BEIJING Domestic authorities in European Union member states should stress-test their financial institutions for cyber risks, a top E.U. supervisor said, warning banks might be required to hold extra capital as a buffer against what is an emerging threat.
(This May 25 story corrects headline and first paragraph to reflect that foreign exchange was not part of Wednesday's settlements)
MILAN Italy's recently-created bank rescue fund Atlante is negotiating to backstop a 1 billion euro (0.74 billion pounds) initial public offering (IPO) for Veneto Banca, two sources told Reuters on Thursday.
Prosper Marketplace has hired investment banks Financial Technology Partners LP and JPMorgan Chase & Co to explore strategic alternatives, including selling equity in the company, according to people familiar with the matter. Prosper, a privately held U.S. online lender, is seeking capital to shore up its funding base, and considering options that include selling a minority or majority stake in the company, the people said this week.
BEIJING The People's Bank of China will keep policy slightly loose to support the economy, which still faces downward pressure, the China Business News said on Thursday, cited a report written by the central bank's monetary policy analysis team.
LONDON Atlas Mara , the African investment vehicle of ex-Barclays boss Bob Diamond, on Thursday reported a $2 million (1.3 million pounds) loss for the first quarter on Thursday, blaming weaker African currencies and a more challenging economic backdrop.
TORONTO/NEW YORK Bank of Montreal will shed around 4 percent of its 46,000 workforce as part of a drive to cut costs, staff were told in a memo on Wednesday after the lender reported a decline in quarterly profit.
PARIS Executives at Credit Agricole and BNP Paribas sought on Wednesday to convince lawmakers they were taking sufficient steps to prevent French customers from using blacklisted tax havens.
SHANGHAI The National Development and Reform Commission (NDRC), China's top economic planning agency, recently invited Citigroup Inc for an exchange of views on managing risks associated with Chinese firms issuing offshore debt.
FRANKFURT Deutsche Bank expects to see strong growth in Asia for its global payments and trade financing business in the coming years, despite recent signs of emerging market cooling, the head of its Global Transaction Banking unit said.