July 10, 2012 |
NEW YORK -- Stocks gained in early trading Tuesday after European leaders agreed on bailout terms for Spain's troubled banking system. The Dow Jones industrial average gained 43 points, or 0.3%, to 12,779 shortly after the opening bell. The Standard and Poor's 500 index rose 7 points, or 0.5%, to 1,359. The Nasdaq was up 8 points, or 0.3%, to 2,939. Major European stock indexes were up about 1% or more. Spain's costs of borrowing eased, meanwhile. The country's 10-year bond yield slid to about 6.7%, down from about 7% Monday.
March 22, 2013 |
ATHENS -- Racing against time and short on choices, Cyprus on Friday moved to vote on yet another bailout formula its government cobbled together to secure a $13-billion international lifeline that will keep its weak banks afloat and avert a devastating default. Failure to produce a viable bailout scheme by Monday will force the European Central Bank, according to an ultimatum it issued earlier this week, to stop funneling billions of dollars into Cyprus' cash-strapped financial system, leaving the island nation to fend for itself.
November 27, 2008
Re "America's muscle: Detroit steel," Opinion, Nov. 23 Every time the bill comes to renew my subscription to The Times, I wonder if this is the time to cancel -- then I come across an article such as Ellen Slezak's, and I renew. The story she tells reminds us of the importance of the auto industry to families across America and the decent future for them that the bailout will help ensure. I support the bailout, although I feel it must come with new ideas. For example, the bailout should subsidize buying up American-made SUVs and replacing them with high-gas-mileage, low-pollution station wagons -- possibly hybrids.
CALIFORNIA | LOCAL
August 13, 2013 |
SACRAMENTO -- Gov. Jerry Brown already has begun talking to legislative leaders about the amount of money that would be needed to bail the state out of its prison crowding crisis. The governor has a court-imposed Dec. 31 deadline to find room for some 9,600 inmates or face the prospect of early releases. The corrections department currently is discussing paying private prison operators, counties and cities to take those inmates, at prices that range from $38 to $65 per inmate per day. At the moment, Brown also will have to find funding and authority to continue sending inmates already contracted to go to out-of-state prisons owned by Corrections Corp.
September 4, 2007 |
President Bush announced his intention last week to reach out a hand to the "many Americans" who "may have been misled" in the sub-prime mortgage market. Two days earlier, presidential hopeful Barack Obama called for fining "predatory lenders" to bail out "hoodwinked" families. L.A. City Councilman Richard Alarcon wants a $5-million revolving fund to "help homeowners on the verge of foreclosure."
March 28, 2013 |
As banks opened their doors Thursday for the first time in nearly two weeks in Cyprus, the odyssey over the nation's financial crisis and ensuing bailout took its newest turn. If you haven't followed the economic drama in this Mediterranean island, here's a recap of how Cyprus came to preoccupy the Eurozone. June 25, 2012: Cyprus seeks a bailou t after suffering heavy losses. Its banking sector was hit by the economic crisis in Greece; Cypriot banks had made loans to Greek borrowers that were worth 160% of the island's gross domestic product, according to the International Monetary Fund . Nov. 23: The European Union reports progress toward a deal with Cyprus.