Gold prices fell 1.4 percent Monday as the bankruptcy of a broker-dealer heavily invested in European sovereign debt drove investors to the safety of the dollar.
The bankruptcy of New York-based MF Global Holdings brought the European debt crisis to New York, wiping out a respected firm and tarnishing the reputation of a former Goldman Sachs CEO.
In early April, Jon Corzine was in a tough spot. MF Global, the company he had run for the previous year, was about to post a fourth-quarter loss, marking its fourth successive fiscal year of red ink.
Ask senior European Union policymakers in private what can stop the euro zone's festering sovereign debt crisis and the answer is the European Central Bank.
Confidence was highest in India for a seventh straight quarter but India's reading fell 5 points from the second quarter and Saudi Arabia was catching up.
Spain and Portugal said on Saturday the euro zone's debt crisis is a global problem, calling on the United States and other G20 powers to help contain the fallout.
Portugal asked Mexico on Saturday to tell fellow G20 members next week that the United States should offer financial help to resolve the euro zone sovereign debt crisis, describing it as a systemic and global problem, a Portuguese government source said.
Shares of MF Global Holdings Ltd hit another all-time low and bonds were in freefall on Friday as troubles intensified for the U.S. futures brokerage that is looking to sell off units in order to retain customers, and to survive.
Exchanges in London and Singapore said it was business as usual on their bourses for futures broker MF Global Holdings Ltd on Friday, after two rating agencies downgraded its debt to junk status.
If one buys into reactions of global markets, including the New York Stock Exchange and Dow Jones Industrials Average, they could go to sleep at night with little concern that the Eurozone financial crisis is a ticking time bomb, just waiting to explode with global implications that ripple back to the U.S.
Sarkozy compared Greece’s problems to Lehman Brothers collapse in 2008.
The head of Europe's bailout fund sought financial support from China on Friday to help resolve the bloc's debt crisis, saying that while no quick deal was in sight he was still confident Beijing would keep buying bonds issued by his fund.
The head of Europe's 440 billion euro bailout fund played down hopes of a quick deal with China to throw its support behind efforts to resolve the bloc's debt crisis but said he expects Beijing to continue to buy bonds issued by the fund.
The head of Europe's bailout fund said Friday he does not expect to reach a conclusive deal with Chinese leaders during a visit to Beijing but expects the surplus-rich country to continue buying bonds issued by the fund.
The head of Europe's bailout fund said Friday he does not expect to reach a conclusive deal with Chinese leaders during a visit to Beijing but expects the surplus-rich country to continue buying bonds issued by the fund.
In 14 lines engraved on a plaque on the pedestal of the Statue of Liberty, Emma Lazarus (1849-1887) captured the belief in the American Dream that has defined the United States' self-image for more than a century and moved millions of immigrants to seek refuge here.
Euro zone leaders struck a last-minute deal to limit the damage from the currency bloc's debt crisis early on Thursday but are still far from finalizing plans to slash Greece's debt burden and strengthen their rescue fund.
There is no historical precedent for economies as indebted as the EU and U.S. to avoid default, said Gerard Minack, chief market strategist at Morgan Stanley’s Sydney office.
Europe's banks were told to cut dividends and bonuses to help them find 106 billion euros ($146 billion) to shore up their capital, and agreed to halve the value of their Greek government debt.
Euro zone leaders intend to scale up their emergency fund, the European Financial Stability Facility, to around 1.0 trillion euros (871 billion pounds), EU sources said on Wednesday.
There has been a preliminary agreement to recapitalize European banks.
Developing Asian economies have outperformed G3 (U.S., EU, and Japan) economies by an average of five percentage points from 2000 to 2006, according to Western Asset, a leading global fixed-income manager.
