An extended bank holiday in the European Union to halt a steep market fall, a third party candidate winning the race for the White House, and 50 European banks being nationalized are just a few of Saxo Bank's "outrageous predictions" for 2012.
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.
As the European debt crisis threatens to engulf even France along with Italy and Spain, Bernard Connolly's longstanding proposition that a common currency for the region would end in ruin is getting a wider hearing.
Weakness in the Japanese yen is ahead for the long-term, as a 40-year long-term cycle which has seen the yen's exchange rate appreciating against the dollar is about to see a major reversal, Ron William, a technical strategist at MIG Bank, told CNBC.com.
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.
The European debt crisis is worrisome but it is unlikely to pose a danger to major banks on the continent, Michael H. Tomalin, CEO of the National Bank of Abu Dhabi, told CNBC.
In the computerized world of markets, it’s not every second that counts – it’s every micro second.
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
Living it up in Switzerland has become even more pricey, a new report shows, despite falls in prices for imported goods such as cigars and champagne which have become more affordable thanks to the rise in the Swiss franc.
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.
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.
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, the New York Times reports.
European leaders headed home from a weekend of meetings in Washington vowing bolder steps to address widening anxiety about the Continent’s debt burden. But it will most likely be weeks or even months before any new action comes to pass. The NYT reports.
No time wasted. Only an hour after Sergio Ermotti was appointed interim CEO of UBS following Oswald Gruebel's decision to resign, the Swiss Italian banker, alongside Chairman Kaspar Villiger, addressed the media in a hastily arranged conference call.
Great new ideas are only the first link in a chain that includes government and corporate allies in an economy that supports risk.
With all the action on the Continent, the British pound has been out of the spotlight. It's time for a look — and you might not like it.