The eurozone economy slipped closer to stagnation this month as the region’s manufacturing sector contracted for the first time since September 2009.
The country’s biggest banking group in terms of assets has reported an 11% increase in normalised headline earnings for the six months ended June 30.
US stocks tumbled more than 4% as rumours about the health of French banks sparked concern that the eurozone’s debt crisis could claim new victims.
The answer to Europe’s sovereign debt crisis lies in creating some form of ‘union’ bond
South Africa would not be able to escape an escalated European crisis unscathed, Finance Minister Pravin Gordhan said on Thursday.
Christine Lagarde will need to draw on all of her determination and experience as she leads the IMF through the toughest challenges in its history.
With no chance of getting a bailout like the state, many Portuguese are turning to consumer advocacy groups like Decoto try to keep from losing everything.
Hard-up Portugal has negotiated an international bailout worth €78-billion ($115-billion) over a three-year period, officials say.
Portugal’s financial tailspin gathered speed despite political efforts to contain the acute debt crisis that is also unnerving the 17-nation eurozone.
Moody’s downgraded Portugal’s credit rating on Tuesday, saying the debt-stressed country is struggling to generate growth and faces a tough battle.
Greece has launched a tirade against United States credit ratings agencies after Moody’s downgraded its debt grade further below junk status.
Disagreements over how quickly to reduce billowing budget deficits and restore balance to the global economy risk straining high-level G20 talks.
Germany’s Cabinet has approved the biggest national contribution to a $1-trillion emergency rescue package intended to stabilise the euro.