AP – European markets bounced back Thursday as the traditional holiday slowdown began in earnest, rising a day after investors were rattled by the European Central Bank’s huge loans to bolster the continent’s banks.
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Reuters – European stocks and the euro firmed on Wednesday, enjoying a brief surge after banks borrowed around $489 billion euros from the European Central Bank at its first-ever offer of three-year loans on hopes it will be a significant step toward easing the region’s two-year old debt crisis.
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Read More »Reuters – European stocks rallied and the euro was well bid Wednesday as investors priced in an improvement in the economic outlook and looked forward to a big take up by banks of the European Central Bank’s first-ever offer of three-year loans.
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Read More »AP – NOW, SPAIN: An auction of 10-year Spanish government bonds left the country paying interest rates of nearly 7 percent, a level economists consider unsustainable. Greece and Ireland received rescue loans from the European Union after their rates jumped above the same mark.
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AP – Stocks took a battering Monday after Greece admitted it won’t meet its deficit reduction targets, raising renewed fears that the country will not get crucial bailout loans it needs to avoid a default on its debts.
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AP – The euphoria that gripped markets after Greece passed cost-cutting measures to secure more bailout loans wore off Friday as investors focused on another batch of economic figures underlining the slowing global economic recovery.
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Read More »AP – EUROPE’S DEBTS: European finance ministers approved $110 billion in rescue loans to Portugal on Monday, but have yet to decide on a second rescue package for Greece. The arrest of the head of the IMF is expected to make solving Greece’s problems more difficult.
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Read More »Reuters – Daniel Mudd, the former CEO of government-sponsored mortgage firm Fannie Mae, has received notice from U.S. regulators that he may face claims for allegedly misleading investors about the mortgage company’s exposure to subprime loans, Bloomberg said.
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