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Banking

European shares rise on Fed pause hopes

Fed meeting eyed later in the dayEntain to buy Poland-based betting operator for $946 mlnLogitech slides after CEO exitGrifols surges on plan to reduce stake in Shanghai RAASSTOXX 600 up 0.4%, European banks add 1.1%June 14 (Reuters) - European shares rose on Wednesday, supported by banks and miners, ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve.The pan-European STOXX 600 index (.STOXX) closed 0.4% higher.Banks (.SX7P), which tend to benefit from higher rates, rose 1.1%. Italy (.FTMIB) and Spain's (.IBEX) lender-heavy indexes rose 0.9%...
Money

Analysis: US hotel developers run out of cash as construction lending dries up

June 5 (Reuters) - Tighter lending standards from regional banks are making it harder for U.S. hotel developers to secure funding, slowing construction of new hotels at a time Americans' appetite for travel is ripe.Hotel developers, private equity firms, and general contractors told Reuters the financial stress on regional banks -- the largest lenders to hotels and other commercial real estate markets -- has forced developers to postpone projects or find other creative ways to raise capital.The hotel industry's predicament highlights the impact on the broader U.S. economy of the...
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