models, crimping domestic market sales growth. Japan’s third-biggest car maker...

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