FRANKFURT / REUTERS Euro zone banks should be encouraged to keep more of their profits rather than pay dividends, to bolster their capital and finance new loans, the head of research of the Bank of International Settlements (BIS) said on Thursday. The euro zone has been battling low economic growth and sluggish lending for years, and banks have complained that ...

NEW DELHI / AFP A group of Indian banks rejected on Thursday embattled businessman Vijay Mallya’s offer to repay $600 million in unpaid loans, less than half of what his defunct airline owes them. The banks told the Supreme Court in New Delhi that they wanted the 60-year-old flamboyant entrepreneur to return to India so they could negotiate with him ...

MADRID / AP A union representing bank workers says Spain’s biggest bank is planning to lay off 1,200 workers as part of a restructuring plan that will also shutter more than 400 branches. The UGT union says Banco Santander SA’s plan calls for half of the employees to take early retirement and receive 70 percent of their annual pay. UGT ...