Greek bank merger delay stokes deposit seizure fears
Greek banks NBG and Eurobank on Monday said their planned merger has been postponed, causing huge volatility in their share price amid fears they may be nationalized. National Bank of Greece and Eurobank saw their stock plunge 30 per cent—- the maximum drop allowed in a session—- earlier in the day. But NBG ended the [...]
Global markets mixed after Cyprus rejects tax on bank deposits
By Pamela Sampson, The Associated Press BANGKOK - Asian stock markets were mixed Wednesday after Cypriot lawmakers rejected a tax on bank deposits that would have partly funded an emergency bailout to save the Mediterranean country from financial collapse. The vote by Cyprus’ parliament Tuesday rejected a plan cobbled together by international lenders to provide [...]
More than 10,000 Greeks protest planned gold mine operation
By The Associated Press THESSALONIKI, Greece – More than 10,000 people have taken to the streets of Greece’s second largest city to protest a planned gold mine they see as an environmental risk. Police blocked the crowd’s march to the Canadian Consulate in Thessaloniki, but Saturday’s protest took place and ended peacefully. Eldorado Gold Corp., [...]
Horse meat found in Ikea meatballs in Europe
Swedish furniture giant Ikea was drawn into Europe’s widening food labelling scandal Monday as authorities said they had detected horse meat in frozen meatballs labeled as beef and pork and sold in 13 countries across the continent. The Czech State Veterinary Administration said that horse meat was found in one-kilogram packs of frozen meatballs made [...]
Thousands in Portugal protest austerity measures as government eyes further cuts
By The Associated Press LISBON, Portugal – Several thousand people are protesting in Lisbon against austerity cuts the government says are needed to help Portugal out of recession. The nation is heading for a third straight year of negative growth, and protesters are worried more pain is heading their way as the government tries to [...]
Greek unionists march to parliament to protest planned pay cuts for transport workers
By The Associated Press ATHENS, Greece – Greek workers have marched to parliament to protest upcoming pay cuts for transport workers and the government emergency decree that forced subway employees to end their strike. The march Saturday by 2,000 members of the PAME union was peaceful. On Friday, Greek riot police stormed the Athens subway [...]
Mfg to stabilise as EU, Japan weakness offset boom: Markit
Chris Williamson, chief economist, Markit Economics explains to CNBC-TV18 that though manufacturing in the US and other economies has begun to show improvement, the positive effect is being nullified by the weakness in the eurozone and Japan.Below is an edited transcript of the analysis on CNBC- TV18 Q: Let’s go with Europe first. The data [...]
