Dec 23, 2016 at 21:18 | Source: Reuters
The penalties stem from an initiative launched by U.S. President Barack Obama to pursue banks for selling sub-prime debt without warning of the risks, a practice that led to the worst economic crisis since the Great Depression.
Dec 20, 2016 at 07:40 | Source: Reuters
The US Department of Justicehas asked Credit Suisse to pay between USD 5 billion and USD 7 billion to settle a probe over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis, a source with knowledge of the matter said, but the bank has resisted settling for that amount.
Dec 05, 2016 at 12:18 | Source: Reuters
The regular gathering of the 19 ministers of the currency bloc will be held in the immediate aftermath of Italy's constitutional referendum, with a defeat of Italian Prime Minister Matteo Renzi potentially putting the euro under new pressure and reigniting the smouldering euro zone crisis, further complicating the Greek talks.
Nov 16, 2016 at 12:40 | Source: Reuters
The claimants' filings allege senior managers were warned by internal risk experts for more than six months that overvalued toxic debt, including subprime mortgage bonds, had left the bank dangerously exposed to a collapse in US property prices.
Oct 17, 2016 at 10:31 | Source: Reuters
The world's second-largest economy faces nagging downward pressure due to slack global demand that has hurt its exports, as well as risks from painful reforms to cut industrial overcapacity and a growing pile of debt that some analysts fear could spark a financial crisis.
Aug 17, 2016 at 21:55 | Source: Reuters
Unrelenting demand for fixed income has pushed yields, in Europe at least, to a point where investors no longer distinguish one country's bonds from another's -- potentially storing up trouble for when focus returns to the economic drivers behind borrowing costs.
Aug 05, 2016 at 09:56 | Source: Reuters
Suzlon's purchase of German wind energy firm RePower, now renamed Senvion, for 1.4 billion euros (USD1.56 billion) in 2007 proved a costly mistake after the 2008 global financial crisis dented demand for wind turbines.
May 27, 2016 at 14:10 | Source: PTI
Tokyo is scheduled to raise the sales tax from eight to 10 percent in April 2017 to help pay down one of the biggest debt loads among rich nations.
May 25, 2016 at 21:42 | Source: Reuters
The late-night compromise spared the battered European Union the risk of another Greek crisis this year, less than 12 months after Athens was on the brink of ejection from the currency area by rejecting austerity measures and defaulting on an IMF loan.
May 24, 2016 at 07:26 | Source: PTI
In an analysis released today, the Washington-based lender says that debt relief is "critical" to show markets that Greece's creditors are committed to helping it navigate the crisis.