A round-up of the key stories across the specialist financial media, including that a bailout of Greece will contain unprecedented controls.
Athens faces tough bail-out terms
A €130bn bail-out of Greece will contain unprecedented controls on Athens’ ability to spend funds, officials said, as European leaders scrambled on Thursday to paper over their divisions on the rescue package.
European stock markets opened higher on Friday, with investors inspired by upbeat U.S. data the prior day and renewed hopes of bailout progress for Greece.
The Dow Jones Industrial Average hit a nearly four-year high, boosted by signs of an accelerating U.S. economic recovery and glimmers of hope on the Greek debt crisis.
The UK’s Financial Services Authority has handed down a £350,000 fine to one of London’s top corporate brokers following a multi-year probe into improper trading in the shares of pub company Punch Taverns by Greenlight Capital, the $9bn US hedge fund.
A group of traders and brokers successfully managed to manipulate an interest rate that affects loans around the world, according to one bank being investigated.
