Argentina central bank holds reference rate steady after eight cuts
BUENOS AIRES, Sept 27 Argentina's central bank held its reference rate at 26.75 percent on Tuesday, ending an eight-week cutting cycle as policymakers try to damp inflation.
MILAN Dec 14 Italian carmaker Fiat commented on press reports on Friday it was in talks with banks to explore a possible capital increase, saying it had "no specific project" regarding a capital increase, and that it had no need for one.
"The Italian newspapers Il Messaggero and Il Mattino reported this morning about alleged Fiat's ongoing talks with banks regarding a proposed share capital increase," the company said in a statement.
"Fiat states there is no specific project in such respect, and believes that there is no need for a capital increase," it said.
An unsourced report in Il Messaggero on Friday said Fiat was sounding out UniCredit, Morgan Stanley, Bank of America and Goldman Sachs about the possibility of raising between 1 and 2 billion euros ($1.3-$2.6 billion).
NEW YORK, Sept 27 Royal Bank of Scotland Group Plc will pay $1.1 billion to resolve a U.S. regulator's claims that it sold toxic mortgage-backed securities to credit unions that later failed, the U.S. National Credit Union Administration said on Tuesday.
CHICAGO, Sept 27 Bonds sold by U.S. states, cities, schools and other issuers in the municipal market could be held as liquid assets by banks under legislation introduced on Tuesday in the U.S. Senate, bolstering the case for purchasing the debt while helping financial institutions weather market crises.