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BusinessReutersMonte dei Paschi in last ditch push to see through capital raise
Monte dei Paschi di Siena's (MPS) plan to proceed with a capital raise is entering a decisive stage with CEO Luigi Lovaglio and the banks due to guarantee the sale still hammering out final details, people close to the matter said. MPS aims to launch the new share issue for up to 2.5 billion euro ($2.5 billion) on Oct. 17. To meet its deadline MPS must approve the terms of the share issue at the very latest by the middle of next week, two people said.
BusinessReutersWall Street tumbles as jobs growth cements rate hike bets
(Reuters) -U.S. stocks nosedived on Friday as solid job growth and a drop in the unemployment rate last month boosted the chances of more jumbo-sized interest rate hikes, while a revenue warning from Advanced Micro Devices hit chipmakers. The Labor Department's closely watched employment report showed nonfarm payrolls increased by 263,000 jobs last month after rising 315,000 in August. Traders now see a 92% chance of 75 basis-point hike by the Federal Reserve, up from 83.4% before data.
