Economy Greek Prime Minister Alexis Tsipras seems to have contained a rebellion in his left-wing Syriza party after winning parliamentary approval for a second package of reforms required to start bailout talks with international creditors. The bill covered rules for … Continue reading
Economy Disappointment over U.S. corporate earnings pushed stocks lower on Wednesday, after a whole host of companies’ results fell short of Wall Street’s expectations. Dim outlooks and guidance were seen at Apple (NASDAQ:AAPL), IBM (NYSE:IBM), Microsoft (NASDAQ:MSFT), Yahoo (NASDAQ:YHOO) and … Continue reading
Economy Gold and other precious metals continued to trade close to their lowest level in five years today amid rising expectations for a U.S. interest rate increase that has boosted the dollar. The strong currency makes raw materials less affordable … Continue reading
Economy Slowly bringing its debt crisis to a close, Greece has initiated the process for a total payment of €6.25B to the ECB and IMF, and will repay a €500M loan to its central bank. As Athens blew past multiple … Continue reading
Economy German lawmakers are expected to give Berlin the green light today for negotiations on a third multi-billion euro bailout for Greece, despite Finance Minister Wolfgang Schaeuble questioning whether it will succeed. Yesterday, the ECB increased emergency funding to keep … Continue reading
Economy Market participants are awaiting day two of Fed Chair Janet Yellen’s testimony in Washington, where she will report to the Senate Banking Committee. On Wednesday, Yellen reiterated that interest rates are likely to rise this year and resisted calls … Continue reading
Economy Congressional testimony by Federal Reserve Chair Janet Yellen gets underway at 10:00 this morning, with investors closely monitoring the hearing for hints of a U.S. interest rate hike, especially following yesterday’s disappointing U.S. retail sales. The biannual appearances are … Continue reading
Economy Sending oil prices lower, Iran and major world powers have sealed a historic nuclear accord after more than two weeks of negotiating in Vienna. The deal will curb Tehran’s nuclear program in return for an easing of sanctions, enabling … Continue reading
Economy The eurozone and Greece have agreed in principle to a third bailout that will keep the beleaguered country in the currency area, for now, after almost total capitulation from Prime Minister Alexis Tsipras. Greece will have to put €50B … Continue reading
Economy Greek Prime Minister Alexis Tsipras appears to have offered to meet most creditor demands in exchange for a new €53.5B bailout, after submitting an 11th-hour proposal to get fresh funds and avoid bankruptcy. Stocks across the globe are all … Continue reading