Hypo Alpe-Adria-Bank International AG, Austria’s most costly bank failure, pushed up bad debt charges and writedowns as it found “skeletons in the closet” while speeding up its dismantling under European Union orders.
Swiss National Bank officials will defend their cap on the franc for at least another year as they endure pressure from potential policy easing in the euro area to investor demand for safe assets, economists say.
A group of Formula One teams is “having a conversation” about buying a stake in the auto racing series whose biggest shareholder is CVC Capital Partners Ltd., F-1 Chief Executive Officer Bernie Ecclestone said.
Goldman Sachs Group Inc. said Hungarian Prime Minister Viktor Orban’s re-election means “unpredictable” policies that risk weighing on growth, as the nation’s bonds suffer East Europe’s worst returns after Russia.
The forint rose to the strongest in a month after Standard & Poor’s raised the outlook for Hungary’s junk-rated sovereign debt to stable from negative on accelerating growth and an improving current-account balance.