Relief coupled with apprehension were the emotions that dominated on Thursday following the Euro-zone agreement reached after tough negotiations that lasted into the early hours of the morning. Markets reacted favourably registering a rise of up to five per cent and stocks of French and German banks (which hold a major part of the Greek […]

On the heels of the Eurozone debt — European leaders’ decision to increase their bailout fund to €1 trillion or $1.4 trillion and encourage banks owning Greek debt to accept at 50 percent loss (“haircut”), investor attention turns to the U.S. Federal Reserve’s next move: is a stand-pat stance likely or is quantitative easing, part […]

French President Nicolas Sarkozy conferred with his Chinese counterpart Hu Jintao as European policy makers seek to build support for an enlarged rescue fund designed to resolve the region’s sovereign-debt crisis. Hu hopes that the measures will help to stabilize markets, state-owned China Central Television reported. The phone call between the leaders came hours after […]

Study: Overpumping Draws Down the World’s Groundwater Reserves Groundwater depletion doubled between 1960 and 2000. Much of the global groundwater pumped out of aquifers for household use and irrigation ends up in the world’s oceans, depleting the aquifers faster than they can be replenished, a new study published in Geophysical Research Letters shows. The study […]

By  Matt Taibbi | Rolling Stone.com Nov 10, 2010 2:35 PM EST Courts Helping Banks Screw Over Homeowners The foreclosure lawyers down in Jacksonville had warned me, but I was skeptical. They told me the state of Florida had created a special super-high-speed housing court with a specific mandate to rubber-stamp the legally dicey foreclosures […]

Ireland Races to Secure Weekend Aid Deal Amid Bank Concern Ireland is in the final stages of negotiating an international bailout for its banks before markets open on Monday as workers march to protest budget cuts. Euro region finance ministers may seal an agreement with Ireland tomorrow at a meeting slated to start at 1 […]