China cuts bank reserves in policy shift to lift economy
China's central bank cut reserve requirements for commercial lenders on Wednesday for the first time in three years, a policy shift to ease credit strains and shore up an economy running at its weakest pace since 2009.
The world's major central banks acted jointly on Wednesday to provide cheaper dollar liquidity to starved European banks facing a credit crunch as the euro zone's sovereign debt crisis threatened to bring financial disaster.
S&P may cut France rating outlook to negative: report
(Reuters) - Credit rating agency Standard & Poor's could change the outlook for France's triple-A rating to negative within the next 10 days, a French newspaper reported on Monday, citing several sources.
The IMF is drawing up a 600 billion euro ($794 billion) bailout plan for Italy as a safeguard for the country in the event that the its debt crisis escalates even further, reported Italian daily La Stampa as cited by AFPon Sunday.
Daimler AG has decided to discontinue its Maybach ultra-luxury cars after failing to find a fix for their dwindling sales and lack of profitability, barely a decade after resuscitating the Maybach brand.
FRANKFURT - Italian two-year and five-year government-bond yields soared to euro-era highs Friday as investors began giving up on the euro zone's ability to break the political gridlock that is blocking a more decisive response to the currency bloc's debt crisis.