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Christine Lagarde

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  • Coeure: ECB will not bow to market pressure-paper Thursday, 11 Oct 2012 | 6:28 PM ET

    FRANKFURT, Oct 10- The European Central Bank will not cave in to market pressure and buy bonds of euro zone governments whose borrowing costs have reached unsustainable levels if the country does not comply to the ECB's rules, Executive Board member Benoit Coeure said.

  • TORONTO, Oct 11- Canada's main stock index rose slightly on Thursday, recovering from three days of losses that culminated in a five-week low, encouraged by U.S. employment data and comments from the IMF that were seen as supporting stability in the euro zone.

  • Market flatlines, pulled by jobless claims, Europe Thursday, 11 Oct 2012 | 4:30 PM ET

    The Dow Jones industrial average rose as much as 83 points, shrugging off a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. "There's not a lot to move the market today," said Erik Davidson, deputy chief investment officer of Wells Fargo Private Bank in San Francisco. "

  • *Greece's biggest company CCH quits for Switzerland. that it was switching its primary listing from Athens to London and moving its corporate base to stable, low-tax Switzerland is a bitter blow to the debt-crippled nation.

  • CANADA STOCKS-TSX rises on U.S. data, IMF chief's remarks Thursday, 11 Oct 2012 | 10:56 AM ET

    TORONTO, Oct 11- Canada's main stock index rose on Thursday after encouraging U.S. employment data and comments from the IMF that were seen were seen supporting stability in the euro zone. rose 1.7 percent to C $41.22, Canadian Natural Resources. 1 percent to C $30.09 and Teck Resources.

  • UPDATE 4-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 10:40 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating for the government's debt to near junk.

  • Greece's biggest firm leaves, jobless rate soars Thursday, 11 Oct 2012 | 10:39 AM ET

    *Greece's biggest company, bottler CCH, quits for Switzerland. ATHENS, Oct 11- Greece's jobless rate topped 25 percent and its biggest company said it would quit the country on Thursday in a fresh blow to an economy that German experts warned cannot be "saved" without writing off more debt.

  • Stocks head higher, despite Europe worries Thursday, 11 Oct 2012 | 10:04 AM ET

    NEW YORK-- One piece of good news on jobs was enough Thursday on Wall Street. That one piece of good news was enough to help traders forget about a drumbeat of worrisome developments, like a widening U.S. trade deficit, higher unemployment in Greece and a ratings cut for Spain. `.

  • BEIJING/ TOKYO, Oct 11- China's foreign minister on Thursday defended the withdrawal of its senior delegates from the International Monetary Fund meeting in Tokyo as "completely appropriate" although the head of the multilateral organisation said they would "lose out".

  • UPDATE 3-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 8:03 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.

  • Spanish bailout dilemma sharpens Thursday, 11 Oct 2012 | 7:45 AM ET

    Though S&P's warning may nudge the Spanish government to make a bailout request sooner rather than later, rival agency Moody's has indicated it may cut its rating for Spain in the event of a bailout request. "It would appear that when it comes to the rating Spain is a bit between a rock and a hard place," said Gary Jenkins, managing director of Swordfish Research.

  • UPDATE 2-Rating cut piles pressure on Spain to seek aid Thursday, 11 Oct 2012 | 6:10 AM ET

    *Spain banks' dependence on ECB continues. *Econ Sec says Spain still considering aid request. MADRID, Oct 11- Spain faced renewed pressure to take the politically humiliating step of seeking sovereign aid on Thursday after a credit agency cut its rating to near junk, triggering a spike in its borrowing costs.

  • Greek unemployment rises above 25 percent Thursday, 11 Oct 2012 | 5:33 AM ET

    ATHENS, Greece-- Unemployment in Greece hit a record high of 25.1 percent in July as the country's financial crisis continues to exact its heavy toll, official figures showed Thursday. All indications are that unemployment in Greece will continue to rise.

  • U.S. stock futures signal flat to higher Wall St open Thursday, 11 Oct 2012 | 4:25 AM ET

    LONDON, Oct 11-* U.S. stock index futures pointed to a flat to higher open on Wall Street on Thursday, with futures for the S&P 500 rising 0.2 percent, the Dow Jones trading flat and the Nasdaq 100 gaining 0.3 percent.

  • Geithner: US economy growing despite headwinds Thursday, 11 Oct 2012 | 3:22 AM ET

    Treasury Secretary Timothy Geithner said Thursday that financial reforms and other actions in response to the global crisis are yielding results, helping the U.S. economy to grow at a pace better than there was reason to expect.

  • Spanish bailout dilemma gets more acute Thursday, 11 Oct 2012 | 3:17 AM ET

    As well as citing the deepening economic recession in Spain and rising levels of social discontent, the agency said the government's hesitation in requesting help was "potentially raising the risks to Spain's rating."

  • GREECE - Factors to Watch on October 11 Thursday, 11 Oct 2012 | 3:11 AM ET

    IMF SAYS GREECE, SPAIN SHOULD BE GIVEN MORE TIME TO CUT DEFICITS. International Monetary Fund Managing Director Christine Lagarde on Thursday said struggling European countries such as Greece and Spain should be given more time to reduce their budget gaps. Swiss retailer Dufry is to buy the duty-free operations of Greek rival Folli Follie.

  • WRAPUP 2-IMF calls for action as euro zone crisis festers Wednesday, 10 Oct 2012 | 10:45 PM ET

    *S&P downgrades Spain; Brazil and South Korea cut rates. TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.

  • IMF chief urges action in tackling euro crisis Wednesday, 10 Oct 2012 | 10:11 PM ET

    TOKYO-- The head of the International Monetary Fund on Thursday called for urgent action to tackle Europe's debt problems and an approaching fiscal crisis in the U.S., warning that the struggling world economy is already falling short of even pessimistic expectations.

  • WRAPUP 1-IMF calls for action as euro zone crisis festers Wednesday, 10 Oct 2012 | 9:08 PM ET

    TOKYO, Oct 11- The IMF prodded the world's rich countries for swifter action on Thursday as Europe's debt crisis drags on while the United States and Japan show scant progress handling their budget deficits.