FINANCIAL News, Money, Banks, Stock, Economic and Financial Crisis, Jul 08, 2011

The euro crisis and you Fin24 The European Union does not have enough money to bail out all of the countries, and some banksare expected to go down if these countries start to default. In the better-stock-up-on-the-baked-beans scenario, there is a global financial meltdown much ... See all stories on this topic »

Banks: Again under strain Financial Times Just as engineers at the turn of the century blamed the “wrong sort of walking”, sofinancial regulators eight years later blamed the wrong sort of banking for a global crisis whose effects are still felt, particularly in the eurozone. ... See all stories on this topic » Financial Times

Time to Move to Cash? Seeking Alpha Global policy makers have at their disposal the potions to placate investment markets – heavy government spending, easy money policies and regulatory oversight. Fearing a repeat of the Lehman episode that nearly collapsed the global financial system in ... See all stories on this topic »

The Silver Platter Opportunity SilverSeek.com They must manage unending financial crisis without motive toward remedy or solution. The climb has begun. Eager investors have waited and will wait no longer. The Chinese have already begun to re-enter the gold & silver markets armed and loaded with a ... See all stories on this topic » SilverSeek.com

Building Boom in China Stirs Fears of Debt Overload Ocala Instead, the borrowing is done by special investment corporations set up by the city — business entities whose debt shows up nowhere on Wuhan's official financial balance sheet. Adding to the risk, the collateral for many loans is local land valued at ... See all stories on this topic »

Albania Assumes Rotating PABSEC Presidency Journal of Turkish Weekly Despite the global financial crisis, economies in Southeast Europe have continued to reform their business regulations, according to the Doing Business in Southeast Europe 2011 report published by the World Bank's International Financial Corporation on ... See all stories on this topic »

How The BRICS Lost The Crown – Analysis Eurasia Review The G-20 emerged in 1999 in the wake of the financial crisis in Asia. On 25 September 1999, the G7 Finance Ministers and Central Bank Governors announced their decision to “broaden the dialogue on key economic and financial policy issues. ... See all stories on this topic »

ECB set to raise interest rates despite debt crisis The Guardian After supporting banks with unlimited cash through the crisis, the ECB has moved to normalise European money markets. Trichet's patience with European leaders is starting to run thin as he urges them to reduce their budget deficits. ... See all stories on this topic »

U.K. Mint Silver Production Surges 100%: Supply Tight but Bullion Premiums Low Seeking Alpha Despite the worst financial crisis in modern history and global currency debasement on a scale never seen before in modern history. The Royal Mint moved to Llantrisant in Wales from London'sTower Hill in 1968. It makes coins including the 22-carat ... See all stories on this topic »

Wall Street Braces for Second-Quarter Earnings Backlash CNBC.com "Time to make some money," the often pessimistic Richard Bove, a Rochdale Securities analyst, told clients last week. He cited an improvement in the Greek sovereign crisis, Bank of America's Bove rates Morgan Stanley a "buy," but has Goldman stock on a ... See all stories on this topic »

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EUROZONE Debt Crisis News, Jul 08, 2011

Factbox: Coming events in the euro zone debt crisis Reuters July 11 - Euro zone finance ministers hold meeting as work continues on a second bailout package to cover Greece's funding needs up to mid-2014 with private creditor participation. -- Debt agency's next auctions of T-bills fall in July, ... See all stories on this topic »

EURO GOVT-Bunds dip before ECB, Italy yields reflect crisis Reuters LONDON , July 7 (Reuters) - German government bond yields were steady on Thursday, supported by fears the euro zone debt crisis was intensifying, with a solid Spanish bond sale doing little to relieve tension. Two-year German yields were off lows hit ... See all stories on this topic »

Europe sovereign debt crisis biggest threat to insurers - EIOPA Reuters By Myles Neligan LONDON, July 7 (Reuters) - The eurozone sovereign debt crisis is the biggest threat to Europe's insurers, and the risk the sector could suffer losses on its government bond holdings is growing, pan-European industry regulator EIOPA ... See all stories on this topic »

Europeans Caution Ratings Agencies After the Downgrade of Portugal's Debt New York Times By LIZ ALDERMAN and JACK EWING PARIS — European officials scrambled on Wednesday to prevent the debt crisis in Greece from destabilizing their currency union, threatening credit-rating agencies with possible retaliation after the decision on Tuesday ... See all stories on this topic »

