Bankers are bracing for a Greek default, and their best hope is that Europe can erect firewalls around the banking system strong enough and soon enough to prevent it from spreading to other euro-zone countries.
Bank stocks are clearly trading as if a redux of Lehman Brothers is imminent.
As Europe's debt crisis deepens, low-yielding U.S. government debt and the much maligned dollar are suddenly glowing more brightly than gold.
At a meeting with E.U. finance ministers, U.S. Treasury Secretary Timothy Geithner made the case for a leveraged E.U. buyout fund ala the U.S.'s successful 2008 TALF, to help address Europe’s banking crisis, but the structure and size of any beefed-up intervention mechanism remained undetermined as of Friday night in Europe.
Gold prices rebounded Friday, along with other safe-haven investments, literally hours after dropping sharply on word that the world's biggest central bankers were jointly moving to protect the eurozone's commercial financial institutions.
Gold and silver prices moved higher late Thursday after posting big losses in the New York futures market.
Gold and silver fell hard Thursday after five major central banks announced a coordinated plan to inject U.S. dollars into European banks straining under the load of the continent's sovereign debt crisis.
The world's major central banks, led by the European Central Bank and the U.S. Federal Reserve, in a coordinated effort Thursday intervened to provide dollar loans to commercial banks in an effort to maintain liquidity in Europe and check institutional investor concern about Europe's private sector banks. What will be the impact on U.S. stocks?
U.S. Treasury Secretary Timothy Geithner said Wednesday the global financial crisis, which has experienced two stages, is not likely to see a third -- as least not one emanating from Europe's banking sector.
Asian stocks, U.S. index futures and the euro fell on Wednesday as investors remained unconvinced that euro zone leaders have a coherent plan to tackle the bloc's sovereign debt problems, which many fear could trigger a new banking crisis.
Greece's exit from the euro zone would inflict untold damage on Europe's economy, further burnish the attractiveness of a rising Asia and hasten the emergence of China's yuan as a global currency.
In the event the Bank actually follows through with this huge elimination, it would represent one of the biggest job culls in recent corporate history.
The global economic slowdown has brought emerging Asia's rate-hiking cycle to a premature pause and the next step could be easing if the United States slides into a recession or Europe's debt troubles spawn a full-blown financial crisis.
G7 finance chiefs meet on Friday under heavy pressure to take action over flagging growth in rich nations and calm the biggest confidence crisis to hit the global economy since the 2007-09 credit crunch.
In writing the only book so far on GE leader Jeff Immelt -- Jeff Immelt and the New GE Way -- it was evident the leader was marked from the start by two distinct things. One was quite obvious, that Immelt followed Jack Welch, a man hailed at the end of the 20th century as one of the greatest business leaders of that century.
Central banks from around the world are placing record sums of money into the Fed as a safe haven, at amounts even higher than during the Lehman Brothers meltdown.
Dick Cheney won’t be the only one turning heads this year.
Lehman Brothers Holdings Inc will ask a bankruptcy judge on Tuesday to let creditors vote on its $65 billion payout plan, a key step toward ending the biggest bankruptcy in U.S. history.
Warren Buffett showed again this week that his name and money is enough to give a struggling company instant credibility in the market. But the legendary investor also demonstrated his canny command of that reputation means that such deals can immediately generate profits.
On his days off, Cordell Kent drives with his family about an hour into the eastern Australian countryside, lays out a picnic blanket and then joins hundreds of other families panning for gold in hopes of striking it rich.
German consumer sentiment fell slightly going into September, a survey showed on Thursday, hitting a 10-month low as the euro zone debt crisis and fears of another recession in Europe and the United States weighed on consumer expectations.
Central bankers and economists from around the globe will once again flock to the Federal Reserve's annual gathering in Wyoming this week, and once again will meet against the backdrop of volatile markets and the prospect of further Fed support for a struggling U.S. economy.
