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Euro up despite debt worries as stocks rebound
Filed under NewsFeb 9NEW YORK: US and European stocks eked out gains on Monday, lifted by defensive shares, while the euro edged up from 8-1/2-month lows despite persistent worries about the fiscal health of highly indebted nations in the euro zone.
A modest rebound on Wall Street helped pushed the euro to a session high above $1.37, although sentiment toward the single currency remained broadly negative, analysts said. US stocks edged higher after results at drugstore operator CVS Caremark Corp. and toy maker Hasbro Inc. topped expectations and both companies raised their outlooks. Rising defensive stocks such as drug makers helped European shares snap three days of losses, but worries about Greece and other debt-laden European countries kept gains in check.
Tagged as: Alpha Bank, Asia-Pacific, Asia;, Bank of Piraeus, cent, Credit Agricole, CVS Caremark Corp., Department of the Treasury, Dexia, Dow 30, drugstore operator, Europe;, FTSEurofirst 300, Greece, Hasbro Inc., J.P. Morgan Chase & Co., Japan, LONDON;, NASDAQ composite, National Bank of Greece SA, New York;, Nick Stamenkovic, Nikkei 225, oil;, Portugal, rate strategist, RIA Capital Markets, Sony Corp., Spain;, toy maker, UBS;, United States;, US government;, US Treasury, USD; -
Obama proposes new risk rules for banks
Filed under NewsJan 22WASHINGTON: US President Barack Obama proposed stricter limits on financial institutions risk-taking on Thursday in a new populist-tinged move that sent bank shares tumbling and aimed to shore up the presidents political base.
Obama, a Democrat who is just starting his second year in office, laid out rules to prevent banks or financial institutions that own banks from investing in, owning or sponsoring a hedge fund or private equity fund.
Tagged as: bank deposits, Bank of America Corp., Bank shares, bank shares tumbling, Barack Obama;, chairman, Citigroup Inc, Congress;, Democratic Party, Democratic senator, Dow 30, Edward Kennedy, executive, Fogel Neale Partners, Goldman, Goldman Sachs, healthcare reform, House of Representatives, investment strategist, J.P. Morgan, J.P. Morgan Chase & Co., late Democratic senator, Massachusetts, New York;, Obama administration, online panel, Paul Volcker, President, Ralph Fogel, risky bank loans, Senate Banking Committee, Senate;, United States Senate, United States;, US Federal Reserve, Washington;, White House;
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