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'Financial guarantee' given for MF Global
CME said its "financial guarantee" would kick in if the trustee found it had distributed more money than allowed in a final accounting of the bankruptcy. It would cover the trustee up to $250 million. Another $50 million would go directly to CME
Updated: 11/12/2011 05:05A
MF Global workers fired
By Christopher Leonard AP NEW YORK — A futures exchange that handled trades by failed broker MF Global said Friday that it will cover as much as $300 million to help speed the release of funds frozen since the firm filed for bankruptcy protection.
Updated: 11/12/2011 04:38A
Italy clears path for austerity package
Greece's new unity government headed by Lucas Papademos, right, took office on Friday from George Papandreou, left, to save the debt-stricken nation from bankruptcy after a
Updated: 11/12/2011 04:26A
Defunct trading company MF Global fires entire workforce
James W. Giddens, the court-appointed trustee for the liquidation of MF Global, said in a statement that the company is dismissing workers in accordance with a bankruptcy court mandate. Between 150 and 200 former employees are being hired to assist
Updated: 11/12/2011 04:12A
Italian MPs to vote on austerity law
(File Photo) Italian lawmakers are set to approve an economic reform package in an effort to avert bankruptcy in the eurozone's third largest economy. Italy's lower house of parliament is scheduled to hold a meeting on Saturday to give final approval
Updated: 11/12/2011 03:35A
Euro gains on crisis progress
NEW YORK, Nov 11, 2011 (AFP) - The euro jumped 1.4 cents against the dollar Friday after Greece, Italy and Portugal all made progress toward implementing bankruptcy-avoiding austerity plans. At 2200 GMT, the euro was at $1.3739, compared to $1.3599
Updated: 11/12/2011 03:34A
Papademos takes helm in Greece
Greece's new unity government headed by Lucas Papademos took office on Friday to save the debtstricken nation from bankruptcy after a historic power-sharing deal struck between warring parties. Papademos, 64, is a former vicepresident of the European
Updated: 11/12/2011 03:31A
Italian lawmakers back reforms
Italian lawmakers gave initial approval to a reform package aimed at staving off bankruptcy Friday, easing market tensions on the eve of Prime Minister Silvio Berlusconi's expected resignation. The measures, which were promised by Berlusconi at a
Updated: 11/12/2011 03:31A
CME helps unfreeze funds
NEW YORK – A futures exchange that handled trades by failed broker MF Global said Friday that it will cover as much as $300 million to help speed the release of funds frozen since the firm filed for bankruptcy protection.
Updated: 11/12/2011 03:29A
Officials: Municipal finances are generally in good shape
Based on that, the New Mexico Department of Finance and Administration, which reviews annual municipal budgets and endorses them for final approval, has determined that city government must maintain at least $7 million in reserves during the current
Updated: 11/12/2011 03:26A
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