The European Commission (European Securities and Markets Authority) continues to press their heavy handed CDS regulations in spite of the objections by the UK and Germany. These two states are particularly annoyed at the EC rules that require a CDS pro…
Fitch cuts ratings on 18 Spanish banks (via AFP) Fitch Ratings downgraded 18 Spanish banks on Tuesday, twisting the knife on a country being pummelled…
Wall Street bankers and traders, given hope by a market rebound in the first quarter, are now seeing earnings and paychecks threatened by turmoil in…
BERKELEY – Fiscal profligacy did not cause the sovereign-debt crisis engulfing Europe, and fiscal austerity will not solve it. On the contrary, such austerity has…
Affluent citizens from France, Britain and other European nations who are concerned about their euro-denominated assets as the euro zone’s sovereign debt crisis worsens are…
New York City balanced its $68.7 billion spending plan for fiscal 2013 with revenue from $7.3 billion in Wall Street firms’ first-quarter profits, state Comptroller…
BRUSSELS — The European Commission cautioned the new French president against overspending in trying to spur growth and warned that Spain still had a long…
The uncertainty looming around worldwide economies sent oil prices sinking below $90 a barrel yesterday (Wednesday), a level not seen since October of last year.
Benchmark crude slid $1.95 Wednesday to finish the day at $89.90 per barrel.
The decline came on the heels of several weeks of slipping oil, sparked by a plethora of less than stellar economic reports. The concerning data mostly involved Europe’s ongoing sovereign debt saga.
Oil gained 0.5% in early afternoon New York trading Thursday, but the reasons for the rally were unclear.
“You don’t know if this is just a short-covering rally or the start of a more significant rally,” Andy Lebow, an oil analyst with Jefferies, told The Wall Street Journal. Lebow said that progress in the talks between Iran and Western powers about Tehran’s nuclear ambitions could have spurred Thursday’s price reversal.
If the gain isn’t maintained, however, prices could head closer to $85 a barrel.
BloombergRussian Stocks Continue Slide On Weaker Oil, Euro FearsWall Street JournalBy Ira Iosebashvili Of DOW JONES NEWSWIRES MOSCOW (Dow Jones)–Russian stocks and the ruble hit multi-month lows Friday, dragged down by weaker oil prices and sovereign …
(via AFP) Singapore on Thursday stuck to its economic growth projections of 1.0-3.0 percent for 2012 but warned there was a chance of a “disorderly…
