Global Markets News Roundup

  • Euro zone insists no Greek rescue without reforms 5 Feb 2012 | 9:19 am

    BRUSSELS (Reuters) - Euro zone finance ministers told Greece it could not go ahead with an agreed deal to restructure privately held debt until it guaranteed to implement reforms to secure a second financing package from the euro zone and the IMF.

  • Glencore, Xstrata hammering out final deal details 5 Feb 2012 | 9:18 am

    CAPE TOWN/LONDON (Reuters) - Top executives at trader Glencore and miner Xstrata are hammering out the final details of an $80 billion tie-up to seal the industry's largest ever takeover, which could be announced as early as Tuesday.

  • ET, the new alien scaring global markets 5 Feb 2012 | 8:49 am

    (Reuters) - The United States is coming to be seen as a global threat, acting unilaterally with aggressive new market rules that critics say will hurt U.S. firms, foreign banks, and international markets in one swoop.

  • Iran issues ultimatum to India over gas field 5 Feb 2012 | 6:32 am

    TEHRAN (Reuters) - Iran has given a one-month ultimatum to an Indian consortium over the development of a gas field whose delay by India has been attributed to western pressure, the semi-official Fars news agency reported on Sunday.

  • Oil industry sees no threat from electric car 5 Feb 2012 | 2:38 am

    LONDON (Reuters) - The biggest oil companies in the world have calculated that few, if any, of today's drivers will see electric cars outnumber gasoline and diesel models in their lifetimes.

  • China's Wen says country has stake in helping Europe 5 Feb 2012 | 2:02 am

    BEIJING (Reuters) - China has a stake in helping euro zone countries get through their debt crisis, Chinese Premier Wen Jiabao said in comments published on Sunday, pointing to Europe's importance as a market and hinting at more possible support for beleaguered exporters.

  • NMDC looks to acquire mineral assets overseas 5 Feb 2012 | 1:33 am

    MUMBAI (Reuters) - India's biggest iron ore miner, NMDC Ltd , is scouting for mineral assets in Brazil, Mozambique, Russia, the United States and South Africa, it said in a statement.

  • Piramal raises stake in Vodafone India unit 4 Feb 2012 | 3:58 am

    (Reuters) - Piramal Healthcare Ltd said on Saturday it would buy a 5.5 percent stake in Vodafone's India unit from Essar for 30 billion rupees, taking its total stake in the mobile company to about 11 percent.

  • Kingfisher puts plans to join oneworld alliance on hold 3 Feb 2012 | 11:44 pm

    REUTERS - Kingfisher Airlines Ltd has put on hold plans to join the global oneworld alliance, in the latest blow to the financially troubled carrier.

  • Fed-up SBI "to name and shame" defaulters 3 Feb 2012 | 11:33 pm

    MUMBAI (Reuters) - The State Bank of India , the country's biggest lender, will name and shame "wilful" defaulters and put their pictures in newspapers to get them to pay up, the Economic Times said on Saturday.

  • Nasdaq falls 2 percent on economy worries 2 Aug 2011 | 12:11 pm

    NEW YORK (Reuters) - The Nasdaq fell 2 percent while the Dow and S&P 500 extended losses on Tuesday as worries about the economy outweighed relief over enactment of a law avoiding a U.S. default.


  • Insight: When ratings agencies judge the world 2 Aug 2011 | 12:01 pm

    WASHINGTON/LONDON (Reuters) - The man who holds in his hands the fate of U.S. credit, and with it potentially the global economy, favors small tie knots, sports a bushy mustache and smokes his fair share of cigarettes.


  • Congress averts default, downgrade fears haunt 2 Aug 2011 | 12:01 pm

    WASHINGTON (Reuters) - Congress buried the specter of a U.S. debt default by finally passing a deficit-cutting package on Tuesday, but uncertainties lingered over a possible painful downgrade of the top-notch American credit rating.


  • Eleventh arrest in UK tabloid hacking scandal 2 Aug 2011 | 11:59 am

    LONDON (Reuters) - Stuart Kuttner, who ran the News of the World's finances for 22 years as managing editor, was arrested on Tuesday over a phone-hacking scandal at the now-defunct tabloid which has rattled the British establishment, a source close to the case said.


  • Italy under fire in widening euro debt crisis 2 Aug 2011 | 11:54 am

    ROME (Reuters) - Financial market pressure on Italy intensified on Tuesday, sucking Europe's second biggest debtor nation deeper into the euro area danger zone and prompting emergency consultations in Rome and among European capitals.


  • Factbox: Inside the two biggest sovereign rating agencies 2 Aug 2011 | 11:52 am

    (Reuters) - Two credit rating agencies hold the key to the global economy in their hands as they contemplate a downgrade of the U.S. sovereign rating.

  • Scenarios: Next steps in carrying out new budget deal 2 Aug 2011 | 11:32 am

    WASHINGTON (Reuters) - It's been a long hard struggle, but the Congress finally passed a debt limit increase that also envisions more than $2 trillion in deficit reductions over the next decade. Now the work begins.

  • Fitch keeps U.S. AAA rating, review ongoing 2 Aug 2011 | 11:23 am

    NEW YORK (Reuters) - Fitch Ratings said on Tuesday the agreement to raise the borrowing capacity of the United States means the risk of a sovereign default is "extremely low" and commensurate with a AAA rating.


  • FACTBOX: Debt deal risks to companies 2 Aug 2011 | 11:21 am

    (Reuters) - Some investors see a risk for healthcare and defense stocks, among other sectors, in the U.S. congressional deal to slash at least $2.1 trillion in spending over a decade in exchange for raising the government's borrowing limit.

  • Exclusive: Nine Google complainants in EU probe 2 Aug 2011 | 11:10 am

    BRUSSELS (Reuters) - Google faces a total of nine antitrust complaints which EU regulators are now investigating, two sources said on Tuesday, as rivals ramped up the pressure on the world No. 1 search engine.


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