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Tuesday, May 22, 2012 - 12:43pm
3 Themes to Watch at Tomorrow's European Commission Meeting
Tomorrow is the informal meeting of the European Commission and the European heads of state, which is a meeting to help set the agenda and decide on exactly what they will sign at the formal meeting in June. There will be lots of headlines and quoting of every person there, but I think that there...
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Thursday, May 3, 2012 - 9:57am
ECB Does Not Change Rates; Did Not Discuss Cuts
The ECB did not change its rates earlier today, consistent with investor expectations. Both Spain and France had strong demand for bond auctions today. Spain's yield was nearly 5% on its longest term offering, a significant increase. With ECB rates holding steady at a record low 1%, today's...
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Monday, April 2, 2012 - 11:07am
El-Erian: Emerging Economies to Resist US, European "Second Bests"
PIMCO's CEO and co-CIO Mohamed El-Erian has sounded bells on what he believes are fundamental compromises that could thwart progress on the continued world crisis. In an article appearing on Project-Syndicate.org, Dr. El-Erian refers to two areas where the United States and Europe may be colluding...
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Wednesday, February 29, 2012 - 4:07pm
General Motors and Peugeot Announce Deal to Save $2 Billion Annually
General Motors (NYSE: GM) and French car maker PSA Peugeot Citroen have announced a deal that the two companies say will lead to about $2 billion in annual savings split nearly equally between the two. General Motors and Peugeot said that they will combine their efforts in research and development...
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Wednesday, February 29, 2012 - 9:18am
European Central Bank Loans Euro Banks $712 Billion
The European Central Bank provided euro zone area banks with another 530 billion euros ($712 Billion) in cheap loans on Wednesday. The European Central Bank (ECB) hopes that the low interest loans that it gave to 800 euro zone banks will give the euro zone economies a boost and lower the borrowing...
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Wednesday, February 22, 2012 - 9:21am
Euro Zone Economies Shrink Unexpectedly in February
The euro zone unexpectedly shrank in February, adding to fears that Europe might be about to fall back in to recession. The latest survey results from Markit Economics' purchasing managers' index (PMI) showed that the index fell back to 49.7 in February, down from 50.4 in January. The results are...
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Thursday, February 16, 2012 - 12:33pm
Spain and France's Bond Auctions Not As Successful As Reported
Despite getting bad publicity from Moody's Investors Service recently, France and Spain both conducted bond auctions on Thursday that the two countries deemed successful. Earlier this week Spain was downgraded and France was put on downgrade watch by Moody's but the two Eurozone countries managed...
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Wednesday, February 15, 2012 - 8:19am
French and German Economies Perform Better Than Expected
For once there was good news coming out of Europe when France and Germany reported better than expected fourth quarter economic results. Although Germany's economy shrank by 0.2 percent, it was less than the 0.3 percent contraction that was widely expected. Germany also had its third quarter...
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Tuesday, February 14, 2012 - 7:39am
Moody's Downgrades Multiple EU Countries, Warns UK and France
Stock prices across Europe fell during early Tuesday trading after Moody's Investors Service downgraded the credit ratings of several European Union countries. Moody's downgraded the credit ratings of Italy, Malta, Portugal, Slovakia and Spain and gave each of them a negative outlook as well. The...
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Friday, January 13, 2012 - 2:57pm
Euro Plunges. Should You Go Long?
Friday the thirteenth lived up to its ominous reputation as far as the Euro is concerned. The common currency of a union long haunted by financial inviability hit lows not seen in 17 months today driven by S&P sovereign downgrade rumors and halted talks on Greek debt. To a lesser extent,...
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