Unicredit

Europe markets open in red; all eyes on Italian bond auction

European shares fell in early trade on Thursday, tracking Wall Street lower and extending a sell-off from the previous session on concern about Italy's borrowing costs, with an auction later in the session the latest test of investor sentiment.

Recession, rising debt: Moody's downgrades 26 Italian banks

The moves marked another blow for Italy's top five banks after they were asked to find some 15 billion euros by June to meet tougher capital requirements

Loss-making UniCredit seeks $10.3 bn, cuts 6,150 jobs

Italian bank UniCredit is to ask shareholders for 7.5 billion euros in new capital, cut 6,150 jobs and retreat from key business areas in a bid to repair its ravaged balance sheet and return to profit.

S&P downgrades 24 Italian banks, including BMPS

Standard & Poor's today downgraded its ratings of 24 Italian banks, including major lenders BMPS and UBI Banca, citing the deteriorating economic condition in the country.

Hungary's woes could cost Indian companies

Why should India worry about the problems of tiny Hungary? It's the newest chapter in Europe's rolling crisis and it could cause borrowing costs to rise not just in Europe but India too.