Economic Crisis
Daily News and Updates

Saturday - June 30, 2012:

  1. Bailout terms changed for eurozone
  2. European leaders agree to closer long-term union
  3. 20 more banks were rigging interest rates
  4. Germany's unemployment rate increases

Friday - June 29, 2012:

  1. Italian Bond Auction Blow For Euro Ahead of EU Summit

Thursday - June 28, 2012:

  1. Merkel rebuffs pleas for debt action on summit eve
  2. Cyprus rescue package may equal half its economy
  3. Better-off families turn to discount supermarkets as middle classes feel the squeeze

Wednesday - June 27, 2012:

  1. Euro nations may cede budget power to EU
  2. Will Cameron offer Britain an EU referendum now that even Germany pledges one?
  3. Cyprus becomes fifth eurozone country to apply for Brussels bailout
  4. Bank bailout to spark firesale of corporate Spain
  5. Stockton, Calif. to take up bankruptcy budget plan
  6. Cameron floats proposed welfare changes
  7. CHINA: After factories and energy, Beijing opens up the health market

Tuesday - June 26, 2012:

  1. Banking union document being prepared for EU summit
  2. National deal paves way for German ratification of fiscal treaty
  3. Lenovo shares hit over 4-month low on concern over PC outlook

Monday - June 25, 2012:

  1. Schaeuble says no to throwing money at euro crisis
  2. Not only Greece

Sunday - June 24, 2012:

  1. Asian shares down after Moody's downgrades 15 banks
  2. Beijing gets Brasilia to accept currency swaps

Saturday - June 23, 2012:

  1. Procter & Gamble cuts 4Q profit, revenue outlook

Friday - June 22, 2012:

  1. 'U.S. Per Person Debt to Increase 7 Times Faster than Italian Debt'
  2. Credit Suisse Cut 3 Levels as Moody’s Downgrades Banks
  3. Chinese Manufacturing falls in June for the eighth consecutive month
  4. Mario Monti: we have a week to save the eurozone
  5. Abercrombie to close 180 US stores
  6. U.S. stocks suffer second worst day of 2012

Thursday - June 21, 2012:

  1. EU poised for $943B Spain, Italy bailout
  2. Fed ramps up economic stimulus, ready to do more
  3. Breakdown of new $267 billion Operation Twist plan
  4. Oil Falls After U.S. Supplies Climb to Most Since 1990
  5. UK unemployment benefit claims post unexpected rise

Wednesday - June 20, 2012:

  1. Germany set to allow eurozone bailout fund to buy troubled countries' debt
  2. G20 summit Barroso blames eurozone crisis on US banks
  3. Inflation fall puts pressure on Bank to cut interest rate
  4. Job Openings in U.S. Decrease by Most in Almost Four Years
  5. Millions of working families one push from penury, Guardian research finds
  6. Exclusive Half of teachers forced to feed pupils going hungry at home

Tuesday - June 19, 2012:

  1. Spain does not need full bail-out, commissioner says
  2. Spanish PM hints at more austerity
  3. Fairfax Media to cut 1,900 jobs in Australia Media
  4. US won't send checks to Europe Romney

Monday - June 18, 2012:

    Nothing to report this morning.

Sunday - June 17, 2012:

  1. Central banks prepare for turmoil after Greek vote
  2. World Bank warns that euro collapse could spark global crisis

Saturday - June 16, 2012:

  1. Central banks prepare for turmoil after Greek vote
  2. £140bn kiss of life for Britain?
  3. UK sounds alarm on banking union
  4. Your dithering Greek exit must stop now: Osborne warning to eurozone leaders
  5. Sir Mervyn's speech: 'I've never heard such apocalyptic talk'
  6. Factory output falls second time in three months

Friday - June 15, 2012:

  1. Data points to soft U.S. economy, possible Fed action
  2. Cyprus may seek up to €4bn bailout
  3. Spain borrowing costs add pressure to seek EU rescue funds
  4. Greek bank withdrawals accelerate
  5. World economies prepare for panic after Greek polls
  6. Nepal, government employees tax themselves to stop suicides among poor
  7. Dell Planning $2 Billion In Cuts
  8. Nokia starts to sink; 10,000 jobs cut

