Posts Tagged ‘debt’

ECB president Mario Draghi raises possibility of 3-year government bond purchases

Nathan Andrada – Fourth Estate Cooperative Contributor Brussels, Belgium (4E) – European Central Bank (ECB) president Mario Draghi has once again made remarks that support a move by the bank to help struggling euro zone countries through purchase of government bonds that have maturity of three years or less. Several European MPs have revealed that […]

Manchester United has tepid NY stock market debut

Fitzgerald Cecilio – 4E Sports Reporter New York, NY, United States (4E Sports) – Manchester United did not perform as expected during its much-anticipated stock market debut Friday, raising just $ 234 million from 16.7 million shares to finance the debt-riddled team. The team (MANU.N) opened at $ 14.05 per share on the New York […]

Emails Give Glimpse Into Deals That Fueled Financial Meltdown

ProPublica Staff NY, NY, United States (ProPublica) – by Jesse Eisinger and Jake Bernstein As ProPublica has been detailing for two years, Wall Street banks and the hedge fund Magnetar worked together to build mortgage-backed deals that the hedge fund also bet against. The more than $ 40 billion of deals helped fuel the crash […]

AT&T bolsters mobile Internet service with purchase of NextWave Wireless Inc.

Telecommunications company AT&T acquired NextWave Wireless Inc. for $ 600 million in cash. The deal expects AT&T to improve its mobile Internet service. The amount reached $ 600 million because AT&T also took on NextWave’s debt of $ 550 million. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

European Central Bank (ECB) president Draghi readies bond buying plan but offers no specifics

Nathan Andrada – Fourth Estate Cooperative Contributor Frankfurt, Germany (4E) – European Central Bank (ECB) president Mario Draghi on Thursday revealed the possibility of the ECB intervening in the bond market to battle the crisis, although he never offered any concrete action. People expecting for a grand solution were left disappointed by Draghi’s statement in […]

South Korea’s central bank cuts policy rate to 3%

Nathan Andrada – Fourth Estate Cooperative Contributor Seoul, South Korea (4E) – The South Korean central bank surprised the markets on Thursday by lowering its key benchmark interest rate by 25 basis points citing worsening economic conditions in the U.S. and Europe, along with softening demand for local goods in emerging markets. Economists see this […]

Fitch downgrades Japan’s credit rateing

Linda Young – Fourth Estate Cooperative Writer Tokyo, Japan (4E) – Ratings agency Fitch downgraded Japan’s sovereign credit rating Tuesday from an AA to A+ and warned that further downgrades might be necessary. That is still an investment grade rating, but it is just above the ratings of troubled Italy and Spain. It was the […]

OECD says Europe’s debt crisis could hamper global economic recovery

The biggest threat to recovery for the global economy is Europe’s sovereign debt, the Organization for Economic Cooperation and Development warned Tuesday. Article © AHN – All Rights Reserved Economy, Business And Finance Stories

Fitch downgrades Greek sovereign debt

Linda Young – Fourth Estate Cooperative Writer Athens, Greece (4E) – Fitch Ratings downgraded the credit rating of Greece’s government again on Thursday. Greece’s credit rating dropped from a B- to a CCC, which puts it deeper into junk bond territory. That means many investors cannot buy Greek debt even if they thought it was […]

European Commission sees contraction in eurozone

The European Commission predicts the eurozone economy will shrink this year as the region’s debt crisis continues to take its toll. Article © AHN – All Rights Reserved Economy, Business And Finance Stories