Swiss crude oil refiner Petroplus has temporarily halted operations at three of its five European refineries after the company’s banks refused to extend the $1 billion credit facility Petroplus uses to buy…
Zynga posts at the high end of its IPO range and will raise $1 billion. (Reuters) Congress reaches a tentative deal to keep the government open. (Reuters) Bill Gross’s PIMCO Total Return Fund…
Moody’s downgraded its long-term rating of Societe Generale to A1. Its ratings of Credit Agricole and BNP Paribas dropped to Aa3. If Moody’s had confidence in a solution to the eurozone debt crisis, it probably…
Douglas A. McIntyre Sarkozy and Merkel have gone from killers of the markets to saviors of the market, and oddly enough there is no full resolution yet to the Euro Zone debt crisis other than…
The action out of China’s virtual easing by lowering reserve requirements was already a boost to global markets, but the coordinated central bank efforts of the U.S., Canada, Europe, Switzerland, and the…
The details of the S&P bank sector downgrade were due to ratings criteria changes in the banking sector. 24/7 Wall St. has a detailed downgrade of the banking sector and the CreditWatch…
The Eurozone growth rate of 0.2% in the third quarter may have met expectations but this is just one more example that growth is so low already that getting out of the…
Well, it used to be Greece taking us down daily, but now it is the much larger concern of Italy. The markets were supposed to be cheering that Silvio Berlusconi was going to…
MF Global Holdings (NYSE: MF) became the first U.S. casualty of the European sovereign debt crisis, filing for Chapter 11 bankruptcy on Monday. Chairman and chief executive Jon Corzine has yet to acknowledge…
Greece and the rest of the PIIGS were hurting us for so long that it seems hard to believe that the Europeans are setting a 50% haircut for the Greek sovereign debt and…
Unilever (NYSE: UL) subsidiary Ben & Jerry’s has announced solidarity with “Occupy Wall Street,” even donating ice cream to hungry protestors at the movement’s makeshift headquarters’ in New York City’s Zuccotti Park.…
Obama to announce aid for student and home loans. Home loan proposals will include refinancing for underwater mortgages. (Reuters) EU leaders press Italy for more austerity measures. (Reuters) China’s October PMI is…
Several large banks, with Deutsche Bank (NYSE: DB) in the lead, are prepared to kill a bailout of Greece. Well-known DB chief Josef Ackermann says new plans to have banks take a…
Douglas A. McIntyre It feels like Groundhog day in Europe. Greece fears are escalating and European markets are sharply lower. The Europeans are just unwilling or are unable to deal with their woes in a…
European stocks are leading the markets this morning and the direction is lower. Greece projected that 2012 deficits will be above plan and the nation has effectively admitted that it will not…
