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Tensions growing between Turkey and Syria

Jun 27, 2012
The 15-month uprising in Syria has been especially worrisome for Turkey -- which shares a border -- now more than ever after Syria shot down a Turkish military plane last Friday. Before the conflict, the two had been trading partners.
Posted In: syria, turkey

Japan wants to double national sales tax to fix deficit

Jun 26, 2012
A government plan would increase the nation's sales tax from 5 percent to 10 percent. Critics say this would affect consumer spending.
Posted In: sales tax, Japan

Egypt announces new president-elect Mohamed Morsi

Jun 25, 2012
Egypt has a new president-elect. It's Mohamed Morsi, whose political party, the Muslim Brotherhood, was banned while former President Hosni Mubarak was in office.
Posted In: Egypt, Muslim Brotherhood, elections

China, Brazil forge currency swap deal

Jun 22, 2012
With consumer demand still sluggish in the U.S. and Europe, China is looking elsewhere for new customers to places like Brazil. In fact, this week China and Brazil agreed to a landmark deal that avoids using the U.S. dollar.
Posted In: reserve currency, China, brazil, yuan

How central bank tactics stack up

Jun 21, 2012
The U.S. Federal Reserve says it will continue holding interest rates down the rest of the year through its "Operation Twist" -- swapping short-term securities for long-term ones. But the economic crisis is global, and ours is not the only central bank that's worried about stoking economic growth.
Posted In: European Central Bank, Federal Reserve

Russian ship with helicopters for Syria turns around

Jun 20, 2012
The U.S. and Europe are focused on diplomacy and sanctions to stem violence in Syria -- and perhaps force the current regime from power. One problem is Russia's alleged supply of arms to the government there. But Western diplomats have discovered a vulnerability: every weapons-carrying ship has to carry insurance.
Posted In: Russia, syria, weapons, insurance

Some stability comes with Greek election results

Jun 18, 2012
The Greek election result has so far brought modest relief to financial markets around the world. A victory by the New Democracy party suggests Greece is not headed for a quick and messy exit from the euro.
Posted In: Greece, elections

French Socialist Party wins majority in parliament

Jun 18, 2012
Voters in France this weekend gave President Francois Hollande's Socialists a solid majority in the lower house of parliament, complementing their majority in the upper house and thus, complete legislative power in the government.
Posted In: Europe, France, Francois Hollande

Spain gets a short term fix in euro bailout

Jun 11, 2012
European leaders agreed to bail out Spain's banks to the tune of $125 billion over the weekend. Spanish banks were hemorrhaging cash ahead of this weekend's crucial election in Greece -- that could lead to a Greek exit from the euro.
Posted In: spain, Europe debt crisis, bank bailout

Spain avoids government bailout with bank rescue

Jun 11, 2012
Wounded banks in Spain will now be able to draw up to $125 billion in money from the EU. Spanish Prime Minister Mariano Rajoy credited government reforms with limiting the scope of the financial crisis to the banking system.
Posted In: spain, Europe debt crisis, bank bailout

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