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?
Greece
Behind Cyprus' Plan to Seize Bank Deposits
A plan to seize up to 10 percent of Cypriot's savings has been met with fury and raised concern, if not panic, in the rest of Europe about the security of bank deposits.
The Savvy Grown-Up's Guide to Spring Break on a Budget
College students aren't the only ones heading south for spring break. Couples and families of all ages want to escape the winter blues too, preferably with a great deal. Here's how to beat the crowds and find the least expensive, most relaxing vacations available.
Stocks Close Higher as Hope Rises for a Fiscal Cliff Deal
Stocks gained on signs that lawmakers are edging toward a deal that would help the U.S. avoid the "fiscal cliff." Indexes shrugged off an early loss and rose in afternoon trading Wednesday. The Dow closed up 106.98 points at 12,985.11. It had been down as much as 112 points in early trading.
Stock Markets Bounce Back as Hopes Rise for a Fiscal Cliff Deal
Hopes that President Barack Obama and U.S. lawmakers will be able to avoid a budget crisis helped world stock markets recover from earlier losses on Wednesday. European stock indexes, which were trading lower all day, closed higher, and the Dow and S&P rose.
Markets Nervous as Eurozone Finance Ministers Meet on Greece
Concerns that European finance ministers will again fail to reach an agreement on handing over more bailout cash to Greece weighed on markets Monday. In addition, an election in Spain's Catalonia region that saw separatists gain ground is also adding to global investor worries.
Syria Is Burning, but Still a Better Place to Invest Than Greece
Syria's ongoing civil war has claimed more than 28,000 lives, left 1.5 million people homeless, and sent 500,000 Syrians into exile. But as far as CFOs are concerned, it's still a better place for foreign investment than debt-battered, austerity-riven Greece.
Don't Fear a Moody's Downgrade - Fear a China Slowdown
Credit rating agency Moody's is threatening to downgrade U.S. debt if Washington doesn't get its act together soon -- which could (perhaps) increase the government's borrowing costs. That would be troublesome, but the really scary U.S. debt problem is China's economic slowdown.
Offshored Trillions: The Hidden Economy That's Robbing the World
Tax havens are big news in the U.S., but a recent study shows that, when it comes to offshoring cash to dodge taxes, Americans are amateurs. Globally, tax havens are used to hide an estimated $21 trillion, more than the entire U.S. GDP.
Europe Teeters on the Edge of Recession
Europe is edging closer to recession, dragged down by the crippling debt problems of the 17-country eurozone, official figures showed Tuesday: The economies of both the eurozone and the full EU shrank by 0.2% in the second quarter, after a flat first quarter.
Greek Debt Crisis Fix May Cost Central Banks up to 100 Billion Euros
European policymakers are working on "last chance" options to bring Greece's debts down and keep it in the euro zone, with the ECB and national central banks looking at taking significant losses on the value of their bond holdings, officials said.
Double-Dip Recession Hits Eurozone as Crisis Clouds Swirl
The eurozone has sunk back into its second recession since 2009, a Reuters poll predicted on Thursday, as the debt crisis that has ravaged the continent for over two years continues to stifle growth.
Role Reversal: Ratings Agencies to Face Review from the E.U.
The European Securities and Markets Authority has begun reviewing how Standard & Poor's, Fitch, and Moody's Investors Service evaluate banks, and if the big three ratings agencies aren't shaking in their boots, maybe they should be.
European Central Bank Cuts Rates to New Low to Help Economy
The European Central Bank has cut its key interest rate by a quarter percentage point to a record low of 0.75% to boost a eurozone economy weighed down by the continent's crisis over too much government debt.
Eurozone Unemployment Hits New Record High
Unemployment in the 17-country euro currency bloc hit another record high in May -- 11.1% -- as the crippling financial crisis pushed the continent toward the brink of recession, official figures showed Monday.
