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Spain police clash with austerity protesters

Spain police clash with austerity protesters

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Spanish police have fired rubber bullets and charged protesters in central Madrid after a huge demonstration against economic crisis measures. Thick smoke hung in the air early on Friday from plastic bins set alight by protestors chased by police, who hit them with batons when some tried to reach the…

Moody’s downgrades Italy by two notches

Moody’s downgrades Italy by two notches

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Moody’s has downgraded Italy’s government bond rating by two notches to Baa2 and warned it could cut it further. The rating agency said Friday’s downgrade would not affect Italy’s Prime-2 short-term rating, but the move surprised markets and piled on pressure just hours before the eurozone third-largest economy launches its…

Spanish PM explains EU bailout amid protests

Spanish PM explains EU bailout amid protests

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Spain’s prime minister is appearing in parliament to explain the conditions European Union partners have demanded in exchange for an emergency bailout of Spain’s troubled banks. Mariano Rajoy is also likely to announce new austerity measures demanded as part of the deal. Spain’s 16 eurozone partners agreed to provide $122.9…

UK MPs question former Barclays executive

UK MPs question former Barclays executive

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Bob Diamond, the former Barclays chief executive, has acknowledged that there were “mistakes” and “reprehensible” behaviour at the bank, in testimony before British politicians about the rigging of key London interest rates. “Clearly there were mistakes, clearly there was behaviour that was reprehensible,” Diamond said on Wednesday, while insisting that…

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