Argentina Bonds Dispute Up in Air
Argentine negotiators headed home empty-handed after another fruitless trip to the U.S., leaving just a few days before a dispute with a small group of creditors could see the country default for the second time in 13 years.
Brazil Frees Up More Funds for Bank Loans
Brazil's central bank on Friday announced measures intended to boost economic growth by freeing up more money for banks to loan out.
U.K. Equities Take the Limelight
U.K. equities were the center of European markets' attention, with Balfour Beatty and Carillion both soaring on merger talks, and RBS rocketing after impressive earnings.
Banco Espírito Santo Not Considering Debt Reimbursement
Banco Espírito Santo said it isn't currently considering reimbursing retail clients who invested $284 million in debt from its troubled parent Espírito Santo Financial Group because the obligations only expire in 2015 and 2019.
Russia Raises Key Interest Rate
The Bank of Russia raised its key interest rate for the third time in five months in a surprise move, and warned there may be more to come if political shocks prevent high inflation from coming down.
Fitch Affirms Russia's Triple-B Ratings
Fitch Ratings affirmed Russia's triple-B ratings, with a negative outlook amid heightened concerns about the impact of further sanctions on the country's economy.
Moody's Raises Portugal's Credit Rating
Moody's Investors Service upgraded Portugal's credit rating by one notch to Ba1, citing the country's improved fiscal condition and an expected, continued gradual reduction in the country's very high public debt burden.
Asian Markets Mixed
Japanese stocks closed at a six-month high, as a weaker yen buoyed the market at the end of a positive week for Asian stocks.
China's ICBC to Issue $13 Billion in New Shares
Industrial and Commercial Bank of China said it would issue up to 80 billion yuan ($12.9 billion) of preferred shares.
India Gold Imports Seen Cooling
Gold imports by India are expected to plunge this month after surging in June following a relaxation of import curbs, a senior trade executive said.
China Securities Firms Propose Merger
China's Hong Yuan Securities unveiled a proposal to be acquired by larger peer Shenyin & Wanguo Securities Co. in a deal with a potential value of $6.4 billion.
Court Rules Against BNP Paribas in False Claims Case
A federal court entered a $80 million judgment against BNP Paribas for submitting false claims to a Agriculture Department program from 1998 through 2005, the Justice Department said.
Ex-Banco Espírito Santo Head Detained
Ricardo Salgado, former chief executive of troubled Portuguese lender Banco Espírito Santo, has been detained for questioning as part of a three-year money-laundering and tax evasion investigation.
Hong Kong Stocks Join Rally
Hong Kong's Hang Seng Index closed at a three-year high Thursday after having spent most of the year in negative territory.
Canada Broadens Sanctions Against Russia
Canada broadened its economic sanctions against Russia, in response to the downing of Malaysia Airlines Flight 17, targeting major Russian financial and energy companies as well as Moscow-backed separatists in eastern Ukraine.
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