So few banks failed Europe’s long-awaited stress tests on Friday that investors will likely focus instead on the dozen or so banks that just scraped through when the markets reopen next week. Get the full story »
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July 24, 2010 at 8:55 a.m.
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Filed under: Banking, Economy, International, Policy, Politics, Updated Stress tests: Focus is on banks that barely passed
July 21, 2010 at 5:40 a.m.
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Filed under: Defense, International, Litigation, Manufacturing, Policy EU appeals WTO ruling against Airbus
The European Union plans on Wednesday appealed a World Trade Organization ruling that Airbus SAS received $20 billion in illegal government subsidies that unfairly tilted the global aircraft market — to the detriment of Chicago-based Boeing Co. The appeal had been widely expected, and will likely prolong the already long-running dispute between the E.U. and U.S. over government funding to planemakers Airbus and Boeing. Get the full story »
Stress tests and retail sales lift the Dow
The Dow climbed 274 points to 10,018 today as investors were encouraged by retail sales in the U.S. and the fact that stress tests are to be done on European banks. Those tests are supposed to show how banks will hold up if they get hit with bad debts from weak European countries such as Greece and Spain.
WTO panel slams European Union aid for Airbus
The European Union and some of its states paid prohibited export subsidies to planemaker Airbus and must eliminate them rapidly, a World Trade Organization dispute panel said on Wednesday. The ruling marks a big setback for Airbus, but is not the end of its battle with rival Boeing over subsidies in the market for large civil aircraft worth $3 trillion over the next 20 years.
Boeing hailed the WTO ruling, which did not back all U.S. claims, saying it proved that Airbus had only been able to take market share from Boeing — nudging it out of number one place in the process — because of subsidies. Get the full story »
Airbus calls for trade talks as ruling nears
Airbus is calling for talks between the United States and the European Union to end the trans-Atlantic fight over subsidies to aircraft manufacturers. Airbus says it’s the only way to end the costly six-year dispute.
G20 to warn on complacency; fiscal fight looms
The Group of 20 rich and emerging nations later this week will warn against complacently assuming a sustainable global economic recovery, while admitting sickly public finances could hurt long-term growth, a draft G20 document shows.
