After yet another midnight wait for a more or less cryptic "policy" statement by EU officials, CNBC puts together a translation of the hermetic euro policy language into plain English.
Yesterday, Fitch Ratings downgraded Minnesota from AAA to AA-plus. Minnesota is locked in a budget battle and was required to balance its budget by midnight on June 30 or face a shutdown of its government. Minnesota missed the deadline and the government is now shut down.
Americans who illegally download songs and movies may soon be in for a surprise: They will be warned to stop, and if they don’t, they could find their Internet access slowing to a crawl, the New York Times reports.
After steadily climbing for several years, the number of Americans filing for bankruptcy is on the decline, though that is not necessarily an indicator of an improving economy the New York Times reports.
The markets seem to believe that the federal government will raise the debt ceiling before August 2. And the markets may be right.
A Delaware judge on Tuesday authorized the Los Angeles Dodgers to enter into a $150 million bankruptcy financing arrangement after the club satisfied certain concerns raised by Major League Baseball, which had filed an objection offering its own financing proposal and blasting owner Frank McCourt's stewardship of the team.
"It is not unrealistic for China to backstop the euro zone crisis," said Mark Mobius, the executive chairman of Templeton Emerging Markets Group in an interview with CNBC on Tuesday from Monaco.
Early this morning, Los Angeles Dodgers owner Frank McCourt filed for Chapter 11 bankruptcy in what was his last attempt to keep the team under his ownership. Sal Galatioto, president of sports investment bank Galatioto Sports Partners, stopped by on CNBC's The Strategy Session today to discuss the recent development.
I blogged Friday that Dykstra has started tweeting, a difficult task considering the only mode of communication in lockup is a pay phone. Who was actually running his Twitter account? This weekend, I heard from that person—Daniel Herman, who says he is Dykstra's business manager.
Sal Galatioto, Galatioto Sports Partners, offers a look at what happens when a professional sports franchise files for bankruptcy.
The Los Angeles Dodgers filed for bankruptcy this morning and have promised that all players will get paid. That being said, the players are of course the largest creditors in the filing.
The Los Angeles Dodgers have filed for bankruptcy protection in a Delaware court.
Financial markets should brace themselves for a restructuring of Greek debt in September, Barry Eichengreen, Professor of Economics at the University of California, Berkeley said on Thursday.
Jonathan Henes compares the Greek debt crisis to a sequel to “Too Big to Fail,” when without a plan or a process, the government let Lehman fail and chaos ensued.
Your biggest competitor goes under. Should be good for business, right?
A friend of mine who runs a hedge fund likes to say, “I have seen this movie before, and I know how it ends…badly.” With respect to Greece, ironically, not only can we metaphorically say we’ve seen this movie before, but, in many ways, we have actually seen it - at least a movie of the same genre.
The executive in charge of restructuring Lehman Brothers sees some "striking" similarities between his company and Greece, he told CNBC Thursday.
Even if the debt ceiling is not raised, the United States will not default on its debt. The talk about a United States default is political and a red herring — it will only default if it chooses to do so.
Imagine that you are sitting in your house, watching flood waters rise, fearing that your house could be washed away and the government walks in and says, “here’s our plan to save your house - we are going to add more water to the flood.” After realizing this was not a joke, you would run, not walk, to find higher ground and kiss your house goodbye.
Confidence in the new plan to save Greece is misplaced according to Carl Weinberg, the chief economist at High Frequency Economics.