A major financial services agency says ongoing worries over the eurozone crisis and a recent increase in negative credit outlooks continue to hamper the global economic recovery. The New York-based financial ratings agency Fitch Ratings said in a report Tuesday that negative credit outlooks roughly doubled in the last six months in the sovereign, international […]
Fitch: Negative Credit Outlooks Rise as Eurozone Crisis Drags on Global Growth
Posted July 24th, 2012 at 7:00 am (UTC-5)
Leave a comment
World Stock Markets Plunge on Spain Debt Fears
Posted July 23rd, 2012 at 6:15 pm (UTC-5)
World stock markets are plunging on new fears that Spain could need an international bailout. Spain’s borrowing costs topped 7.5 percent, and stock indexes in Asia, Europe and New York all fell sharply. Some exchanges were down 2 percent or more. Europe already has agreed to grant Spain a rescue packet of up to $122 […]
World Stock Markets Plunge on Spain Debt Fears
Posted July 23rd, 2012 at 1:25 pm (UTC-5)
World stock markets are plunging on new fears that Spain could need an international bailout. Spanish economic minister Luis de Guindos denied Monday that Madrid would need assistance from its neighbors in the 17-nation euro currency zone. But Spain’s borrowing costs soared, and stock indexes in Asia, Europe and New York all fell sharply, with […]
World Stock Markets Plunge on Spain Debt Fears
Posted July 23rd, 2012 at 10:45 am (UTC-5)
World stock markets are plunging on new fears that Spain could need an international bailout. Spanish economic minister Luis de Guindos ruled out the possibility Monday that Madrid would need assistance from its neighbors in the 17-nation euro currency zone. But Spain’s borrowing costs soared, and stock indexes in Asia, Europe and New York all […]
Spain: No Bailout Needed, but Borrowing Costs Soar
Posted July 23rd, 2012 at 9:40 am (UTC-5)
The debt-ridden Spanish government is denying it will need an international bailout, but its borrowing costs are soaring. Spanish economic minister Luis de Guindos ruled out the possibility Monday that Madrid would need assistance from its neighbors in the 17-nation euro currency zone. But the interest rate on Spain’s government bonds pushed close to 7.5 […]
Greek PM: Country’s Plight Like US Great Depression
Posted July 22nd, 2012 at 2:30 pm (UTC-5)
Greek Prime Minister Antonis Samaras says his country is facing economic upheaval like that of the devastating U.S. Great Depression of the 1930s. Mr. Samaras made the comparison Sunday as he met with former U.S. President Bill Clinton, who was in the Greek capital to help promote economic investment. Mr. Samaras is faced with trying […]
Germany Approves Spanish Bank Bailout
Posted July 19th, 2012 at 3:20 pm (UTC-5)
The German parliament has approved the eurozone’s $122 billion bailout for the struggling Spanish banking system. Lawmakers in Germany, the currency union’s most robust economic power, have grown increasingly wary of approving more assistance for debt-ridden countries in the 17-nation eurozone. But they voted overwhelmingly for the bank rescue package Thursday after Finance Minister Wolfgang […]
US Economic Signals Point Down
Posted July 19th, 2012 at 10:55 am (UTC-5)
There are new signs that the already-sluggish American economy is losing strength. The government said Thursday that the number of unemployed workers making first-time claims for financial benefits jumped last week, up 34,000 to 386,000. Economists say the closely watched figure has to consistently fall below 375,000 to push the country’s high 8.2 percent jobless […]
IMF: Eurozone Crisis at ‘Critical Stage’
Posted July 18th, 2012 at 11:15 am (UTC-5)
The International Monetary Fund says the eurozone’s debt crisis has reached a “critical stage,” and that European leaders need to move quickly toward greater financial unity. The IMF’s executive board said Wednesday that the 17-nation currency union needs to adopt a cross-border banking union, guaranteeing deposits and imposing central financial controls. The Washington-based lending agency […]
Bernanke: Reducing Unemployment Frustratingly Slow
Posted July 17th, 2012 at 11:25 am (UTC-5)
U.S. Federal Reserve Chairman Ben Bernanke says the U.S. economic recovery has slowed and it will take a “frustratingly” long time to cut the unemployment rate. The head of the U.S. central bank spoke at a congressional hearing after reports showed inflation to be relatively mild, while job growth and retail sales were disappointing. Bernanke […]
