Archive for June, 2015

UPDATE 2-Dijsselbloem says Greece's stance must change for new bailout

June 30th, 2015

UPDATE 2-Dijsselbloem says Greece's stance must change for new bailout
THE HAGUE, June 30 (Reuters) – The chairman of the Eurogroup said on Tuesday Greece was on track to default at midnight and Athens’ stance towards its creditors would have to change before its euro…


Source
Reuters: US Dollar Report

Fitch Downgrades Greece to 'CC'

June 30th, 2015

Fitch Downgrades Greece to 'CC'
(The following statement was released by the rating agency) LONDON, June 30 (Fitch) Fitch Ratings has downgraded Greece’s Long-term foreign and local currency Issuer Default Ratings (IDRs) by one…


Source
Reuters: US Dollar Report

EMERGING MARKETS-Latam stocks rise cautiously as investors eye Greece

June 30th, 2015

EMERGING MARKETS-Latam stocks rise cautiously as investors eye Greece
RIO DE JANEIRO, June 30 (Reuters) – Latin American stocks rose modestly on Tuesday as some investors bet Greece could still strike a deal to remain in the euro zone, but a sharp fall in shares of…


Source
Reuters: US Dollar Report

Xiaomi take first big step outside China with Brazil smartphone

June 30th, 2015

Xiaomi take first big step outside China with Brazil smartphone

Xiaomi's Vice President of International Operations Barra attends a news conference in Sao PauloBy Brad Haynes SAO PAULO (Reuters) – Chinese smartphone maker Xiaomi has started making devices in Brazil for sale locally, promising to dramatically undercut rivals on price in the first big step beyond Asia for the world's most valuable technology start-up. Xiaomi's global vice-president, Hugo Barra, said at a launch event on Tuesday that the entry-level Redmi 2 smartphone would go on sale in Brazil next week for 499 reais ($160). Without traditional advertising or stores, China's top-selling smartphone company is betting that a tempting price tag will capture the attention of Brazilians who have become increasingly cost sensitive as their economy sours.

Source
Economy News Headlines – Yahoo! News

Export-Import Bank Set To Expire At Midnight After Congress Fails To Act

June 30th, 2015

Export-Import Bank Set To Expire At Midnight After Congress Fails To Act

The Export-Import Bank, which helps to finance trade deals for U.S. companies, needed Congressional reapproval by June 30, but Congress didn’t act. Now the bank is living on borrowed time, thanks to an anti-crony capitalism campaign driven by Koch organizations and other conservative groups.

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Economy : NPR

Greek Government Offers Last-Minute Plan To Avoid Default

June 30th, 2015

Greek Government Offers Last-Minute Plan To Avoid Default

On the day it is due to miss a crucial payment to the International Monetary Fund, the Greek government has made a last minute appeal to the European Union to restart talks about how to deal with the country’s debts.

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Economy : NPR

Brazilian President Mends Ties With President Obama On White House Visit

June 30th, 2015

Brazilian President Mends Ties With President Obama On White House Visit

President Obama sought to downplay any major impact the Greek debt crisis could have on the U.S. economy. He spoke at a news conference with the president of Brazil and also addressed the ongoing talks on Iran’s nuclear program and his administration’s recent wins on the domestic policy front.

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Economy : NPR

A Greek Exit Could Set Off Eurozone Chain Reaction

June 30th, 2015

A Greek Exit Could Set Off Eurozone Chain Reaction

If Greece defaults, it could be forced to leave the eurozone. Germany’s finance minister said on Tuesday that a Greek default doesn’t necessarily mean it has to give up the euro.

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Economy : NPR

Obama Proposes Expanding Overtime Pay To Nearly 5 Million Workers

June 30th, 2015

Obama Proposes Expanding Overtime Pay To Nearly 5 Million Workers

The White House is proposing new rules that will boost the number of people eligible to receive overtime pay. The rules are facing opposition from the retail and restaurant industries.

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Economy : NPR

FOREX-Euro falls ahead of Greek IMF repayment deadline

June 30th, 2015

FOREX-Euro falls ahead of Greek IMF repayment deadline
NEW YORK, June 30 (Reuters) – The euro was broadly lower on Tuesday as investors braced for the near certainty that Greece will default on a loan from the International Monetary Fund, while the U.S….


Source
Reuters: US Dollar Report