The ECB announced that Cyprus government bonds are ineligible as collateral due to lowered credit rating.
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Mayors: Cap on municipal bond would hinder growth
The U.S. Conference of Mayors said President Barack Obama's financial plan would hurt the economy.
Coeure: ECB has Euros 50 billion in SMEs
Benoit Coeure, ECB Executive Board member, said the bank has Euro 50 billion on loans to small and mid-sized businesses.
Citigroup stops operating in Uruguay
Citigroup sold its Uruguay operations to Itau Unibanco. (Photo : REUTERS)Citigroup Inc, which has lagged behind its peers in recovering from the financial crisis, said it is cutting 11,000 jobs worldwide, about 4 percent of its staff, to save as much as $1.
Tiger Airways invests on 'niche' Philippines
Tiger Airways will pioneer a new route in the Philippine budget airline market. (Photo : Reuters)The office of a Tiger Airways ticketing office. Due to the recent spotlight on the Philippines' tremendous economic growth, Asia's low cost airline carrier Tiger Airways takes the opportunity to invest into what it considers to be a 'niche market.
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Japan's Government Pension Investment Fund will use its US$1.1 trillion budget to buy properties in major cities
Closed end funds are increasing in number and value, with 24 funds launched having US$10.5 billion in portfolio value.
Many investors are divesting their bond holdings because of current economic conditions. (Photo : Reuters)The image are two bond traders on the floor of a stock exchange.
Banco de Madrid gained Bankia's stake at Inversis. (Photo : REUTERS)Spain's Santander plans to invest in the country's so-called bad bank in a sign that healthy domestic lenders are willing to support the entity created to clean up the aftermath of a 2008 property crash.
Chinese fund managers suggested a lower exposure to stocks due to a probable cash squeeze. (Photo : Reuters)The image is a bank teller counting yuan. Fund managers from China lowered their preferred exposure to bonds and stocks this June as concerns regarding the effects of a cash squeeze in the money market were raised.
Pekao, after failing to purchase Nordea Bank Polska, is now seeking out new acquisitions. (Photo : Reuters)The image is the corporate logo of Bank Pekao SA.
The chairman of the Chinese Banking Regulatory Commission allays fears of liquidity issues saying that the system has sufficient funds to cover all settlements.
Outflows continue in record breaking fashion, as a total of $23 billion, the biggest since 1992, was reported.
Viktor Vekselberg continues expanding by initiating a bid to buy Schmolz+Bickenbach. (Photo : Reuters)Russian tycoon Viktor Vekselberg gives a speech in an assembly.
