Portugal

BES seeks capital as key staff suspended after massive losses

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LONDON/LISBON - Laws may have been broken at Portugal's Banco Espirito Santo during a catastrophic six months that saw it lose 3.6 billion euros (2.8 billion pounds), the bank's new management said on Wednesday, as they vowed to raise new cash to bolster finances and to investigate the losses.

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BES warns of possible legal breaches, vows to raise capital 12:28am BST

LONDON/LISBON - Laws may have been broken at Portugal's Banco Espirito Santo during a catastrophic six months that saw it lose 3.6 billion euros (£2.85 billion), the bank's new management said on Wednesday, as they vowed to investigate the losses and raise cash to bolster finances.

Bank of Portugal suspends BES officials over suspected harmful management 12:28am BST

LISBON - The Bank of Portugal suspended all officials in charge of auditing and supervision at Banco Espirito Santo, saying it suspected "acts of harmful management" had contributed to the 3.6 billion euros (£2.85 billion) half-year loss posted by the bank on Wednesday night.

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Bank of Portugal says BES loss can be remedied by capital hike 29 Jul 2014

LISBON - Portugal's central bank said late on Monday that if Banco Espirito Santo posts a loss larger than its existing capital cushion of 2.1 billion euros (£1.65 billion), a capital increase will be used to guarantee adequate solvency levels.

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Ex-BES chief Salgado named as suspect in money-laundering probe 24 Jul 2014

LISBON - An investigating judge has named Ricardo Salgado, head of Portugal's Espirito Santo banking family and former chief of Banco Espirito Santo (BES) , as a suspect in a long-running money-laundering and tax evasion investigation.

Lisbon rallies as European shares edge higher 23 Jul 2014

* Lisbon's PSI-20 equity index outperforms with 1.7 pct rise

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Goldman Sachs says BES investment was on behalf of clients 23 Jul 2014

LISBON - Goldman Sachs's 2.27 percent interest in Portugal's Banco Espirito Santo was acquired on behalf of clients, the U.S. investment bank said in a statement on Wednesday afternoon.

RPT-CORRECTED-UPDATE 2-Espirito Santo family woes mount as Rioforte seeks creditor protection 23 Jul 2014

(Repeats to additional subscribers, corrects date of DE Shaw stake acquisition in 13th par to July 14 from June 14)

CORRECTED-UPDATE 2-Espirito Santo family woes mount as Rioforte seeks creditor protection 22 Jul 2014

(Corrects date of DE Shaw stake acquisition in 13th par to July 14 from June 14)

UPDATE 2-Portugal president warns Espirito Santo woes could hurt economy 21 Jul 2014

LISBON, July 21 - Portugal's president warned on Monday that fallout from the financial troubles of the founding family of Banco Espirito Santo (BES) could affect the wider economy, while the bank said it was appointing a special financial advisor to help boost its capital structure.

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Gaza toll soars as Israel 'days' from completing tunnel hunt

GAZA/JERUSALEM - Israel pressed ahead with its Gaza offensive saying it was days from achieving its core goal of destroying all Islamist guerrilla cross-border attack tunnels, but a soaring Palestinian civilian toll has triggered international alarm. | Video