Pressure on Bank of Portugal as BES fallout escalates
Banco Espírito Santo may be no more – but almost as soon as the Bank of Portugal revealed the €4.9 billion rescue package that it claimed posed “no risks to
Follow the money… the dizzy trail of digits that translates into BES’ spectacular fall from grace
There are “so many numbers that it is difficult to decipher what they all mean”. Journalist José Carlos Marques has made a good job of trying, however – and he
Bank of Portugal expected to announce 5 billion euro BES ‘bailout’ later today
By the end of today (Sunday), the government and the Bank of Portugal are expected to reveal how they will be ‘recapitalising’ (for that read: saving) trouble-torn Banco Espírito Santo.
Espírito Santo Financial Portugal now files for insolvency
With the BES share price now absolute rock bottom, analysts are all agreed – state intervention will have to be the next step. There are simply no private investors brave
BES losses confirmed at €3.6 billion as new scandals rock the Espírito Santo empire
The BES scandal escalated last night as losses in the first six months of this year were confirmed at €3.6 billion. They are not simply the worst banking losses on
BES’ €3 billion hole: “the largest loss of any bank in Portugal”
As the trouble-beset Grupo Espírito Santo faces another decisive week, the Portuguese government is reported to be “very worried”. Losses have without doubt exceeded the group’s capital cushion (€2.1 billion),
BES: €15 million funding of Portugal’s major political parties now under scrutiny
As Portugal’s news media carries daily ‘exclusives’ on the ongoing meltdown at the Espírito Santo banking empire, it is now very clear why politicians of all persuasions are keeping surprisingly
New BES boss to reveal results on Wednesday
Vítor Bento, the beleaguered bank’s new boss, is due to present BES accounts for the first half of this year on Wednesday (July 30). Analysts are said to be hedging
Former BES boss on €3 million bail as Espírito Santo group “implodes”
It has been hailed as the end of one of the “most influential centres of power” in Portugal’s political, social and financial world. Minutes after former BES boss Ricardo Salgado
Portugal’s disgraced BES bank chief and Deputy PM Paulo Portas travel to Angola in separate bids for financial support
Angola is the chosen destination this week of Deputy PM Paulo Portas, days after the disgraced former BES banking boss Ricardo Salgado allegedly travelled to Luanda in a bid for