Detroit attorneys filed their case in the US Bankruptcy Court in Detroit last Friday for the city's request for bankruptcy protection.
Industry
Slovenia liquidates two banks as bailout nears
Slovenia officials said on Friday that it had planned liquidation of two small lenders to ensure financial stability.
Abu Dhabi looks for retail kiosks investors
The Municipality of Abu Dhabi launched a new project and sought for investors in its planned installation and operation of street retail kiosks.
Smartwatch, the next revolutionary device
The smartwatch had been seen as the latest addition to the consumer electronics market however a source said the device would not change anything in the industry.
Italy assures public no opposition to foreign takeovers
Italy' economy minister assures the market that Italy has no policy to oppose foreign bids for domestic enterprises.
Latest News
Reuters columnist James Saft wrote in his latest column that a reform change, and not a new central bank governor, could help the falling rupee and the Indian economy.
Two top US Federal Reserve officials said last Wednesday that they were open-minded in implementing the proposed stimulus reduction this month.
The sale of speculative-grade bonds surged in the US this year. The sales of junk bonds in the US surged this year. Investors bought the bonds as it had been giving better returns than investment-grade securities for seven straight months.
Analysts said that though economies in Euro Zone and China were experiencing significant growth spikes in their economies, emerging economies of India, Italy and France are not faring well.
Morningstar reported Pimpco's Total Return Fund took a USD 41 billion hit in the last four months.
US jobs and service sector data indicated Thursday that the US Federal Reserve would be slowing its bond buying program down soon.
In an The Group of Twenty Finance Ministers and Central Bank Governors's (G20), attendees would be seeing a show of power and influence between US President Barack Obama and Russian President Vladimir Putin arguing on how to act on the crisis in Syria.
In an interview, Gabriele Galateri, Telecom Italia's director, sees the need for the consolidation of the European telecommunications industry.
Anthony Weiner, the NYC mayoralty candidate, got into a heated verbal exchange with a member of the Jewish community.
