BGN Entrepreneur

European banks are getting ready to tap the emergency funding scheme of European Central Bank for up to twice as much as the bank supplied in its debut auction of €489bn last month. The news provides further evidence of liquidity squeeze in the sector.
Several of the biggest banks in the eurozone have indicated that they [...]

Customer of the UK arm of failed futures broker—MF Global have already been quite angry about the pace of returns of money invested. However, it is possible that their anger would be further inflamed as it is warned by the administrator of MF Global–Richard Heis that the customers might not get all their money back.
According [...]

Emergency staff ran hospitals, schools closed and thousands of austerity-weary Greeks took to the streets last Thursday in a 24-hour general strike that tested the resolve of a national unity government.
Greeks poured into the square in front of parliament to protest about a new dose of austerity medicine prescribed by foreign lenders as the price [...]

The body set up to take care of the taxpayers’ interests in the bailed out banks, UKFI manages £65bn of taxpayer money used to purchase stakes in Royal Bank of Scotland and Lloyds Banking Group, as well as what is left of Northern Rock and Bradford & Bingley. But, is it time to question the [...]

Citigroup was looking to settle allegations of misleading buyers of a mortgage-related security in a $1bn security via failing to disclose the fact that it helped choose some assets included in the security and bet against them.
A US judge rejected the Securities and Exchange Commission’s $285m settlement with Citigroup to resolve allegations, signaling that he [...]

According to US regulators, it is revealed that as smaller provisions for loan losses boosted earnings, US bank earnings jumped by 49% to $35.3bn last quarter, which makes the highest level ever since mid-2007.
According to the Federal Deposit Insurance Corporation, it is said that revenues and lending increased modestly. Meanwhile, the bulk of the [...]

The German telecoms group–Deutsche Telekom, held its full-year outlook and beat earnings expectations due to cost-cutting helping mitigate difficult conditions in poor economic environment and the negative effects of regulatory decisions.
Days after the UK company—Vodafone was forced to take a £450m write-down on exposure to the country, Deutsche Telekom posted weak but still better than [...]