 SINGAPORE (Reuters) - Shares tumbled on Monday despite efforts by global policymakers to stem a collapse in investor confidence after S&P downgraded the U.S. credit rating, but the euro firmed on hopes the ECB will act to stop Europe's debt crisis from engulfing Italy and Spain. | |
| G20 vows coordinated steps for fin stability: South Korea Sun,7 Aug 2011 11:27 PM PDT Reuters - SEOUL (Reuters) - Finance chiefs of the Group of 20 major economies affirmed their commitment to take all necessary coordinated steps to support financial stability and foster strong economic growth, said a joint statement released by South Korea on Monday.Full Story | |
| SNB should defend franc target: Swiss experts Sun,7 Aug 2011 11:17 PM PDT Reuters - ZURICH (Reuters) - The Swiss National Bank will have to set an exchange rate target and intervene to defend it if it wants to stop the safe-haven franc soaring to new record highs amid mounting concerns about the world economy, Swiss experts said on Sunday.Full Story | |
| Japan finmin says expects BOJ to keep supporting economy Sun,7 Aug 2011 11:02 PM PDT Reuters - TOKYO (Reuters) - Japanese Finance Minister Yoshihiko Noda said on Monday he expects the central bank to continue supporting the economy with an ultra-easy monetary policy. Full Story | |
 PARIS (Reuters) - The European Central Bank waved its big fire hose at blazing bond markets, then turned on a puny sprinkler. | |
 (Reuters) - U.S. insurance giant American International Group is planning to sue Bank of America to recover more than $10 billion in losses on $28 billion of investment in mortgage-backed securities, the New York Times said citing three people with knowledge of the complaint. | |
| BlackRock looks to buy more U.S. mortgage agency debt Sun,7 Aug 2011 09:30 PM PDT Reuters - SINGAPORE (Reuters) - BlackRock, the world's largest money manager, is looking for opportunities to buy U.S. mortgage agency debt in the wake of Standard & Poor's downgrade of the U.S. sovereign rating, said Rick Rieder, the firm's chief investment officer of fixed income, fundamental portfolios. Full Story | |
| Regulators send subpoenas to high-frequency traders: report Sun,7 Aug 2011 08:35 PM PDT Reuters - (Reuters) - The U.S. securities regulator has sent subpoenas to high-frequency trading firms in relation to last year's "flash crash" probe, the Wall Street Journal reported, citing people familiar with the matter. Full Story | |
 NEW YORK (Reuters) - Almost half the workers in Verizon Communications' wireline telecommunications business went on strike on Sunday as negotiations for a new labor contract failed. | |
| G7 says committed to ensure liquidity, support markets Sun,7 Aug 2011 05:42 PM PDT Reuters - PARIS (Reuters) - The Group of Seven nations is committed to taking coordinated action to ensure liquidity and to support financial market functioning, financial stability and economic growth, G7 finance ministers and central bank governors said in a statement. Full Story | |
| G7 says committed to ensure liquidity, support markets Sun,7 Aug 2011 04:51 PM PDT Reuters - PARIS (Reuters) - The Group of Seven nations is committed to taking coordinated action to ensure liquidity and to support financial market functioning, financial stability and economic growth, G7 finance ministers and central bank governors said in a statement. Full Story | |
| China state paper says U.S. failings threaten global recovery Sun,7 Aug 2011 04:46 PM PDT Reuters - BEIJING (Reuters) - The United States and Europe must summon the political will to overcome their debt crises or global economic recovery will be threatened, China's top official newspaper said on Monday, amplifying Beijing's drum beat of warnings to the West.Full Story | |
 NEW YORK (Reuters) - U.S. assets fell sharply in early electronic trading on Sunday in response to a downgrade of the U.S. credit rating by Standard & Poor's, while the euro rose on expectations of further bond purchases by the European Central Bank to deal with the euro zone's debt crisis. | |
| Euro zone must ensure financial stability: UK finmin Sun,7 Aug 2011 04:21 PM PDT Reuters - LONDON (Reuters) - The euro zone has to take all measures necessary to ensure financial stability, Britain's finance minister George Osborne said in an op-ed piece for the Daily Telegraph due for publication on Monday. Full Story | |
 NEW YORK (Reuters) - A downgrade of United States' top-tier credit rating has Wall Street scrambling to figure out the knock-on effects for the financial system, from mortgages to banks to markets that rely on U.S. Treasuries for collateral. |
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