Finance

Europe ramps up rescue fund, may turn to IMF

Wed, 30 Nov 2011 06:30:00 -0500

Euro zone ministers agreed on Tuesday to ramp up the firepower of their rescue fund but couldn't say by how much and raised the possibility of asking the IMF for more help after Italy's borrowing costs hit a euro lifetime high of nearly 8 percent.

IMF resources adequate: Lagarde

Tue, 18 Oct 2011 14:58:00 -0400

IMF chief Christine Lagarde said Monday the fund had adequate resources to deal with the debt crisis affecting the world economy.

Italy, Spain Ratings Cut by Fitch; Belgium Is Put Under Review by Moody’s

Sat, 08 Oct 2011 12:47:00 -0400

Fitch Ratings downgraded Italy and Spain on concern they will struggle to improve their finances as Europe’s debt crisis intensifies, while Moody’s Investors Service put Belgium on review for a possible cut.

Moody’s Cuts Rating on 12 UK Financial Institutions

Sat, 08 Oct 2011 12:47:00 -0400

Moody’s ratings agency lowered the rating of 12 U.K. financial institutions on Friday, saying it sees a decreased likelihood of government support for smaller institutions in particular but specifying the move does not reflect a deterioration in the financial strength of the banking system.

World facing worst financial crisis in history, Bank of England Governor says

Fri, 07 Oct 2011 12:19:00 -0400

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night.

Christine Lagarde: IMF may need billions in extra funding

Mon, 26 Sep 2011 14:33:00 -0400

Christine Lagarde has signalled that the International Monetary Fund (IMF) may have to tap its members – including Britain – for billions of pounds of extra funding to stem the European debt crisis.

Standard and Poor's cuts Italy ratings one notch, outlook negative

Tue, 20 Sep 2011 13:51:00 -0400

Standard and Poor's downgraded its unsolicited ratings on Italy by one notch to A/A-1 and kept its outlook on negative, a major surprise that threatens to add to concerns of contagion in the debt-stressed euro zone.

US taxpayers could be on hook for Europe bailout

Sat, 17 Sep 2011 13:09:00 -0400

The U.S. is coming to Europe's financial rescue. So far, America's role is fairly limited. But if the crisis continues to grow and the U.S. takes on a wider role, U.S. consumers and taxpayers could feel a bigger impact. The biggest exposure could come from America's status as the single largest source of money for the International Monetary Fund.

Lagarde to give China senior IMF job: sources

Thu, 07 Jul 2011 17:06:00 -0400

China is close to clinching a top-level post at the International Monetary Fund, IMF sources said on Wednesday after the Fund's new chief pledged to give more power to emerging economies.

US Banks Warn Obama on Soaring Debt

Thu, 28 Apr 2011 16:39:00 -0400

A group of the largest US banks and fund managers stepped up the pressure on Congress and the Obama administration to reach a deal to increase the country’s debt limit, saying that even a short default could be devastating for the financial markets and economy.

Wall Street shares slump as S&P downgrades US debt outlook

Tue, 19 Apr 2011 17:57:00 -0400

Shares fell heavily on Wall Street on Monday after a leading ratings agency fanned fears of Europe's debt crisis spreading across the Atlantic by issuing a strong warning about America's failure to tackle its budget deficit.

World Bank president: 'One shock away from crisis'

Mon, 18 Apr 2011 16:51:00 -0400

The president of the World Bank has warned that the world is "one shock away from a full-blown crisis".

Banks Face $3.6 Trillion 'Wall' of Debt: IMF

Fri, 15 Apr 2011 17:36:00 -0400

The world's banks face a $3.6 trillion "wall of maturing debt" in the next two years and must compete with debt-laden governments to secure financing, the IMF warned on Wednesday.

Fed official: Big US banks are 'government-sponsored entities'

Wed, 13 Apr 2011 16:43:00 -0400

Big banks like Bank of America Corp and Citigroup Inc should be reclassified as government-sponsored entities and have their activities restricted, a senior Fed official said on Tuesday.

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak

Mon, 04 Apr 2011 17:03:00 -0400

U.S. Federal Reserve Chairman Ben S. Bernanke’s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

Wealthy Japan has means to recover: IMF

Fri, 18 Mar 2011 20:16:00 -0400

The International Monetary Fund said on Thursday that Japan has the financial means to recover from a devastating earthquake and ensuing massive tsunami.

Hacker Group Anonymous Releases Claimed Bank of America Emails

Tue, 15 Mar 2011 15:46:00 -0400

The loose-knit hacker collective known as "Anonymous" released emails early Monday that it obtained from a former employee of Bank of America Corp., accusing it of "fraud" and of improperly foreclosing on homes.

Geithner says lending cuts could hurt U.S. influence

Thu, 10 Mar 2011 15:24:00 -0500

U.S. Treasury Secretary Timothy Geithner urged lawmakers on Wednesday to approve capital increases for global lending institutions and warned that failure to do so could harm U.S. influence abroad.