European stocks decreased in early trading Wednesday as markets await Troika’s evaluation on Greece’s progress in reducing its debt levels. The ECB, EU and IMF, collectively known as Troika, hold the key to discharging the next tranche of the bailout money, a sum of €8bn from a total of €109bn, to Greece. Optimism about a…
Stocks across the board rose in early trading Tuesday as markets remained hopeful that discussions between German chancellor Angela Merkel and Greek prime minister George Papandreou will resolve Greece’s bailout and avert default. In Europe the FTSE 100 index climbed 2.28 percent to 5,205.38, the Stoxx Europe increased by 2.31 percent to 225.37, the German…
Over the last several months, many of my clients have been asking me if Las Vegas home prices are heading for a “double dip” as the recession continues to drag on. I don’t know if I would call it a “double dip” since I definitely don’t predict that home prices will experience any further drastic…
European stocks remain fairly steady while Asian markets traded higher on Wednesday ahead of a Federal Reserve policy meeting. Europe recuperated the ground it lost on Tuesday following an Italian credit rating downgrade after news emerged that Greece is “making good progress” in reaching a deal regarding the next tranche of €8bn as part of…
The euro decreased sharply on Tuesday against the dollar to $1.3599 following Italy’s debt rating cut by Standard & Poor’s late on Monday. S&P cut Italy’s credit rating by one notch to A from A+ with a negative outlook. The downgrade by the ratings agency comes amid worries that a “fragile governing coalition” and “weakening…
Credit Suisse said on Monday it has agreed an out of court settlement of €150m with the Public Prosecutor’s Office in Germany to end an investigation into its employees concerning tax evasion. The payment will be taken as a charge in the 3Q11. Switzerland’s second largest bank said in a statement: “The entire proceedings are…
Canadian BlackBerry maker, Research in Motion, saw its share plummet almost 20 percent Friday after it announced it had missed its earnings target for the third consecutive quarter. Profits decreased sharply by 47 percent for 2Q11 to $497m from $797m year-on-year, while revenue dropped by ten percent to $4.17bn in the three months to August…
France’s second and third largest banks by assets – Credit Agricole and Société Générale – on Wednesday saw their credit ratings downgraded one notch by Moody’s Investors Service. Moody’s slashed Credit Agricole to Aa2 from Aa1 while Société Générale was reduced to Aa3 from Aa2 with a negative outlook for long-term debt and deposit ratings….
It’s funny and a bit ironic to think that to improve your credit rating, you actually need to take out some new credit in the first place. The principle behind this is relatively simple; if you’ve missed payments or defaulted on loan sums in the past then lenders will look at your credit profile and…
Shares in BNP Paribas on Tuesday plummeted nine percent to €23.63 after a drop of 12 percent in an earlier session. The decrease followed allegations that the lender could be facing a possible credit rating downgrade. Several French banks remain under pressure by markets amid worries over Greek debt exposure. Stocks had opened higher in…
