Last-minute deal resurrects Cyprus bailout EU and IMF officials struck a last-minute deal with Cyprus early Monday to resurrect a bailout for the island -- but one banking chain goes to the wall and major clients, who include many Russians, will take a giant hit.
Russians threaten to quit Cyprus over bailout levyAngry Russian residents of Cyprus are talking of giving up on the Mediterranean island over a eurozone bailout deal which they say unfairly targets their money.
China solar giant Suntech falls back to Earth China's Suntech has made a painful journey from being the world's largest solar panel producer to flirting with bankruptcy in just a year, highlighting the woes of the industry it shaped.
20 March 2013 15:16
Eurozone still ready to help Cyprus after vote Cypriot President Nicos Anastasiades' office said he "fully respects" the decision and that he had had a "constructive" phone call with Russian leader Vladimir Putin, amid reports Cyprus was seeking alternative financing.
Citigroup to pay $700 million to settle suit US banking giant Citigroup said Monday it will pay $730 million to settle a class-action suit by bondholders related to the 2008 financial crisis.
20 March 2013 10:24
Eurozone says ditch Cyprus tax grab on smallest accounts The eurozone has told debt-hit Cyprus to revise a controversial levy on bank deposits to allow small savers to escape the tax, part of a larger bailout deal, amid a public outcry and fears of a bank run.
Cyprus president in desperate bid to prevent run on banks Cypriot President Nicos Anastasiades will on Monday attempt to persuade lawmakers to back an EU bailout deal that slaps a levy on bank savings, amid fears of a run on accounts if he fails.
US Treasury chief not worried about market bubble US Treasury Secretary Jacob Lew said Thursday that he was not worried about a potential financial bubble forming as Wall Street stocks racked up record highs.
16 March 2013 12:09
IMF calls for 'urgent action' to boost Palestinian economy The International Monetary Fund (IMF) Thursday called for "urgent action" to help revive the Palestinian economy, saying it had been choked by Israeli restrictions and political uncertainty.
15 March 2013 13:15
Data confirms recession in weakest eurozone economies Data published on Monday confirmed recession in the eurozone's weakest economies last year, breathing new life into a heated debate on whether aggressive austerity measures may come at the cost of economic growth.
US companies keep more money offshore: report US companies are keeping more of their profits offshore, choosing overseas tax havens amid talk in Washington about closing corporate tax loopholes.
11 March 2013 11:00
Wall St. Raider Icahn defends Dell assault Wall Street raider Carl Icahn defended his twin attacks on computer giant Dell and offshore oil rig operator Transocean Friday, saying such companies need "shaking up" for shareholders' benefit.
10 March 2013 18:37
Economic gloom overshadows euro finance ministers meeting Eurozone finance ministers meet Monday against the backdrop of a weak economy and increased political uncertainty after inconclusive polls in Italy, the group's third largest economy.
