http://www.mail.com/subjects/1380-financial-crisis.html Mail.com - the best personalized free web-based Email en en http://sec-s.uicdn.com/mail.com/2.20/img/mailcom_logo_rss.png http://www.mail.com/subjects/1380-financial-crisis.html http://www.mail.com/business/markets/1765160-europe-takes-step-toward-stable-banks.html FRANKFURT, Germany (AP) — The European Union has taken its big first step toward keeping busted banks from costing taxpayers billions and dragging down government finances. After another marathon meeting, finance ministers from the 27 EU member countries agreed Thursday to give the European Central Bank the power to act as a banking watchdog for the 17 EU... Thu, 13 Dec 2012 20:27:00 GMT http://www.mail.com/business/markets/1765160-europe-takes-step-toward-stable-banks.html 2012-12-13T20:27:00Z http://www.mail.com/business/economy/1763806-german-real-estate-booms-people-seek-security.html BERLIN (AP) — Buying a home in Berlin is widely viewed as one of the safest investments a German, or any European, can make. That is why some real-estate experts are worried the market could get overheated. Home prices in Germany's largest cities are booming. Building permits and home ownership rates are climbing fast. And the percentage of foreigners sna... Thu, 13 Dec 2012 17:12:00 GMT http://www.mail.com/business/economy/1763806-german-real-estate-booms-people-seek-security.html 2012-12-13T17:12:00Z http://www.mail.com/business/economy/1764648-financial-crisis-explained-to-queen-elizabeth-ii.html LONDON (AP) — In 2008, Queen Elizabeth II asked academics why no one saw the financial crisis coming. On Thursday, she finally got an answer. Sujit Kapadia from the Bank of England's Financial Services Committee gave the queen three reasons as she visited the central bank in London. He told her that financial crises are like earthquakes — rare and difficu... Thu, 13 Dec 2012 16:32:00 GMT http://www.mail.com/business/economy/1764648-financial-crisis-explained-to-queen-elizabeth-ii.html 2012-12-13T16:32:00Z http://www.mail.com/business/economy/1763892-top-central-banks-extend-dollar-lending-program.html FRANKFURT, Germany (AP) — Major central banks acted Thursday to try to shore up confidence in the global financial system by extending a program that makes it easier for banks to borrow U.S. dollars. Thursday's move renews for a year a program that was expanded in November 2011 in response to Europe's debt crisis. It had been set to expire in February. Th... Thu, 13 Dec 2012 16:26:00 GMT http://www.mail.com/business/economy/1763892-top-central-banks-extend-dollar-lending-program.html 2012-12-13T16:26:00Z http://www.mail.com/business/markets/1764616-glance-eus-key-decisions-2012.html In a whirlwind of decision-making, ministers from the European Union's 27 countries agreed Thursday on the foundation of a fully-fledged banking union and approved billions of euros in bailout loans for Greece that will prevent it from going bankrupt. Both decisions are vital in bringing calm to crisis-hit Europe and strengthening the region against any further financial sho... Thu, 13 Dec 2012 16:15:00 GMT http://www.mail.com/business/markets/1764616-glance-eus-key-decisions-2012.html 2012-12-13T16:15:00Z http://www.mail.com/business/economy/1760584-eu-backs-banking-supervisor-greece-bailout.html BRUSSELS (AP) — In one whirlwind morning, the European Union nations agreed Thursday to two key measures vital to the financial security of the region. As well as laying the groundwork for a full-fledged banking union, Greece's euro partners approved billions in bailout loans that will prevent the country from going bankrupt. The measures, approved by Eur... Thu, 13 Dec 2012 16:08:00 GMT http://www.mail.com/business/economy/1760584-eu-backs-banking-supervisor-greece-bailout.html 2012-12-13T16:08:00Z http://www.mail.com/business/markets/1764522-integration-ideas-eu-leaders-mulling.html European Union leaders, seeking to avoid a repeat of the crisis that has dogged the 27-country bloc for the past three years, are debating plans for an unprecedented shift of national financial policy powers to the EU. Here are the main points they are discussing: — The broad terms of a banking union: This will provide a single rulebook for banks and set ... Thu, 13 Dec 2012 16:01:00 GMT http://www.mail.com/business/markets/1764522-integration-ideas-eu-leaders-mulling.html 