GREECE News, Aug 05, 2011

Royal Bank of Scotland posts £794m loss after Greece hit Telegraph.co.uk Part-nationalised Royal Bank of Scotland today swung to a half-year loss as it took a £733m hit on its exposure to Greece's debt-laden economy. The bank reported a loss of £794m in the six months to June 30, compared with a £1.1bn profit last year. ... See all stories on this topic »

Turmoil in Europe spills into US markets USA Today Fears that the debt crisis that started last year in Greece is spreading to much larger economies such as Spain and Italy roiled markets around the world, sending investors scurrying out of everything from gold to oil to stocks. ... See all stories on this topic » USA Today

Portugal's New Austerity Fails to Bring Down Borrowing Costs: Euro Credit Bloomberg By Joao Lima - Thu Aug 04 23:01:00 GMT 2011 July 25 (Bloomberg) -- Otto Waser, chief investment officer of R&A Research & Asset Management AG, discusses the European sovereign debt crisis after today's downgrade by Moody's Investors Service of Greece's ... See all stories on this topic »

The global craze for austerity will result in more pain ABC Online According to this compelling portrait of the country's woes by Aditya Chakrabortty of The Guardian, "Greece today looks like parts of Latin America in the worst moments of its financial crisis". Greece's official unemployment rate is 16 per cent, ... See all stories on this topic » ABC Online

Greece Must Consolidate Budget to Calm Euro Area, Roesler Says San Francisco Chronicle Only once they do that will European leaders consider further measures, Roesler, who is also Chancellor Angela Merkel's deputy, told reporters in Oslo today. "The problems that arose in several nation states should be solved on a national basis," ... See all stories on this topic »

Europe's Plan Won't Cut Greek Debt: Allen, Eichengreen and Evans Bloomberg A 21 percent reduction in net present value sounds impressive, but it has no bearing on the amount by which the exchange will reduce Greece's debt. No one appreciated that 30-year zero-coupon bonds are much more expensive in today's low-interest-rate ... See all stories on this topic »

Gambling Review News » Blog Archive » Greece ignoring EU about ... It seems that Greece is content to ignore the European Commission when it comes to their online gambling regulations. Today the country is pushed forward ... www.gamblingreviews.com/news/?p=2318

The OECD forecast: Greece will return to ... - Stock Market Today Organization for Economic Cooperation and Development 2 predicts that the Greek economy will grow by 0.6%. This will be a continuous decline in. www.stockmarkettoday.cc/the-oecd-forecast-greece-will-retur...

Yup. Italy becoming the next Greece today started it today. Italy becoming the next Greece today started it today. Posted by nm on August 04 , 2011 at 21:38:00: In Reply to: Heard a woman from the Stock Exchange say ... members.sitegadgets.com/Restuvus4/board/87732.html

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BARACK OBAMA News, Aug 05, 2011

AP sources: Obama wants aid for unemployed vets Channel 8 San Diego Thu, 04 Aug 2011 21:13 PM PDT President Barack Obama is asking Congress to approve new initiatives to help some of America's 1 million unemployed military veterans find work, including tax credits for companies that hire out-of-work vets.

F-16s intercept plane during Obama visit The Youngstown Vindicator Thu, 04 Aug 2011 21:10 PM PDT F-16s intercept plane during Obama visit SOUTH BARRINGTON, Ill. Two F-16 fighter jets

Obama to push tax credits for hiring veterans Reuters via Yahoo! News Thu, 04 Aug 2011 21:09 PM PDT WASHINGTON (Reuters) - President Barack Obama on Friday will propose a $120 million package of new tax credits for businesses that hire U.S. veterans returning from Iraq and Afghanistan at a time of stubbornly high unemployment at home.

Obama To Announce New Steps To Get Veterans Back To Work ABC News Thu, 04 Aug 2011 21:06 PM PDT ABC Newsâ Mary Bruce (@marykbruce) reports: Today the president will announce new steps aimed at helping the nationâs one million unemployed veterans get back to work. In a speech at the Washington Navy Yard, the president will challenge the private...

