UBS’s (UBSG.VX) chairman said a default by Greece is seen by the International Monetary Fund as “systemically controllable” and he believed it would have a negligible impact on the Swiss bank itself, according to a newspaper interview published on Saturday. Euro zone finance ministers told Greece on Friday that its leftist government would get no more aid until it agreed a complete economic reform plan. In an interview with Neue
Greece’s governors and other local officials agreed on Saturday to lend cash to the near-bankrupt central government after Prime Minister Alexis Tsipras assured them the measure would last for only a short period of time. Greek lawmakers approved a decree late on Friday to force state entities to lend cash to the central government in spite of protests by municipalities and labor unions. The measure, which was approved by 156
Foreign banks are not “queuing up” to buy lenders in Italy after a government reform that is expected to spur a wave of mergers and acquisitions targeting cooperative banks in the euro zone’s third biggest economy, its chief executive said. “I have not seen queues (by foreign banks) to enter Italy,” UBI CEO Victor Massiah told reporters on the sidelines of a shareholder meeting that approved the bank’s 2014 accounts.
The building is home to Futex, one of several so-called “trading farms” in the UK that give training, office space and equipment to people prepared to make short-term trades, mostly within a day, with their own money in the hope of being hired or sponsored for a cut of their profits. Navinder Singh Sarao – who has been accused by U.S. authorities of contributing to the May 2010 “flash crash”
The Nasdaq Composite and S&P 500 chalked up record high closes on Friday, propelled by strong results from tech behemoths Google, Amazon and Microsoft. The Nasdaq Composite added 0.71 percent to end at …
U.S. business investment spending plans fell for a seventh straight month in March, weighed down by a strong dollar and lower energy prices, suggesting the economy was struggling to rebound from a recent soft patch. The report from the Commerce Department on Friday came on the heels of lukewarm data on retail sales, employment and housing starts that have hinted at insufficient growth momentum that could prompt the Federal Reserve
Japanese consumer electronics firm Sony Corp has raised its operating profit estimate for fiscal 2015 to 300 billion yen ($2.52 billion), or four times its previous estimate, the Nikkei reported on Saturday. Expectations for higher sales of display sensors used in mobile phones and the Playstation gaming console were the reason Sony raised its forecast, the Nikkei reported without citing sources. No one from Sony was available to comment. Sony
Amazon shares are rocketing up to fresh all-time highs. And while the e-commerce giant shocked the Street with profitability in its cloud unit, there’s more driving the bulls.
Stock indexes edged higher Friday, helped by gains in big technology companies including Google, Amazon and Microsoft. KEEPING SCORE: The Standard & Poor’s 500 index rose five points, or 0.3 percent, to …
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