2012-12-13T16:01:00Z http://www.mail.com/business/economy/1763578-us-airlines-to-lead-industry-recovery-profits.html GENEVA (AP) — U.S. airlines will lead a recovery in the global sector's profits next year, mainly thanks to cost cuts and restructuring measures taken to address weak economic growth, the industry's trade group forecast Thursday. Carriers in Asia, the Middle East and Latin America will also enjoy an improvement in earnings, while those in Europe are expec... Thu, 13 Dec 2012 13:25:00 GMT http://www.mail.com/business/economy/1763578-us-airlines-to-lead-industry-recovery-profits.html 2012-12-13T13:25:00Z http://www.mail.com/business/economy/1763594-spain-sees-cost-borrowing-fall-auctions.html MADRID (AP) — Spain has seen the interest rate it has to pay to get investors to buy its benchmark bond fall in an auction that signals rising confidence in the government's management of its finances. The Treasury sold €802 million ($1.05 billion) of its key 10-year bonds Thursday with the rate dropping to 4.2 percent from 4.47 percent in the last such a... Thu, 13 Dec 2012 10:22:00 GMT http://www.mail.com/business/economy/1763594-spain-sees-cost-borrowing-fall-auctions.html 2012-12-13T10:22:00Z http://www.mail.com/business/economy/1761584-fed-links-interest-rates-to-65-pct-unemployment.html WASHINGTON (AP) — The Federal Reserve said Wednesday that it plans to keep interest rates ultra-low even after unemployment falls close to a normal level — which it thinks could take three more years. For the first time, the Fed made clear to investors and consumers that it will link its actions to specific economic markers. As long as inflation remains t... Wed, 12 Dec 2012 23:50:00 GMT http://www.mail.com/business/economy/1761584-fed-links-interest-rates-to-65-pct-unemployment.html 2012-12-12T23:50:00Z http://www.mail.com/business/markets/1762234-egypt-political-crisis-threatens-to-worsen-economy.html CAIRO (AP) — Egypt's political crisis is threatening to plunge its ailing economy even deeper into distress after the government delayed a request for a $4.8 billion loan from the International Monetary Fund that would have eased a ballooning budget deficit and reassured foreign investors. Fear of stoking the street unrest over a disputed Islamist-oriente... Wed, 12 Dec 2012 19:45:00 GMT http://www.mail.com/business/markets/1762234-egypt-political-crisis-threatens-to-worsen-economy.html 2012-12-12T19:45:00Z http://www.mail.com/business/economy/1760632-italy-raises-money-lower-rates-despite-upheaval.html ROME (AP) — Italy successfully sold €6.5 billion ($8.45 billion) in bonds the country's first debt auction since the country's Prime Minister Mario Monti announced his decision to resign. The Italian Treasury reported that the interest rate on the bonds was 1.46 percent, down from the 1.76 percent paid in the last such offer in November. Demand was nearly... Wed, 12 Dec 2012 18:08:00 GMT http://www.mail.com/business/economy/1760632-italy-raises-money-lower-rates-despite-upheaval.html 2012-12-12T18:08:00Z http://www.mail.com/business/economy/1761496-opec-output-target-hold-amid-weak-economy.html VIENNA (AP) — OPEC ministers agreed to keep their daily crude production target unchanged at a meeting Wednesday. But in a sign of internal rivalries, they failed to reach consensus on a new secretary general, a post sought by Saudi Arabia, Iran and resurgent oil-power Iraq. The agreement to leave the production ceiling at 30 million barrels a day was exp... Wed, 12 Dec 2012 16:17:00 GMT http://www.mail.com/business/economy/1761496-opec-output-target-hold-amid-weak-economy.html 2012-12-12T16:17:00Z http://www.mail.com/business/markets/1760586-greece-to-buy-319-billion-euros-bonds.html ATHENS, Greece (AP) — Greece will buy back €31.9 billion ($41.5 billion) of its bonds from private investors at a third of their nominal price, the debt agency said Wednesday, lightening its crushing debt load and meeting a key condition to receive vital rescue loans. But the deal will cost slightly more than originally budgeted, and must be approved by b... Wed, 12 Dec 2012 15:55:00 GMT http://www.mail.com/business/markets/1760586-greece-to-buy-319-billion-euros-bonds.html 2012-12-12T15:55:00Z http://www.mail.com/business/markets/1760900-german-opposition-banks-finance-rescue-fund.html BERLIN (AP) — Germany's main opposition