The European Central Bank is lending a record amount of money to banks in the 17 nations that use the euro in hopes of limiting the widespread effects of the governmental debt crisis. The central bank said Wednesday it would make $638 billion in three-year loans to 523 banks in an effort to encourage them […]
European Central Bank Makes Massive Loans to 523 Banks
Posted December 21st, 2011 at 1:15 pm (UTC-5)
Leave a comment
European Central Bank Makes Massive Loans to 523 Banks
Posted December 21st, 2011 at 11:40 am (UTC-5)
The European Central Bank is lending a record amount of money to banks in the 17 nations that use the euro in hopes of limiting the widespread effects of the governmental debt crisis. The central bank said Wednesday it would make $638 billion in three-year loans to 523 banks in an effort to encourage them […]
Greece Says It Is Close to Deal to Cut Its Debt
Posted December 20th, 2011 at 2:20 pm (UTC-5)
Greece says it is close to a deal with its private creditors that would slash $130 billion of its debt to help it secure a new bailout and avoid defaulting on its loans. Greek Finance Minister Evangelos Venizelos said Tuesday he has personal knowledge of the negotiations, and believes his country is nearing an agreement […]
US Housing Construction Reaches 19-month High
Posted December 20th, 2011 at 10:55 am (UTC-5)
The U.S. government says that housing construction advanced in November to a 19-month high, but the number of homes being built was still sharply lower than what economists consider a healthy pace. The Commerce Department said Tuesday that housing starts increased more than 9 percent from October to an annual rate of 685,000 units. That […]
Eurozone Finance Chiefs Fail to Meet Bailout Fund Goal
Posted December 19th, 2011 at 4:30 pm (UTC-5)
European finance ministers have failed to raise $261 billion to help contain the continent’s governmental debt crisis. Finance chiefs from the 17 nations that use the euro agreed Monday to raise $195 billion from eurozone central banks to help the International Monetary Fund boost its European assistance. But in a conference call, the finance ministers […]
Asian Stocks Fall After North Korea’s Leader Dies
Posted December 19th, 2011 at 11:30 am (UTC-5)
The death of North Korea’s leader, Kim Jong-il, is having a limited impact on global stocks and other economic activities on Monday. The Fitch Rating agency said it is watching the situation closely, but does not see a need to cut neighboring South Korea’s credit rating at this time. Many major Asian stock markets declined […]
Eurozone Finance Chiefs Seeking Bailout Funds for IMF
Posted December 19th, 2011 at 11:30 am (UTC-5)
European finance ministers are trying to raise more money to fight the continent’s governmental debt crisis. The finance chiefs from the 17 nations that use the euro are meeting Monday via a conference call to try to collect $261 billion in additional funding for the International Monetary Fund to boost its rescue fund. It is […]
US Jobless Claims Drop to Three Year Low
Posted December 15th, 2011 at 10:50 am (UTC-5)
The number of Americans applying for new unemployment benefits has hit a three-and-a-half year low, raising hopes the U.S. labor market is improving. The Labor Department Thursday said first time claims fell by 19,000 to 366,000 last week, dropping to a level not seen since May 2008. The four-week moving average – a less volatile […]
Germany’s Merkel: No Simple and Fast Solutions for Euro
Posted December 14th, 2011 at 1:05 pm (UTC-5)
German Chancellor Angela Merkel says there are no easy or fast solutions to Europe’s economic crisis, but the agreement by eurozone countries last week for more fiscal discipline was a good step. Ms. Merkel’s comments at the German parliament came as financial markets indicated continued unease over the Europe debt crisis, driving the value of […]
Fed: US Economy Grows “Moderately”
Posted December 13th, 2011 at 4:10 pm (UTC-5)
Officials of the U.S. central bank say the economy has grown “moderately,” and they kept the key interest rate steady at ultra-low levels, a range of zero to 0.25 percent, where it has been for about three years. Tuesday’s report from the Federal Reserve also said global growth is slowing, prehaps a reference to Europe’s […]
