AFP Bank of Italy Governor Ignazio Visco said that public intervention in the country’s banks was not to be ruled out amid growing fears the sector’s 360 billion euros (US$398 billion) in bad debt would trigger a potentially contagious banking crisis. “Given the risk that, in a context of high uncertainty, limited problems could undermine the trust in the ...

  Bloomberg The 16.9 million people receiving welfare payments from South Africa’s government into bank accounts should have the right to choose between financial services companies, according to the country’s central bank. A contract awarded by the South African Social Security Agency to Johannesburg-based Net 1 UEPS Technologies Inc to pay grants electronically in 2012 has this year been dogged ...

  AFP The outlook for Britain’s property market darkened on mounting evidence that the country’s vote to exit the European Union is weighing on asset values. Aberdeen Asset Management became the latest of seven financial groups to order a temporary suspension on redemptions from UK property funds after companies and individuals rushed to withdraw investments in reaction to Brexit. Aberdeen ...