Obama returning to Holland for battery plant visit WZZM 13 Grand Rapids Thu, 04 Aug 2011 21:05 PM PDT HOLLAND, Mich. (WZZM) -- For the second time in 13 months President Obama is coming to Holland. This visit again revolves around the city's growing electric plug-in vehicle battery industry.

Weprin wonât endorse Obama for now JTA Thu, 04 Aug 2011 21:05 PM PDT David Weprin, the Democrat running to replace disgraced congressman Anthony Weiner, declined for now to endorse President Obama's reelection

Obama's Midwest ride is on taxpayers' dime Pittsburgh Tribune-Review Thu, 04 Aug 2011 21:01 PM PDT When Washington politics get too hot, get on a bus and head out of town.

Obama supporters already on the attack for 2012 election Daily Press Thu, 04 Aug 2011 20:47 PM PDT Surrogates for the president's campaign are pushing back early against criticism on the economy, and are developing lines of attack against his potential Republican opponents, especially Mitt Romney. The stock market plunge highlights a challenge President Obama faces in his quest for a second term: With a recovery that is anemic at best, he probably will be forced to run on something other than ...

Obama Praises Deal to Halt Aviation Shutdown WIFR Rockford Thu, 04 Aug 2011 20:43 PM PDT Senate Majority Leader Harry Reid announced a deal to extend the FAA's operating authority through mid-September.

Middle Class, Poor Will Pay for a Decade of War Debt Albuquerque Journal Thu, 04 Aug 2011 20:40 PM PDT President Barack Obama touted his debt-ceiling deal Tuesday, saying, "We can't balance t ...

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FINANCIAL News, Money, Banks, Economic and Financial Crisis, Aug 04, 2011 (2)

Stocks Take Nose Dive On Economic Fears NPR Investors are increasingly worried about economic weakness in the US and a debt crisis in Europe. "We are continuing to be bombarded by worries about the global economy," said Bill Stone, chiefinvestment strategist at PNC Financial. ... See all stories on this topic »

Stocks plunge as economic, Europe worries continue Forbes By DAVID K. RANDALL , 08.04.11, 03:38 PM EDT The stock market is in the midst of its biggest retreat since the financial crisis. The Dow Jones industrial average plunged as many as 440 points Thursday afternoon. It is now down more than 1200 points ... See all stories on this topic »

Treasury Yields Evoke Eisenhower Era as Growth Stalls Bloomberg The yield, which dropped to as low as 2.46 percent today in New York, reached a record low of 2.04 percent in December 2008 during the global financial crisis. Investors are piling into Treasuries after the European Central Bank resumed bond purchases ... See all stories on this topic »

AT A GLANCE: Financial Markets Reel Amid Growth, Debt Fears Wall Street Journal THE EVENT: Concerns about dismal economic growth prospects, the sovereign debt crisis in Europe and the inability of officials around the globe to craft solutions to those problems sparked big losses on financial markets Thursday. US stocks were at ... See all stories on this topic »

Perfect Storm of Terrible News Sends Dow Plunging 300 Points The Atlantic Peter Schroeder at The Hill notes that the Dow "has lost more points in the last two weeks than it did after the House initially failed to approve a bailout of US banks at the height of the financial crisis in 2008." In another rocky day on Wall Street ... See all stories on this topic »

Japan Follows Switzerland in Intervening to Stem Currency's Appreciation Bloomberg In Europe, policy makers have failed to contain a crisis that's required a second bailout of Greece. Spanish and Italian 10-year government bond yields reached euro-area record levels this week on concern that increasing debt-servicing costs and ... See all stories on this topic »

Indonesia Growth Spurs World's Priciest Stocks as BRICs Retreat BusinessWeek Faster growth and lower inflation spurred Standard & Poor's and Fitch Ratings to say this year they may give President Susilo Bambang Yudhoyono's government an investment grade credit grade for the first time since the Asian financial crisis in 1997. ... See all stories on this topic »

Even after default scare, US Treasuries remain safest Reuters ... according to Bank of America Merrill Lynch Fixed Income Index data. The longbond's rally over the past four sessions produced a total return of 6.3 percent, its best such streak since the trailing days of the financial crisis in December 2008. ... See all stories on this topic » Reuters

