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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

One animal's waste is another man's treasure

Jun 8, 2012
Here in the United Kingdom, retail giants like Wal-Mart and grocery store chain Tesco are food waste into green energy.
Posted In: alternative energy, waste

Uncertainty lingers in Spain after bond auction

Jun 7, 2012
Spain raised $2.6 billion in a bond sale this morning, but the higher interest rate of 6.1 percent shows that investors are still concerned that Spain has not wiped their hands clean of the financial mess just yet.
Posted In: spain, bonds, interest rates, Europe debt crisis

G7 leaders to hold emergency conference call

Jun 5, 2012
Finance ministers from the world's seven leading industrialized nations are holding an emergency conference call today to discuss the eurozone crisis.
Posted In: Europe debt crisis, G7

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