Hedge Funds Move Past Greece With Bets That Sovereign Debt Crisis Expands Bloomberg Photographer: Mario Proenca/Bloomberg Hedge funds that trade bonds and loans are increasing bets that Europe's sovereign-debt crisis will spread to Portugal, Spain and Italy, even after Greece won a temporary reprieve with 12 billion euros in aid. ... See all stories on this topic »

GLOBAL MARKETS-Euro under pressure, shares steady; Trichet awaited Reuters By Natsuko Waki LONDON, July 7 (Reuters) - The euro fell broadly on Thursday as investors looked beyond a well-flagged interest rate hike by the European Central Bank to focus on the worseningeuro zone debt crisis, while world stocks held steady just ... See all stories on this topic »

RPT-UPDATE 1-Spain sees strong demand, but pays dearly for bonds Reuters Bids of close to 8 billion euros were received. But the market demanded a high premium for the debt after ratings agency Moody's cut Portuguese debt to junk status on Tuesday, while doubts still abound over the EU's ability to solve the debt crisis and ... See all stories on this topic »

Mobius: A crisis is always around the corner, but the euro will prevail portfolio.hu Mobius is convinced that Europe will get out stronger from its current debt crisis and the euro will become increasingly important for the bloc. He said there is no country that would contemplate leaving the Eurozone. Portfolio.hu: We know Mark Mobius ... See all stories on this topic » portfolio.hu

'Two-speed euro needed in debt crisis' Money Marketing Economic parameters such as interest rates must be set at two levels in the eurozone to accommodate weaker economies if it is to survive the sovereign debt crisis, according to Standard Chartered. Last week, the Greek government approved an austerity ... See all stories on this topic »

Van Rompuy Calls For United Action To Safeguard Financial Stability Of Eurozone RTT News Referring to a sovereign debt crisis that three EU member states are facing, Van Rompuy said "Because we are part of a monetary union, which is beneficial for all euro area countries, it is important that we all act in a united way. ... See all stories on this topic »

PRECIOUS-Factors To Watch on July 7 Reuters LONDON, July 7 (Reuters) - Gold prices rose in Europe on Thursday, supported by interest in the metal as a haven from the euro zone debt crisis and the threat of rising inflation, ahead of a key interest rates announcement from the European Central ... See all stories on this topic »

Germany seeks to revive debt swap plans Irish Times SOVEREIGN DEBT CRISIS: GERMANY IS trying to revive plans for a Greek debt swap as Europe battles to find a way of ensuring private creditors take part in a new bailout for the country. The development comes weeks after Berlin withdrew its proposal in ... See all stories on this topic » Irish Times

Industrials Lift the Dow, But Banks Lag Behind Fox Business However, Bank of America (BAC) and JPMorgan Chase (JPM) counterbalanced the gains amid concerns over exposure to the euro zone sovereign debt crisis. Trading in the first two days following the holiday weekend has been light; indeed, Tuesday's volume ... See all stories on this topic »

OECD joins criticism of rating agencies Straits Times Rating agencies came under strong attack from senior personalities in the European Union on Wednesday after Moody's downgraded Portugal's rating to 'junk' status, casting new doubts on the markets over EU efforts to manage the euro zone debt crisis. ... See all stories on this topic »

Europe moves to check influence of rating agencies Christian Science Monitor A downgrade of Portugal's credit rating to junk status underlines how the Greek crisisis poisoning other weak countries in the euro zone, regardless of their own efforts to shrink their debt and return to growth. By Andrés Cala, Correspondent / July 7 ... See all stories on this topic » Christian Science Monitor

Greece Massive Loss of Sovereignty, EU Seeks to Curb Rating Firms The Market Oracle “Developments since the sovereign- debt crisis show we need to take a further look at reinforcing our rules.” I agree with Schaeuble regarding the need to “break up” the rating agencies. I have spoken about this many times. The key article is Time To ... See all stories on this topic »

Domestic havens best bet in 2011 as resource funds slide Reuters LONDON, July 7 (Reuters) - A series of macroeconomic shocks -- from the euro zone debt crisis to May's commodity sell-off -- combined to hit funds tied to the world economy in 2011, giving funds better insulated from global growth the chance to shine. ... See all stories on this topic »

Investors Exit Bullish Treasurys Bets, But Most Stay Neutral Wall Street Journal Yet most remain neutral rather than placing bearish wagers, because such short bets could be hurt by waves of safe-haven buying of Treasurys if the euro-zone debt crisis worsens. JP Morgan's latest Treasury client survey on Wednesday underscored the ... See all stories on this topic »

