Britain's index of leading shares fell below the key 5,000 level on Friday for the first time since November 2009, as euro zone sovereign debt concerns weighed on sentiment, with banks and oil stocks hit hardest. By 1121 GMT, the FTSE 100 had fallen 81.04 points, or 1.7 percent, to 4,992.09. The index has lost
More
National Bank, Greece's largest lender, expects 2010 and 2011 to be difficult because of the country's severe debt problems and a contracting economy, its chief executive told its shareholders on Friday. Recession has added further to the country's woes increasing the cost of borrowing for major Greek banks, which hold large shares of Greek government
More
The Senate approved a sweeping Wall Street reform bill on Thursday night, capping months of wrangling over the biggest overhaul of financial regulation since the 1930s. By a vote of 59-39, the Senate awarded a victory to President Barack Obama, a champion of tighter rules for banks and capital markets after a 2007-2009 financial crisis
More
Web search king Google Inc on Thursday showed off a risky attempt to marry the Web to television and reach the $70 billion TV advertising market, chasing a dream that has eluded even archrival Apple Inc. Developers at a conference applauded "Google TV," and a slew of tech industry titans, including microchip maker Intel Corp
More
European stocks fell again on Friday despite German approval of a euro zone rescue package, as markets remained unconvinced the aid would resolve the debt crisis. The euro, however, found support from short covering. Wall Street was also set to open lower, after plunging nearly 4 percent in the previous session. In the general flight
More
German lawmakers approved on Friday a $1 trillion safety net to stabilize the euro as world stocks slid further on fears Europe's debt crisis and tougher financial regulation will choke economic recovery. The Bundestag (lower house) approved Berlin's contribution of up to 148 billion euros ($183.8 billion) in loan guarantees, deeply unpopular with voters, on
More
Stock index futures pointed to a slightly higher open on Wall Street on Friday, following the previous session's steep sell-off, with futures for the S&P 500 up 0.4 percent, Dow Jones futures up 0.29 percent and Nasdaq 100 futures up 0.15 percent at 0800 GMT (4 a.m. ET). U.S. shares tumbled nearly 4 percent on
More
The Hellenic Bank Group recorded net profit of 28.3 million euro in 2009, slightly less compared to the 2008 profit totaling 31,3 million euro. The Group presented its results for 2009 at the Annual General Meeting. According to a press release issued by the HB, despite the global financial crisis, the Group further improved its
More
President Demetris Christofias has said that Cyprus’ economy, in spite of the world economic crisis and in comparison to other countries, has proven to be resilient, adding that the government does its utmost to ensure that the fallout from the global crisis will be restricted to the minimum. Addressing the Annual General Meeting of the
More
The world economic crisis continues to affect Cyprus and as a result in 2009 the rate of growth showed a negative trend of 1,7% in comparison to 3,6% in 2008, President of the Cyprus Employers and Industrialists Federation (OEB) Andreas Pittas has said. Addressing on Thursday OEB’s Annual General Meeting (AGM) in Nicosia, Pittas said
More