parties are proposing that banks should pay at least €200 billion ($260 billion) into a new European rescue fund rather than hoping for taxpayer-funded bailouts in future. Chancellor Angela Merkel's center-left challenger in elections expected next September, Peer Steinbrueck, says it's important to reduce "the blac... Wed, 12 Dec 2012 12:36:00 GMT http://www.mail.com/business/markets/1760900-german-opposition-banks-finance-rescue-fund.html 2012-12-12T12:36:00Z http://www.mail.com/business/markets/1760534-bank-aid-money-arrives-spain.html MADRID (AP) — The Spanish government said Wednesday that the €39.5 billion ($51.3 billion) in bailout funds approved by European authorities for the country's troubled banks has arrived. A spokeswoman for the Economy Ministry said the money is now in the hands of a state-run fund set up to help those banks worst hit by the property market collapse in 200... Wed, 12 Dec 2012 10:49:00 GMT http://www.mail.com/business/markets/1760534-bank-aid-money-arrives-spain.html 2012-12-12T10:49:00Z http://www.mail.com/business/economy/1760536-global-corporate-deals-halved-5-years.html LONDON (AP) — The value of mergers and acquisitions deals around the world in 2012 was nearly half the amount made five years ago, when the financial crisis first bared its teeth, a leading accounting and consulting firm said Wednesday. Despite big deals such as Rosneft's takeover of fellow Russian oil company TNK-BP for a projected $54.5 billion, and Gle... Wed, 12 Dec 2012 10:33:00 GMT http://www.mail.com/business/economy/1760536-global-corporate-deals-halved-5-years.html 2012-12-12T10:33:00Z http://www.mail.com/business/markets/1760256-fed-expected-to-revamp-bond-buying-program.html WASHINGTON (AP) — The Federal Reserve is wrapping up 2012 the way it began the year, searching for ways to help a U.S. economy that is still struggling with high unemployment and sub-par growth. The expectation is that the Fed will announce a revamped bond-buying plan at the conclusion of their second day of discussions on Wednesday. The Fed's policy stat... Wed, 12 Dec 2012 10:30:00 GMT http://www.mail.com/business/markets/1760256-fed-expected-to-revamp-bond-buying-program.html 2012-12-12T10:30:00Z http://www.mail.com/business/economy/1757830-greece-to-bond-buyback-wednesday.html ATHENS, Greece (AP) — Greece will reveal the results of a key debt buyback deal Wednesday, after an extended deadline for private investors to decide whether they will sell back their Greek bond holdings at a discount expired without any official announcements. Finance ministers from the 17 European Union countries that use the euro held a conference call... Tue, 11 Dec 2012 22:46:00 GMT http://www.mail.com/business/economy/1757830-greece-to-bond-buyback-wednesday.html 2012-12-11T22:46:00Z http://www.mail.com/business/markets/1759400-us-defends-19b-deal-with-british-banking-giant.html NEW YORK (AP) — American authorities on Tuesday cited "astonishing" dysfunction at the British bank HSBC and said that it had helped Mexican drug traffickers, Iran, Libya and others under U.S. suspicion or sanction to move money around the world. HSBC agreed to pay $1.9 billion, the largest penalty ever imposed on a bank. The U.S. stopped short of chargin... Tue, 11 Dec 2012 20:37:00 GMT http://www.mail.com/business/markets/1759400-us-defends-19b-deal-with-british-banking-giant.html 2012-12-11T20:37:00Z http://www.mail.com/business/markets/1757606-hsbc-to-pay-19b-to-settle-money-laundering-case.html NEW YORK (AP) — British bank HSBC has agreed to pay $1.9 billion to settle a New York based-probe in connection with the laundering of money from narcotics traffickers in Mexico, U.S. authorities announced Tuesday. The move avoids a legal battle that could further savage the bank's reputation and undermine confidence in the global banking system. The anno... Tue, 11 Dec 2012 16:38:00 GMT http://www.mail.com/business/markets/1757606-hsbc-to-pay-19b-to-settle-money-laundering-case.html 2012-12-11T16:38:00Z http://www.mail.com/business/economy/1758284-angry-bank-clients-push-way-cyprus-parliament.html NICOSIA, Cyprus (AP) — Cypriot police say a group of investors and savers protesting outside parliament shoved their way past security and entered the building. The protesters claim the Cypriot banks sold them investment products under false pretenses to raise desperately-needed