Companies are bracing for the Greeks to exit the Euro
Get ready to rock and roll on June 18th when Greece exits the Euro. Companies doing business in Greece are drawing up a exit preparations checklist: 1) Buy shutters to shutter up stores in case of riots 2) Change ability to accept Drachmas in business transactions 3) Pull cash out of Greece 4) Lower stock and inventory levels 5) Demand cash on More...
Chinese economy slowing faster than predicted
Data for April shows sharper than expected declines in investment and industrial production. China’s economy is slowing down further, national figures suggest, with data for April showing sharper than expected More...
More Bankers Resign – 84 since November 2011
It looks like bankers are heading for the hills…. Some are leaving amidst investigations and scandals… some are retiring or leaving after many years in baking ….. some starting their own businesses… More...
S&P downgrades 9 more Euro countries’ credit rating – Germany stands alone with AAA rating
The eurozone economy has been plunged back into crisis after the credit worthiness of nine nations were downgraded by a leading ratings agency. That’s the headline on Sky. Debt crisis: Eurozone back on the More...
Gordon Brown: France risks becoming the next victim of the sovereign-debt crisis “in the coming weeks”
Mr Brown’s prediction came as the difference between French borrowing costs and those of Germany hit record levels. EU leaders urged France to draw up further austerity measures to meet its deficit reduction More...
Russia dumping US Treasury bills, Israel selling as well
Foreign ownership of U.S. government debt declined in July for the second straight month, according to Treasury Department data released Friday. Photo/Mikhail Metzel Overall, foreign holdings of U.S. debt dropped More...
Wikileaks: China is buying gold to weaken the US dollar’s role as reserve currency
Photo/gulfofmexicooilspillblog China is shifting some of its massive foreign holdings into gold and away from the US dollar, undermining the dollar’s role as the world’s reserve currency, accoding More...
What will Greece do: default on it’s debt or leave the Eurozone?
Photo/the-web-tycoon London (CNN) – Endless political rhetoric and billions in bailouts have left Greece no closer to solving the dangerous dilemma it is facing today. Should the country give up trying to pay More...
Italy turning to China for help with financial crisis
FT NEWS reports: Italy’s centre-right government is turning to cash-rich China in the hope that Beijing will help rescue it from financial crisis by making “significant” purchases of Italian bonds and investments More...
Dow plummets 500+ points
Rolling coverage of the roller coaster in financial markets as the eurozone and US come under increasing pressure to deal with high levels of debt and stave off another recession. So, on Barack Obama’s 50th More...
