Milan / AFP Italy’s Monte dei Paschi di Siena saw its stock tumble more than 12 percent over reports the ECB had denied it more time to raise the cash it needs to avoid being wound down. The world’s oldest bank had asked the European Central Bank for two more weeks to find the funds, saying political instability created ...

  Berlin / AFP Europe’s largest economy Germany is “on a sound upward path” for faster-than-expected growth in 2016 and 2017, its central bank said, but remains at risk from Donald Trump and Brexit. Germany’s “main driver is buoyant domestic demand, which is being bolstered by the favourable situation in the labour market and by rising household income,” Bundesbank president ...

  London / AFP International banks have enquired about switching operations from London to Paris following Britain’s vote in favour of exiting the European Union, according to a senior official at France’s markets regulator. “Large international banks… have already undertaken real due diligences and we have received a lot of practical questions regarding the way they are going to be ...