Stories for 2010

Saturday, May 8th 2010 - 01:42 UTC
EU Full Support for Euro (and Greece) to Fight Contagion: Creates Stabilization Mechanism

Leaders of the 16 EU member states that use the Euro have approved a 110 billion Euro loan to Greece to prevent its debt crisis from spreading. European Commission President José Manuel Barroso said the Eurozone would do whatever it took to safeguard Greece's financial stability. In return for the three-year loan, Athens must cut public spending.
Saturday, May 8th 2010 - 01:23 UTC
Falklands’ Rockhopper “High Quality Reservoir” Oil Find Boosts Shares

Rockhopper Exploration (LON:RKH) oil discovery in the Falklands Islands is of “good” quality said on Friday a release from the company. The announcement had a positive impact on shares of all Falklands’ oil explorers.
Friday, May 7th 2010 - 21:40 UTC
Brazil Will Not Allow Drug Cartels or Armed Groups from Taking Over Paraguay

Brazilian Senate president José Sarney said there are serious risks of a “Colombianization” of Paraguay given the recent actions of an armed group self proclaimed the Paraguayan People’s Army, EPP, and called for strong support for President Fernando Lugo.
Friday, May 7th 2010 - 21:34 UTC
Honduran President Calls Brazil “Arrogant”, Steps Down from Latam/EU Summit

Honduran president Porfirio Lobo will not attend the LAC-EU summit in Spain later this month, after South American leaders who do not recognize him as his country's legitimate leader threatened to pull out. However, he will attend the EU/Central America meeting, which will be held a day later.
Friday, May 7th 2010 - 05:42 UTC
Hung Parliament in UK: Labour Looses but Cameron Short of a Majority

British Conservative Leader David Cameron said the Labour government has lost its mandate to govern, as exit polls suggested the Tories have won the largest number of seats in Britain's national election, but will not gain a majority.
Friday, May 7th 2010 - 05:40 UTC
Panic in Wall Street: Possible Electronic Error Plunges Markets 1.000 Points

United States regulators and stock exchanges are searching for answers after what is believed to be an electronic trading error set off a heart-stopping plunge in markets that rivalled the crash of 1987.
Friday, May 7th 2010 - 05:36 UTC
Greek Default “Is Not an Option” and “Never Has Been” Says IMF

A default by Greece on its debt obligations is not and has never been an option, a spokeswoman for the International Monetary Fund (IMF) said on Thursday. A Greek “default is not on the table, has not been on the table” insisted IMF director of external relations Caroline Atkinson.
Friday, May 7th 2010 - 05:33 UTC
ECB Leaves Euro Policy Unchanged; European Leaders Set to Approve Greek Rescue

European Central Bank president Jean-Claude Trichet faced down pressure for new moves to shore up the weakest Eurozone countries, but kept options open even as he said Spain and Portugal were “not Greece”.
Friday, May 7th 2010 - 05:31 UTC
Chinese Shares Plunge to 8 Month Low on Fears of Tight Credit

Chinese shares plunged to an eight-month low Thursday on persistent concerns over weak overseas markets and government measures to tighten credit and curb property speculation, dealers said.
Friday, May 7th 2010 - 05:27 UTC
Brazil’s Bovespa Plunges to a 3 Month Low and the Real to January 09 Level

Brazil’s Bovespa stock index plunged Thursday to a three-month low, extending its drop in the past month to 12%, and the Real tumbled as concern Europe’s debt crisis will spread prompted investors to sell higher-yielding assets.