Wall Street suffered through another brutal selloff Monday, with investors heading for the exits ahead of Thanksgiving as both the U.S. and Europe struggled to deal with their burgeoning debt crises.
After MF Global went bust, most people believe it was an extreme "spectacular recklessness" under Jon Corzine, and that the U.S. banks should have only "moderate" European Exposure. However, banking stocks have been under pressure with increasing in
Fears about out-of-control government debt on both sides of the Atlantic swept across financial markets again Monday, knocking stocks sharply lower and pushing up prices of bonds deemed to be safe havens. As fears about Italy and other debt-strapp
MADRID – Spanish voters kicked out the Socialist government Sunday in elections seen as a referendum on the handling of the European debt crisis, which has left Spain buckling under soaring unemployment, burgeoning debt and cuts in public benefits.
Italy’s new Prime Minister Mario Monti, who rose to power in what critics called a “coup d’etat,” is a prominent member of the world elite in the truest sense of the term.
NEW YORK (Reuters) - Three weeks after MF Global's collapse, furious former customers are still fighting for access to billions of dollars as they question why as much as two-thirds of their money is still frozen.
BRITAIN will soon be forced to scrap the pound and join the euro, one of Germany’s most senior figures said yesterday.
It's official - Germany has become just like China (or, rather, has always been like it): the more it is pushed to do something (let ECB print), the more it will do the opposite.
The Financial Times gives prominent play to a story that I suspect will go largely unnoticed in the US, that of the way that the Switzerland’s bank regulator, the Swiss National Bank, has forced its two biggest banks, UBS and Credit Suisse, to shed r
European Central Bank chief Mario Draghi told euro zone governments on Friday to act fast to get their rescue fund up and running, expressing exasperation at their lack of progress in response to an escalating debt crisis.
Violence has broken out in Athens, New York and across Italy as anger caused by economic strife boils over on the streets.
Over $600 million dollars in customer funds that was transferred out of MF Global in a wave of suspicious trades before the collapse of the financial broker has now been declared “missing,” despite the fact that reports earlier in the month stated th
European banks are scrambling to engineer new sources of funding as traditional ones dry up, David Enrich of the Wall Street Journal reports.
Nov. 16 (Bloomberg) -- The head of the International Monetary Fund’s European department quit less than a year into the job and was replaced by a veteran staffer as the European debt crisis worsens.
(Reuters) - Spain and France struggled with government bond auctions on Thursday, throwing into sharp relief the threat of larger euro zone economies succumbing to the debt crisis that began in Greece and is already lapping at Italy's shores.
The emergency government of Italian Prime Minister Mario Monti, which was unveiled Wednesday, isn't the first administration of technocrats Italy has tapped to pull it out of trouble.
European banks, increasingly concerned about their ability to access funding, are devising complex and potentially risky new deals that enable them to continue borrowing from the European Central Bank.
When Gold and Silver take this big a drop around the world I get the feeling that there is a sell off to cover other needs by the Big Bad Bubbas. The London Stock Market is down over 4% and I just got a feeling...
France came under heavy fire on global markets on Tuesday reflecting fears that the euro zone's second biggest economy is being sucked into a spiraling debt crisis after a warning that Paris's failure to adapt should be "ringing alarm bells".
...At-Risk With German And French Banks"
Greece Bailout Imminent? Financial Crisis Continues
The global economic situation is becoming more dire every day. Approximately half of all US banks have significant exposure to the debt crisis in Europe. Much more dangerous for the US taxpayer is the dollar's status as reserve currency
Former 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.
Dubai’s fast-growing airline Emirates kicked off the Middle East’s biggest airshow Sunday with a huge order for 50 Boeing 777s, marking the U.S. aircraft maker’s biggest-ever single order in dollar terms.
The window of opportunity to save the euro is rapidly closing, as the sovereign debt crisis erodes the solvency of Europe’s banks and drives up borrowing rates for even once rock-solid countries like France.
With Europe under mounting pressure to act quickly to tackle its debt crisis, the leaders of Italy and Greece moved forcefully on Friday to reinvigorate their governments and show their sincerity about economic austerity. Financial markets rallied on
While at a glance this may seem like a straightforward question with a simple and obvious answer, troubled Italian bank UniCredit has released a ponderous article comparing and contrasting the two heavily indebted, politically challenged, and growth-
Italy’s Senate approved debt- reduction measures in an attempt to shore up investor confidence and pave the way for a new government that may be led by former European Union Competition Commissioner Mario Monti.
As Europe’s financial crisis threatens to engulf Italy, a country that may be too big to save, top euro-zone officials have taken aggressive steps in recent days to whip errant members into shape.
Gold has confounded market watchers by refusing to behave like a safe-haven and instead has tracked equities over the past few weeks, but the escalating European debt crisis could see bullion ditch its risk-asset mantle and return to record highs