Banks

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Economy

Draghi: Eurozone will decline without vital productivity growth

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Currencies

Asia markets tentative ahead of Opec meeting

Wednesday 2.30am GMT Overview Markets across Asia were treading cautiously on Wednesday, following mild overnight gains for Wall Street, a weakening of the US dollar and as investors turned their attention to a meeting between Opec members later today. What to watch Oil prices are in focus ahead of Wednesday’s Opec meeting in Vienna. The […]

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Banks, Financial

RBS emerges as biggest failure in tough UK bank stress tests

Royal Bank of Scotland has emerged as the biggest failure in the UK’s annual stress tests, forcing the state-controlled lender to present regulators with a new plan to bolster its capital position by at least £2bn. Barclays and Standard Chartered also failed to meet some of their minimum hurdles in the toughest stress scenario ever […]

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Banks

Barclays: life in the old dog yet

Barclays, a former basket case of British banking, is beginning to look inspiringly mediocre. The bank has failed Bank of England stress tests less resoundingly than Royal Bank of Scotland. Investors believe its assets are worth only 10 per cent less than their book value, judging from the share price. Although Barclays’s legal team have […]

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Categorized | Economy

Eurozone current account surplus shrinks


Posted on November 18, 2016

The eurozone’s current account surplus shrank to its lowest level in almost a year in September, but remained strong at more than 3 per cent of economic output on an annual basis.

The current account balance combines the sum of the currency bloc’s trade balance, net income from abroad and current transfers.

The bloc’s monthly current account surplus shrunk to €25.3bn in September, from €29.7bn the previous month.

On an annual basis, the 12-month cumulative surplus equated to 3.2 per cent of GDP compared to 3.1 per cent in the 12 months to September 2015, driven mainly by an increase in the area’s trade surplus.