Canadian investors in for rough ride, says economist Global Saskatoon The volatile market has unnerved investors in Canada and around the world. To address some of their concerns, Global News spoke to Martin Schwerdtfeger, senior economist at TD Bank FinancialGroup. Stock markets tumbled Thursday. ... See all stories on this topic »

Bank of New York sets precedent for charging interest on clients for owning cash Examiner.com Now that a new global credit crisis is rising in Europe and the US once again, the need forinvestment banks to get people into, or remain holders of equities is imperative as signs of a market selloff raise questions on the solvency of the global ... See all stories on this topic »

Newspaper Briefing, including 'FTSE 100 led European shares down on US ... Proactive Investors UK The US economy is also flat lining, with slower growth now expected - confidence in the country evaporated overnight and a frantic hour of trading on Wall Street sent the Dow Jones Industrial Average on its worst run since the financial crisis, ... See all stories on this topic »

Austerity Top Priority As Economy Sputters, Americans Suffer Huffington Post From the Wall Street perspective, "inflation is a huge risk," said Troy Davig, US economist at Barclays Capital, the British investment bank. That's because inflation erodes the value of bonds. "It's implicitly defaulting on the debt," he said. ... See all stories on this topic »

COVER STORY FM.co.za Paul Hansen, Stanlib head of retail investing, says an increasing number of Liberty agents and Standard Bank financial planners are repatriating their clients' offshore portfolios. “They've had enough of the complaints from clients about the way the ... See all stories on this topic »

Debt wrangling: Your guide to economic chaos Sydney Morning Herald Photo: Reuters How could this be? Aren't we just recovering now from the global financial crisis, you ask? In the financial crisis of 2008 it was the banks which had all the debt, and the governments which bailed them out. Fast forward three years and... See all stories on this topic » Sydney Morning Herald

European Shares in recovery as market awaits bank's policy Business Daily Africa The price of gold, viewed as a safe haven investment in troubled economic times, traded at $1663 an ounce on the London Bullion Market, off Wednesday's record high. “Financial markets on Wednesday continued to be rocked by a perfect storm of poor... See all stories on this topic » Business Daily Africa

G20, central banks may have to step in again Montreal Gazette By ANDREW TORCHIA and PAUL CARREL, Reuters August 4, 2011 With financial markets in turmoil and economic growth slowing, policy-makers around the world may once again be forced to co-operate to try to head off a crisis, as they did successfully in ... See all stories on this topic »

US Stocks Plunge As Recession Fears Spur Broad Selloff Wall Street Journal The bank cited the massive dollar deposits it has received over recent weeks, as investors and corporations retreat from financial markets amid Europe's debt crisis and the recent debate over US government borrowing. Investors fled to US Treasurys, ... See all stories on this topic »

The impossible job creation dream Salon Such an outcome would be resisted by America's financial elite and its professional elite, including liberal professionals. But both of these economic elites are much too big to be sustained by a slow-growing US and world economy. ... See all stories on this topic » Salon

updatedTSX erases 10 months of gains CBC.ca Bank of New York clients include pension funds and large investment houses. "Investors are deciding that now is the time to take risk off the table," said Brian Gendreau, market strategist for Cetera Financial Group. On Wednesday, the Swiss National ... See all stories on this topic » CBC.ca

SA well placed to weather external shocks Independent Online However, this scenario - essentially a reprise of the 2008 financial crisis, which knocked 39 percent off the value of the rand - is far from certain given the growing view that risks in established markets may be just as high as in emerging ones. ... See all stories on this topic » Independent Online

Search on For Safe Investment Ports in Crisis IBTimes Hong Kong By Jeremy Gaunt, European Investment Correspondent | August 4, 2011 9:04 PM HKT The globaleconomy is more sluggish than first thought, government bonds offer no real return, gold is super expensive and stock markets sell off at the slightest setback. ... See all stories on this topic »

Analysis: Crackdown on bank risk leaves "black box" empty IBTimes Hong Kong At the same time, financial watchdogs are putting an end to the behind-closed-doors trading of derivatives, a practice that earned itself a bad reputation in the credit crisis, when arcane derivatives blew up without forewarning. ... See all stories on this topic »

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