29 June, 2015 by The TZ Newswire Staff Comments Off on How Comcast Beat Disney and Won the Summer Box Office
How Comcast Beat Disney and Won the Summer Box Office
Comcast is winning the 2015 box office with big hits including “Jurassic World” and “Furious 7.”
29 June, 2015 by The TZ Newswire Staff Comments Off on Greece in shock as banks shut after snap referendum call
Greece in shock as banks shut after snap referendum call
With Greece’s bailout expiring on June 30 and an IMF payment falling due at the same time, Prime Minister Alexis Tsipras pleaded in vain by phone with European officials to extend the programme until a referendum on July 5 on its future terms. It also pushed Greece towards defaulting on 1.6 billion euros ($1.77 billion) due to the International Monetary Fund on Tuesday, which would take it closer to an exit from the euro zone. Queues snaked outside ATMs and inside supermarkets while fears of disruptions to fuel and medicine supplies grew.
29 June, 2015 by The TZ Newswire Staff Comments Off on S&P cuts Greece rating after referendum called
S&P cuts Greece rating after referendum called
Standard & Poor’s downgraded Greece’s credit rating deeper into junk territory on Monday, saying the government’s decision to hold a referendum on creditor proposals brought it closer to default. “We interpret Greece’s decision to hold a referendum on official creditors’ loan proposals as a further indication that the Tsipras government will prioritize domestic politics over financial and economic stability, commercial debt payments, and eurozone membership,” said S&P.
29 June, 2015 by The TZ Newswire Staff Comments Off on White House: No federal bailout for Puerto Rico
White House: No federal bailout for Puerto Rico
The White House threw cold water Monday on the notion of bailing out Puerto Rico from its financial crisis, instead urging Congress to consider changing the law so the island can declare bankruptcy. On …
29 June, 2015 by The TZ Newswire Staff Comments Off on Market Extra: Yay or Nay: Greece’s referendum will be complicated
Market Extra: Yay or Nay: Greece’s referendum will be complicated
If Greeks vote “no,” it could leave the country little choice but to exit. But doing so will be complicated.
29 June, 2015 by The TZ Newswire Staff Comments Off on Capitol Report: Why Greek crisis won’t hurt U.S. economy
Capitol Report: Why Greek crisis won’t hurt U.S. economy
The odds of a major global economic upheaval linked to Greece are now viewed as remote, and the turmoil in financial markets is seen as temporary.
29 June, 2015 by The TZ Newswire Staff Comments Off on SocGen Says "Raise Cash" As Volatility, Turbulence Ahead
SocGen Says "Raise Cash" As Volatility, Turbulence Ahead
The arrival of ATM lines and capital controls in Greece combined with the bursting of Beijing’s margin- and PBoC-fueled equity bubble have plunged financial markets into turmoil to start the week with traders and central bankers alike reduced to deer in headlights ahead of a previously unthinkable Greek referendum on the euro and the continuation of brutal limit-down trading in China.
As SocGen notes, there’s only one thing left to do when it looks like the bottom could fall out at any moment: move to cash.
Via SocGen: