Greece is at a crossroads and will need to implement much stricter structural reforms than seen so far, IMF mission chief to Greece Poul Thomsen was quoted as saying by a German paper on Saturday.
France and Belgium are set to finalize the breakup Sunday of Dexia, the first bank to fall victim to the Eurozone sovereign debt crisis, with global credit risk exposure of 512 billion euros ($691 billion).
German Chancellor Angela Merkel will thrash out differences with French President Nicolas Sarkozy Sunday over how to use the Eurozone's financial firepower to counter a sovereign debt crisis threatening the global economy.
European banks may need more than 100 billion euros ($135 billion) to withstand the sovereign debt crisis, Ireland estimated on Saturday ahead of a meeting between German Chancellor Angela Merkel and French President Nicolas Sarkozy to work out how to recapitalize the lenders.
There is general agreement that European banks will need fresh capital well in excess of 100 billion euros ($133.8 billion) and it will likely come from a variety of sources, including the euro zone rescue fund, Ireland's finance minister said on Saturday.
Given the likelihood one of the biggest rivals of the iPhone 4S will be the Samsung Galaxy S2, it will be interesting to have a comparison of the features of the two competitors.
Two weeks into the Occupy Wall Street protests, one of America’s most respected polling firms released an astonishing survey on economic divisions showing that a majority of Americans don’t think their society is divided between haves and have-nots.
Germany and France were split ahead of crucial talks on Sunday over how to strengthen shaky European banks and fight financial market contagion to prepare for a possible Greek default.
Officials are conducting DNA tests to see if a Swiss couple is in fact the German “forest boy” Ray’s grandparents.
Facing the prospect of a deeper crisis in Europe, the International Monetary Fund is weighing whether it could expand its rescue lending capacity through debt issuance or bilateral borrowing.
The S&P 500 and Nasdaq fell on Friday as traders pocketed gains after encouraging U.S. economic data and on bets Europe will shore up its banking system.
Stocks were little changed on Friday following a three-day rally after more jobs were created than expected in September, helping to ease concerns the economy was heading back into recession.
Stocks were set to open higher on Friday, extending a three-day rally after more jobs were created than expected in September, helping to ease concerns the economy was heading back into recession.
Stock index futures eased on Friday after a three-day Wall Street rally and ahead of a closely watched monthly jobs report, which is expected to show moderate gains after last month's flat reading.
Sony Corp has secured financing from an Abu Dhabi investment fund to back its bid for British music company EMI, a media report said, an acquisition that would beef up its content catalogue as it struggles to compete with Apple .
Occupy Portland, the latest in the Occupy Wall Street movements sweeping the nation's cities, began this morning despite having no permit.
Charles Napier, 75, passed away Wednesday at Bakersfield Memorial Hospital near his home in California. The cause of death is unclear. The actor, recognized for his square, granite jaw and toothy grin, is best known for playing tough guys and military figures in movies.
Microsoft has released a trailer highlighting the perks of the Xbox's latest transformation from a games console into a full- fledged multimedia venture that's brings cable television to the 360 console.
The European Central Bank reinstated some of its most potent crisis-fighting tools on Thursday in response to intensifying euro zone troubles, but opted to keep interest rates at 1.5 percent despite some of the bank's policymakers calling for cuts.
Twelve years after German Chancellor Helmut Kohl pushed through the monetary union over the objections of a majority of his country's citizens, the bloc is crumbling under the burden of huge debts. And the one institution that Germans were told would ensure stability, the ECB, is in deep crisis itself. In the absence of decisive action from Europe's leaders, the bank has come under enormous pressure to fill the gap.
Gerhard Richter is one of the world's most prized living artists, and one of his famous Candle series is expected to fetch 6-9 million pounds ($9-14 million) at auction in London next week.
European stock index futures rose on Thursday, after short-covering and value-hunting lifted Asian shares on optimism that euro zone leaders are acting to aid the bloc's financial sector and U.S. data suggesting the economy could avoid recession.
