Stock index futures fell on Tuesday on renewed concerns that Greece and private bondholders would not meet a looming deadline to complete a debt swap, potentially opening the way for a messy default that could hurt neighboring economies.
By a Reuters staff reporterMyanmar will begin a managed float of its currency in the fiscal year from April and develop an interbank money market, according to central bank documents obtained by Reuters, ending a fixed-rate currency system that has stifled investment and fueled a black market.
A disorderly Greek default would cause more than a trillion euros ($1.3 trillion) of damage to the euro zone and could leave Italy and Spain dependent on outside help to stop contagion spreading, the main bondholders group has said.
Stock index futures fell on Tuesday on renewed concerns that Greece and private bondholders would not meet a Thursday deadline to complete a debt swap, potentially opening the way for a messy default.
Stock index futures pointed to a lower open for equities on Wall Street on Tuesday, with futures for the S&P 500, the Dow Jones and the Nasdaq 100 futures down 0.8 to 0.9 percent.
European shares fell sharply and the euro hit a near three-week low on Tuesday on worries that Greece will not be able to complete a major debt restructuring deal and on growing concern that global economic growth is weakening.
Shares in AIA Group Ltd had their second-biggest one-day percentage fall on Tuesday after its former parent, American International Group ), raised about $6 billion by selling shares at the bottom end of the marketing range.
A disorderly default in Greece would likely necessitate outside support for Spain and Italy to stop the threat of contagion, and could cause more than 1 trillion euros of damage to the euro zone, a group of bondholders warned.
- American International Group raised about $6 billion by cutting its AIA Group stake in a deal that was priced at the bottom of the bailed-out U.S. insurer's own expectations.
International tax evasion by multinational companies that take advantage of tax-rate disparities among countries is on the rise, according to an international study group.
Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry had anticipated, though still likely to deal a blow to the economies of New York City and New York state.
Wall Street's bonuses fell nearly 25 percent in 2011, a New York City fiscal watchdog estimated on Monday, a less severe drop than the industry has anticipated, though still likely to deliver a blow to the economies of New York City and New York state.
Within three months of the launch of the Internet pornography domain .xxx, 10 cases have been launched against Web pirates registering sites on it using the names of reputable companies and people, insiders said on Monday.
Stocks fell on Monday for the second straight session and the third in the last four trading days, led lower by basic materials shares after China trimmed its growth target for 2012.
Despite how they sound or what they taste like, pork donuts are hitting the store shelves relatively soon.
As President Barack Obama and Israeli Prime Minister Netanyahu met at the White House Monday afternoon, about two hundred Occupy AIPAC protesters demonstrated against war in Iran and for Palestinian rights.
The former Rutgers University student who secretly captured his gay roommate's sexual encounters on a webcam allegedly planned to host a viewing party, according to friends. Dharun Ravi is on trial for invasion of privacy, bias intimidation and a number of other criminal counts after his roommate, Tyler Clementi, committed suicide by jumping off the George Washington Bridge in September 2010.
Swiss lawmakers have passed a tax proposal seen as key to settling a U.S. probe into Swiss banks with hidden offshore accounts.
Only a dire situation would call for the Federal Reserve to buy more assets, and that is unlikely given the better-looking economic data, a top central bank official said on Monday.
Though India's Festival of Colors doesn't officially start until March 8, Lathmar Holi attracted thousands of revelers over the weekend to the small villages of Barsana and Nandgaon.
The services sector expanded at its fastest pace in a year in February, helped by a gain in new orders and as the housing market shows signs of stabilizing.
El Paso Corp delayed a shareholder meeting for voting on the pipeline company's roughly $23 billion acquisition by rival Kinder Morgan Inc to give investors more time to consider a judge's ruling that criticized some of the deal's participants.
Greece has recalled its warship from the European Union's anti-piracy task force in the Indian Ocean to save money as it struggles to meet fiscal targets set by international lenders in return for a bailout package.
Only a dire situation would call for the Federal Reserve to buy more assets, and that is unlikely given the better-looking economic data, a top central bank official said on Monday.
The basic materials and energy sectors led stocks lower on Monday after China, the world's second-largest economy, cut its growth target for 2012.
The owners of the New York Mets baseball team on Monday lost their bid to end a $386 million lawsuit brought by the trustee seeking money for victims of Bernard Madoff's fraud.
The U.S. Internal Revenue Service's new software system for handling electronic tax returns has experienced problems during the tax filing season, angering some taxpayers whose refunds have been delayed.
Stocks fell on Monday, dragged lower by the basic materials and energy sectors after China, the world's second-largest economy, cut its growth target for 2012.
Stocks fell on Monday, dragged lower by the basic materials and energy sectors after China, the world's second-largest economy, cut its growth target for 2012.
Yahoo Inc's new chief executive is preparing a significant restructuring of the Internet company, including layoffs that could cut thousands of employees from its payroll, according to a technology blog.
