This week, the U.S. Justice Department issued a memorandum urging prosecutors to put corporate leaders in the financial sector and other industries in the dock for any criminal wrongdoing.
"What I want to emphasize is that regional or systemic financial crisis will not happen in China, and the Chinese economy will not head for a hard landing," Chinese Premier Li Keqiang said last January. Roughly seven months later, China finds itself at the epicenter of a global stock market rout that has vaporized $8 trillion in wealth.
LONDON – European and U.S. shares rebounded on bargain-hunting Tuesday as China cut interest rates after fears of a slowdown in the world's second-biggest economy sparked a "Black Monday" rout across global markets.
ATHENS, Greece – Greece's government hiked taxes and paid billions of euros to its creditors on Monday, as banks reopened just days after the debt-laden country reached a reforms-for-cash deal with its European partners.
U.S. stocks faced their worst day of the year on Monday, with the Dow Jones industrial average plunging 350 points. It was part of a sell-off that spanned three continents after negotiations between Greece and its creditors broke down over the weekend and Athens closed the nation's banks.
Groaning under at least $73 billion in debt, Puerto Rico — which is being called "America's Greece" — is staggering down a path towards default, a scenario that could ripple across cities and states that depend on bonds for building everything from schools to stadiums.
The question is whether investors should get worried or if it's just another date in the calendar that government leaders and creditors will work around.
BRUSSELS, Belgium – Greece and its EU-IMF creditors failed to break the deadlock in emergency talks on Thursday to reach a bailout deal, raising fresh fears of a default by Athens that could send it crashing out of the euro.
WASHINGTON, D.C. — History repeats itself, first as tragedy, then as farce, and finally as trolling. That, at least, is the case in Greece, where its lenders want it to cut its pensions rather than hike its business taxes, because they're afraid those increases would, as the Financial Times' Peter Spiegel reports, "crimp economic growth."
