Bloomberg As Italian taxpayers contemplate the $19 billion bill to clean up two failed Veneto banks, Intesa Sanpaolo SpA shareholders cheered. The nation’s second-largest bank is taking over the good assets of Banca Popolare di Vicenza SpA and Veneto Banca SpA for 1 euro and will also receive 5.2 billion euros ($5.83 billion) from the state to maintain its capital ...

Bloomberg Mozambique’s smaller banks should combine in an effort to overcome the blow dealt by government debt defaults after four lenders failed over nine months. The country’s debt crisis threatens to unravel efforts by the central bank to strengthen the nation’s financial system through the introduction of new capital and liquidity rules. Central bank Governor Rogerio Zandamela said last week ...

Bloomberg Two and a half years after SpiceJet Ltd was forced to ground its entire fleet on its inability to pay a mere US$2.2 million in fuel bills, the budget airline has become the world’s best-performing airline stock — with US$26 billion in plane orders to boot. The company’s co-founder and Chairman Ajay Singh has played the white knight, injecting ...