Three major U.S. Wall Street banks had to scale back planned investor payouts after an annual check-up by the Federal Reserve, and two foreign banks failed the test altogether, a sign the Fed is keeping a tight lid on Wall Street.
The International Monetary Fund has agreed to pump $10 billion into Ukraine's troubled economy over the next year, providing swift assistance for the country's struggling finances as part of a larger four-year bailout.
The head of the euro zone finance ministers responded positively to Greece's request for an immediate start to technical talks with international creditors to conclude the country's current bailout program, a Greek government official said on Saturday.
The International Monetary Fund on Wednesday said it was ready to assist Ukraine with its foreign currency issues, amid a steep fall in the country's hryvnia currency.
Stock markets and the euro started the week on a cautious note on Monday as a Greek debt deal struck last week remained in the balance until Athens drew up a list of reforms to satisfy its creditors.
The German parliament could approve a four-month extension to euro zone funding for Greece, on condition Athens presents a list of reforms as promised, a senior ally of German Chancellor Angela Merkel was quoted as saying.
Greece's left-wing government insisted on Saturday it had avoided being "strangled" by the euro zone, which agreed in principle to extend a financial rescue deal as nervous savers pulled huge sums from Greek banks.
Leftist Prime Minister Alexis Tsipras laid out plans on Sunday to dismantle Greece's "cruel" austerity program, ruling out any extension of its international bailout and setting himself on a collision course with his European partners.
German Finance Minister Wolfgang Schaeuble said on Monday Greece's leader Alexis Tsipras would have to "find a different way" to solve Greece's problems if he says he does not want money from the euro zone bailout program.
After four years of economic sacrifices, Greece bet it could agree an early end to its international bailout. Instead a stand off with creditors in a Paris townhouse led to new political uncertainty and another euro zone storm.
European shares and periphery euro zone bonds tumbled on Monday after the Greek parliament rejected the government's presidential candidate, setting the stage for an election that anti-bailout party Syriza could win.
Greece will aim to achieve a primary budget surplus of 2.9 percent of output next year, just shy of the 3 percent target set out under its bailout deal, its deputy finance minister said in an interview published Saturday.
General Motors Co announced its plans on Monday to invest about $1.3 billion in its five plants across the US to improve its output and create a new transmission, according to a Reuters report.
French car maker Peugeot is looking into a possible sale of top vehicle interiors and emission control technology company Faurecia. Peugeot exiting Faurecia might be necessary to secure another government bailout.
The Stability Fund was created as part of the bailout package of UBS AG and now, it was time for the bank to pay back the fund under a given formula.
Subscribe to VCpost newsletter
Most Popular
- Doctors Raise Concerns Over Proposed Capital Gains Tax Changes
- Walgreens to Open a New Pharmacy Offering Cell and Gene Therapies to Patients With Chronic Diseases Like Cancer
- How to Apply for Social Security Spousal Benefits; Here's How You May Boost Your Money!
- How to Get IRS Unclaimed Tax Refunds: Here's What to Do If You Think You Have Pending Payments
- Kroger and Albertsons to Sell off 166 Stores in Effort to Gain Approval for Their $25 Billion Merger
- Celebrity Designer Nancy Gonzalez Jailed for Smuggling Crocodile, Python Handbags
- Tesla Shareholder Asks Judge to Prevent Elon Musk From Moving Pay Fight to Texas to Evade Delaware Ruling
- Illinois Woman, Who Mysteriously Drowned After Giving $1.5 Million to Online Romance Scammers, Knew She'd 'End up Dead'