All four French banks that underwent EU-wide stress tests on their resilience to severe economic shocks passed with a wide margin and won’t need to raise fresh capital, thanks to the diversity of their assets, the Bank of France said late Friday.
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Switzerland’s banking regulator Friday endorsed Swiss banking giants UBS AG (UBS) and Credit Suisse Group (CS) as strong enough to withstand further shocks such as a global recession coupled with a financial markets and real estate slump, while the…
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Caterpillar Inc.’s (CAT) retail sales continued to grow in the three-month period ended in June, drawing support from rising sales of construction machinery in North America and Europe, according to sales figures released Thursday by the company.
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Morgan Stanley (MS) Chief Financial Officer Ruth Porat said Wednesday the banking industry will undergo a period of intense regulatory scrutiny, but that the firm currently isn’t the target of a major investigation.
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Credit Suisse raised its year-end target share prices for Brazilian steelmakers Usinas Siderurgicas de Minas Gerais SA (USIM5.BR), or Usiminas, and Gerdau SA (GGB, GGBR4.BR) on improving demand prospects for their heavy-plate and long-steel products in…
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A containment cap BP PLC has installed over a leaking oil well in the Gulf of Mexico shows “no evidence” of creating new ruptures on the sea floor, while drilling of a relief well aiming to permanently cut off the flow of oil is on scheduled to reach…
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European banking regulators are still finalizing the wording of a planned communication detailing the names of banks undergoing stress tests and the scope of those tests, a person familiar with the matter said Wednesday.
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Retailers are likely to show gains in their June sales when they are released Thursday, but the promotion-driven midyear numbers aren’t likely to quell concerns about the industry’s uneven recovery.
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