Tag "3"

Greeks seek debt relief as EU steps up warnings

BRUSSELS/ATHENS (Reuters) – Greek negotiators were expected to press the country’s international creditors for debt relief on Sunday as Europe stepped up pressure on Athens to offer major concessions on austerity and reform or face dire consequences. Neither side doubts the urgency of reaching a deal as Greece must repay 1.6 billion euros ($1.8 billion) to the International Monetary Fund by the end of this month or default, putting its

Exclusive: China to extend economic diplomacy to EU infrastructure fund

China will pledge a multi-billion dollar investment in Europe’s new infrastructure fund at a summit on June 29 in Brussels, according to a draft communique seen by Reuters – Beijing’s latest round of chequebook diplomacy to win greater influence. While the exact amount is still to be decided, the pledge will mark the latest step in China’s efforts to shape global economic governance at the expense of the United States,

Hopes high for Thiam turnaround at Credit Suisse

ZURICH/LONDON (Reuters) – Tidjane Thiam starts work as CEO of Credit Suisse (CSGN.VX) next month with investors optimistic he can bring about a major change of strategy at the bank, even if he has to raise cash to do it. An expectation that the 52-year-old will successfully switch Credit Suisse’s focus to lucrative Asian wealth management and shrink its cash-intensive investment bank has propelled the Zurich-based lender’s shares around 12