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(RICHARD DREW/The Associated Press) A screen on the floor of the New York Stock Exchange shows the point gain of the Dow Jones Industrial average, Wednesday, Nov. 30, 2011. A move by the world’s central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers.

US stock futures lower as euro worries persist

Contributed The Associated Press

Last updated Wednesday, December 14, 2011 - 8:50am

NEW YORK — U.S. stocks appear headed for a slightly lower opening on renewed worries about the eurozone economy.

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Metalworkers march through downtown Turin, Italy, Monday, Dec. 12, 2011. Union leaders in Italy are calling on workers to stage a three-hour strike to protest austerity measures that Premier Mario Monti hopes will save the country from financial ruin. The union leaders say the measures hit too hard at pensioners and workers and not hard enough at the wealthy (AP Photo/Fabio Ferrari, Lapresse)

Italian markets nervous as unions strike over cuts

Colleen Barry, Frances D’emilio The Associated Press

Last updated Monday, December 12, 2011 - 8:52am

ROME — Italian financial market jitters worsened on Monday, as workers angry about government austerity reforms went on strike and held nationwide rallies while investors turned skeptical about an EU pact to save the euro.

Business, Economy, Euro, Protest, Stock Market, Strike, European Union, International Read more Comments

(MICHEL EULER/The Associated Press) Stock traders checks out a graph showing activity of US interest rates over one year in a business bank, in Paris, Monday, Dec. 12, 2011. Enthusiasm for riskier assets such as stocks and the euro faded Monday as investors worried that Europe’s new pact aimed at fixing the continent’s debt crisis would be insufficient.

US stock futures fall on euro pact concerns

Contributed The Associated Press

Last updated Monday, December 12, 2011 - 8:30am

NEW YORK — U.S. stock futures are falling Monday as the initial enthusiasm over last week’s agreement on fixing the European debt crisis is replaced by worries that it won’t be enough.

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(RICHARD DREW/The Associated Press) A screen on the floor of the New York Stock Exchange shows the closing number of the Dow Jones Industrial average, Wednesday, Nov. 30, 2011. A move by the world’s central banks to lower the cost of borrowing exhilarated investors Wednesday, sending the Dow Jones industrial average soaring 490 points and easing fears of a global credit crisis similar to the one that followed the 2008 collapse of Lehman Brothers. It was the Dow’s biggest gain since March 2009.

Stock futures rise despite S&P’s warning to Europe

Contributed The Associated Press

Last updated Tuesday, December 6, 2011 - 8:13am

NEW YORK — Wall Street appears headed a slightly higher opening, as investors weigh the impact of Standard & Poor’s warning about European credit ratings that sent most world markets lower.

Business, Credit Rating, Euro, Nasdaq, S&P 500, Stock Market, Wall Street, European Union, National Read more Comments

(MICHEL EULER/The Associated Press) France’s President Nicolas Sarkozy awaits German Chancellor Angela Merkel to discuss Europe’s financial crisis at the Elysee Palace in Paris, Monday , Dec. 5, 2011. The leaders of Germany and France will try to agree on Monday on a cohesive plan to help save the euro through stricter oversight of government budgets.

Sarkozy says eurobonds not a solution to crisis

Contributed The Associated Press

Last updated Monday, December 5, 2011 - 9:08am

PARIS — French President Nicolas Sarkozy says a jointly issued bond by all the countries that use the euro is not the solution to the continent’s debt crisis.

Business, Bond, Debt Crisis, Euro, Nicolas Sarkozy, International Read more Comments

German Chancellor Angela Merkel and French President Nicolas Sarkozy leave the building after their meeting in Strasbourg, France. Sarkozy and Merkel meet in Paris on Monday, Dec. 5, 2011, to unveil a proposal for closer political and economic ties between the 17 countries that use the euro. While the leaders differ on some of the details, their cooperation has been so tight they have come to be known by a single name: "Merkozy." (AP Photo/Michael Probst, File)

Markets rise ahead of Merkel, Sarkozy talks

Contributed The Associated Press

Last updated Monday, December 5, 2011 - 9:04am

PARIS — Financial markets are signaling optimism that the leaders of Germany and France will deliver a cohesive plan that saves the euro through stricter oversight of government budgets.

