Oil major BP Plc said the oil spill in the Gulf of Mexico had cost it $350 million so far, suggesting the final bill could be much higher than many analysts predicted and sending its shares to a six-month low.
Goldman Sachs Group Inc, facing fraud charges from U.S. securities regulators, on Monday warned that more litigation and investigations could be coming.
The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health.
The Bank of England kept interest rates at 0.5 percent and made no change to its asset purchase target on Monday, keeping in place stimulus measures designed to nurse the economy back to health. The decision was predicted by all 63 economists polled by Reuters, most of whom do not expect interest rates to rise until the fourth quarter of the year at the earliest.
European central banks began buying euro zone government bonds under a $1 trillion global emergency rescue package agreed on Monday, sending the euro and European stocks and bonds surging on relieved markets.
The U.S. Federal Reserve reopened currency swap facilities with other major central banks on Sunday to help ease market strains in Europe.
The euro rebounded from 14-month lows and Asian stocks jumped on Monday after the European Union and IMF carved out an emergency rescue package of up to 750 billion euros ($1 trillion) to keep Greece's debt crisis from spreading through the euro zone.
The euro rallied from last week's 14-month low against the dollar on Monday after European Union leaders agreed on an emergency loan package to prevent Greek's debt crisis from spreading through the region. The package, which with IMF support may reach 750 billion euros, along with measures by central banks to address funding strains and a European Central Bank plan to buy the region's government bonds, calmed nerves after contagion fears triggered a global rout in equities and other risky asset...
The volatility in financial markets continued on Friday's trade but thankfully not to the same extent as seen the previously.
European Union finance ministers on Sunday promised to counter the wolfpack of the financial markets as they sought agreement on a 600 billion euro ($805 billion) plan to keep Greece's debt crisis from spreading.
Disappointing Retail Sales data saw the AUD move lower in Asia yesterday falling from 0.9090 to enter offshore exchange hovering on the precipice of the psychological 90 cent level
European Union finance ministers promised to counter the wolfpack of the financial markets and defend the euro before talks on Sunday on ring-fencing Greece's debt crisis to stop it spreading.
European Union finance ministers called for strong action to ensure stability before they met on Sunday to discuss ways of ring-fencing Greece's debt crisis to stop it spreading to countries like Portugal and Spain.
It seems gold is heading for a perfect future as almost all incidents unraveling across the world in April and May months are helping the yellow metal gain. If you take into consideration the recent developments like the Greece debt crisis, Spain and Portugal economic woes, the Euro situation, China's decision to control the realty sector and the May 7 verdict by India's Supreme Court in the Ambani gas row case, all of this have contributed to the further push of gold in global and India markets...
The Group of Seven rich countries is concerned about Greece's debt problems, a Canadian official said on Friday, and hinted that there may be other countries that will also need help.
A British tax on bank executives' bonuses will cost two of the biggest U.S. banks a combined $1 billion.
Apple Inc said on Friday it will launch the iPad tablet computer in nine international markets on May 28, following a strong debut in the United States last month.
General Motors' European arm Opel expects to get by the end of May a final response from the German government to its request for aid, initially amounting to 1.5 billion euros ($2 billion).
Royal Bank of Scotland beat expectations with a return to profit in the first quarter as bad debts continued to shrink, even as investment banking earnings more than halved from its strong start to last year.
Stocks worldwide plunged as concerns about Greece's debt crisis went global, with investors seeing it as an omen of turmoil in other European economies and governments struggling to calm markets.
World stocks extended sharp falls on Friday while government bonds rose as a global rout triggered by fears of contagion from the euro zone debt crisis prompted investors to dump risky assets.
European stocks are primed for a pummeling on Friday, following ravaged U.S. and Asian shares, as Europe's debt crisis sent waves of dread through global markets and battered sterling and the euro.
