IBT Staff Reporter

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Deal reached on second Greek bailout package

Euro zone finance ministers struck a deal early on Tuesday for a second bailout program for Greece that includes new financing of 130 billion euros and aims to cut Greece's debt to 121 percent of GDP by 2020, two EU officials said.

Euro Zone Reaches Deal on Second Greek Bailout Package

Euro zone finance ministers struck a deal early on Tuesday for a second bailout program for Greece that will involve financing of 130 billion euros and aims to cut Greece's debts to 121 percent of GDP by 2020, EU officials said.

Second Greek bailout in reach, funding gap narrows

Euro zone finance ministers, locked in marathon overnight talks, inched towards approving a second bailout for debt-laden Greece that would resolve Athens' immediate repayment needs but seems unlikely to revive the nation's shattered economy.

Stocks, euro ease as markets await Greek deal

Asian stocks and the euro faltered on Tuesday, as a rally that had been driven by expectations of a second bailout package for Greece ran out of steam with a deal still not quite sealed.

Exclusive: Greek debt may remain at 160 percent in '20: IMF/ECB

Greece will need additional relief if it is to cut its debts to 120 percent of GDP by 2020 and if it doesn't follow through on structural reforms and other measures, its debt could hit 160 percent by 2020, a confidential analysis conducted by the IMF, European Central Bank and European Commission shows.

LightSquared Misses Inmarsat Payment

Satellite firm Inmarsat said LightSquared, a venture struggling to build a U.S. mobile broadband service with Inmarsat's spectrum, failed to pay a $56.25 million installment to the British company.

Britain, Netherlands call for EU to focus on growth

Britain, the Netherlands, Italy and nine other countries called on Monday for Europe to shift its focus from tough budget cuts towards measures to create growth as the region looks headed for its second recession in three years.

Ex-Goldman Analyst Writes White Collar Crime Tale

The Darlings tells a fictional tale about the downfall of a hedge fund and the wealthy family that owns it during Wall Street's 2008 meltdown, but many aspects of the novel are drawn straight from author Cristina Alger's reality.

Decision day for 2nd Greek bailout despite financing

Euro zone finance ministers are expected to approve a second bailout for Greece on Monday to try to draw a line under months of uncertainty that has shaken the currency bloc, although work remains to be done to make the numbers add up.

Ecuador court rejects Chevron arbitration ruling

A court in Ecuador has rejected an order by arbitrators that an $18 billion pollution ruling against Chevron should be frozen, but the judges referred an appeal by the U.S. oil company to the country's Supreme Court.

Aircraft financing costs seen close to peak

The cost of financing new planes may come off current highs for some carriers as lenders step up competition for creditworthy debtors, a top supplier of aircraft financing told Reuters.

Inmarsat Goes after LightSquared for Missed Payment

The Reston, Va.-based closely held company failed to pay London-based telecommunications firm Inmarsat $56.3 million under a spectrum-cooperation accord, Bloomberg reported Monday. Inmarsat was providing wireless spectrum for the wireless network LightSquared wants to build out in the U.S.

French steel workers occupy ArcelorMittal plant

Workers at an idled ArcelorMittal steel plant in northeast France occupied the site Monday, seeking to put their plight on the political map ahead of a presidential election where industrial decline is a central theme.

Euro zone ministers, officials before Greek talks

Euro zone finance ministers and officials arrived on Monday to discuss a second bailout package for Greece. They were expected to approve a package of aid to draw a line under months of turmoil that has shaken the currency bloc. But technical issues remained outstanding before the meeting.

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