Browsing All Posts By Kurt Osterberg
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Markets volatile amid Italian downgrade
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... -
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Credit Suisse in tax deal with German prosecutors
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... -
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RIM profits collapse; India controls inflation
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 ... -
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Moody’s cuts SocGen and Credit Agricole
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’... -
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BNP Paribas drags European shares down
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 credi... -
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UK banks hit with reforms
The Independent Commission on Banking published its final report on Monday proposing that Britain’s banks need to “ring-fence” by disconnecting their retail operations from the riskier investmen... -
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Obama to speak out; Republicans rage
Markets remained stable on Thursday as investors await President Obama’s speech on job proposals detailing plans of boosting employment before a joint session of Congress. President Obama is said to... -
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Saab files for bankruptcy protection
Swedish car manufacturer Saab on Wednesday filed for bankruptcy protection from creditors amid mounting debt and production stoppages in a last minute attempt to save the brand. The filing at the Swed... -
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Labor Day welcomes volatility amid growth fears
European and Asian stocks slumped on Labor Day after US growth fears hit the markets late on Friday following weak employment data that showed the US economy had added no jobs at all in August. Stocks... -
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Lawsuits over mortgage debt rattle bank shares
European banking shares on Friday dropped sharply in anticipation of US jobs data and a published report that the Federal Housing Finance agency is planning to file a lawsuit against “more than a do...
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China suspected in massive breach of federal personnel data
