financial news

Banks raise Greek haircut offer to 40 percent in talks: source | Reuters Bankers have offered to stretch the voluntary haircut on Greek debt to 40 percent, while politicians demand the private sector agree to writedowns of…

Euro zone summit ends with no line drawn in the sand; European PMI surprises to the downside. Markets look for euro zone to present comprehensive three-pong approach to finalize crisis this week. US Q3 GDP expected at 2.5%’; Private sector…

The single currency is close to collapse - Telegraph With Europe on the brink of a disaster, the euro must be reconstituted as an entity based on economic reality, not ideological folly. tags: sovereign debt crisis…

Is Bank of America preparing for a Chapter 11? | Reuters To my earlier post regarding the need for a restructuring at BAC, “Housing, debt ceilings & zombie banks,” the move to put the derivatives…

FT Alphaville » A pox on all your AAA houses "No doubt it’s just a coincidence that S&P published new recession scenarios for the eurozone on the same day Brussels began talking about banning…

Another volatile session marked by choppy overnight trading; global stocks mixed overnight. Euro zone summit unlikely to draw a line in the sand; German Ifo somewhat better than expected. USD/TRY managed to keep most of its gains following…

Marshall Auerback: Gold and Silver Opportunities in Turbulent Times tags: gold…

European session marked by choppy macro price action; France and Germany split over EFSF leverage. North American session likely dominated by Greek vote, US reports and headlines surrounding EFSF. UK retail sales beat expectations but…

The Bankers’ Capital War - Howard Davies - Project Syndicate Almost everyone nowadays agrees that banks need more capital. Christine Lagarde chose to make it her first campaign as Managing Director of…

Equity markets are mostly positive after strong gains overnight; supported by euro zone crisis plans. EUR firms despite Spain’s rating downgrade by Moody’s; Norges Bank expected to remain on hold. Japanese and South Korean policy makers…