Cyprus is close to securing a bilateral loan from Russia, a senior finance ministry official told Dow Jones Newswires Wednesday, while another official said funding for the island may be sourced from both Europe and a separate sovereign state.
Exclusive: Manchester United drops Asia IPO for U.S.
SINGAPORE/HONG KONG, June 13 (IFR) - Manchester United, the world's best supported soccer club, has ditched its plans for an Asian stock market flotation and is preparing to list in the United States, according to sources with knowledge of the deal.
Argentine banks have seen a third of their U.S. dollar deposits withdrawn since November as savers chase greenbacks in response to stiffening foreign exchange restrictions, local banking sources said on Friday.
Cyprus Finance Minister Vasos Shiarly said Monday that the country's need for an international bailout stemming from a looming bank-recapitalization plan was "exceptionally urgent" and would need to be resolved within a matter of days.
Euro zone agrees to lend Spain up to 100 billion euros
Euro zone finance ministers agreed on Saturday to lend Spain up to 100 billion euros ($125 billion) to shore up its teetering banks and Madrid said it would specify precisely how much it needs once independent audits report in just over a week.
New Risk to Europe's Growth: Banks Cut Lending to Cities
CHARTRES, France-For decades, when this medieval town wanted to borrow for a building project, officials just needed to walk into one of the many banks between city hall and the nearby 13th-century cathedral.