Walking through his high-ceilinged factory here, explaining the production of sheets of copper, M. Brian O’Shaughnessy comes across as a staunch advocate of manufacturing in America.
German lawmakers likely will delay a vote on the euro zone's fiscal compact on budget discipline because the country's main opposition party wants to insert growth-focused measures into the pact, a coalition source told CNBC.
Just weeks ago, the idea that Greece would leave the euro zone was almost unthinkable. Now, with Greece’s newly empowered political parties refusing to abide by the terms of the country’s international loan agreement and Europe’s leaders talking tough, that outcome is looking increasingly likely. The NYT reports.
Directors often dole out personal safety perks to ease a chief executive’s tax bill. By classifying the benefits as security measures, the executives typically get a better tax treatment on the services. It’s a common corporate tax trick. The New York Times reports.
Credit rating agencies are sparring in public over new ratings as they seek to enhance reputations damaged during the financial crisis. The Financial Times reports.
When Lehman Brothers collapsed at the height of the financial crisis, JPMorgan Chase was at the center of the storm. The bank was a major lender to the firm, which filed the biggest bankruptcy in United States history. The NYT reports.
Mitt Romney sought to use the coveted endorsement of Jeb Bush on Wednesday to amplify his call for Republicans to rally behind his candidacy and get on with the mission of ousting President Obama. The NYT reports.
Banks will face stiff penalties and intense public scrutiny if they fail to live up to the standards of a $25 billion mortgage settlement with state and federal authorities, according to court documents filed as part of the deal Monday in federal court in Washington. The NYT reports.
A lead adviser to Greece on its debt deal, Mitu Gulati, argues that instead of repeated austerity-based bailouts, other European countries should cut a deal directly with their creditors to reduce their debt loads.
Unlike Greece, Portugal is a debtor nation that has done everything that the European Union and the International Monetary Fund have asked it to, in exchange for the 78 billion euro (about $103 billion) bailout Lisbon received last May. The NYT reports.
The European Central Bank's rescue of the region's banks by showering them with cheap loans could be creating the conditions for another financial crisis several years from now. The New York Times reports.
Greece has found itself in a category of its own among struggling debtors — a nation Europe no longer trusts, The New York Times reports.
For all the struggles that Greece has gone through to satisfy its demanding lenders, Europe’s troubles are not going away, the New York Times reports.
Another batch of the riskiest mortgage-backed securities once owned by the American International Group are being auctioned off this week, according to two people familiar with the matter, a sale that would bring the insurance giant’s 2008 meltdown once step closer to a resolution.
Investors are predicting that Portugal will be next in line after Greece to impose losses on bondholders as it struggles to meet the terms of a $103 billion bailout agreement struck with international creditors last May. The New York Times reports.
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.
As difficult as the last two years have been for Europe, 2012 could be even tougher. Each week, countries will need to sell billions of dollars of bonds — a staggering $1 trillion in total — to replace existing debt and cover their current budget deficits, the New York Times reports.
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.
The governor of France’s central bank has said Britain is more deserving of losing its top-notch credit rating than France as Paris braces itself for a potential downgrade of the country’s triple A status.