PHILIPPINES PRESS-S&P says higher rates unlikely to hurt Philippine banks - BusinessWorld
Higher interest rates, expected later this year, could cool property prices somewhat but won't hurt the health of Philippine banks' home mortgage portfolios, global debt watcher Standard & Poor's said, according to a BusinessWorld newspaper report.
NOTE: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Manila Newsroom; Editing by Sunil Nair)
UPDATE 1-Milan court orders trial over Monte dei Paschi trades -legal sources
MILAN, Oct 1 A Milan court has ordered Banca Monte dei Paschi di Siena, Nomura and Deutsche Bank to stand trial for a string of alleged financial crimes, legal sources said on Saturday.
Texas businessman Wyly strikes $198 million deal with SEC
NEW YORK, Oct 1 Texas businessman Sam Wyly has agreed to pay $198.1 million to resolve claims by U.S. securities regulators that he engaged in a long-running securities fraud to hide trades in companies he controlled using offshore trusts, according to a court filing.