The International Monetary Fund on Friday urged Europe to help Ireland refinance its crippling bank bailout and consider taking equity in state-owned banks to help Dublin return to bond markets and avoid a second bailout next year.
America’s new treasury secretary Jack Lew has demanded that Europe do more to grow its austerity-afflicted economy amid concerns that Portugal was heading towards its second international bailout, reports The Guardian.
Reflecting deep anxiety in the Obama regime about the risks posed by the single currency’s prolonged double-dip recession, Lew used a visit to Brussels to urge expansionary measures.
The International Monetary Fund sees the Federal Reserve maintaining large monthly bond purchases until at least the end of this year and urged the central bank to carefully manage its exit plan to avoid disrupting financial markets.
Unwinding a policy of record-low interest rates and US$85-billion in monthly bond-buying known as quantitative easing will be challenging even though the Fed has “a range of tools” to withdraw the stimulus, the IMF staff wrote in its annual assessment of the U.S. economy.
After a struggle to repay its debts since 2015, Guangxi Nonferrous Metals Group, a regional Chinese state-owned metal producer, has finally been declared bankrupt by a Chinese court, becoming the country’s first interbank bond issuer to fail.
MUMBAI: One of the unintended fallouts of the clean-up of state-owned banks is that for the first time in about four quarters they would have gone without raising a penny in overseas bonds denominated in US dollar, euro and the yen. Banks' reluctance to raise dollar liabilities and the high yield demanded by investors were the deterrents. Last April, they had raised $747 million before the lull, show data from Dealogic, a global data analytics company. Indian public sector banks have not gone for offshore issuances this year.
NEW DELHI: State-run banking behemoth SBI has been named in a 'Hall of Shame' list of 158 banking and financial institutions globally that have invested billions of dollars in companies making cluster bombs. State Bank of India (SBI) is the only Indian entity on the list, which includes global giants like JP Morgan, Barclays, Bank of America and Credit Suisse that invested over USD 28 billion in seven producers of cluster munitions between June 2012 and April 2016, according to a report by Dutch campaign group PAX.
MUMBAI: One of the unintended fallouts of the clean-up of stateowned banks is that they have not gone raising a penny in overseas bonds denominated in US dollar, euro and the yen since April last year. Banks' reluctance to raise dollar liabilities and the high yield demanded by investors were the deterrents. Last April, they had raised $747 million before the lull, show data from Dealogic, a global data analytics company. Indian public sector banks have not gone for offshore issuances this calendar year.
(Reuters) - Maurice "Hank" Greenberg, the former American International Group Inc chief executive, has more than doubled the size of his class-action lawsuit against the United States over the insurer's bailout to roughly $55.5 billion from $25 billion.