Portugal's caretaker government said on Wednesday it had decided to seek financing from the European Union in an abrupt turnaround after resisting a bailout for months despite sharply deteriorating financial conditions.
Portugal's caretaker government said on Wednesday it needs financing from the European Union, marking a turnaround after resisting asking for aid for months despite sharply deteriorating financial conditions.
Portugal's caretaker government, fighting to avoid a bailout, said on Wednesday a political crisis had caused irreparable damage after borrowing costs rocketed as it sold a billion euros in short-term debt.
Debt-stricken Portugal managed to sell a billion euros in short-term debt on Wednesday but the yields rose sharply, intensifying pressure from local lenders and ratings agencies to seek a bailout.
The price of Gold reached new record highs vs. the Dollar on Wednesday in London, breaching $1460 per ounce as world stock markets also kept rising together with commodities and higher-yielding currencies.
FOMC Meeting Minutes March 2011
Credit rating agency Moody's cut Portugal's sovereign debt by one notch on Tuesday, saying it believed an incoming government would need to seek financing support from the European Union as a matter of urgency.
U.S. stock index futures fell on Tuesday after China, a main source of global growth, raised its interest rates, while Apple shares fell after the stock's weight in a widely followed index was cut.
U.S. stocks ended mixed on Monday as gains from materials and health care sector shares were offset by declines from technology and financials.
Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.3 percent, Dow Jones futures down 0.1 percent and Nasdaq 100 futures down 0.8 percent at 3:52 a.m. EDT.
Stock index futures pointed to a lower open on Wall Street on Tuesday, with futures for the S&P 500 down 0.3 percent, Dow Jones futures down 0.1 percent and Nasdaq 100 futures down 0.8 percent at 3:52 a.m. EDT.
A nascent recovery in global dealmaking, focused on safer deals with clear strategic logic, probably marks the start of several years of rising mergers and acquisitions, senior bankers told the Reuters Global M&A Summit.
The International Monetary Fund on Saturday denied a report in German magazine Der Spiegel that it was privately pressing Greece to restructure its debt.
The International Monetary Fund is privately pushing Greece to restructure its debt soon, a German magazine said Saturday, but the Greek government and the European Commission insisted a restructuring would not be discussed.
European authorities and the International Monetary Fund believe Ireland and Greece can sustain their debts while it is up to Portugal whether it joins them in seeking help, the head of Europe's rescue fund said. Fears Ireland will not be able to shoulder the burden of one of the world's most costliest bank bailouts have overshadowed the government's pledge to recapitalize its financial system ...
The European Financial Stability Facility rescue fund is ready to help Portugal if needed, Klaus Regling, the fund's president told La Tribune in an interview published online on Saturday.
Credit rating agency Fitch downgraded Portugal on Friday saying the debt-laden country needed a bailout, while rival agency S&P cut Ireland's rating after bank stress tests revealed another black hole.
Standard & Poor's cut Ireland's debt rating by just one notch and gave the thumbs-up to its bank bill on Friday but rival Fitch's warning of another downgrade and a big drop in growth expectations spelled trouble ahead.
Removes reference to ECB adding margin to Irish debt after ECB says that will not be the case due to fourth rating agency DBRS still rating Ireland at A
Standard & Poor's Ratings Services said that it has downgraded its sovereign credit ratings on the Republic of Ireland to 'BBB+/A-2'.
Standard & Poor's stripped Ireland of its last 'A' rating on Friday, citing future risks to bondholders, but the one notch cut was less severe than feared and gave the thumbs up to the state's bank bill.
Witticisms, super pranks, ultimate gags, hoaxes and plain lies are searching for fools this day. People turn the most cynical this day so that they don’t look naive, and turn on their gullibility meter at the highest level of alert. But a lot of us are caught off guard by some comic concoctions that mix contemporary humor with ingenious lies which are sometimes delectable.
