Business News Headlines

Germany, France usher Greece back to negotiating table

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RIGA - European leaders told Greece on Friday to return to the negotiating table for "intensive work" to wrap up a reform agreement before cash runs out, sidestepping Athens' demand for a comprehensive, long-term solution to its troubles.

8:07pm BST

Fed on track to hike rates as economic headwinds wane - Yellen

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PROVIDENCE, R.I. - Federal Reserve Chair Janet Yellen was clearer than ever on Friday that the central bank was poised to raise interest rates this year, as the U.S. economy was set to bounce back from an early-year slump and as headwinds at home and abroad waned.

8:27pm BST

Bank of England's Haldane says UK rates to rise at some point

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LONDON - The Bank of England's chief economist Andy Haldane said on Friday that the central bank would raise interest rates in the future but they would probably not return to levels as high as before the financial crisis.

7:06pm BST

BoE official says securitisation not a panacea for EU

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LONDON - European Union efforts to revive the market for securitisation after it was tarnished in the financial crisis won't do much to help smaller companies access funding for growth, a senior Bank of England (BoE) official said on Friday.

4:36pm BST

Stocks dip, bonds fall as CPI keeps Fed on course

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NEW YORK - Global equity markets dipped but remained near record highs on Friday after Federal Reserve Chair Janet Yellen said she expected U.S. interest rates to rise this year, a view that lifted bond yields and was bolstered by rising core consumer prices.

FXpert 9:27pm BST

BNP Paribas eyes cost cuts at UK global markets business - source

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LONDON - French bank BNP Paribas is reviewing its global markets business in London in an attempt to cut costs and improve its profitability, a person familiar with the matter said on Friday.

5:17pm BST

Three strikes and you're not out - put those Brexit nerves on hold

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LONDON - Two-thirds of the way through a trio of political earthquakes that a year ago looked set to shake British business and markets, the best lesson gleaned by financial investors for part three is to hold their nerve.

4:07pm BST

Shareholder rebuke piles pressure on Deutsche Bank leaders

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FRANKFURT - A stinging rebuke for Deutsche Bank's leaders in a shareholder vote piles pressure on co-Chief Executive Anshu Jain to deliver a convincing strategy in a restructure of Germany's biggest lender in two months' time.

2:30pm BST

UK public finances improve more than expected in boost for Osborne

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LONDON - Britain's public sector budget deficit narrowed more than expected in April, giving Chancellor George Osborne a boost as he renews his push to fix the country's public finances.

UK 9:32am BST

British-based banks planning for EU 'no' stymied by lack of European office space

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LONDON - A shortage of prime office space in rival European financial centres may torpedo plans by some of London's banks to quit the UK capital if Britain opts out of European Union membership.

1:55pm BST