Bankers to the rescue? On Wednesday, the West's major central banks launched a coordinated effort to prop up the floundering eurozone. Essentially, the banks moved to lower the cost of loans by making more dollars readily available, all in an attempt to help stave off a credit crunch. "At last, somebody does something!" says Tim Worstall at Forbes. Many investors shared that sentiment, and markets shot up on the news.
Economic protests in the West Bank are gaining steam: Thousands of people demonstrated throughout the territory on Wednesday to protest the high cost of living, and especially the recent increase in fuel prices.The increase in the c... Read Post
Igor Kim snapped cast-off assets from foreign banks pulling out of Russia and now the banker says he wants to expand into Europe.Kim, 47, emerged with his partners as an asset consolidator after the global crash of 2008 forced Weste... Read Post
J.P. Morgan Chase to the rescue. The New York bank has agreed to loan the struggling state of California $1.5 billion to generate some badly needed operating cash. The loan agreement is meant to tide the state over until it can get ... Read Post