Australia's Slater and Gordon enters recapitalisation deal; MD steps down
June 29 Australian law firm Slater and Gordon Ltd on Thursday said it would enter a recapitalisation deal that would give almost full ownership of the company to its lenders.
MILAN Feb 9 Italian bank Monte dei Paschi di Siena, which is being bailed out by the government, booked a net loss of 3.38 billion euros for 2016 after setting aside more money to cover for bad loans.
Its CET 1 ratio, a key measure of financial strength, stood at a lowly 8 percent at the end of December.
The Rome government has had to step in to rescue Monte dei Paschi after the bank failed to raise money from private investors in December. (Reporting by Silvia Aloisi; editing by Francesca Landini)
* Says unit completed acquisition of an investment firm as disclosed on June 20
June 29 Materials and financial stocks drove Australian shares higher on Thursday, fuelled by gains in commodity prices and an overnight surge on Wall Street.