A round-up of the key stories across the specialist financial media, including news that shares in Spanish bank Bankia plunged by more than a quarter on Thursday morning
Bankia hit by reports of withdrawals
Shares in Bankia, the Spanish bank that was part-nationalized last week, plunged by more than a quarter on Thursday morning, after a report that customers had withdrawn €1 billion from the bank over the past week.
The world’s 29 largest global banks will need to raise an additional $566 billion in new capital or shed about $5.5 trillion in assets by 2018 to meet the new tougher Basel III bank capital standards, a new study by Fitch Ratings has found.
Gold demand in China may surge as much as 30% this year as rising incomes boost consumption, helping the country topple India as the world’s largest bullion market on an annual basis, according to the World Gold Council.
White House steps up push to toughen rules on banks
In the wake of losses at JPMorgan Chase, the White House is seeking to ensure a tough interpretation of a regulation designed to prevent banks from making bets with their own money, according to people familiar with the matter.
Walmart Stores Inc posted a better-than-expected quarterly profit on Thursday, including a 2.6% rise in sales at its Walmart US division's stores open at least a year, as warm weather and an earlier Easter enticed shoppers to spend.
