Other Search Results for: announcement
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Greece, Out of Ideas, Requests Global Aid
BUSINESS STRATEGY – Describing his country’s economy as “a sinking ship,” Greece’s prime minister formally requested an international bailout on Friday, creating the biggest test so far to the European monetary union.
“We drew up a plan, we took difficult and painful measures,” Prime Minister George A. Papandreou said in a nationally televised address. “But the [...] -
Fed Rate Move Sends Dollar Higher
Business Strategy — The Federal Reserve’s decision to raise the interest rate it charges on short-term loans to banks reverberated in the financial markets Friday, sending overseas stock indexes lower and giving fresh momentum to a recent rise in the dollar.
The Fed took the move to normalize lending after holding interest rates to extraordinary lows [...]