Stress tests on European banks need to mark down the value of Greek government debt by about 16 percent, sources said, as regulators haggled over how much detail to reveal about the health checks.
European regulators haggled over how much detail to reveal about health checks on the region's lenders in a fight that may undermine the exercise's aim of restoring confidence.
Volkswagen Group sold more than 3.5 million cars to customers world wide in the first half of 2010, the company's chief executive said on Tuesday.
The euro fell from seven-week highs against the dollar on Wednesday on concerns about the growth outlook for the global economy and plans to test the financial health of European banks.
European regulators were debating how much detail to reveal about health checks of the region's banks on Wednesday, in a fight that may threaten to undermine the purpose of the exercise.
The stress tests for European banks will not include a haircut on German sovereign bonds, two banking sources in Germany told Reuters on Wednesday.
The euro fell from seven-week highs against the dollar on Wednesday on concerns about the growth outlook for the global economy and as investors scrutinized details of plans to test the financial health of European banks.
U.S. online retailer Amazon.com Inc has launched an Internet grocery service in Britain, it said on Wednesday, joining a fast-growing but competitive market.
The euro slipped off seven-week highs against the dollar on Wednesday on concerns about the global economic recovery and as investors scrutinized details of plans to test the financial health of European banks.
Stock index futures edged down on Wednesday and followed international equity markets lower as fears persisted of a slowdown in the global economy.
European Union bank regulators were expected to reveal on Wednesday how tough their health checks of the region's banks will be, in the hope of restoring confidence to markets worried about ballooning public debt.
European bank regulators will seek to safeguard the credibility of health checks on top banks by showing how the tests are done, to allay investors' fears of political meddling.
The pace of global expansion in the private sector sagged in June to a four-month low, according to a survey on Tuesday that pointed to slowing growth in order books and employment.
The last 24 hours has seen the AUD hold a relatively tight trading range, with expectations that this will continue today until the RBA interest rate decision due to be released at 2:30pm (AEST).
Internecine civil wars are underway almost everywhere within the West, and most virulently in the United States of America. They are not yet kinetic wars, but wars of grinding prepositioning, the kind which lead to foregone conclusions without a shot being fired. They are wars of survival, nonetheless, because the basic architecture for national strength is being altered incrementally or dramatically. And, in many cases, consciously.
Germany's strong run in the World Cup may be the catalyst for a growth spurt by Europe's largest economy, as consumers riding the feelgood factor of national success dip in to their savings and start spending again.
Germany plans to cut net new borrowing by some 80 billion euros ($100 billion) over five years, reducing supply of Europe's benchmark debt and adding pressure on other euro zone members to tighten their own public finances.
With the global economy slowing, interest rates about as low as they can go, governments getting austere and banks being investigated for stress, it is getting harder for investors to keep putting on their bullish faces.
Germany and France will call on the European Commission to submit proposals for a European financial market transaction tax, German Finance Minister Wolfgang Schaeuble said on Friday.
Airbus and Boeing clashed over aid for the next generation of European passenger jets on Thursday, while details emerged on the battleground for possibly lengthy appeals following a major trade ruling on aircraft subsidies.
Manufacturing growth cooled around the world in June, with China hitting its slowest pace in more than a year and growth in the United States and Europe also easing -- further evidence that the global economic recovery is moderating.
Details of Europe-wide testing of banks' financial vulnerabilities are still being worked out as an end-of-July deadline to publish the stress test results for individual banks looms, the Bundesbank said on Thursday.
