5 Classic Asset Bubbles That Should Make Bitcoin Buyers Beware
The value of digital crypto-currency Bitcoin has skyrocketed thanks to eurozone worries. But skeptics say its a bubble destined to pop, much like these five historic bubbles.
Cyprus
Could the U.S. Do Like Cyprus and Seize Bank Deposits?
Cyprus' attempt to raid insured bank accounts has left a bad taste in the mouths of people around the world, and led some to ask: Could it ever happen here in America?
Cyprus' President Appoints Judges to Investigate Economic Crash
Cyprus' president has appointed a panel of three former supreme court judges to investigate how the country ended up nearly bankrupt.
Eurozone Joblessness Rises to a Record 12%
Unemployment across the 17 European Union countries that use the euro has struck 12 percent for the first time since the currency was launched in 1999, official figures show.
Bank of Cyprus' Big Depositors to Lose Up to 60% of Savings
Big depositors at Cyprus' largest bank may be forced to accept losses of up to 60 percent, far more than initially estimated, as part of the country's bankruptcy rescue plan.
Cyprus' President Urges Cypriots to 'Share the Burden'
Cyprus' president called on the country to "share the burden" of solving its financial crisis Friday as banks opened for normal business for the second day.
As Cyprus' Woes Deepen, Interest in Bitcoin Soars
While Cypriots facing a national banking crisis are eager to get their hands on cold, hard cash, some European investors are betting on the virtual currency known as bitcoin.
S&P 500 Closes at a Record High, Beating '07 Mark
The S&P rose six points to 1,569, a gain of 0.4 percent, beating its previous record by four points. The index is still shy of its all-time trading high of 1,576.
Banks Reopen in Cyprus for First Time in Nearly 2 Weeks
Banks in Cyprus opened their doors on Thursday for the first time in almost two weeks, with tight controls on transactions to prevent a run on deposits.
Cyprus to Impose Limits on Bank Withdrawals, Boost Security
Cyprus will impose limits on money transfers and dispatch extra security guards to prepare for Thursday's reopening of the banks, which have been shut for almost two weeks.
Uncertainty Drives Down Confidence in Eurozone Economy
Confidence in the eurozone's economy worsened in March, falling after four straight months of gains and suggesting a hard route out of recession, fresh data show.
Bank Shutdown Hammers Cyprus' Businesses
Banks across Cyprus remain locked Tuesday after financial authorities extended the country's bank closure, fearing worried depositors will rush to drain their accounts.
Wall Street Ends Lower on Renewed Cyprus Worries
Stocks fell on Monday on renewed concerns about Cyprus and the euro zone, which wiped away earlier gains that drove the S&P 500 to less than a point away from its record close.
Cyprus Bailout Deal Approved by European Finance Officials
A deal reached early Monday prevents Cyprus' imminent financial meltdown by securing a last-minute $13 billion bailout.
Cyprus Deal Could Bring U.S. Market Rally
The last-ditch effort to save the banking system in Cyprus should bring a rally when U.S. stock markets open on Monday, according to several investment managers.