Greek debt talks drag on but banks signal progress (AP)
Spanish banks set aside billions for toxic assets (AP) AP - Spain's three top banks said Tuesday they will set aside an additional euro6.1 billion ($8 billion) to meet a new government demand for all banks to boost their buffers against troubled real estate assets. UBS Q4 profit hit by fallout from trading scandal (AP)
German industrial output down 2.9 pct in December (AP) AP - German industrial production fell 2.9 percent in December from the month before, according to official data released Tuesday, suggesting the country's economic slowdown could be worse than expected. Swiss central banker warns on slowing economy (AP) AP - Switzerland's economy is expected to "slow considerably" this year and might require more central bank intervention to steady it despite the Swiss franc falling back against the euro, the Swiss National Bank's vice chairman said Tuesday. UBS warns of poor Q1 as investment bank struggles (Reuters) Reuters - Swiss bank UBS predicted further weakness in investment banking after a restructuring of the business failed to prevent an earnings hit from the euro zone debt crisis and worries about the global economy. ArcelorMittal posts $1 billion loss in Q4 (AP) AP - Steel maker ArcelorMittal was cautiously optimistic about its near-term prospects even after it reported a heavy fourth quarter loss generated by a deteriorating European economy and big tax and restructuring charges. EU watchdog to assess bank recapitalization plans (Reuters) Reuters - European banking regulators pore over plans this week from 31 lenders to plug a 115 billion euro ($150 billion) hole in their capital cushions and help restore investor confidence shattered by the euro zone debt crisis. France, Germany want closer control of Greek funds (AP) AP - France and Germany on Monday sought to impose tighter controls on Greece's finances and warned political leaders in Athens to agree on new austerity measures soon if they didn't want to see their country go bankrupt. You can save this news page by submitting it to your favorite sites:
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AP - Greece's private creditors signaled progress late Tuesday on a debt-relief deal but crucial talks between Greek coalition leaders about forcing more austerity upon a hostile public were again postponed.
AP - Switzerland's biggest bank, UBS AG, saw its profits slide by 76 percent in the fourth quarter, in a further sign that a $2 billion trading scandal last year has dented business at a time of economic weakness in Europe and abroad.
