Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
Nestle echoed the cautious outlook for 2012 of other global food makers on Thursday as it said it was banking on new markets and products to put it ahead of the field after it posted forecast-beating 2011 sales growth.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the euro zone government debt crisis is spreading throughout the global financial system.
MADRID - The Spanish economy shrank for the first time in two years in the fourth quarter, the start of what economists fear could be a prolonged slump as Madrid implements harsh austerity measures to deflate a massive budget deficit.
Moody's warned on Thursday it may cut the credit ratings of 17 global and 114 European financial institutions in another sign the impact of the eurozone government debt crisis is spreading throughout the global financial system.
In country after country in Europe the so-called bitter pill approach has been wholeheartedly embraced as the only solution by both conservative and leftwing governments. Problem is, it's looking more and more likely that they're wrong: as a strategy, austerity has by and large failed.
Oil prices are up about 0.85 percent in New York trading.
China will continue to invest in euro zone government debt and it remains confident in the euro, the country's central bank governor said on Wednesday, while calling on Europeans to produce more attractive investment products for China.
Iran President President Mahmoud Ahmadinejad has already asserted that Iran will never halt its uranium enrichment program.
The euro zone economy's shrunk at the end of 2011 as the sovereign debt crisis crushed a recovery and looked set to push the bloc into mild recession, but a north-south divide was evident as France grew while Italy slumped.
Germany, Europe’s largest economy, saw that its gross domestic product fall 0.2 percent from the third quarter even as France grew 0.2 percent in the fourth quarter.
Entering the fifth year of recession, Greece is writing its name in the book of unwanted records for one of the deepest economic slumps of modern times.
The precious metals market followed Wall Street's skid today, as gold and companies that peddle it were driven down by underwhelming retail figures in the U.S., and ongoing concerns over Greece and the Eurozone.
The 17 member nations of the euro common currency union, dragged down by the flagging economies of Greece, Portugal, Spain and Ireland, saw factory activity decrease more than expected in December, the statistical office of the European Union announced Tuesday.
The yen fell on Tuesday as the Bank ofJapan eased monetary policy by expanding its asset-buying scheme, but the impact on the currency may prove short-lived while nagging worries over the euro zone crisis keep it supported as a safe haven.
The euro rose to a session high and shares reversed early losses after key German data bolstered hopes that Europe's largest economy was recovering and a strong Italian bond sale added to signs that financing pressures were being contained.
Output at factories in the euro zone tumbled in December, reflecting a sick European economy that probably shrank at the end of 2011 but it is hoped will recover this year.
Futures on major U.S. stock indices pared earlier losses and point to a slightly higher opening Tuesday ahead of of economic data including retail sales.
Gold prices followed crude oil and global stocks lower Tuesday after ratings firms cut the credit ratings of several European nations and banks and warned that more reductions were likely.
Rating agency Moody's warned on Monday it may cut the triple-A ratings of France, the United Kingdom and Austria, and it downgraded six other European nations including Italy, Spain and Portugal, citing growing risks from Europe's debt crisis.
The summit comes a day right after Moody's downgraded its ratings for Italy, Spain and Portugal, with a negative outlook for France, Britain and Austria.
