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Audit shows Spain banks need $76.3B

Submitted by Fox First at Ten on September 28th

By BARRY HATTON and CIARAN GILESAssociated Press MADRID (AP) - Spain's troubled banks need an extra €59.3 billion ($76.3 billion) to survive a serious economic downturn, according to an independent audit released Friday by the Bank of Spain. The stress tests' findings will help Spain

Greek coalition has 'basic agreement' on austerity

Submitted by Fox First at Ten on September 27th

By NICHOLAS PAPHITIS ATHENS, Greece (AP) - Greece's coalition government reached a "basic agreement" Thursday on a new round of harsh austerity cuts demanded by its international lenders. The measures, secured after weeks of fruitless efforts, had to be agreed or Greece would have been cut

Spain, Greece launch austerity plans to secure aid

Submitted by Fox First at Ten on September 27th

By CIARAN GILESAssociated Press MADRID (AP) - Spain and Greece outlined plans Thursday to reduce government spending and raise taxes to convince international lenders and financial markets they are on track to cut their deficits. The latest round of belt-tightening comes as economies across

US stocks fall on Europe unrest, weaker home sales

Submitted by Fox First at Ten on September 26th

By DANIEL WAGNERAP Business Writer A mixed report about the housing market and unrest in Europe on Wednesday extended the longest losing streak for the Standard & Poor's 500 index since mid-July. Other risky assets, like European stocks and oil, fell more sharply. The median price of

Prominent Kremlin critic faces criminal charges

Submitted by Fox First at Ten on September 26th

By MAX SEDDONAssociated Press MOSCOW (AP) - A Russian tycoon who has financed a newspaper critical of the Kremlin and supported the opposition has been charged with hooliganism and assault for punching a businessman during a television talk show. He dismissed the criminal case as politically

Stocks open mixed amid instability in Europe

Submitted by Fox First at Ten on September 26th

NEW YORK (AP) - It's a mixed open on Wall Street as investors keep an eye on a devolving situation in Europe. The Dow Jones industrial average is up 14 points at 13,471 in the early going. The Standard & Poor's 500 index is down a fraction of a point at 1,441 after four straight

US futures dip as European situation deteriorates

Submitted by Fox First at Ten on September 26th

NEW YORK (AP) - U.S. stock futures slid Wednesday as the European economic crisis devolved into social unrest in the most vulnerable countries, such as Greece and Spain. Signaling a broader instability in the region, Germany failed to raise sufficient bids for the country's benchmark 10-year

Greek riots, Spanish marches shatter market calm

Submitted by Fox First at Ten on September 26th

By ELENA BECATOROSAssociated Press ATHENS, Greece (AP) - Europe's fragile financial calm was shattered Wednesday as investors worried that violent anti-austerity protests in Greece and Spain's debt troubles showed that the continent still cannot contain its financial crisis. Police

Greek riots, Spanish marches shatter market calm

Submitted by Fox First at Ten on September 26th

Spaniards rage against austerity near Parliament

Submitted by Fox First at Ten on September 25th

By ALAN CLENDENNINGAssociated Press MADRID (AP) - Spain's government was hit hard by the country's financial crisis on multiple fronts Tuesday as protestors enraged with austerity cutbacks and tax hikes clashed with police near Parliament, a separatist-minded region set elections seen