Spain's third-biggest bank by capitalisation CaixaBank is to buy Barclays' Spanish operations for 800 million euros ($1.1 billion) as the British bank undergoes major restructuring, Barclays said on Sunday.Full Story
French President Francois Hollande announced on Saturday that EU leaders would hold a summit in Italy in early October aimed at boosting growth and jobs in the bloc.
"We supported the proposal of (Italian Prime Minister) Matteo Renzi to have a summit of the 28 (EU member states) in Italy on October 6," Hollande told reporters after a meeting of center-left leaders in Paris.Full Story
Ecuador is planning to create what it calls the world's first digital currency issued by a central bank, which some analysts believe could be a first step toward abandoning the country's existing currency, the U.S. dollar.
The electronic money, which Central Bank officials say they expect will start circulating in December, does not have a name and officials would not disclose technical details, though they said it would not be a crypto-currency like Bitcoin. The amount of the new currency created would depend on demand.Full Story
The board of the International Monetary Fund reiterated its support for Managing Director Christine Lagarde Friday, after a French court placed her under formal investigation in a graft scandal.
"As we have said before, it would not be appropriate to comment on a case that has been and is currently before the French judiciary," it said in a statement.Full Story
The S&P 500 closed August with another record Friday, continuing its slow climb even as tensions pick up in Ukraine and after Britain warned of a possible terror attack.
The broad-market gauge pushed back above 2,000, the milestone it closed above for the first time on Tuesday, to finish at 2,003.37, up 6.63 points (0.33 percent) for the day.Full Story
Brazil, Latin America's largest economy, has slid into recession, further weakening President Dilma Rousseff, who faces an increasingly tough re-election battle on October 5.
GDP shrank 0.6 percent in the second quarter, Brazil's national statistics institute said Friday, and revised its formerly positive growth estimate for the first quarter down to -0.2 percent.Full Story
Eurozone inflation fell to 0.3 percent in August, raising the dangers of deflation and also pressure on the European Central Bank to open up the cash floodgates, data showed on Friday.
The latest fall takes the rate down from 0.4 percent in July and from 1.3 percent a year ago, and to far below the ECB's target of just under 2.0 percent.Full Story
More than 100 flights were cancelled at some of Germany's main airports Friday as pilots of Lufthansa's low-cost airline Germanwings walked out in a dispute over early retirement provisions.
A Germanwings spokeswoman said that out of a total 164 flights scheduled, some 116 were cancelled, impacting 15,000 passengers.Full Story
Japan's defense ministry on Friday made its biggest ever budget request, as Tokyo bolsters its military amid worries over China's expanding naval reach.
The ministry wants 5.05 trillion yen ($48.7 billion) for the year, with the focus on boosting protection of a string of southern islands that stretches from Kyushu to waters near Taiwan.Full Story
Oil prices rose in Asia Friday supported by renewed Russia-Ukraine tensions and upbeat U.S. economic data, analysts said.
U.S. benchmark West Texas Intermediate for October delivery was up 27 cents at $94.82 while Brent crude for October advanced 33 cents to $102.79 in afternoon trade.Full Story