Mar 17th, 2010 · Shares of Blockbuster Inc. sank 30 percent Wednesday after the video rental chain warned that it may have to file for Chapter 11 bankruptcy protection. The chain is trying to convince creditors to restructure a big chunk of its debt amid as it struggles to compete in a shifting market.
Mar 12th, 2010 · As the financial crisis grew in 2007 and 2008, the now-defunct banking giant knew it needed to reduce its reliance on borrowed money. But it was a bad time to sell stuff off and pay back debts. So Lehman Brothers made special use of something called the repo market.
Mar 10th, 2010 · The legislation would give months of continued jobless checks to people who have been out of work for more than half a year and help the unemployed pay for health insurance. The 62-36 vote came over protests from conservatives who say the bill adds too much to the $12.5 trillion national debt.
Mar 10th, 2010 · The legislation would give months of continued jobless checks to people who have been out of work for more than half a year and help the unemployed pay for health insurance. The 62-36 vote came over protests from conservatives who say the bill adds too much to the $12.5 trillion national debt.
Mar 10th, 2010 · Of the 16 countries that use the euro, some have stable economies, while others are in bad shape. But in recent weeks, there has been speculation that Greece might default on its debt, putting other European countries at risk. Just over a decade after the euro was introduced, the unified currency is having something of an existential crisis.
Mar 8th, 2010 · Greeks are angry at the country's previous for getting the country into the debt crisis, and angry at other European states for pressuring Greece to meet its debt obligations. Greek public sector workers are seething at new austerity measures, which include steep pay cuts.
Mar 8th, 2010 · Greek Prime Minister George Papandreou says his country takes responsibility for its financial problems and is looking to improve governance. He says even during the election campaign that brought his party to power last year, he was unaware of the scale of Greece's debt and deficit.
Mar 8th, 2010 · Voters in Iceland have rejected a referendum that planned to spend billions of dollars to repay Britain and the Netherlands for debts spawned by the collapse of an Icelandic bank. Britain's treasury secretary said he expects to get back several billion dollars that Iceland owes, but admitted it could take many years.