Month: July 2013

Investors didn’t know what to make of the jobs report: They were cheered by a big uptick in hiring but worried that the good news will spur the Federal Reserve to scale back its economic stimulus.

Ratings agency Moody’s has placed Royal Bank of Scotland’s credit ratings on review for downgrade after Britain’s finance ministry said it was considering breaking up the bank. The government, which holds an 81 percent stake, has appointed Rothschild to examine whether to transfer RBS’s remaining toxic loans into a so-called ‘bad bank’ leaving the ‘good bank’ better placed to lend.

The Portuguese prime minister Pedro Passos Coelho is working to rebuild the country’s coalition government, but rating agency Standard & Poor’s is sharpening its knife.

Portugal’s prime minister says he’s found a way to maintain government stability following the resignations of the finance minister and foreign minister, in the most damaging political rift since the country received a bailout in 2011. Joanna Partridge reports.

The share of American adults with jobs rose slightly in June, to 58.7 percent. That matches the highest level since the end of the recession, but remains well below the prevailing level before the recession.

Senior BJP leader Raghavji on Friday resigned as Madhya Pradesh finance minister after his domestic help accused him of sodomising him and also presented a CD to the police as evidence of sexual harassment.

The International Monetary Fund is praising Italy for having taken “bold steps” to heal its finances but says the government needs to do more to get “unacceptably high” unemployment down.

The International Monetary Fund is praising Italy for having taken “bold steps” to heal its finances but says the government needs to do more to get “unacceptably high” unemployment down.

The European Central Bank left interest rates unchanged and will try to reassure investors rattled by new turmoil in Europe and the U.S. Federal Reserve’s plans to begin winding up its stimulus.

Customers of MF Global’s failed broker-dealer unit and the trustee overseeing its liquidation won court approval for a $546 million settlement with JPMorgan Chase & Co.