Archive for category Business

Bank scandal tarnishes powerful Portuguese family

In this July 24, 2014 photo, Francisco Proenca de Carvalho, lawyer for Portuguese bank Banco Espirito Santo's former chief executive Ricardo Salgado, leaves a Lisbon court after Salgado was questioned about money-laundering, fraud and forgery. The Espirito Santo family business survived wars, dictatorship, revolution and family feuds for almost 150 years. Now, one of Europe's last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, and a police investigation. (AP Photo/Francisco Seco)

LISBON, Portugal (AP) — Portugal’s Espirito Santo family business survived wars, dictatorship, revolution and family feuds for almost 150 years. Now, one of Europe’s last banking dynasties is being stripped of its wealth and influence amid accounting irregularities, huge unreported debts, record losses at the family bank and a police investigation.

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Financial Markets Glance

Dow Jones Industrials

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Small businesses see revenue gains, hire workers

In this photo taken Tuesday, July 29, 2014, Liliana Aranda, owner of Faces  by Liliana, prepares to apply molecular rice mask to Dr. Austin Davis at his chiropractic office in San Francisco. Aranda's four-year-old company gives facials, massages and other spa treatments in homes or offices in the San Francisco area. (AP Photo/Eric Risberg)

NEW YORK (AP) — The long-awaited surge in hiring at small businesses appears to be underway.

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3 Putin allies among 8 hit with new EU sanctions

Russian President Vladimir Putin heads the Cabinet meeting in the Novo-Ogaryovo residence, outside Moscow, Russia, Wednesday, July 30, 2014. The meeting focused on measures to encourage Russian companies to pull their assets back from offshore. The United States and the European Union on Tuesday announced a raft of new sanctions against Russian companies and banks over Moscow’s support for separatists in Ukraine. (AP Photo/RIA Novosti, Alexei Nikolsky, Presidential Press Service)

BRUSSELS (AP) — The European Union targeted Russian President Vladimir Putin’s inner circle for the first time Wednesday for the Kremlin’s actions in Ukraine, subjecting three of his long-time associates to EU-wide asset freezes and travel bans.

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Sanctions will damage Russia if not lifted quickly

Russian President Vladimir Putin, background center, heads the Cabinet meeting in the Novo-Ogaryovo residence, outside Moscow, Russia, Wednesday, July 30, 2014. The meeting focused on measures to encourage Russian companies to pull their assets back from offshore. The United States and the European Union on Tuesday announced a raft of new sanctions against Russian companies and banks over Moscow’s support for separatists in Ukraine. (AP Photo/RIA Novosti, Alexei Nikolsky, Presidential Press Service)

MOSCOW (AP) — U.S. and European sanctions against Russia’s energy and finance sectors are strong enough to cause deep, long-lasting damage within months unless Moscow persuades the West to repeal them by withdrawing support for Ukrainian insurgents.

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