PORTUGAL

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Portugal To Keep 3 Big Banks Going With $8.2B

Portugal will give ?6.6 billion ($8.2 billion) to its three largest banks to help them beef up their balance sheets. Receiving the capital injection are two private banks, Banco Comercial Português and Banco BPI, and state-owned Caixa Geral de Depositos.

Bernanke's Next Move, Trade Balance And Lots Of Fed Talk: Economic Events for June 4-8

Federal Reserve Chairman Ben Bernanke arrives to speak at a conference on systemic risk, at the Federal Reserve in Washington
The April trade data is likely to garner the most market attention, while the Fed Beige Book will set the tone for the upcoming Federal Open Market Committee (FOMC) meeting. On Thursday, markets will also be watching Fed Chairman Ben Bernanke's testimony to Congress, which could provide clues on whether the Fed is ready to take additional steps to support growth.
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Running of the Bulls 2011. Pamplona, Spain

Is Germany Next? Investors Flee Madrid's CDS For Berlin

Investors are increasingly making a flight to quality as they pull out of credit-default swaps hedges on Europe's primary index as well as the markets for periphery nations like Spain, a trend which indicates higher expectations that periphery nations are unable to repay their debts and a lack of confidence in the political will of the economic union.
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Japan Tobacco Targets European Smokers

Japan Tobacco Inc. (Tokyo: JT) is buying all outstanding shares in Belgian tobacco company Gryson NV from its parent GT&Co BVBA for ?475 million ($596.3 million), the company announced Thursday.
ECOWAS

Guinea-Bissau: ECOWAS Troops Arrive For Peacekeeping Mission

On Thursday, 70 troops arrived in Guinea-Bissau as part of a peacekeeping initiative by the Economic Community of West African States (ECOWAS). The troops are meant to stabilize the country as it prepares for national elections in 12 months, following a military coup that deposed the civilian government.
Euro

Forex: What Happens If Greece Leaves The Euro?

The growing possibilities of an imminent Greek exit from the single currency bloc could drive up the value of safe-haven currencies such as the U.S. dollar and the British pound, while hurting a number of emerging Asian currencies that are sensitive to investors' risk appetite.
EU Delegation in China

European Influence Dips As Positive Opinions Of China Rise

International opinions about which nations serve as a positive influence on global affairs are changing. Around the world, more people are looking to Asia, with Japan topping the list, while increasing numbers are disappointed with Europe. However, Asians themselves remained wary of their neighbors.
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Voters In Germany's Biggest State Crush Merkel's CDU

Chancellor Angela Merkel's conservatives suffered a crushing defeat Sunday in Germany's most populous state, which could embolden the left opposition to step up its criticism of her European austerity policies.
U.S. investors came back from a long holiday weekend to a flurry of big news from Spain Tuesday, as the government there is looking to stave off the imminent collapse of nationalized financier Bankia S.A. -- the country's fourth-largest bank -- with a €19

Spain To Demand That Banks Recognize More Losses

Spain stepped up efforts to save its troubled banks on Thursday with a plan to make them recognize huge losses from a property crash, but uncertainty over the final cost of a rescue hit the euro, Spanish debt and global stock markets.

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