Slovak lawmakers agreed Wednesday to reverse their vote against expanding a bailout fund for Europe’s financially troubled countries. Leaders of Slovakia’s four main political parties reached accord a day after the nation’s Parliament rejected a bid calling for the impoverished central European nation to guarantee $10 billion of the expanded $596 billion fund. The Tuesday […]
Slovak Lawmakers Agree to Expand Eurozone’s Bailout Fund
Posted October 12th, 2011 at 11:10 am (UTC-5)
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US Stocks Mixed in Midday Trading Tuesday
Posted October 11th, 2011 at 12:50 pm (UTC-5)
Prices on major U.S. stock indexes were mixed in midday trading Tuesday. The Dow Jones Industrial Average is down slightly from Monday’s close, while the S&P 500 index is up a tenth of a percentage point. The NASDAQ composite index is ahead six-tenths of one percent. European stocks closed mixed. The Financial Times index in […]
Slovakia Set to Reject Expanded Eurozone Bailout Fund
Posted October 11th, 2011 at 10:15 am (UTC-5)
Slovakia appears set Tuesday to reject an expanded European bailout fund and topple the government of Prime Minister Iveta Radicova, although a new parliamentary coalition could approve the bigger aid plan in the coming days. Sixteen of the 17 nations that use the euro currency have already approved the $596 billion bailout fund. But in […]
Belgium Buys Subsidiary of Financially Troubled Dexia Bank
Posted October 10th, 2011 at 1:40 pm (UTC-5)
Belgium decided Monday to buy a subsidiary of the financially troubled Dexia bank, the first victim of new European worries about the spread of Greece’s debt crisis. The Belgian government said it is paying $5.4 billion to buy the national subsidiary of Dexia. The French, Luxembourg and Belgian governments said they would provide an additional […]
US Stocks Advance in Early Monday Trading
Posted October 10th, 2011 at 12:55 pm (UTC-5)
U.S. and European stock indexes advanced sharply in Monday trading. The Dow Jones Industrial Average is up 2.5 percent, while the S&P 500 index is ahead 2.9 percent. The NASDAQ is up more than 3 percent. European stock markets closed higher. London’s Financial Times 100 index ended up 1.8 percent to finish at 5,399. The […]
US Stocks Advance in Early Monday Trading
Posted October 10th, 2011 at 10:15 am (UTC-5)
U.S. stock indexes moved up in early trading Monday. The Dow Jones Industrial Average, the S&P 500 index and the NASDAQ are all ahead by more than 2 percent. European stock markets also advanced in afternoon trading. London’s Financial Times 100 index and the CAC-40 in Paris are both ahead by more than 1.2 percent. […]
Spain, Italy Credit Ratings Are Downgraded
Posted October 7th, 2011 at 2:30 pm (UTC-5)
The credit ratings of Italy and Spain, with Europe’s third and fourth largest economies, have been cut, mostly on fears that the continent’s debt crisis could cause new financial problems for the two countries. Fitch Ratings said Friday it has cut Italy’s credit standing one notch , with a negative outlook, meaning it could be […]
Eurozone Leader Says Greece Likely to Get New Aid
Posted October 6th, 2011 at 2:40 pm (UTC-5)
The chief financial official of the eurozone nations says he thinks Greece’s international creditors will soon approve its bid for another round of financial aid to help it avoid a default on its debts. Luxembourg Prime Minister Jean-Claude Juncker said Thursday he expects auditors from the International Monetary Fund, the European Central Bank and the […]
World Stock Indexes Move Higher
Posted October 6th, 2011 at 1:15 pm (UTC-5)
World stock markets recorded sharp gains on Thursday. In the U.S., the Dow Jones Industrial Average is up eight-tenths of a percent in midday trading. The S&P 500 is ahead one percent, while the NASDAQ is up 1.2 percent. European stocks closed markedly higher. London’s Financial Times index ended up 3.7 percent to close at […]
Europe Leaves Its Key Interest Rate Unchanged
Posted October 6th, 2011 at 12:45 pm (UTC-5)
Europe’s central bank has decided to leave its benchmark interest rate unchanged, even as the continent’s economy weakens. But its British counterpart has decided to pump more money into the economy in an effort to stave off a new recession. The European Central Bank said Thursday it considered lowering its key lending rate of 1.5 […]
