Banco Bilbao Vizcaya Argentaria News
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The dollar is moving more in tandem with stocks than any time since 2008 in a sign that traders are gaining confidence in the sustainability of the U.S. recovery.
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Banco Bilbao Vizcaya Argentaria SA said its profit will be hurt after a court ruling prompted Spain’s second-biggest bank to stop applying “floors,” or clauses setting minimum interest rates, on mortgages.
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Grupo Financiero Banorte SAB, Mexico’s third-largest bank, plans to raise as much as $3 billion in the market’s biggest stock offering of the year as the company expands through acquisitions.
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Turkey stocks slumped to their lowest level this year as protesters clashed with riot police and the central bank implemented additional tightening measures to curb currency volatility.
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Fomento de Construcciones & Contratas SA, a Spanish infrastructure company, agreed to sell its stake in the water and waste-management company Proactiva Medio Ambiente to Veolia Environnement SA.
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Spain’s pensions taskforce, set up in April by Prime Minister Mariano Rajoy, said the government should be ready to cut benefits to protect the stability of the taxpayer-funded retirement system.
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The emerging market selloff sparked by speculation the Federal Reserve will reduce stimulus may cut revenue for investment banks including Standard Chartered Plc and HSBC Holdings Plc, JPMorgan Chase & Co.’s Cazenove said.
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Telefonica SA plans to boost spending in Venezuela to avoid sitting on cash that may lose a third of its value as speculation mounts that the government may devalue the bolivar for a second time this year, according to a person familiar with the matter.
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Brazil’s central bank said intensifying the pace of monetary tightening is appropriate, reinforcing bets it will raise its benchmark rate by a full percentage point over the next two meetings. Swap rates rose.
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Traders in Chile’s forwards market are underestimating the outlook for inflation after the biggest plunge in the peso in two years, say Banco Bilbao Vizcaya Argentaria and Banco de Credito & Inversiones.
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