European banks hit by Chinese oil scandal
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WESTERN banks are waiting to see if the Chinese Government will act to limit their exposure to the financial scandal in Singapore in a which a company
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Officials find misconduct at three of China's big banks, the country's auditor general says.
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SINGAPORE : Singaporean authorities have launched a criminal investigation into the half-billion-dollar financial scandal surrounding Chinese oil trading firm China Aviation Oil.
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European Investment Bank president Philippe Maystadt has renewed warnings about aggressive Chinese lending in Africa, which he said could drive up debt levels dangerously.
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European equities sank on Monday, tracking sharp losses across Asia, after financial stocks seen as being exposed to the bond insurance market were stung.
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Deutsche Bank AG said it questioned China Aviation Oil (Singapore) Corp. about its finances before arranging aS$196 million ($119 million) share sale in October, a month before company
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Fresh writeoffs at big European and Japanese banks on Wednesday threw the investor spotlight firmly back onto the credit crunch after days gazing at Societe Generale's stunning losses, which it blames on a junior trader.
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European equity markets fell on Friday, with banks struggled in the wake of further unsettling writedowns related to the credit squeeze.
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China's banks will suffer a rise in  non-performing assets due to the U.S subprime crisis and  domestic credit tightening, a senior economist said in remarks  published on Tuesday amid mounting concern about the industry.
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Swiss bank UBS is urged to stop working with PetroChina, because of its owner's key role in Sudan's oil industry.
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Business & money: Bank admits it was warned on more than one occasion amid fierce criticism from shareholders
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Munich Re and other insurers pounded European bourses on Friday as a U.S. lawsuit alleging manipulation in the industry raised the specter of a financial scandal, while disappointing sales hit fashion retailer Hennes & Mauritz.
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UK shares have their worst drop in six months as Chinese stocks slump, spooking investors across Europe.
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European equities fell on Thursday, with banks, utilities and other stocks sensitive to rising interest rates at the forefront of the losses.
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SINGAPORE: Asian oil traders fear China Aviationâs $550 million trading loss will stunt derivatives trade and force a credit clampdown, particularly for Chinese firms feeding their energy-hungry economy.
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European bourses slid lower on Tuesday as heavily-weighted oil stocks fell after mild US weather forced a drop in crude prices, while profits were taken in banking stocks after the markets good run.
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Crude oil futures fell, posting their biggest two-day decline in London in two months, after China&#39;s central bank raised interest rates for the first time in nine years in an attempt to stem inflation.