A Reuters report said banks would need to increase their capital by USD155 billion or EUR115 billion in order to comply with the global Basel III accord.
Europe
EU imposes rigid fiscal scrutiny
A new era of rigid fiscal scrutiny would be imposed by the European Commission to prevent repeated occurrences of financial turmoil and to aid the region's debt crisis.
IMF and EU halts Greece bailout aid discussions
Greece international lenders had temporarily halted their latest bailout fund to Greece, according to a Reuters report.
Etisalat extension provided for Maroc acquisition
The new deadline is now at October 31 for the acquisition of Vivendi's shareholdings in Maroc Telecom by Etisalat.
Iconic Harrods to undergo renovation
The escalator at Harrods would undergo a major facelift and renovation. Qatar's newly acquired luxury London department store, Harrod's, had laid out plans to undertake a multi-million renovation as part of the investment from the Gulf state in the world renowned brand.
Latest News
There has been an increasing clamor from politicians, store associations and laborers alike to ease store hours regulations amidst a struggling French economy.
According to a Reuters report, a struggling Alitalia would be closing shop soon if it won't be getting the cash it needs to implement Alitalia CEO Gabriele Del Torchio's long-term plans.
US and British regulators had charged interdealer broker firm ICAP's European arm and three ex-employees for rigging the London interbank offered rate to their benefit.
Kaufhof CEO Olaf Koch, in an interview, said the company is doing well and not considering mergers. Kaufhof, the German department store chain, is doing well but its owner Metro is planning to sell it.
The European Securities and Markets Authority had sought for the imposition of a levy for non EU clearing house operators.
Berlin is the site for the European headquarters of Etihad Airways. Eithad Airways recently unveiled its new headquarters in Berlin, enhancing the Gulf aircarrier's presence in Germany as well as the whole of Europe.
Marek Belka, Poland's Central Bank Governor, had urged local banks to find opportunities through purchase of local rivals that are owned by foreign banks.
Hugo Dixon said the Euro zone needed macroprudential and counter-cyclical fiscal policies to mitigate the results of their single monetary policy.
The South Korean technology firm Samsung offered to settle with the EU Competition Commission as to the patent lawsuits currently being investigated.