Thursday's ETF To Watch: CurrencyShares British Pound Trust (FXB) Business Insider Although Greece passed austerity measures last week, the euro zone is not out of the woods on itsdebt crisis by a long shot. Further plans to help Greece could be viewed as a default by some ratings agencies and Portugal was recently downgraded to ... See all stories on this topic »

Britain: European “contagion” must be resisted In Defense of Marxism (blog) British banks, they say, are sound and with enough capital to insulate themselves against a sovereign debt crisis across the Channel. But these assurances were then contradicted by Mervyn King, governor of the Bank of England, who said the European ... See all stories on this topic »

PIIGS Country ETFs Walloped Investor's Business Daily By TRANG HO, INVESTOR'S BUSINESS DAILY Posted 07/06/2011 06:42 PM ET Debt-ridden countries dragged down European ETFs Wednesday after Moody's downgrade of Portugal's sovereign debt to junk status rekindled fears over the euro zone debt crisis. ... See all stories on this topic »

Has the EU's stress test failed? Business Spectator And then, of course, there is the possibility that the euro itself may not survive the sovereign debt crisis. However, the implications of this scenario might be so severe that they are hard to model. For a start, a Greek exit from the euro could ... See all stories on this topic »

Trading opportunity seen in zinc lead SMC Global Moneycontrol.com Zinc and Lead have shown stunning recovery recently as Greece passed austerity measures but this will be short lived and it is only relief measure because overall euro zone problems is much bigger. Macroeconomic jitters surrounding Europe's debt crisis ... See all stories on this topic »

Lagarde Vows to Diversify Voices at IMF Wall Street Journal Ms. Lagarde pledged that the fund under her leadership wouldn't give special treatment to any of its members and that she "will not be biased" as she works through Europe's debt crisis in her new role. " 'Evenhandedness' [and] 'level playing field' are ... See all stories on this topic »

Hungary Could Adopt Euro Around 2018-20 - Minister Matolcsy NASDAQ BUDAPEST -(Dow Jones)- Europe's debt crisis has shown that only countries with strong economies can benefit from joining the euro zone, the Hungarian economic minister said Thursday. Gyorgy Matolcsy also said his country might be ready to adopt the ... See all stories on this topic »

IMF Board Seen Approving Greek Loan Friday Despite Fears Within Fund Wall Street Journal Despite those concerns, the IMF board is expected to approve the next tranche of loans to Greece to stem the sovereign debt crisis from spilling over into the rest of the euro zone. The IMF's new managing director, Christine Lagarde, the former French ... See all stories on this topic »

Strong data pushes European shares to 5-week high Reuters Banks, which have significant exposure to the eurozone peripheral economies, initially reacted positively, but later gave up gains. Italian lender UniCredit , down 4.2 percent, led the banking sector lower on concerns that the Greek debt crisis could ... See all stories on this topic »

There are real differences in economic policy between Frankfurt and London BBC News It sounds like a good start to a book, but it is also not a bad description of the current state of the economy across Europe. Yet for all the talk about the crisis in theeurozone, especially in Greece, Portugal and the Irish Republic, ... See all stories on this topic » BBC News

The EURUSD fell sharply for a second day yesterday FXstreet.com A significant worsening of the Eurozone peripheral debt crisis in the aftermath of Moody's downgrade of Portuguese debt, a worse than expected US ISM Non-Manufacturing and a Chinese interest rate hike failed to shake off the control the bulls have on ... See all stories on this topic » FXstreet.com

Relaxed Attitude to Insurers Looks Puzzling Wall Street Journal Despite the latest escalation in the euro crisis, including the increasing likelihood of the euro zone's first sovereign default, and news that one in 10 European insurers had failed a stress test, investors appear unfazed. While the Euro STOXX 600 ... See all stories on this topic »

Special Report: What is the Greek Debt Crisis, and What Does it ... Q: What Does This Mean for the Euro? One of the lessons we've learned from the Greek debt crisisis that the Eurozone is not as strong or stable as most believed. Eurozone members attempted a monetary union without united fiscal policy. .... Money Morning News Archive: Stories about Greece; Money Morning: French Banks Scramble to Prevent Another Global Collapse; Money Morning: The Next Global Credit Crisis: Why U.S. Banks and Greek Debt Will be the Toxic Trigger ... The Wall Street Examiner

