Can Splurging Chinese Firms Save Europe?
With the euro zone economy in crisis mode, Chinese companies have decided the time has come for a shopping spree in one of the most attractive supermarkets: debt-ridden Europe. Chinese direct investment into Europe tripled from 2006 to 2009 before tripling again last year to $10 billion, according to a Rhodium Group study published Thursday. "We need the money," European Union Trade Chief Karel De Gucht said in a speech Thursday in Brussels
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Facebook Falls Again: 3 Week Loss Is $48 Billion
Shares of Facebook (Nasdaq: FB), the No. 1 social networking site, fell nearly 2 percent on Thursday, exactly three weeks after the company took in $16 billion in its initial public offering. Facebook shares closed down 50 cents at $26.31, only slightly above their daily low of $26.15
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Fitch Cuts Spain’s Credit Rating; Euro Falls
Fitch Ratings on Friday downgraded Spain's long-term sovereign credit rating from A to BBB, just one notch from junk grade because of the increasing estimated cost of fixing the country's banking system from 3 percent of GDP to as much as 9 percent, or €100 billion ($126 billion).
Categories: News in finance, Personal Finance Tags: banks-primed, china, interest rates, rate, recommended, surprise, thursday, var-order