Italian Prime Minister Mario Draghi plans to set up a board of technical experts to strictly oversee management of Italy's five-year Recovery Plan, according to a draft government decree obtained by Reuters.
Investor sentiment in Germany surged in May thanks to a third wave of the COVID-19 pandemic tailing off, a survey showed on Tuesday, pointing to a significant upswing in Europe's largest economy in the coming six months.
Both Amazon and Facebook will fall under new proposals for a global minimum corporation tax agreed by the Group of Seven on Saturday, United States Treasury Secretary Janet Yellen said.
2 Min Read
LISBON, June 5 (Reuters) - Portugal’s Resolution Fund said it had injected another 317 million euros ($386 million) into Novo Banco, which emerged from the collapse of Banco Espirito Santo (BES) in 2014.
The new injection on Friday is contentious in Portugal as Novo Banco is 75% owned by U.S. private equity fund Lone Star and because the state-backed fund, which has the remaining 25%, has already provided 3 billion euros in capital since 2017.
Although all Portuguese opposition parties are against any further injection of public money, the government last week authorized the resolution fund to do so.
The resolution fund said in a statement that the capital injection was carried out on Friday and was “fully financed” by a syndicate of seven Portuguese banks, which on Monday lent 475 million euros to the fund.
The world's leading nations can secure historic agreements over tax rates and countering the COVID pandemic when they work together, United States Treasury Secretary Janet Yellen said on Saturday, hailing the level of collaboration at the G7.