The European Central Bank’s willingness to let lenders fail will depend on the funds available to wind them down, analysts said, after the new head of banking supervision said some should go out of business.
The former Apple Inc. graphics designer who created the smiling computer icon for the original Macintosh testified that the application screen on Samsung Electronics Co. phones is “substantially similar” to the iPhone design patented by Apple.
Spanish defaults as a proportion of total lending climbed to a record in August as companies and consumers struggled to make loan payments in an economy with an unemployment rate that’s still above 26 percent.
Europe’s biggest banks, led by Lloyds Banking Group Plc and Deutsche Bank AG, have racked up more than $77 billion in legal costs since the financial crisis, five times their combined profit last year.
Royal Bank of Scotland Group Plc damped speculation of an immediate sale of the government’s stake in the bank after the lender said it’s poised to repay the last of the emergency loans received in its bailout.
German stocks declined as Siemens AG reported earnings that missed estimates and a meeting of euro- area finance ministers finished without making progress on a debt-swap deal for Greece’s private creditors.