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(RICHARD DREW/The Associated Press) John P. Surma, right, Chairman and CEO of US Steel, talks with specialist Sean O’Brien as he visits the post that trades his company’s stock after ringing the closing bell of the New York Stock Exchange Monday, Nov. 28, 2011. A strong start to the U.S. shopping season and new hope for a far-reaching solution to Europe’s debt crisis sent stocks sharply higher.

Stock futures rise on euro hopes, holiday optimism

Contributed The Associated Press

Last updated Tuesday, November 29, 2011 - 8:23am

NEW YORK — Wall Street is poised for further gains amid ongoing evidence of a strong start to the U.S. holiday shopping season and hopes for a plan to deal with the European debt crisis.

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(LUCA BRUNO/The Associated Press) A man checks stock indexes on a screen of a bank in Milan, Italy, Monday, Nov. 28, 2011. For the second time in as many market days, Italy paid sharply higher borrowing rates in an auction Monday, as investors continued to pressure the eurozone’s third largest economy to come up with reforms urgently.

Eurozone ministers meet to build euro rescue plan

Don Melvin The Associated Press

Last updated Tuesday, November 29, 2011 - 8:11am

BRUSSELS — The 17 finance ministers of the countries that use the euro converged on EU headquarters Tuesday in a desperate bid to save their currency — and to protect Europe, the United States, Asia and the rest of the global economy from a debt-induced financial tsunami.

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(GREGORIO BORGIA/The Associated Press) Italy’s premier-designate Mario Monti speaks to the media after finishing his meetings with Italian political leaders and civil society organizations’ representatives at the Senate, in Rome, Tuesday, Nov. 15, 2011. Monti will submit his list for a new government to the Italian president Giorgio Napolitano on Wednesday.

Monti forms new Italian government

Contributed The Associated Press

Last updated Wednesday, November 16, 2011 - 8:23am

ROME — Economist Mario Monti announced Wednesday he has formed a new Italian government, opting to put technocrats instead of bickering politicians in his cabinet to enact reforms that can save the country from financial disaster.

Debt Crisis, Euro, Silvio Berlusconi, International Read more Comments

(PETROS GIANNAKOURI/The Associated Press) This Wednesday, Nov. 2, 2011 file photo shows Greece’s Conservative opposition leader Antonis Samaras addressing conservative members of parliament in Athens. Greece’s prime minister struggled Saturday Nov. 5, 2011 to form a temporary coalition government, faced with opposition calls for immediate elections that have extended a political deadlock in the debt-shackled country. George Papandreou has agreed to step aside if necessary to help his Socialist party hammer out a four-month coalition he says is vital to securing a new debt deal worth an additional euro130 billion ($179 billion). But his offer was snubbed hours later by opposition leader Antonis Samaras. “We have not asked for any place in his government. All we want is for Mr. Papandreou to resign, because he has become dangerous for the country,” Samaras said in a televised address. “We insisted on immediate elections.”

Greek premier struggles to end political deadlock

Demetris Nellas, Derek Gatopoulos The Associated Press

Last updated Saturday, November 5, 2011 - 3:38pm

ATHENS, Greece — Greece’s prime minister struggled Saturday to form a temporary coalition government in the near-bankrupt country, extending a political deadlock threatening billions in international rescue funds.

Debt Crisis, Euro, Greece, Prime Minister, Europe, European Union, International Read more Comments

(THANASSIS STAVRAKIS/The Associated Press) Protesters, dressed as prisoners gather during an event to protest against austerity measures outside the Greek parliament in Athens, Tuesday, Nov. 1, 2011. Lawmakers in Greece’s ruling Socialist party revolted Tuesday over their prime minister’s surprise decision to hold a referendum on a European debt deal, threatening the very survival of his embattled government.

