Congress Bailouts

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  • LONDON/ MILAN, April 27 (Reuters)- European shares edged higher on Wednesday helped by gains among utilities and energy stocks, while Greek equities lost ground after euro zone officials delayed a meeting on the country's bailout. Greece's benchmark ATG equity index fell 2.8 percent, making it the worst-performing market in the region. Utilities were also...

  • BERLIN, April 27- More talks on experts level are needed on the Greek bailout programme before euro zone finance minister can meet again to discuss Athens' progress, a spokeswoman for German Finance Minister Wolfgang Schaeuble said on Wednesday. "It seems as if there is the need for more talks," spokeswoman Friederike von Tiesenhausen said during a government...

  • BERLIN, April 27- German Finance Minister Wolfgang Schaeuble said on Wednesday that the Eurogroup of euro zone finance ministers was in charge of reviewing the Greek bailout programme and Athens' progress in implementing agreed reforms. A Greek government source said on Tuesday that Prime Minister Alexis Tsipras planned to contact European Council...

  • Greece and its creditors— its European partners and the International Monetary Fund— have been struggling to agree on the reforms and cutbacks the country must make to pass the first review of its bailout program, which was originally scheduled for last October. But now it looks as if the impasse could severely delay the review, which Greece needs before it can...

  • BRUSSELS, April 26- Euro zone finance ministers will not meet on Thursday and need more time to discuss Greek reforms that would unlock new loans, signaling significant differences remain between Athens and its lenders on bailout targets. The meeting was a possibility because Athens and its EU/IMF lenders aimed to reach an agreement this week on reforms...

  • BRUSSELS— The head of the grouping of the 19 euro countries has decided against calling for a special meeting of the countries' finance ministers on Thursday to discuss the Greek bailout due to lack of progress in talks between international creditors and the government in Athens. The spokesman for eurogroup chief Jeroen Dijsselbloem tweeted late Tuesday "...

  • WASHINGTON— Debt-ridden Puerto Rico faces a $422 million bond payment deadline Sunday with no sign Congress will act in time to help. The AP explains Puerto Rico's debt crisis, what's happening in Congress and the outside forces. Agricultural revenue has diminished and federal tax incentives that lured manufacturers were phased out by Congress a decade ago.

  • TOKYO, April 25- A decade ago, Japanese automaker Mitsubishi Motors survived a defect cover-up scandal through a bail-out by other Mitsubishi Group companies. A task force at Bank of Tokyo-Mitsubishi UFJ, the banking arm of Mitsubishi UFJ Financial Group- which persuaded other group firms to rescue Mitsubishi Motors in 2004- has reconvened in recent days to...

  • ATHENS, Greece— Greek press unions have expanded a strike to protest bailout creditor-demanded reforms of their taxpayer-funded pension fund, leaving the country without newspapers and news broadcasts for several days. Journalists' unions launched their protests last week, holding two-day strikes for print, broadcast and internet media.

  • DETROIT, April 22- Steve Girsky, the one-time Wall Street analyst who was instrumental in the emergence of General Motors Co from bankruptcy and the restructuring of the company after a 2009 government bailout, is retiring from the company's board of directors, GM said on Friday. Girsky led restructuring efforts at Opel, GM's primary brand in Europe, and pushed GM...

  • AMSTERDAM— Greece's creditors said Friday they are within touching distance of an agreement over the next batch of reforms the cash-strapped country has to make to unlock further bailout funds and trigger debt-relief discussions. At that stage, the ministers and financial leaders could even start discussing how to ease Greece's long-term debt problems.

  • LISBON, Portugal— The Portuguese are getting some relief from strikes that disrupted their lives after the country's financial bailout forced authorities to cut pay, pensions and other entitlements. Official statistics show there were 105 walkouts in the first three months of this year, against 348 in the same period last year. Figures released Friday by the...

  • BRUSSELS, April 21- Greece had a primary surplus last year that beat the target set in its bailout programme, according to the European Commission, but euro zone officials said the number was already discounted in talks between Athens and lenders on reforms and debt relief. A Commission spokeswoman said Athens recorded a primary surplus- which excludes debt...

  • BRUSSELS, April 21- Greece had a primary budget surplus before debt service last year, beating the target set in its bailout programme, the European Commission said on Thursday after the EU statistics office released data on member states' budgets. A Commission spokeswoman said Athens recorded a primary surplus of 0.7 percent of Gross Domestic Product in 2015..

  • MILAN, April 20- Italy rushed to overcome last-minute hurdles to a plan to restore confidence in its banking industry on Wednesday, as a newly created bailout fund set tough conditions for the rescue of Banca Popolare di Vicenza. Popolare di Vicenza, Italy's eighth largest lender, must raise the cash and list on the stock market to plug a capital shortfall...

  • April 19- The Malaysian government on Tuesday was facing the prospect of having to bail out the scandal-tainted state fund 1 MDB, after a $4.6 billion debt deal with an Abu Dhabi sovereign fund collapsed this week. The International Petroleum Investment Company said on Monday that 1 Malaysia Development Berhad's had failed to make a $1.1 billion payment, and so...

  • April 18- Minneapolis Federal Reserve Bank President Neel Kashkari on Monday doubled down on his call for reforms to the U.S. banking system, saying that failing to make changes could leave taxpayers on the hook for big bank bailouts in any future financial crisis. His efforts have been applauded by some fellow policymakers, but Fed leaders in Washington and...

  • TRENTON, N.J.— Legislation to help struggling Atlantic City is being put on hold in the New Jersey Assembly as leaders discuss a possible compromise. Democratic Assembly Speaker Vincent Prieto said Monday that he and Senate President Steve Sweeney talked over the weekend about a possible path forward to bail out the resort town. Chris Christie said he prefers...

  • ATHENS, Greece— Greece's left-led government will present in Parliament "in coming days" key draft legislation on cutbacks that creditors have demanded and that austerity-weary unions have pledged to fight with strikes. The draft bills on pension and income tax reform are among measures under negotiation between Athens and its bailout creditors— European...

  • Woman walks past Fannie Mae in Washington.

    The government goes head to head with Perry Capital over an amendment to the bailout of Fannie Mae and Freddie Mac.