EU leaders blame the euro crisis on American credit rating ... By Daniel Hannan caption id="attachment_100095709" align="alignnone" width="460" caption="Tusk and Barroso: thecrisis is all the fault of wicked capitalist speculators"][/caption] When EU leaders start claiming that the debt crisis is a plot got up by the ... The truth, of course, is that credit rating agencies were too optimistic about the euro zone, too ready to believe the Eurocrats. Their belated return to reality poses a massive problem for Brussels. It's not just that Portugal must ... News

Finance ministers struggle as eurozone fears increase | European Voice Ministers to meet on Monday in a bid to prevent the eurozone crisis from escalating. Eurozonefinance ministers will return to Brussels on Monday (11 July) to confront fears that the sovereign-debt crisis is intensifying. A credit-rating downgrade for Portugal and a ... Sony Kapoor, the managing-director of Re-Define, a Brussels-based think-tank, said: “The longer the euro crisis stays in the headlines, the more likely it is that Spain and even Italy get sucked in. ... European Voice - RSS - News & analysis

Special Report: What is the Greek Debt Crisis, and What Does it ... By Kerri Shannon Welcome to Money Morning - Only the News You Can Profit From. Skip to content .... Q: What Does This Mean for the Euro? One of the lessons we've learned from the Greek debt crisis is that theEurozone is not as strong or stable as most believed. Eurozone members attempted a monetary union without united fiscal policy. Now it must strengthen membership standards to prevent futurecrises. "If the EU wishes to make the euro work, it must demonstrate that the fiscal rules of ... Money Morning

Investors flee European bonds - NashuaTelegraph.com LOS ANGELES – Europe's debt crisis is going from bad to worse – again. Investors dumped. ...European governments are pressing private investors in Greek bonds to agree to restructure that country's debt as part of the eurozone's planned second bailout of Athens, which is being crushed by a debt burden of nearly $500 billion. Moody's clearly is worried that a Greek deal with private bondholders could set the stage for Portuguese bondholders to be forced into concessions, ... Nashuatelegraph.com: Local News,...

The Debt Crisis in Greece & Europe Drags On | Care2 Causes By Kristina C. While Italy's economy is the third largest among the 17 nations comprising the European Union(Germany and France are in the number one and two spots, respectively), Italy's debt ratio is the next highest after Greece's. ... “If you work backwards and look at Greek public debt and try to understand who owns what, you have a hole of 140 billion euros held by asset managers, pension funds and the like, but there is very little information on the details of those holdings,” ... Care2 Causes

Is Greece Pawning its Gold Bullion? | Gold News By Julian D.W. Phillips Of course, it is pure conjecture on our part to link the gold holdings of three of the Eurozone'sfinancially weakest members to the BIS. In the first quarter of 2010 the BIS recorded the jump in gold holdings that it had acquired. ... But it was at about this time that the Eurozone debt crisis reared its ugly head. In advance of any rescue plans, when the respective central banks probably first began discussions on the matter it would have been deemed prudent to make a ... Gold News - Gold Market Analysis...

ekathimerini.com | Hedge funds betting on crisis spreading Hedge funds that trade bonds and loans are increasing bets that Europe's sovereign debt crisis will spread to Portugal, Spain and Italy, even after Greece won a temporary reprieve with 12 billion eurosin aid. ... ekathimerini.com : Latest News

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WORLD News, Jul 08, 2011

Karachi's ethnic, political violence kills 70 in three days Thu,7 Jul 2011 11:07 PM PDT Reuters - KARACHI (Reuters) - Pakistani police and paramilitary troops were ordered on Friday to shoot on sight in its largest city Karachi after 70 people were killed in three days of ethnic and political violence. Full Story1

TECHNOLOGY News, Jul 08, 2011

Google's Schmidt sees room for several social networks Thu,7 Jul 2011 08:02 PM PDT Reuters - SUN VALLEY, Idaho, July 7 (Reuters) - Google Inc is leaving open the door to more co-operation with social-media giants Facebook and Twitter, and believes there is room for multiple social networks as it rolls out its own, executive chairman Eric Schmidt said. Full Story1

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Twitter security lags some other sites: experts Thu,7 Jul 2011 06:07 PM PDT Reuters - BOSTON/NEW YORK (Reuters) - The fast-growing microblogging site Twitter has fallen behind some other Internet services in introducing tools to help secure the accounts of users, security experts say. Full Story1

