INTERNATIONAL BRIEFING
TOOLBOX   Resize
 Save/Share +
COMMENT
 Discussion Policy
 CLOSE
Comments that include profanity or personal attacks or other inappropriate comments or material will be removed from the site. Additionally, entries that are unsigned or contain "signatures" by someone other than the actual author will be removed. Finally, we will take steps to block users who violate any of our posting standards, terms of use or privacy policies or any other policies governing this site. Please review the full rules governing commentaries and discussions. You are fully responsible for the content that you post.
|
EUROPEAN UNION
Nations to Consider Soft Loans for Car Sector
E.U. nations will consider giving car makers soft loans to help them build more fuel-efficient vehicles as the region tightens standards on greenhouse gas emissions, French Finance Minister Christine Lagarde said.
E.U. car companies are seeking $52 billion from governments so they can invest in green technology. They say slumping sales and tight credit markets make it hard for them to fund the switch to less-polluting cars themselves.
BANKING
RBS Writes Down More Assets, Expects First Annual Loss
Royal Bank of Scotland Group said it could suffer its first ever annual loss this year after it announced more write-downs on bad assets in the third quarter.
RBS, one of three British banks relying on a multibillion pound government bailout, said that mounting bad loans in Britain, the United States and Asia had forced it to write down $325 million worth of assets in the third quarter.
EARNINGS
UBS posted a net profit of $252 million for the third quarter, its first after four consecutive quarterly losses, and predicted customers would continue withdrawing funds in the last three months of the year. The bank benefited from a $776 million tax credit and a revaluation of its credit positions that led to a $1.88 billion gain.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
