Last Update: May 17, 2012 3:42 AM HKT

Europe Uneasiness Endures, China Frees Up Cash: Daily Markets Wrap

Political discord in Greece, voters punishing German Chancellor Angela Merkel's Christian Democrats, lower euro zone manufacturing output and China freeing up cash for lending all contributed to a global stocks slide as investors pursued the safe havens of government debt and the dollar.

Latest Breaking News

A resident looks at the price of gasoline as she fuels up her car at a gas station in South Beach

From Politics & Policy

More US Domestic Oil Production Unlikely To Offset High Energy Costs, Says Report

The now-familiar call for Washington to lower energy costs by increasing domestic production of oil may not be the most effective policy, according to this month's Congressional Budget Office report on the nation's energy security.

A trader works in the J.P. Morgan stall on floor of the New York Stock Exchange, September 14, 2009.

From Politics & Policy

SEC 'Probably' Drafting JPMorgan Subpoenas: Former Agent

U.S. Securities and Exchange Commission investigators are "probably" in the process of drafting subpoenas against JPMorgan Chase & Co.

Greece's Left Coalition party head Tsipras addresses reporters during a news conference after a meeting with Socialist PASOK party leader Evangelos Venizelos at the parliament in Athens

From Politics & Policy

Greece: Socialists Fail To Form Unity Government, New Elections Probable

A new poll will have to be called if parties cannot reach a consensus by next Thursday, as the risk of Greece's exit from the euro looms closer.

Customers stand at an Air India reservation office at domestic airport in Mumbai

From Politics & Policy

Aviation Minister Urges Air India Pilots To Return To Work As Strike Enters Fourth Day

About 250 AI pilots remain on strike, having called in sick since Monday.

Spain

From Politics & Policy

Spain Agrees To Independent Banking Audit, Orders More Reserves From Banks

The Spanish government agreed Friday to an independent audit of the holdings of its banking sector, as requested by the European Union.

A woman collects ballots during parliamentary elections at a polling station on the outskirts of Algiers

From Politics & Policy

Opposition And Islamists Charge Fraud In Algerian Parliamentary Election

Members of Green Alliance charged the authorities with fraud for their distant third place finish.

UK economy

From Economy

Recession Britain: Is George Osborne Cornered?

Chancellor George Osborne has suffered a downpour of bad economic news for the UK in recent months and there looks like no end to Britain's economic woes.

Indian Rupee

From Politics & Policy

Rupee Remains Volatile Despite RBI Intervention While India's Industrial Production Shows Surprising Decline

Despite RBI's desperate efforts to prop it up, rupee declined by 18 paise to reach 53.60 against dollar in the late morning trade on Friday. However, rupee stabilized in the later sessions at 53.54/55 before closing at 53.45 and India's industrial production surprisingly declined by 3.

Consumer Sentiment

From Politics & Policy

Consumer Sentiment Improves In May: Job Market May Follow

Consumer sentiment crept up slightly in May to its highest level in four years as gasoline prices declined and many perceived the job market to be improving.

Bank of China

From Economy

China's Weak April Economic Reports Lift Odds Of Monetary Easing

Just about everything in China's economy seems to have gone backwards in April and the raft of weaker data raised fears that the world's second largest economy has yet to bottom out.

Europe

From Economy

Friday Wrap-Up: Greece, Europe, JP Morgan and the 'Unknown Unknowns'

Donald Rumsfeld's famous quote sums up perfectly the concerns gripping investors around the world.

A woman leaves a branch of Bank of China in Beijing

From Economy

Slowing China’s Industrial Output to Pressure Beijing to Ease Monetary Policy

The slowdown in the economic activity of China continued in April as the weakening external demand and domestic consumption hit the industrial activity in the world’s second largest economy to reach ...

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Symbol Lookup

20 mins delayed data
SpainFrom Global Markets

Playing The Spanish Crisis, Wall Street Bigs Leave Tracks In Distorted Markets

In a seeming effort to profit from the latest European disaster, large investors are causing some unusual movements in the U.S. securities markets.

Palash R. GhoshFrom Science

Friday the 13th: Superstitions Are Real

I don’t think my superstitions have harmed my life in any way nor gotten in the way of my happiness.

IBTIMES PROFESSIONAL