logo
Portuguese police raid public offices, including central bank, in IT-related probe

Portuguese police raid public offices, including central bank, in IT-related probe

Reuters03-04-2025
LISBON, April 3 (Reuters) - Portuguese police on Thursday raided the offices of several public institutions in a corruption probe involving the acquisition of information technology services, including at the Bank of Portugal, which confirmed the searches.
Police said in a statement they were carrying out 75 searches in Lisbon, Porto and Braga at homes, accounting firms, company headquarters, and public institutions, targeting employees rather than any high-ranking public officials.
The Bank of Portugal confirmed in a statement it was one of the entities targeted by the searches and that it was fully collaborating with the investigation.
The police said the searches were related to IT services contracts of several public entities and by a private company in 2017-2025, over suspicions of active and passive corruption, document forgery, fraud, influence peddling and other crimes.
They said the targets of the investigation were "a group of individuals who, through joint efforts and in a premeditated manner, tainted dozens of public and private contracting procedures, for a global value of no less than 17 million euros ($19 million)".
"These searches are intended to gather information related to employees of these services and were not aimed at political decision-makers," the police said.
($1 = 0.9050 euros)
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Airbus posts higher quarterly profit, maintains forecasts
Airbus posts higher quarterly profit, maintains forecasts

Reuters

time37 minutes ago

  • Reuters

Airbus posts higher quarterly profit, maintains forecasts

PARIS, July 30 (Reuters) - European planemaker Airbus ( opens new tab on Wednesday posted a higher-than-expected second-quarter profit, boosted by its defence and helicopter units, and maintained full-year forecasts as it aims to catch up on delayed jetliner deliveries. The world's largest jetmaker - which also makes satellites, fighters and civil and military helicopters - said its widely watched adjusted operating profit almost doubled to 1.58 billion euros as revenues remained broadly flat at 16.07 billion euros. It also announced plans to raise production for its A330neo jet to 5 aircraft a month in 2029 to meet buoyant demand, while keeping other production targets unchanged. Analysts were on average expecting adjusted operating income of 1.47 billion euros on revenues of 15.78 billion euros in the second quarter, according to a company-compiled consensus.

US Treasury keeps notes, bonds auction sizes steady, increases debt buybacks
US Treasury keeps notes, bonds auction sizes steady, increases debt buybacks

Reuters

timean hour ago

  • Reuters

US Treasury keeps notes, bonds auction sizes steady, increases debt buybacks

NEW YORK, July 30 (Reuters) - The U.S. Treasury Department said on Wednesday it does not anticipate increasing auction sizes for notes and bonds for at least the next several quarters, in line with market expectations, as it announced a $125 billion refunding from August to October 2025. It will, however, continue to make incremental increases to the size of Treasury Inflation-Protected Securities (TIPS) and T-bill auctions. "We use T-bills as a shock absorber for unexpected, seasonal or short term variations in borrowing needs as part of our regular and predictable issuance plan," a senior Treasury official said in a call with reporters on Wednesday. "That's because we believe ... changes in borrowing needs and addressing them in the people market is the most effective way to borrow at the least cost over time because of the ability of that market to absorb those kind of short-term changes. We think that the level of bill issuance offered today is very consistent with those plans and has helped us in light of the changes." In a statement, department will further sell $58 billion in U.S. three-year notes, $42 billion in 10-year notes, and $25 billion in 30-year bonds next week. These were the same auction sizes for the same securities announced at the February refunding. The Treasury also announced it will double the frequency of long-end nominal buybacks and increase the size of cash management buybacks, all aimed at improving liquidity in the market. The changes to the buybacks will take effect on August 13. "The Treasury will be focusing more on bill supply and they are trying to help market liquidity by increasing the sizes and frequency of buybacks, especially in the long end of the curve," said Gennadiy Goldberg, head of U.S. rates strategy, at TD Securities in New York. "So net net, this should be slightly positive for the long end." Long-dated Treasuries briefly rallied after the refunding announcement, pushing their yields lower. But their yields were last higher on the day as the initial impact from the refunding was muddied by the strong U.S. gross domestic product number. U.S. 10-year yields were last up 4.4 basis points at 4.372% . The Treasury announced that it's increasing the frequency of liquidity support buybacks in both the 10- to 20-year and 20- to 30-year nominal buckets to four times per quarter from two currently. But it will keep the current $2 billion maximum purchase per operation in both sectors. With respect to the other nominal coupon pairs, the department will continue to conduct one liquidity support operation per quarter for up to $4 billion. All told, the changes will lift total size of liquidity support buybacks from a maximum par amount of $30 billion per quarter to $38 billion. The Treasury is also increasing the size of cash management buybacks from a maximum $120 billion per year to $150 billion. For this quarter, however, it does not expect conducting cash management buybacks around the September tax date due to the ongoing rebuilding of the Treasury's cash balance. Cash management buybacks will resume in December, the Treasury said. Overall, the Treasury's financing plan will refund about $89.8 billion of privately-held Treasury notes and bonds maturing on August 15 and raise new cash of $35.2 billion from private investors. The Treasury also stressed the focus on T-bill issuance this quarter. It expects further marginal increases in T-bill auction sizes in coming days and then maintaining sizes at or near those levels through the end of September. It added that further increases in T-bill auction sizes are anticipated in October. "This guidance (on T-bill issuance) will continue to be the focal point of future refunding announcements," wrote Tom Simons, chief economist at Jefferies in a research note. "(Treasury) Secretary (Scott) Bessent has made it clear that he is carefully considering the best strategy and timing for terming out the debt versus continuing to lean on the front-end. At some point, perhaps after a few Fed (Federal Reserve) rate cuts, issuance of more coupons will be more attractive." Median forecasts from primary dealers estimated that Treasury could increase bill supply by $260 billion over a month and by $600 billion over a quarter without causing significant price deviations in bills relative to fair value, according to minutes of the meeting on Tuesday of the Treasury Borrowing Advisory Committee released on Wednesday. With respect to TIPS, Treasury plans to maintain the 30-year TIPS reopening auction size at $8 billion for August, increase the 10-year TIPS reopening auction size to $19 billion in September, and increase the October 5-year TIPS new issue auction size to $26 billion.

UK regulator to review alternative energy pricing for consumers
UK regulator to review alternative energy pricing for consumers

Reuters

timean hour ago

  • Reuters

UK regulator to review alternative energy pricing for consumers

OSLO, July 30 (Reuters) - Britain's energy regulator Ofgem on Wednesday announced a review into how costs are allocated across the energy system, including alternative pricing models for consumers, to better adapt to more renewable energy supply. Britain has a target to largely decarbonise its power sector by 2030 which will mean reducing its reliance on gas-fired power plants and rapidly increasing its renewable power capacity. Less reliance on the price of gas is expected to bring down the variable costs of the energy system, Ofgem said. "However, fixed costs, such as those needed to upgrade the energy network to deliver cleaner and more secure power to our homes – could rise," Ofgem chied executive Jonathan Brearley said in a statement. Under the current regimes, system costs are paid for by energy system users and consumers through their energy bills, with separate stand-alone bills for electricity and gas. Given the expected system changes and increasing proportion of energy costs on household bills than previously, now was the right time to look at potential alternative models in how bill-payers are charged, Ofgem said. This included ensuring that increased fixed costs do not disproportionately affect vulnerable and low-income consumers, it added. The regulator stressed that it is only seeking views at this point and is not recommending any specific option.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store