Narayana Kocherlakota of the Minneapolis Fed says the FOMC still has not lowered the "real" interest rate sufficiently, reports CNBC's Steve Liesman.» Read More
Greg Bundy, Vice Chairman / Senior Adviser, AIMS Finance is more woried of a European recession then defaults and believes that the crisis is delaying US recovery. Nevertheless, he likes US equity markets on the back of strong earnings and balance sheets.
Hedge funds have been known to use hardball tactics to make money. Now they have come up with a new one: suing Greece in a human rights court to make good on its bond payments.
As Europe’s debt turmoil enters its third year, no clear solutions are yet in sight — despite recent signs that a new lending program by the European Central Bank might be easing pressures.
Stung by souring loans and troubled government bond portfolios, many European banks are being forced by regulators to raise money to build up their cash cushions against future losses.
Hold the condolence cards, but the recession cost the rich. The share of income received by the top 1 percent — that potent symbol of inequality — dropped to 17 percent in 2009 from 23 percent in 2007, according to federal tax data. The New York Times reports.
In the fiscal accord, the nations that use the euro essentially agreed to go back to Plan A — that is, the principles and rules with which they created their common currency two decades ago.
A move announced by central bankers on Wednesday to contain the European debt crisis resulted in euphoria in global stock markets, but it also prompted skeptics to wonder: will this time be different? The New York Times reports.
In a stern pronouncement, Moody’s Investors Service this week warned of rising prospects for multiple defaults by countries in the euro zone and credit rating downgrades of nations across Europe if leaders should fail to resolve the spreading debt crisis. The NYT reports.
About $200 million in customer money that vanished from MF Global is believed to have surfaced at JPMorgan Chase in Britain, according to people briefed on the matter. The New York Times reports.
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.
Europe’s banking sector is ready for a shake-up as its largest financial institutions try to slim down their operations in response to the sovereign debt crisis. The NY Times repeorts.
Wall Street bonuses are set to fall by an average of 20 to 30 percent this year from a year ago, according to a closely watched compensation survey—the weakest bonus season since the financial crisis and a reflection of the leaner times confronting the industry NYT reports.
When Jon S. Corzine joined MF Global last year it seemed like a strange choice — the firm had none of the glamour, let alone the profits or footprint of Goldman Sachs, the bank he ran during the 1990s.
The guns in Libya have barely quieted, and NATO’s military assistance to the rebellion that toppled Col.Muammar el-Qaddafi will not end officially until Monday.But a new invasion force is already plotting its own landing on the shores of Tripoli. The New York Times reports.
Though financial institutions are not yet turning away customers at the door, they are trying to discourage some depositors from parking cash with them. NYT reports
Regulators in the United States and overseas are cracking down on computerized high-speed trading that crowds today’s stock exchanges, worried that as it spreads around the globe it is making market swings worse. The New York Times reports.
The prospect of guaranteeing the debt of richer but more spendthrift countries like Greece, Portugal and even Italy has led to public outrage in tiny Slovakia, the second-poorest country in the euro zone where the average worker earns just over $1,000 a month. Now it is threatening to derail a collective European bailout . The New York Times reports.
Like Americans trying to raise quick cash by unloading their unwanted goods, the federal government is considering a novel way to reduce the deficit: holding the equivalent of a garage sale, reports the NY Times.
LONDON—Greece may never be able to pay off its huge debts, but its bonds, long scorned by investors, are suddenly being gobbled up by hedge funds. After a number of investors struck gold by betting against French banks, many have turned their attention to the hot yet risky euro zone trade of the moment: buying Greek government bonds that traders say are changing hands for as little as 36 cents for each euro of face value.
Two men who worked on the hit movie “Black Swan” have mounted an unusual challenge to the film industry’s widely accepted practice of unpaid internships by filing a lawsuit on Wednesday asserting that the production company had violated minimum wage and overtime laws by hiring dozens of such interns. The NYT reports.