Stock Market Cuts Its Losses with a Late Rally
A late recovery on Wall Street wiped out most of the stock market's losses Thursday, leaving the Dow Jones industrial average down just 25 points. The Dow had been down as much as 177 points but came back sharply at the end of the day.
Are Bitcoins Becoming Europe's New Safe Haven Currency?
With the woes of Greece, Spain and Italy still punishing the euro, a lot of Europeans are shifting assets into Bitcoins, a freely convertible currency that's free of government interference. Could the eurozone crisis bring this digital money into the mainstream?
Oil Prices Hit 8-Month Low as Spain Optimism Fade
The price of oil hovered above $82 a barrel Tuesday after touching an eight-month low near $81 earlier in the session amid concern Spain's bank bailout won't be enough to stem Europe's debt crisis and suggestions OPEC could boost production targets.
Stock Markets to Eurozone: Darn it, You're Ruining Everything
That giant sucking sound you hear is money -- lots of it -- fleeing global stock markets for the safe havens of the U.S., German, and U.K. sovereign bond markets. It's fear talking -- fear of intensifying crisis in the eurozone.
U.S. Employers Added Just 69,000 Jobs in May, Fewest in a Year
U.S. employers created only 69,000 jobs in May, the fewest in a year, and the unemployment rate ticked up. The dismal jobs data will fan fears that the economy is sputtering. But it could lead the Fed to take further steps to help it.
Get Ready, America: The Debt Ceiling Debate Is Back
The U.S. is again closing in on its debt limit, and if a recent statement by Republican Speaker of the House John Boehner is any indication, another fight with the Obama administration over the issue is ahead. Here's a preview of what we might expect.
China's Economic Slowdown Foreshadows Trouble for the U.S.
China's economy, the turbocharged engine of world growth, is starting to sputter. From a competitive standpoint, that may feel like good news, but what happens in Beijing doesn't stay in Beijing: The U.S. economy is inextricably linked to China's.
Oil Dips Below $95 Amid China Growth Concerns, Greek Turmoil
Oil prices fell below $95 a barrel Monday in Asia amid investor concern that China's economy, the world's second-largest, is slowing faster than previously expected.
Economically, What Happens in Europe Doesn't Stay in Europe
Sunday's elections in France and Greece were a firm vote against austerity, and regardless of the merits of either side of the debate, that means the future of the eurozone is again in doubt. Here's why the bond markets care so much -- and why you should, too.
U.S. Stock Futures Fall After European Voters Reject Austerity
The roiling political landscape of Europe pushed U.S. stock futures lower Monday as beleaguered voters in Greece and France rejected years of painful budget cuts. The Dow fell 46 points to 12,911. The S&P 500 slipped 5.7 points to 1,356.80. The Nasdaq fell 12 points to 2,613.50.
Spain Is Struggling With Its Debt, and You Should Be Worried
Rising Spanish bond yields: If you've heard those four words in the news recently, you may not have paid much attention. But that phrase foretells a potential crisis that could swamp America's fragile economic recovery.
How You Can Still Benefit From the Greek Debt Crisis
Greece isn't going to rebound anytime soon, and Europe about to rapidly propel itself out of its mild recession either. But obsession with the Mediterranean's economic basket case has caused many investors to miss strong overseas gains. Here are three companies leading the charge.
A 'Safe' Way to Lose Money: Why Not to Buy Bonds Now
About a month ago, the Germany government sold $5 billion worth of Eurobonds that paid an average interest rate of -- get this -- negative 0.0122%. That's right: These bonds are guaranteed to lose value. So why did they sell? In a word, it's all about risk.
Cautious Investors Stay Focused on Europe's Woes
Stock markets in Europe traded in fairly narrow ranges Monday as Germany's leader warned that Greece may not get its next batch of bailout cash. Chinese shares surged after authorities pledged to increase bank lending to entrepreneurs. Europe's stumbling efforts to get a handle on its debt crisis remains the focus of interest in the markets.