Greeks vote with wallets in fear of euro zone exit
ATHENS/BERLIN - Greeks are voting with their wallets and pulling cash out of banks in fear that their country may leave the euro despite the declared determination of Germany and France to keep Athens in the single currency. Full Article
Euro crisis leaves door open for more BoE easing
LONDON - The escalating danger from the neighbouring euro zone debt crisis prompted the Bank of England on Wednesday to keep alive the prospect of more help for an ailing economy it said was growing more slowly than expected. | Video
JPM investment unit played by different rules
The JPMorgan Chase unit that lost more than $2 billion through a failed hedging strategy had looser risk controls than the rest of the bank, according to people familiar with the situation. Full Article
 |
Mladic taunts survivors at start of genocide trial
THE HAGUE - Bosnian Serb general Ratko Mladic taunts Srebrenica survivors at the start of his trial for genocide, running his hand across his throat in a gesture of defiance to relatives of the worst massacre in Europe since World War Two. Video | Full Article
The rise and fall of Rebekah Brooks
Rebekah Brooks rose from secretary to chief executive of Rupert Murdoch's British newspaper group, but the woman who once partied with prime ministers now faces criminal charges and possible prison time. Full Article
BHP warns commodities markets to cool further
SYDNEY - BHP Billiton says it expects commodity markets to cool further and that investors have lost confidence in the longer-term health of the global economy, in the most cautious outlook taken by the mining giant. Full Article
In Europe, carmakers dodge plant closures
GENEVA/BRUSSELS - After more than four years of falling profits, Europe's carmakers have yet to restructure or consolidate. Now, the industry is caught in a "a game of chicken" where the first company to close plants is likely take the brunt of the costs. Full Article
French architect may be key to China scandal
RAINANS/DALIAN - An elusive French architect is emerging as a key figure in China's biggest political scandal in years, with evidence suggesting he shared both an affectionate and close business relationship with the woman at the heart of the scandal. Full Article
3XSQ: Facebook and Apple go big
May 16 - Facebook increases size of IPO while Apple may reportedly be increasing the size of the iPhone screen.
Latest Headlines
Clash over Syria in Lebanon
Lebanese soldiers try to keep clashes from escalating in Tripoli between Alawaite supporters of Syrian President Assad and Sunni Muslims.
How to protect the euro from a Greek exit
The chances of Athens quitting the euro have shot up. Unless the rest of the euro zone is well prepared, the knock-on effect will be devastating. Fortunately, it’s not too difficult to construct a contingency plan. Commentary
Facebook winning Keynesian beauty contest
Investors devouring Facebook's IPO shares have pushed its top valuation to over $100 billion. To justify the lofty figure, buyers are using everything from eyeballs to credit scorers. But such analytical gymnastics are merely a way to rationalise the Facebook hype. Commentary
JP Morgan - when basis trades blow up
After announcing a $2 billion trading loss in what was described as a hedging strategy gone bad, JP Morgan CEO Jamie Dimon said he should have been watching more closely “trading losses - and newspapers”. It wasn’t a joke. Once your positions become public knowledge, the market will smell blood. Commentary
Property slowdown leaves China on shaky ground
It has taken Chinese property developers a year of falling prices to rein in speculative behaviour. Now the message seems to be hitting home. If construction slows, growth will too. And if caution replaces speculation, the Chinese economy could end up with a painfully hard landing. Commentary
What price beauty?
The $120 million sale of Munch’s “The Scream” shows the elite art market is effectively serving one social function: giving the rich symbols of affluence. The market for mass art also works well, by some standards. But industrial production has not served the pursuit of the beautiful. Commentary
Don't call him Mr Merkel
BERLIN - Political spouses sometimes provide a spot of glamour. Then there is Joachim Sauer. As his wife Angela Merkel stands in the global spotlight battling the euro zone's economic crisis, Sauer is happy to remain unknown outside the world of theoretical chemistry. Full Article
 |
JPMorgan loss proves U.S. banks need bigger cushion - Summers
JP Morgan’s $2 billion-plus trading loss signals that U.S. banks need larger safety buffers, capital requirements and levels of liquidity to avoid catastrophe, says former U.S. Treasury Secretary Larry Summers. Video
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
