AP - British regulators on Tuesday banned a former trader at Merrill Lynch International Bank from working on financial markets after he manipulated his accounts by about $100 million last year to hide growing losses.
European and U.S. stock markets rallied Tuesday after the Standard & Poor's credit rating agency gave its cautious backing to the Greek government's attempts to get a grip on its borrowing.
AP - German investor confidence slipped for the sixth month in a row in March as expectations settled for a slow recovery in the next half-year, a closely watched survey showed Tuesday.
European Union countries called off Tuesday talks on new rules to oversee hedge funds, saying they needed more time to get isolated Britain on board a compromise deal.
Finance ministers from the 16-country euro zone agreed on Monday to mobilize financial aid for Greece rapidly if needed but revealed little of how their standby plan for the debt-stricken nation would work.
Reuters - Euro zone finance ministers agreed on Monday on a mechanism that would allow them to help Greece financially if needed, but revealed no details except that it would be without loan guarantees.
The Spanish EU presidency said it hoped to secure a deal among eurozone finance ministers Monday to help Greece out of the fiscal mire, as Europe prepared to present plans for coordinated action.
AP - Soaring government debt endangers Europe's business climate because it could hold back economic growth and crowd out financing for companies, European employers said Monday.
An emergency fund to rescue eurozone economies could be a long-term possibility, the European Union's Commissioner for Competition Joaquin Almunia said Monday.
