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Given shrill warnings about the U.S. deficit, the casual listener might think the U.S. faces a Greece-like debt disaster. In fact, the U.S. is like solid and sober Germany, only better. The FT reports.
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The death of Laiki, also known as Cyprus Popular Bank, was brutal. Board members said they had fought to the bitter end.
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Buckingham Research analyst Daniel McKenzie found a silver lining in Delta's news, and raised his price target for Delta to $21 per share, from $19. He noted that Delta is cutting its flying capacity at its Tokyo hub because of the weak yen, and it is also cutting flying to Italy and Greece.
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The FMHR traders discuss today's top three trades, including Nasdaq OMX after the company said it is buying eSpeed, the trading platform for U.S. Treasuries from BGC Partners.
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NICOSIA, April 2- On the evening of the last Wednesday in March, the directors of Laiki bank, the second largest in Cyprus, gathered in their sixth floor board room for the last time. "Laiki Bank was a very good bank for many, many years," said Afxentis Afxentiou, a former governor of Cyprus' central bank.
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CNBC's Kelly Evans reports European stocks shrugged off weak economic data and marched higher in today's market action.
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The euro zone jobless rate was stable at 12.0 percent in February, the European Union statistics office Eurostat said on Tuesday, which could add pressure for an interest rate cut by the ECB.
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Manufacturing across the euro zone fell deeper into decline in March, although the Cyprus bailout crisis has yet to take a toll on factory activity, a business survey showed on Tuesday.
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BERLIN, April 1- Buoyed by solid finances, roaring exports and low unemployment, Germany increasingly sees itself as the only grown-up in Europe, responsible for bringing wayward children into line to hold the family together.
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Goldman Sachs lowers its price forecasts for corn, soy and wheat, with CNBC's Josh Lipton. Meanwhile Zack Shafran, Ivy Science & Technology Fund, discusses whether tech will turn around in Q2.
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*Slovenia does not need to go to bond market now. LJUBLJANA, March 29- Slovenia will not be the next euro member to need a financial rescue as it can afford to wait for lower borrowing costs before issuing new debt, its top economic official said on Friday.
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In the end it was hardly even a stroll, let alone the widely predicted run on the banks of Cyprus.
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NICOSIA, March 29- In the end it was hardly even a stroll, let alone the widely predicted run on the banks of Cyprus. Commentators had been confident that as soon as the banks reopened on Thursday at noon after Cyprus signed a rescue deal with the European Union to stave off national bankruptcy, there would be scenes of chaos.
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If the Bank of Japan meets expectations and embarks this week on a radical policy shift to crush deflation, the meeting will go down as historic.
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LONDON, March 31-' Historic' is an overused word. Because of gently falling prices, Japan has not grown in nominal terms for two decades, reducing its relevance for the global economy. "This is their best shot at reviving the economy," said Jerry Webman, chief economist at OppenheimerFunds in New York. "
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*Central Bank confirms tough terms in bailout. NICOSIA, March 30- Major depositors in Cyprus's biggest bank will lose around 60 percent of savings over 100,000 euros, its central bank confirmed on Saturday, sharpening the terms of a bailout that has shaken European banks and saved the island from bankruptcy.
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NICOSIA, March 30- Cyprus was expected to confirm on Saturday that major depositors in its biggest bank will lose around 60 percent of their savings over 100,000 euros, under a bailout that has shaken European banks but saved the island from bankruptcy for now.
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BERLIN, March 30- German Finance Minister Wolfgang Schaeuble has said savings accounts in the euro zone are safe, adding that Cyprus is a "special case" and not a template for future rescues.
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*Slovenia does not need to go to bond market now. LJUBLJANA, March 29- Slovenia will not be the next euro member to need a financial rescue as it can afford to wait for lower borrowing costs before issuing new debt, its top economic official said on Friday.
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NICOSIA, March 29- In the end it was hardly even a stroll, let alone the widely predicted run on the banks of Cyprus. Commentators had been confident that as soon as the banks reopened on Thursday at noon after Cyprus signed a rescue deal with the European Union to stave off national bankruptcy, there would be scenes of chaos.
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Cyprus may be a "special case" in the eyes of European officials, but their handling of its bailout is taking a toll on another small euro zone member with an over-burdened banking sector- Slovenia.