Proxy firm unimpressed by RIM promise about board Thu,7 Jul 2011 03:24 PM PDT Reuters - TORONTO (Reuters) - Proxy firm Glass Lewis was left unimpressed by Research In Motion Ltd's promise to study board changes while avoiding an imminent shareholder vote on the matter. Full Story1

Cell phones, devices biggest driving distractions Thu,7 Jul 2011 01:21 PM PDT Reuters - WASHINGTON (Reuters) - Driving distractions, primarily by cell phones and other electronic devices, are associated with up to 25 percent of U.S. car crashes, according to a report released on Thursday. Full Story1

RIM says adds 1 million EMEA subscribers in 3 weeks Thu,7 Jul 2011 12:32 PM PDT Reuters - TORONTO (Reuters) - BlackBerry maker Research In Motion said on Thursday it has added more than one million subscribers in Europe, the Middle East and Africa in less than three weeks. Full Story1

Canada eyes Nortel patent sale review: minister Thu,7 Jul 2011 12:30 PM PDT Reuters - OTTAWA (Reuters) - Canadian Industry Minister Christian Paradissaid on Thursday that officials in his office are studying whether to formally review a sale of Nortel patents to ensure investment law was properly applied. Full Story1

Court OKs TerreStar's $1.38 billion sale to Dish Thu,7 Jul 2011 12:29 PM PDT Reuters - NEW YORK (Reuters) - A judge on Thursday approved TerreStar Networks Inc's proposed $1.375 billion sale to Dish Network Corp, pushing the satellite communications company a major step closer to emerging from a 9-month stint in bankruptcy. Full Story1

James Murdoch defends executive Brooks Thu,7 Jul 2011 12:03 PM PDT Reuters - LONDON, Jul (Reuters) - News International Chairman James Murdoch said on Thursday he regretted the phone-hacking scandal that has led to the closure of the News of the World tabloid and defended his chief executive Rebekah Brooks, a former editor of the paper. Full Story1

DragonWave hopes India can offset Clearwire woes Thu,7 Jul 2011 10:25 AM PDT Reuters - TORONTO (Reuters) - DragonWave, a Canadian supplier of microwave technology for telecoms companies, is pinning its hopes on growth in India to make up for a spending pullback at its main customer, U.S.-based Clearwire, that has left it reporting losses for three straight quarters. Full Story1

Factbox: Advertisers drop Murdoch paper over hacking claims Thu,7 Jul 2011 08:54 AM PDT Reuters - LONDON (Reuters) - Supermarket Sainsbury, cellphone operator O2 and a war veterans charity whose patron is Britain's Queen Elizabeth have joined a growing list of organizations to suspend ties with the News of the World as a scandal over hacking allegations deepens. Full Story1

UK to probe court evidence from former Murdoch editor Thu,7 Jul 2011 08:54 AM PDT Reuters - LONDON (Reuters) - Scottish police were asked on Thursday to investigate evidence given in court by witnesses including former News of the World editor Andy Coulson following the latest developments in the phone hacking scandal engulfing the newspaper. Full Story1

Timeline: New hacking revelations hit News Corp Thu,7 Jul 2011 08:54 AM PDT Reuters - (Reuters) - Here is a timeline of events in the long-running phone-hacking scandal engulfing Rupert Murdoch's media empire which grew on Thursday with new claims. Full Story1

Murdoch keeps low profile at Sun Valley, avoids press Thu,7 Jul 2011 08:54 AM PDT Reuters - SUN VALLEY, Idaho (Reuters) - Rupert Murdoch kept a low profile and managed to miss the press pack at Sun Valley on Wednesday, avoiding questions on the phone-hacking scandal at his company's UK tabloid paper and how it might hit its plan to take over satellite TV company BSkyB. Full Story1

Apple's app downloads race ahead, surpass 15 billion Thu,7 Jul 2011 08:00 AM PDT Reuters - NEW YORK (Reuters) - Apple Inc customers downloaded more than 15 billion applications in the past three years, the company said on Thursday, releasing figures that suggest the rate of downloads is sharply accelerating. Full Story1

Murdoch declines further comment on hacking at Sun Valley Thu,7 Jul 2011 07:27 AM PDT Reuters - SUN VALLEY, Idaho (Reuters) - Rupert Murdoch declined to comment further on the escalating phone hacking scandal at his British newspapers, saying on Thursday that he would not be adding to a statement he issued a day earlier. Full Story1

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