Hear Ye! Since 1998.
Please note: This post is at least 3 years old. Links may be broken, information may be out of date, and the views expressed in the post may no longer be held.
May 10

Daily news roundup

  • EU delivers a $957b rescue package – markets recover as probability of Greek default dissipates – EU finance ministers agree to provide $636b in lending to deteriorating economies, IMF prepared to give up to $321b separately, ECB reversed policy and is now buying govt bonds and corporate debt, US Fed will also provide liquidity (see below), as will the Bank of Japan – in response, Greek 10Y bonds plummet from 10.25% last Friday to 4.72% today, Euro rose above $1.30, CAC40 up 9.7%, DAX up 5.3%, Dow up 3.9%, gold down slightly, oil up slightly
  • US Fed steps in to help EU with Greek credit woes – Bernanke opens up currency swap lines with the ECB to provide liquidity for the European money markets. Link
  • Obama nominates Kagan as John Paul Stevens’ replacement on SCOTUS
  • GS reveals its traders made a profit on every single trading day last quarterLink
  • Truth behind AT&T’s exclusivity agreement with Apple still as clear as mud – Link
  • Israel finally admitted to OECDLink
  • Fannie Mae reported $13b Q1 loss – still hemorrhaging money
  • Facebook hiring more lawyers – Timothy Muris, former FTC chairman reported to be a likely hire (ostensibly, to deal with FTC investigations) – they earlier hired Tim Sparapani, an ex-ACLU lawyer as director of public policy
  • BRK reports Q1 results – revenue up from $23b to $32b, net earnings rose from –$1.4b to $3.8b.
  • Macbook Air refresh rumored for tomorrow
  • Harrods was sold by al-Fayed to Qatar Holding
  • Meanwhile, in Zimbabwe… link
  • Push for derivatives on movie box office grosses likely to be nixedCantor Exchange in limbo (looks to me like Hollywood is being short sighted again, "The real reason most of Hollywood is opposed to this development is unclear, but it is probably simply the age-old story of large, conservative institutions being averse to change"). Link
  7:26pm  •  Business & Finance  •  Current Affairs  •   •  Tweet This  •  Add a comment