Hartford, Connecticut’s fiscally distressed capital city, will get a much-needed lifeline after its city council on Monday approved a deal to have the state pay its debt. The accord, part of a broader oversight plan that state lawmakers agreed to …
Taiwan’s government will pay Transglobe Life Insurance T$88.4 billion ($3 billion) to take over ailing rival Kuo Hua Life after Transglobe beat out other competitors in the biggest taxpayer-funded bailout ever by the island state. Taiwan’s overcrowded life insurance industry …
The Netherland’s based ING Groep NV has agreed to a deal with European regulators on when it will repay the remaining €3 billion ($3.84 billion) it still owes in state aid. The bank, which fell afoul of EU laws when …
A public clash between Greece’s international lenders over how Athens can bring its debts down to a sustainable level has reignited fears that the crisis could flare up anew. Euro zone finance ministers suggested that Greece, where the euro zone …
Just when Spain, and the euro zone, needed it least, along comes the Catalan secession drama to remind us exactly how many parties, peoples and factions have the potential to undermine the single currency’s salvation. Not that Catalonia is likely …
The euro zone debt crisis was born in Greece. Nearly three years and two bailouts on Europe must decide whether to give the country yet more help or cut it loose. For all its complexities, Greece’s problems essentially come down …
Dutch banking and insurance group ING now expects a quick sale of parts of its $7 billion Asian insurance business as it seeks to repay state aid and meet European requirements for its 2008 state bail-out, its chief executive said …
The Netherlands-based group ING, which has been forced to sell assets in return for receiving state aid during the financial crisis, said it is considering the sale of its UK and Canadian online banking units, estimated to be worth about …
The Royal Bank of Scotland, which is majority owned (82 percent) by the UK government, confirmed on Friday it has dismissed a number of employees for misconduct as a result of its investigations into the Libor interest rate rigging scandal …
Direct Line, the UK’s largest motor [auto] insurer run by government-owned Royal Bank of Scotland, is a takeover target for private equity groups looking to pre-empt what would be one of the biggest initial public offerings in London this year. …
