Briefs, November 29, 2012

The European Union has approved the payment of €37 billion (HK$371 billion) in bailout loans to four of Spain's struggling banks - provided each of them cut its loans and investments by 60 per cent. The sum is part of a €100 billion credit line approved by the other 16 euro-zone countries to shore up Spain's banks. AP

BP, which pleaded guilty to criminal charges after the worst US oil spill occurred in 2010, will be temporarily suspended from winning new contracts from the federal government, the US Environmental Protection Agency said. It said the ban was imposed because BP's conduct during the fatal incident showed a lack of integrity. Bloomberg