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Monday, 23 October 2017

Gareth Gore' s stories

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  • ECB Exit

    ECB eyes end of QE but retains corporate commitment

    Top News | 20 October 2017

    After more than €2trn of bond purchases, the European Central Bank is expected on Thursday to announce the phasing out of its quantitative easing programme, with plans to reduce – and eventually halt – its purchases over the course of next year.

  • Graduates

    UK government in a bind over £4.1bn student loan sale

    Top News | 13 October 2017

    The UK government faces a dilemma over whether to proceed with a landmark sale of £4.1bn of student loans, the first in a series of transactions it hopes will raise £12bn for the exchequer over the next four years.

  • EU flags fly in front of the ECB headquarters in Frankfurt

    ECB eyes deadlines for banks to cover bad loans

    Top News | 06 October 2017

    The European Central Bank plans to require banks to set aside enough cash to cover the full amount of any loan that falls into arrears, as it seeks to make it prohibitively expensive for lenders to just sit on bad loans.

  • A dry bulk cargo ship

    Day of reckoning draws near for German banks' shipping losses

    Top News | 29 September 2017

    When a cancelled order freed up nine slots at the Ulsan shipyard in South Korea in late 2007, the news set off a frenzy of activity 6,000 miles away in Hamburg.

  • A Hapag-Lloyd container being loaded

    Debt-laden Hapag-Lloyd to launch US$400m rights issue in days

    Top News | 22 September 2017

    Hapag-Lloyd will launch its US$400m rights issue in the next few days, as the shipping giant seeks to bring down debt that has ballooned as a result of its merger with Middle East peer UASC.

  • HSH Portfoliomanagement debuts at last

    Bonds | 15 September 2017

    German bad bank HSH Portfoliomanagement finally made its bond market debut on Tuesday, printing a three-year US$500m FRN – albeit more than a year after it mandated banks on the trade.

  • Otkritie Financial Corporation logo

    The curious collapse of Russia's Otkritie

    Top News | 08 September 2017

    When Kirill Lukashuk and Alexander Proklov put out their view of the creditworthiness of Otkritie in early July, they never imagined the note might trigger a series of events that would push Russia’s largest private bank into a central bank bailout.

  • European Parliament in Strasbourg, France

    Europe draws up sovereign CDO plans

    Top News | 11 August 2017

    European banks could be pushed to sell their Italian, Spanish and Portuguese sovereign debt holdings and replace them with newly created “safe” securities under proposals designed to strengthen the region’s financial system.

  • Piggy Bank

    Looming maturities threaten Greece's bailout exit

    Top News | 28 July 2017

    Greece and its creditors were quick to hail the country’s triumphant return to the sovereign bond market as an important milestone as it prepares for financial independence once its current bailout ends just over a year from now.

  • UniCredit

    UniCredit's €16bn NPL deal nears finish

    Top News | 21 July 2017

    UniCredit hopes to shift bad loans with a face value of €16.2bn off its books before the end of the month after signing an agreement with US funds Pimco and Fortress. The funds have committed to buy just over half of the portfolio for around €1bn.

  • Estonia's Finance Minister Toomas Toniste

    Europe eyes power to strong-arm banks on NPLs

    Top News | 14 July 2017

    European regulators could be given more power to force banks to tackle the €1trn of bad loans festering on their balance sheets, under new proposals put together by the region’s finance ministers.

  • Monte Dei Paschi

    Monte dei Paschi gets €5.4bn bailout

    Top News | 07 July 2017

    Banca Monte dei Paschi di Siena can hold on to its mantle as the world’s oldest bank for a little longer after the Italian government stepped in to rescue the struggling Tuscan lender via a deal that will cost the taxpayer €5.4bn.

  • Monte Dei Paschi

    Monte dei Paschi rescue deal gets green light

    Ticker | 05 July 2017

    Italy will inject €5.4bn into Banca Monte dei Paschi di Siena as part of a wholescale restructuring of the struggling Tuscan lender that will also see the bank shed €26bn of bad loans, following approval from the European Commission.

  • Monte dei Paschi bank headquaters

    MPS rescue helped by rivals' collapse

    Top News | 30 June 2017

    Banca Monte dei Paschi di Siena expects to close the sale of €26bn of

  • The entrance of Monte dei Paschi

    Monte dei Paschi deal boosted by Vicenza, Veneto collapse

    Ticker | 29 June 2017

    Banca Monte dei Paschi di Siena expects to close the sale of €26bn of bad loans within days following a last-ditch bid from Italy’s industry-backed rescue fund to revive a deal that looked to have collapsed.

  • British and EU flags

    UK deals pick up as companies tire of waiting

    Top News | 23 June 2017

    One year after the shock vote to exit the European Union forced many to ditch or delay planned transactions, UK companies are tentatively returning to dealmaking, as many conclude they can’t afford to wait any longer.

  • Eurozone banks reduce sovereign holdings

    Banks close €2trn carry trade as rate rises loom

    Top News | 16 June 2017

    Once viewed as a lucrative and risk-free carry trade, the €2trn of government bonds held by Europe’s banks is fast becoming a source of worry, with some choosing to unwind their positions before interest rate hikes leave them with potentially large losses.

  • Italy's largest bank UniCredit is pictured in downtown Milan

    UniCredit overhaul pays dividends on AT1s

    Top News | 19 May 2017

    UniCredit has taken another step on its long road to rehabilitation, pricing its first public Additional Tier 1 trade in almost three years, in a signal that capital concerns have been laid to rest after a top-to-bottom overhaul of the struggling Italian bank.

  • Banco Popular headquarters

    Popular steps up battle to raise capital

    Top News | 12 May 2017

    Banco Popular has fired the opening salvo in what is expected to be a long and difficult battle to raise billions of euros in fresh capital, putting its US and credit card businesses up for sale while work continues on a much broader recapitalisation plan.

  • Saudi Arabian flag

    Saudi tempts in foreign money ahead of IPO rush

    Top News | 05 May 2017

    Saudi Arabia is overhauling its equity market infrastructure to tempt in foreign money and boost liquidity ahead of a vast privatisation programme that is set to raise hundreds of billions of dollars for the cash-strapped oil giant.

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