LONDON Barclays reported a 21 percent dip in first-half pretax profits despite improved returns in its core business, as the costs of selling and shrinking the bank's unwanted assets in a harsh economic environment took its toll on earnings.
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MILAN Veteran Italian banker Corrado Passera is presenting to the board of Monte dei Paschi an alternative rescue plan which is backed by some U.S. private equity funds and sponsored by Swiss bank UBS , a source close to the matter said.
ZURICH Switzerland's biggest bank UBS scrapped short-term guidance on profitability due to market uncertainty, even as it posted a lower second-quarter net profit that outstripped market expectations.
LONDON The number of new homes registered for construction in Britain rose in the second quarter to its highest since the financial crisis as building plans picked up before the EU referendum, an industry group said on Friday.
BRUSSELS European Commission said on Friday that it found support granted by Italy's Sardinia region to selected airlines was an unfair advantage, ordering that the money be recovered.
FRANKFURT Volkswagen said on Friday it regretted the Washington Department of Ecology's decision to fine it $176 million (£133.5 million) over its emissions scandal, saying the move ran counter to efforts to resolve U.S. consumer claims collectively.