cash. Cypriot banks lost billions on their holdings of Greek debt during the ... Tue, 11 Dec 2012 15:08:00 GMT http://www.mail.com/business/economy/1758284-angry-bank-clients-push-way-cyprus-parliament.html 2012-12-11T15:08:00Z http://www.mail.com/business/markets/1757896-treasury-sells-remaining-shares-aig.html WASHINGTON (AP) — The Treasury Department said Tuesday that it has sold all of its remaining shares of American International Group Inc., moving to wrap up the government's biggest bailout of the 2008 financial crisis. Treasury said it received $32.50 per share for its 234.2 million remaining shares, which represented a 16 percent ownership stake in the g... Tue, 11 Dec 2012 11:35:00 GMT http://www.mail.com/business/markets/1757896-treasury-sells-remaining-shares-aig.html 2012-12-11T11:35:00Z http://www.mail.com/business/markets/1757854-fed-expected-to-launch-bond-buying-program.html WASHINGTON (AP) — With a nervous eye on the "fiscal cliff," the Federal Reserve is expected this week to announce a new bond-buying plan to support the U.S. economy. The goal would be to further reduce long-term interest rates and encourage borrowing by companies and individuals. If it succeeds, the Fed might at least soften the blow from tax increases an... Tue, 11 Dec 2012 10:33:00 GMT http://www.mail.com/business/markets/1757854-fed-expected-to-launch-bond-buying-program.html 2012-12-11T10:33:00Z http://www.mail.com/business/economy/1757820-spain-raises-5-billion-healthy-bond-sale.html MADRID (AP) — Spain has raised an above-target €3.9 billion ($5 billion) in a successful debt auction that saw interest rates drop sharply despite renewed concern about whether the country needs international help. The Treasury said Tuesady that it sold €2.39 billion in in 12-month bills with a yield of 2.56 percent, down from 2.79 percent in the previous... Tue, 11 Dec 2012 10:02:00 GMT http://www.mail.com/business/economy/1757820-spain-raises-5-billion-healthy-bond-sale.html 2012-12-11T10:02:00Z http://www.mail.com/business/markets/1756924-us-treasury-announces-final-aig-stock-sale.html WASHINGTON (AP) — The U.S. government said Monday that it is selling its remaining shares of American International Group stock, moving to close the books on the government's biggest bailout during the 2008 financial crisis. Treasury said it had begun a sale of 234.2 million shares of common stock in a public offering. The government's shares represent a ... Mon, 10 Dec 2012 21:36:00 GMT http://www.mail.com/business/markets/1756924-us-treasury-announces-final-aig-stock-sale.html 2012-12-10T21:36:00Z http://www.mail.com/business/markets/1755876-stocks-edge-higher-dow-boosted-mcdonalds.html NEW YORK (AP) — Stocks edged higher Monday on Wall Street after a strong sales report from McDonald's offset concerns about the surprise resignation of Italy's prime minister. Investors also waited for developments in crucial U.S. budget talks. The Dow Jones industrial average rose 14.75 points to 13,169.88. The index traded within a narrow range of just ... Mon, 10 Dec 2012 20:36:00 GMT http://www.mail.com/business/markets/1755876-stocks-edge-higher-dow-boosted-mcdonalds.html 2012-12-10T20:36:00Z http://www.mail.com/business/markets/1756108-report-mgrs-fannie-freddie-earned-200k.html WASHINGTON (AP) — A government report finds median pay for nearly 2,000 senior managers at government-controlled Fannie Mae and Freddie Mac exceeded $200,000 last year. The Federal Housing Finance Agency, which oversees the two mortgage giants, also did an inadequate job monitoring pay, according to the report released Monday from the inspector general fo... Mon, 10 Dec 2012 20:18:00 GMT http://www.mail.com/business/markets/1756108-report-mgrs-fannie-freddie-earned-200k.html 2012-12-10T20:18:00Z http://www.mail.com/news/world/1756152-spaniards-hope-eviction-reprieve-amid-crisis.html MADRID (AP) — Irene Gonzalez is desperately waiting to hear if she'll benefit from an emergency government decree that protects Spaniards such as her from being evicted for failing to make their mortgage payments. Gonzalez, 45, has had her full-time job reduced to part time at the small air-conditioning company she works for. She's a single mother caring ... Mon, 10 Dec 2012 19:16:00 GMT http://www.mail.com/news/world/1756152-spaniards-hope-eviction-reprieve-amid-crisis.html 2012-12-10T19:16:00Z