December 18, 2010 |
The battered U.S. bond market ended the week with a rally on Friday, as the highest yields since at least spring lured buyers. The benchmark 10-year Treasury note yield fell to 3.32%, off from 3.47% on Thursday and down from a seven-month high of 3.52% on Wednesday. Traders said the Treasury market was helped as some investors sought a haven amid more fallout from Europe's government-debt crisis. Despite the European Union's bailout package for Ireland, which the country accepted this week, Moody's Investors Service on Friday issued a stunning vote of no-confidence in both the EU and Ireland: The firm slashed the island nation's debt rating to Baa1 from Aa2, a cut of five notches.
May 25, 2010 |
Governments in Europe are scrambling to introduce austerity measures that would slash their budget deficits, as investor fears about high public-debt levels continued to hammer the continent's stock markets and currencies. Britain's new coalition government used Tuesday's official state opening of Parliament, a ceremony filled with pomp and pageantry, to reiterate its commitment to getting the country's books in order. "The first priority is to reduce the deficit and restore economic growth," Queen Elizabeth II said in the House of Lords, in accordance with tradition that the monarch outlines the agenda of the ruling government.
October 14, 2008 |
Like soldiers falling into step, governments across Europe offered up a series of sweeping bailout plans for their banking systems Monday, pushing past $2 trillion the amount of taxpayer money that has been pledged to shore up the continent's floundering financial sector. Markets responded positively to the news, with stock exchanges gaining back some of the ground lost in last week's selling binge.
October 11, 2008 |
The tsunami of global stock sell-offs swept through Europe on Friday as shareholders deserted the markets in droves, pushing down stock prices in a frenzy some dubbed Red October. Exchanges that had hit record highs just a year ago plunged almost from the moment they opened. London's FTSE 100 lost 10% of its value within half an hour of the opening bell.
June 16, 2002 |
ANKARA, Turkey -- Olga, a slim 24-year-old Russian blond, never met her Turkish husband. A Russian prostitution ring arranged the marriage through bribery to provide her with instant Turkish citizenship--a shield against deportation if she is ever caught. Prostitution has become more visible in Turkey since the collapse of the Soviet Union led to an influx of tens of thousands of women working for sex gangs.
September 16, 2000 |
European truckers' protests over high fuel prices spread Friday, backing up traffic for miles on highways from Spain to Poland. Some governments caved in while others refused, reflecting the political divisions on the continent. In The Hague, truck and taxi drivers circled government buildings blaring their horns to demand tax breaks--an unusually boisterous protest in the Netherlands, a nation where politics usually proceeds by consensus and quiet negotiation.