Greece’s Papandreou heading to EU showdown

Derek Gatopoulos, Elena Becatoros The Associated Press

Last updated Wednesday, November 2, 2011 - 10:05am

ATHENS, Greece — Greek Prime Minister George Papandreou will try to win over irate European leaders later Wednesday, hours after persuading his cabinet to back a hugely-controversial referendum on the debt-crippled country’s latest rescue package.

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(VINCENT YU/The Associated Press) A trader reacts at Hong Kong’s Stock Exchange in Hong Kong Monday, Oct. 3, 2011. Stocks took another battering Monday after Greece admitted it won’t meet its deficit reduction targets, raising renewed fears that the country will not get crucial bailout loans it needs to avoid a default. The losses in Europe followed a big retreat in Asia, with Hong Kong’s Hang Seng leading the way lower with a 4.4 percent decline to 16,822.15.

Asian stock markets lower on Greek default fears

Pamela Sampson The Associated Press

Last updated Tuesday, October 4, 2011 - 7:47am

BANGKOK — Asian stocks extended a sell-off Tuesday, dogged by signs Europe’s debt problems are getting grimmer even as officials promised more help for Greece at the epicenter of the crisis.

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(THANASSIS STAVRAKIS/The Associated Press) European Union’s flag flies as the temple of Parthenon atop of the Acropolis hill is seen, background, in Athens, Wednesday, Sept. 14, 2011. The leaders of Greece, France and Germany will seek ways to contain the spiraling debt crisis and prevent it from further roiling global financial markets in a teleconference on Wednesday evening.

Top EU official seeks closer policy union

Don Melvin The Associated Press

Last updated Wednesday, September 28, 2011 - 7:47am

BRUSSELS — A senior EU official called for closer political and financial unification in Europe, as fractures emerged Wednesday among leaders on how to solve Greece’s debt crisis.

Business, Debt, Euro, Finance, Germany, Greece, Loans, European Union, International Read more Comments

Greek Minister of Finance Evangelos Venizelos speaks during a news conference in Athens, on Tuesday, Sept, 27, 2011. Greece will receive its next batch of bailout loans in time to avoid a disastrous default, the finance minister said Tuesday, while the prime minister pledged ahead of talks with Germany's leader that Athens will fulfill all its austerity pledges.(AP Photo)

Greece: will get loans in time to avoid default

Elena Becatoros, Geir Moulson The Associated Press

Last updated Tuesday, September 27, 2011 - 10:27am

BERLIN — Greece will receive its next batch of bailout loans in time to avoid a disastrous default, the finance minister said Tuesday, as stock markets rallied on hopes that the prime minister will discuss new ways of solving the crisis with Germany’s leader later in the day.

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Burnt euro notes, burnt because they were unusable for various reasons, are displayed in the money museum of German Bundesbank in Frankfurt, Germany, Wednesday, Sept. 14, 2011, with the German word "Ungueltig" or invalid cut into them. A top lawmaker from German Chancellor Angela Merkel's junior coalition partner is defending comments by his party's leader that an "orderly insolvency" for Greece should be considered in the future if Athens cannot get its finances in order. The comments by Free Democrats leader Philipp Roesler roiled markets earlier this week. They prompted Merkel to say she saw no quick solutions to Greece's problems and caution that "everyone should very carefully weigh their words." (AP Photo/Michael Probst)

Continent weighs a Greek departure from the Eurozone

Henry Chu Los Angeles Times

Last updated Wednesday, September 14, 2011 - 12:15pm

LONDON — Unhappy Germans want them out. Plenty of Greeks themselves would be glad to oblige, relieved to quit a currency club that they feel is more curse than blessing.

Currency, Euro, Global Economy, Greece, European Union, International Read more Comments