Europe's sovereign debt crisis threatens to unravel the single currency project. First Greece, now Ireland, have had to seek emergency bailouts, exposing political divisions between Germany, the region's economic powerhouse, and the euro area's most indebted nations. Will monetary union crumble? Can the rescue fund be made big enough to deter the bond vigilantes? Should investors steer clear of Europe's peripheral bond markets? This conference explores how U.S. investors should position themselves during Europe's crisis.
Hong Kong stocks rose, with the city’s benchmark index rising a third day, after U.S. home prices climbed the most since 2006 and orders for durable goods beat estimates, boosting earnings prospects for Asian exporters.
The British pound has become currency traders’ favorite refuge from the resurgent European debt crisis, threatening efforts by U.K. Prime Minister David Cameron to lift the economy out of its second recession in three years.
Paris’s Praetorium, a seven-story office building that opened in 2009, was hailed as the first step in President Nicolas Sarkozy’s plan to revitalize the city’s La Defense skyscraper district. Today, it’s still empty.
Oil entered a bear market in New York as it headed for the biggest monthly drop in more than three years on speculation Europe’s worsening debt crisis and a slowing U.S. economy will reduce fuel demand.