Italy's front line in fight to save banks: a storage room
MILAN Storage rooms crammed with loan documents have emerged as a hidden front line in Italy's battle to save its banks from the threat of financial crisis.
MADRID Spain on Monday requested formally the disbursement of 39.5 billion euros (31.9 billion pounds) of European funds to recapitalise its crippled banking sector, the Economy Ministry said in a statement.
The money - 37 billion euros for the four nationalised banks Bankia (BKIA.MC), Catalunya Banc, NCG Banco and Banco de Valencia BVA.MC and 2.5 billion euros for the so-called "bad bank" - should be paid to the state's banking fund FROB around December 12, it added.
Euro zone finance ministers are expected to approve the disbursement later on Monday when they meet in Brussels for their monthly meeting.
($1 = 0.7689 euros)
(Reporting By Jesús Aguado; Editing by Julien Toyer)
LONDON Britain's major banks are set to report stronger-than-expected results this week, confounding expectations that political and economic upheaval caused by the vote to quit the European Union would immediately squeeze profits.
LONDON Britain could slash corporation tax to 10 percent if the European Union refuses to agree a post-Brexit free trade deal or blocks UK-based banks from accessing its market, the Sunday Times reported, citing an unidentified source.