Show Hide image

Morning Wrap: need to know business stories

Top stories from around the web.

Spain’s banks face €10bn more provisions (FT)

Spanish banks will need to put aside extra provisions of up to €10bn to cover loans that borrowers will struggle to repay, according to an internal estimate by the Bank of Spain.

HSBC's $1.9bn money laundering settlement could be rejected (Telegraph)

Judge John Gleeson is considering cancelling December’s so-called deferred prosecution agreement that gave HSBC immunity from claims it allowed terrorists to move at least $881m (£584m) around the financial system.

Japan's Nikkei drops again after falls on Thursday (BBC)

Shares in Japan have fallen again in volatile trade, adding to the global sell-off in shares seen on Thursday.

The Nikkei index was down 1.8% by mid afternoon in Tokyo, after initially rising in early trading. Other Asian indexes also broadly down.

ENRC says hackers may have stolen data (FT)

Eurasian Natural Resources Corporation has warned that data on the London-listed mining group may have been stolen following a computer hacking attack and a domestic burglary.

ENRC said it had notified the UK’s Information Commissioner, which monitors breaches of confidential data on individuals, of two incidents that could involve “potential loss of data”.

UK first quarter growth unchanged (BBC)

The UK's economy grew at 0.3% in the first three months of the year, official figures have confirmed.

The figure from the Office for National Statistics is unchanged from the initial estimate it gave in April.