Thursday - June 14, 2012:

  1. IMF chief Christine Lagarde warns world risks triple crisis
  2. Merkel may sacrifice Greece to save euro, says Osborne
  3. China May Ease Lending Policy Soon – Paper
  4. Greeks Withdraw $1 Billion a Day Ahead of Vote
  5. EU discusses 'limiting ATM withdrawals'
  6. More jobseekers told to do unpaid work or face possible loss of benefits

Wednesday - June 13, 2012:

  1. Asian markets drop after euphoria over Spain cools and fears for Italy and Greece emerge

Tuesday - June 12, 2012:

  1. Market euphoria over Spanish bank bailout fizzles
  2. Spanish bonds lose ground Monday

Monday - June 11, 2012:

  1. Euro zone agrees to lend Spain up to $162b
  2. EU's Spain bank rescue may bring only brief respite
  3. Eurozone crisis banks bailout a victory for the euro, says Spanish PM

Sunday - June 10, 2012:

  1. Spain to get bank bailout that may run up to €100bn

Saturday - June 9, 2012:

  1. Merkel to push for European political union
  2. Moody's: Greek euro exit threatens currency's existence
  3. Spain bailout terms 'to be agreed within a week'
  4. US banks face $60bn capital shortfall

Friday - June 8, 2012:

  1. China surprises with interest rate cut
  2. Merkel says EU ready to act as Spain downgraded
  3. Spain's credit rating downgraded by Fitch as international bailout looms
  4. U.S. rating faces 2013 cut if no credible plan Fitch

Thursday - June 7, 2012:

  1. Cameron and Obama increase pressure on Merkel over eurozone crisis
  2. ECB maintains key interest rate at 1 percent
  3. Leaders plotting EU superstate: 'Fiscal union' looms... with the Germans in charge
  4. EU, Germany exploring Spanish rescue, no request yet
  5. Spain appeals for EU bail-out of struggling banks
  6. Spain Wants Bailout Without Calling It By Name

Wednesday - June 6, 2012:

  1. As China’s growth slows, its leaders face an impasse
  2. CBO: Federal debt to double in 15 years
  3. G7 to hold emergency euro zone talks, Spain top concern
  4. Greek euro exit would see GDP plunge by up to 50%
  5. Portugal to prop up three banks
  6. Merkel open to idea of European banking union
  7. Spain says markets closing on it, seeks help for banks
  8. N.J. revenue shortfall increases at least another $50M in May
  9. NEPAL: Foreign investment down by 39%. Nepal on the brink of economic collapse
  10. Qantas issues shock profit warning

Tuesday - June 5, 2012:

  1. EU officials working on eurozone plan
  2. Three months to save euro, says Soros
  3. Europe mulls major step toward fiscal union
  4. Eurozone unemployment stays at record 11 percent
  5. Spain Seeks Joint Bank Effort As Pressure Rises On Merkel
  6. Tokyo Hits 28-Year Low Amid Global Rout

Monday - June 4, 2012:

  1. 'Beware a rerun of the Great Panic of 2008'
  2. US close: Dow Jones has worst month in two years

Sunday - June 3, 2012:

  1. Economy is worse than you think
  2. Moody's Downgrades Greece's Country Ceiling on Exit Risk

Saturday - June 2, 2012:

  1. ECB, EU officials warn euro's survival at risk
  2. Eurozone jobless rate hits record 11%
  3. China factory surveys signal wider economic weakness
  4. Job growth trips again, opens door to more Fed moves
  5. Time Bomb Banks Pressured to Buy Government Debt
  6. US jobs slump and euro fears send global markets into tailspin

Friday - June 1, 2012:

  1. Draghi Warns Politicians to Act Fast to Save Euro Zone
  2. EU commission calls for 'banking union'
  3. Ratings on nine Danish bank downgraded
  4. China factory surveys signal wider economic weakness
  5. China Lets Currency Weaken, Risking New Trade Tensions
  6. Investors flee Spain as financial crisis spirals

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