The Euro system of central banks has decided to intervene decisively on markets to respond to the escalating debt crisis, a euro zone monetary source said after a European Central Bank conference call on Sunday.
Standard & Poor's took the unprecedented step of downgrading the U.S. government's "AAA" sovereign credit rating Friday in a move that could send shock waves through global. The following is a press release from Standard & Poor's:
The European Central Bank will decide whether to buy Italian government bonds to try to stem the euro zone's debt crisis from widening in a crucial conference call on Sunday evening (one p.m. EDT), ECB sources said.
Doubts are growing in the German government that Italy could be rescued by the European emergency fund, even if the fund were to be tripled in size, according to the German newsmagazine Der Spiegel.
The United States lost its top-tier AAA credit rating from Standard & Poor's on Friday, a move that will affect the country's borrowing costs and investor opinion of U.S. assets. Here is a Q+A on what the downgrade means for investors, consumers and to the country.
U.N. Secretary General Ban Ki-moon has urged Syrian President Bashar al-Assad to stop the use of force against civilians "immediately".
Rating agency standard & Poor's has staunchly defended the decision to downgrade the creditworthiness of the U.S. government and warned that further action was possible. "The debacle over the debt ceiling continued until almost the midnight hour," S&P's Sovereign Ratings Committee Chairman John Chambers said.
Evil hackers with state-of-the-art computers gain remote control of a power plant and blow it up, killing many people and threatening more mayhem if a huge ransom is not paid.
Activists said the death toll in protests across Syria a day earlier, when tens of thousands of demonstrators took to the streets on the first Friday of the Muslim holy month of Ramadan, had risen to 26.
?We have total confidence in the solidity of the American economy,? Baroin told French radio.
British former world champion Helen Jenkins raced to an impressive victory in the London leg of the triathlon world championship series Saturday to put her in great heart for next year's Olympic race on the same Hyde Park course.
The U.S. lost its AAA credit rating from Standard and Poor's for the first time in history, dealing a symbolic blow to the world's economic superpower. The impact of this downgrade is a matter of speculation.
Sky-watchers and astronomers witnessed a spectacular display of natural lights on Friday caused by the strong solar flare that occurred on Aug 2, 2011.
Fabregas has appeared in 212 games for Arsenal and has managed to find the back of the net 35 times.
Four-times winner Tiger Woods has been drawn to play alongside former champions Padraig Harrington and Davis Love III in the first two rounds of next week's PGA Championship, organizers announced on Friday.
A series of solar flares that erupted on the Sun over the last three days have crossed the solar system and hit the Earth's magnetic field on Friday afternoon.
The new coach makes his debut with the U.S. team.
Investors scrambling for cover during the U.S. deficit and debt ceiling talks and Europe's ongoing sovereign debt crisis sold stock funds and bought emerging market debt and commodities, data from EPFR showed on Friday.
Prime Minister Silvio Berlusconi pledged on Friday to bring forward austerity measures and bring Italy's budget into balance by 2013, a year ahead of the original plan, in a bid to stem rising turmoil on world markets.
The attacks ? the only time nuclear weapons have ever been used in world history to date ? killed tens of thousands of people and shocked the planet with the scale of their destruction.
Up to now, the dispensers of global financial justice -- the bond vigilantes -- have given the United States a free ride regarding its large budget deficit and national debt. But history say that can't last forever, which is why it's in the nation's long-term interest to enact the second half of budget cuts called for in the U.S. debt deal.
The message from this week's market rout is crystal-clear: investors have lost confidence in their politicians, who urgently need to do something dramatic to reduce risks to the global economy.
