National Business News

Spain's lender Bankia says it won't need more aid

Bankia's president, Jose Ignacio Goirigolzarri, speaks during a press conference at the bank's headquarters in Madrid, Saturday, May 26, 2012. Spain's troubled bank, Bankia, has asked the Spanish government for 19 billion euro ($23.8 billion) in financial support just as a leading credit rating agency downgraded it to junk status. The request came as Standard & Poor's downgraded Bankia and four other Spanish banks to junk status because of uncertainty over restructuring and recapitalization plans.

The president of Bankia tried Saturday to calm fears about the future of the bank, saying Spain's second largest mortgage lender will emerge as a solid financial entity after it receives (EURO)23.5 billion ($29.5 billion) in state aid in the country...

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Archive by category ''National Business News

NATIONAL BUSINESS NEWS

Austrian finance minister: No to eurobonds

Austria's finance minister is rejecting the idea of introducing jointly issued eurobonds any time soon and says that running up new debts to finance growth is "nonsense."

2 hours ago
NATIONAL BUSINESS NEWS

Embittered Facebook investors ponder next move

To say that Facebook's debut as a public company was bungled is something like saying Facebook is a website you might have heard of.

3 hours ago
NATIONAL BUSINESS NEWS

For something so simple, pasta is serious business

They twirled, they sniffed, they slurped, they chewed.

12 hours ago
NATIONAL BUSINESS NEWS

IMF chief Lagarde: Little sympathy for Greece

International Monetary Fund chief Christine Lagarde says she has more sympathy for poor African children than Greeks suffering under the country's economic problems and austerity measures.

1 day ago
NATIONAL BUSINESS NEWS

IMF chief Lagarde: Little sympathy for Greece

The managing director of the International Monetary Fund says she has more sympathy for poor African children than Greeks suffering under the country's economic problems and austerity measures.

8 hours ago
NATIONAL BUSINESS NEWS

Cheaper gas spurs more travelers this Memorial Day

More Americans will hit the road this holiday weekend than a year ago. And they'll have a bit more money to spend thanks to lower gas prices.

1 day ago
NATIONAL BUSINESS NEWS

Barbara Graves, wife of prominent publisher, dies

Barbara Kydd Graves, the wife of the publisher of Black Enterprise Magazine who aided in the growth of the publication and media company, died Friday.

21 hours ago
NATIONAL BUSINESS NEWS

Greek euro exit would be a recipe for hardship

As Greece creaks under its untenable debt and a shrinking economy, the possibility that it could stop using the euro is becoming increasingly likely. The effects of such a move would be as quick as they would be brutal for ordinary Greeks, who would essentially take a 50-percent pay cut just as ...

19 hours ago
NATIONAL ECONOMY

Why that flat Facebook IPO isn't so bad after all

The botched offering of Facebook stock has raised several troubling questions, but at least we don't have to worry about the one that plagues many IPOs: How are a few select investors able to buy in early at lower prices and then pocket huge profits when the trading frenzy begins?

19 hours ago
NATIONAL BUSINESS NEWS

Icahn spends $785M on Chesapeake Energy stake

Activist investor Carl Icahn has taken a sizable stake in Chesapeake Energy Corp. and is calling for at least four of company's directors to be replaced.

22 hours ago