Posted on June 30, 2011 by
WASHINGTON — In a blistering rebuke of Republicans, President Barack Obama on Wednesday pressed lawmakers to accept tax increases as part of a deal to cut the nation's deficits and avoid a crippling government default.
Continue ReadingPosted on January 13, 2011 by
— The intensifying European debt crisis appeared to take a step back from the brink on Wednesday when besieged Portugal was able to sell more than €1.2bn in long-term debt at much lower than expected interest rates.
Continue ReadingPosted on December 15, 2010 by
Ratings agency Moody’s warned Spain on Wednesday that its debt could be downgraded and Portugal took steps to revive its economy amid concerns about euro zone debt contagion on the eve of a European Union summit.
Continue ReadingPosted on October 27, 2010 by
Dubai World secured full creditor support for its $24.9 billion debt restructuring plan after the last holdout lender unloaded its claim, representatives for the companies said Wednesday.
Continue ReadingPosted on May 19, 2010 by
The International Monetary Fund urged Japan on Wednesday to begin efforts to reduce its huge public debt from April 2011, as the country’s fiscal situation comes under increasing scrutiny.
Continue ReadingPosted on March 24, 2010 by
AN UNWANTED IMPORT: Major stock indexes fell Wednesday, a day after closing at 2010 highs, after Fitch Ratings lowered its rating on Portugal’s debt.
Continue ReadingPosted on February 10, 2010 by
Oil prices rose for a third consecutive session Wednesday amid optimism that a rescue plan for Greece and other debt-challenged European nations may be near.
Continue ReadingPosted on October 7, 2009 by
The European Union launched action against nine countries on Wednesday over excessive debt levels which have now engulfed 20 of the bloc’s 27 nations.
Continue ReadingPosted on July 15, 2009 by
Metro-Goldwyn-Mayer said on Wednesday it delivered an audit opinion to its lenders showing the troubled studio is financially sound enough to continue operating and was in compliance with all of its debt covenants.
Continue ReadingPosted on July 2, 2009 by
Fitch Ratings on Wednesday cut Comerica’s investment-grade debt ratings, saying the bank’s profitability is increasingly threatened by higher credit costs and the recession.
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