Facebook Inc CEO Mark Zuckerberg soothed investors in his first major public appearance since the No. 1 social network's rocky May IPO, breathing life into its struggling shares after hinting at new growth areas from mobile to search. The 28-year-old co-founder looked confident in a gray T-shirt and jeans, asking Wall Street to be patient
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Brazil is in danger of narrowly missing its most closely watched government budget goal this year, three officials have told Reuters. This may be another sign that a long stretch of economic stagnation is causing the government to relax its fiscal discipline. The year-long slowdown in the once-booming economy of Brazil has impaired tax collection
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Morgan Stanley agreed to buy the rest of a brokerage joint venture from Citigroup Inc at a lower-than-expected price valuing the business at $13.5 billion, a win for Morgan Stanley although it faces challenges to boost the operation's profits. The brokerage business was meant to stabilize Morgan Stanley's revenue during economic cycles but has not
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Omega-3 fatty acids, found in oily fish such as sardines and salmon and once touted as a way of staving off heart disease and stroke, don't help after all, according to a Greek study. Based on a review and analysis of previous clinical trials including more than 68,000 participants, Greek researchers whose report appeared in
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The European Union and IMF agreed on Tuesday to ease budget goals imposed on Portugal under a 78-billion-euro bailout, Finance Minister Vitor Gaspar said, giving Lisbon more time to meet the targets as its economy slides deeper into recession. The move marks a climb down for the centre-right coalition government which has single-mindedly concentrated on
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U.S. and European stocks rallied, Treasuries slipped and the dollar weakened on Tuesday on expectations a German court would not interfere with a euro zone rescue plan and that the Federal Reserve would again ease U.S. monetary conditions. The prospect of Fed easing weighed on the U.S. dollar since it pointed to lower returns on
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Greek trade unionists protesting against austerity measures formed a human chain to block the entrance to the Labour Ministry on Tuesday, delaying talks with Greece's foreign lenders. Dozens from the Communist-affiliated PAME group unfurled banners reading "Troika, IMF, ECB – Get out of here!" outside the ministry's main entrance. The talks with inspectors from the
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A sweeping reform of Europe's derivatives market will be rolled out over several months and not with a "big bang" in January to allow banks time to bed down the system before they risk enforcement action, regulators said on Tuesday. World leaders agreed in 2009 during the financial crisis to crack down on trading in
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Eurogroup expects from the Cypriot government precise details regarding its request for a bailout, a senior Eurogroup official has said. “We expect to see the demands of the government which have not been submitted yet,” he said, noting that Cyprus needs a programme not only about its banking sector but also about rectifying structural imbalances.
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Christine Lagarde, Managing Director of the International Monetary Fund, will visit Cyprus at the invitation of the Eurogroup Chairman Jean Claude Juncker to attend the informal EU Finance Ministers’ meeting, which Nicosia will host on September 14 – 15. IMF sources have said that during her stay in Cyprus, Lagarde will meet senior government officials
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