Rating action follows downgrade of Piraeus Bank of Greece Moody's Investors Service has downgraded the bank financial strength rating (BFSR) of Piraeus Bank Bulgaria AD (PBB) to E+ from D-, its long-term deposit rating by three notches to Ba3 from Baa3, and its short-term deposit ratings to NP from Prime-3. The outlook on all ratings

U.S. stock index futures rose on Monday as investors welcomed details of a fiscal aid package for Greece and focused on a merger that would create the world's largest airline. European countries agreed to a 110 billion-euro ($146.5 billion) aid package for debt-laden Greece, the biggest ever financial bailout of a country. The lack of

The euro dropped on Monday and stocks fell on fears that a 110 billion euro bailout of Greece will face stiff political challenges, while fresh steps by China to cool its economy added to near-term uncertainty. Major European stocks were expected to fall as much as 0.9 percent, with concerns about European sovereign debt, fears

In the second stage of a two-part rollout, Apple Inc on Friday began selling the pricier, high-speed wireless version of the iPad in the United States, following the successful launch of the short-range Wi-Fi tablet earlier this month. Although the event certainly lacked the buildup and excitement of the April 3 debut — with the

The euro sank nearly 1 percent on Monday and stocks fell on fears that a 110 billion euro bailout of Greece will face stiff political challenges, while fresh steps by China to cool its economy added to near-term uncertainty. The emergency aid for Greece, the most ever for a country, alleviated some fears of a

Factories in Asia-Pacific cranked up production last month, with Australia surging at its fastest pace in eight years, and mounting inflation pressures pointed to further policy tightening as the economic recovery gathers steam. Output growth in India eased a tad in April but still held near a 20-month high hit in February while factory activity

U.S. President Barack Obama told Greek Prime Minister George Papandreou on Sunday that he welcomes Greece's "ambitious" reform program, the White House said. The White House also said Obama welcomed the "significant support" agreed to by the IMF, Eurozone members. "The two leaders discussed the importance of implementation going forward," according to the White House,

European nations aim to formally launch the biggest ever financial bailout of a country this week, hoping to calm markets wary that Greece's rescue may be the first of several, expensive measures to shore up other economies. The euro fell on Monday despite the EU/IMF bailout announced at the weekend on doubts about whether Greece