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European Union paymaster Germany said on Tuesday that it would support giving the European Central Bank more capital to help fight a sovereign debt crisis that continues to shake the euro zone.
ECB sources told Reuters the bank’s governing council would consider at a meeting on Wednesday and Thursday whether to seek a capital increase from euro zone members to cover the risk of losses on government bonds it has bought to support the 16-nation single currency area. Get the full story »
A bribery investigation into a Hewlett-Packard Co. government contract in Russia has broadened to include more deals dating back to 2000.
In a statement Friday, HP said it is cooperating with authorities, “who have now expanded their investigations beyond” a transaction with the Russian prosecutor’s office. Get the full story »
Raids at Credit Suisse’s private banking offices in Germany have been a success and may help identify bank staff in Switzerland as part of a tax evasion clampdown, German prosecutors said Friday.
This week’s raids were the latest steps in an international crackdown on suspected tax cheats in offshore centers that saw Swiss wealth management giant UBS agree to an hefty settlement in a bitter U.S. tax probe last year. Get the full story »
The European Union’s executive says Europeans should not retire before 70 to save cash-strapped state pension funds.
In a paper to be published Wednesday, the European Commission says four workers’ contributions to state pensions help support two retirees. Get the full story »
