The interest rate the European Central Bank pays banks parking their money with it is zero.
If there is progress on fiscal problems, US outlook positive - video
Eurozone finance ministers decided on Saturday to lend Spain up to €100bn ($125bn, £80bn) to save its troubled banking sector. The aid is expected to cover all capital requirements Spain's banking sector needed. "The loan amount must cover estimated capital requirements with an additional safety margin, estimated as summing up to 100 billion euros in total," said the Eurogroup statement
China 's inflation cooled in May, giving Beijing more wiggle room to loosen policy and stimulate growth. The world's second-largest economy reported its consumer price index rose 3 percent in May from a year earlier -- the slowest pace in two years
China 's inflation cooled in May, giving Beijing more wiggle room to loosen policy and stimulate growth. The world's second-largest economy reported its consumer price index rose 3 percent in May from a year earlier -- the slowest pace in two years. That was down from April's 3.4 percent increase and lower than economists' forecast of a 3.2 percent rise.
Categories: Business financial, News in finance, Personal Finance Tags: banks, banks-primed, close-italian, euro, financial crisis, george-soros, important, recommended, soros-speech-illustrated, var-cat
Lower U.S. demand for crude oil and petroleum products in April helped shrink the nation's balance-of-trade deficit from the previous month, the Commerce Department said Friday.
Categories: Business financial, News in finance Tags: banks, banks-primed, close-italian, euro, financial, financial crisis, george-soros, important, recommended, soros-speech-illustrated, speech, var-order
After George Soros , the influential hedge fund manager, posted a speech he gave at an economics conference in Italy last week, the financial blogosphere and the mainstream media, including the New York Times and the Washington Post lit up -- mostly with praise. Joe Weisenthal, Business Insider's blogger, called it "brilliant," "dynamo" and "killer." On Twitter , Tony Fratto, a CNBC contributor and former treasury secretary, wrote that he'd "never had anything recommended to him more frequently." The speech begins with a wonky description of the state of modern economics and then dives deeply into an intriguing analysis of the European financial crisis -- and warns that there are only a few months left to resolve it or the debacle will bring down global economies with it. His assessment is novel: He sees the crisis as a political "bubble" that began to emerge with the very first steps of European unification; the road to this crisis, Soros says, was paved with the best of geopolitical intentions.
http://www.FT.com/ In the first part of a series looking at the internationalisation of the renminbi, the FT's Robert Cookson examines what has occurred so far and talks to experts about what needs to happen for China's currency to become a global unit such as the dollar or the euro. For more video content from the FT, visit the Financial Times video page at: http://www.ft.com/video
Because they report quarterly results out of the regular cycle, technology giants Cisco Systems (Nasdaq: CSCO), Hewlett-Packard Co.