Business & Economy

Eurozone ministers OK $10.7 billion Greek loan

DON MELVIN and GREG KELLER Yahoo! News 30.11.2011
Eurozone ministers OK $10.7 billion Greek loan

Eurozone ministers threw a lifeline to Greece on Tuesday as they scrambled to prevent financial chaos from spreading further and driving Europe's common euro currency into a catastrophic breakup.

Europe ramps up rescue fund, may turn to IMF

Jan Strupczewski and Valentina Za Yahoo! Finance 30.11.2011
Europe ramps up rescue fund, may turn to IMF

Euro zone ministers agreed on Tuesday to ramp up the firepower of their rescue fund but couldn't say by how much and raised the possibility of asking the IMF for more help after Italy's borrowing costs hit a euro lifetime high of nearly 8 percent.


OECD: euro collapse would have 'highly devastating outcomes' worldwide

The collapse of the euro could send the world's advanced economies into a severe recession, dragging emerging markets with them into the mire, the Organisation for Economic Co-operation and Development warned on Monday.

Secret Fed Loans Gave Banks $13 Billion

Bob Ivry, Bradley Keoun and Phil Kuntz Bloomberg.com 29.11.2011
Secret Fed Loans Gave Banks $13 Billion

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.


Japanese banker, key figure in Olympus scandal, found in Hong Kong

Reuters found a Japanese banker who is a key figure in the Olympus Corp accounting scandal at a luxury apartment block in Hong Kong on Sunday, where he exploded in anger at finally being tracked down.

IMF drafting €600 billion bailout plan for Italy, Spain

The International Monetary Fund is being lined up potentially to help Italy and Spain amid growing fears that a European rescue scheme will not be able to prop up the countries.


Germany, France plan quick new Stability Pact: report

France and Germany are planning a quick new pact on budget discipline that might persuade the European Central Bank to ramp up its government bond purchases, Welt am Sonntag reported on Sunday.

Standard & Poor's lowers sovereign credit rating on Belgium

Standard & Poor's lowered its long-term sovereign credit rating for Belgium on Friday, citing the country's lack of a permanent government and a looming European recession that threatens the country's exports.


Italy collapse would be the 'end of the euro'

Italy had to pay record rates to raise €10bn this morning, while France and Germany warn that a blow-out in its giant debt mountain would signal "the end of the euro."

Massive global health fund says it's broke

The world's biggest financier in the fight against three killer diseases says it has run out of money to pay for new grant programs for the next two years — a situation likely to hit poor AIDS patients around the world.


Demonstrators Plan to Occupy Retailers on Black Friday

Some demonstrators are planning to occupy retailers on Black Friday to protest "the business that are in the pockets of Wall Street."

IMF beefs up lending tools as debt crisis spreads

Lesley Wroughton Reuters 23.11.2011
IMF beefs up lending tools as debt crisis spreads

The IMF on Tuesday beefed up its lending instruments and launched a six-month liquidity line, throwing help to countries with solid policies that may be at risk from the euro zone debt crisis.


Spain in race against time to avert bail-out

Ambrose Evans-Pritchard Telegraph 23.11.2011
Spain in race against time to avert bail-out

Markets have dashed any lingering hopes of an investor honeymoon for Spain's incoming leader Mariano Rajoy, sending the IBEX index in Madrid crashing through the 8,000 level and pushing borrowing costs to toxic levels.

Tony Blair warns of 'catastrophe' if euro collapses

Former British prime minister Tony Blair warned on Sunday that the collapse of the euro would be "catastrophic" and urged Europe to move fast to support the currency.


Chinese ratings agency threatens US with new debt downgrade

The head of China's biggest ratings agency, Dagong Global Credit Rating, is warning that it may downgrade the US's sovereign debt rating again because of Washington's failure to tackle the federal budget deficit.

Greece: Bailout Funds Held Until After Vote

Greece will not receive any more money from the eurozone emergency bailout fund until after its referendum, the leaders of France and Germany warned ahead of a G20 summit set to be dominated by the fallout from the decision.


European Bailout Fund Could ‘One Day’ Issue Bonds in Yuan, Regling Says

The euro area’s bailout fund could at some point issue bonds denominated in the Chinese currency, Chief Executive Officer Klaus Regling said in Beijing today.

Sarkozy to Seek China Aid as EU Expands Rescue Fund

Jonathan Stearns and Helene Fouquet Bloomberg.com 28.10.2011
Chinese President Hu Jintao (R) welcomes his French counterpart Nicolas Sarkozy (L).

French President Nicolas Sarkozy conferred with his Chinese counterpart Hu Jintao as European policy makers seek to build support for an enlarged rescue fund designed to resolve the region’s sovereign-debt crisis.


Texas Hospital Accused Of Trying To Send Paralyzed Illegal Back To Mexico

A Texas medical facility is being accused of pressuring a paralyzed illegal immigrant to return to Mexico.

France Likely to Lose Top Rating: S&P

John Glover Bloomberg.com 21.10.2011
France Likely to Lose Top Rating: S&P

France is among euro-region sovereigns likely to be downgraded in a stressed economic scenario, according to Standard & Poor’s.



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