Royal Bank of Scotland says it barely passed EU stress test, admits error

LONDON - Royal Bank of Scotland said on Friday that it wrongly calculated its core capital for a test of its financial health by European regulators and only marginally passed a test it initially appeared to have passed comfortably.

Recent Business News

ECB drops Citi from FX contact group

FRANKFURT - The European Central Bank has dropped Citigroup from its experts' working group on foreign exchange, days after the U.S. bank was fined by U.S. and UK regulators for failing to stop traders from trying to manipulate the currency market.

2:49pm GMT

ECB says banks to return 8.5 billion euros in crisis loans

FRANKFURT - Banks will return 8.5 billion euros (7 billion pounds) in crisis loans to the European Central Bank next week after it started offering them new four-year loans at cheap rates.

2:11pm GMT

Volkswagen unveils multi-billion auto investments through next five years

FRANKFURT - Volkswagen AG is to invest 85.6 billion euros (68 billion pounds) in its automotive operations over the next five years to push foreign expansion, new models and technology to back its quest for global leadership.

3:49pm GMT

Toyota Lexus to recall some 2006-2011 models due to fuel leak

DETROIT - Toyota Motor Corp will recall 422,509 of its luxury brand Lexus vehicles in the United States because of a possible fuel leak that increases the risk of fire, U.S. regulators said on Friday.

3:20pm GMT

Valeant slashes stake in Allergan after losing bid

- (Refiles Nov. 20 story to correct reference to previous stake)

4:13pm GMT
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